Lebanon is one of the most indebted nations, its government debt is estimated at 155 percent of gross domestic product. The country imports vastly more goods and services than it exports, and the government budget deficit is set to increase too as a percentage of GDP this year.
Excessive government borrowing has inflated the politically well-connected banking sector that lends to the state at high interest rates. Banks prefer to lend to the government rather than finance innovative enterprises, depressing private-sector investment. The banks rely on wealthy Lebanese and especially the diaspora to deposit their money in Beirut. The enormous interest rates earned by these depositors flow into very few pockets: About 1 percent of all accounts are estimated to hold roughly half of total deposits.Wednesday, July 14, 2021
The Rise & Fall of Arabtec
The ups and downs of Arabtec reveal the perils of being in the construction industry. Big projects don't guarantee timely payments and this ends up impacting the entire supply chain.
It will be interesting to observe how the construction industry will reshape itself post the Arabtec era.A farm in the middle of the desert
Enjoy a day out with your friends and family by visiting Emirates Bio Farm, the biggest organic farm (privately owned) in Al Ain, UAE.
Location: https://goo.gl/maps/aRiMZRS8YeMvmvMM7The rise and fall of B R Shetty and NMC
#NMC #Shetty #BRShetty #scrutiny #business
After BR Shetty resigning from the board of directors, The CEO of NMC Health, Prasanth Manghat, has been dismissed. His role will be taken over by the current Chief Operating Officer, Michael Davis, on an interim basis. The Chief Financial Officer, Prashanth Shenoy, has also been granted extended leave, according to Bloomberg. I feel extremely sad for the employees at NMC who have not received their salaries and wish the best for them. It's usually the people at the top who engage in wrongdoings but the operational level staff suffers. I hope we learn from this.Skills or Degree ?
Multinationals are changing their recruitment policies to adapt to the dynamic environment we live in. Companies like Google, EY (UK), Hilton, Apple, Starbucks, and IBM have said they do not require a college diploma for some of their top jobs.
With tuition fees soaring worldwide, and education failing to keep pace with the changing world many youngsters don't have the time or money to earn a college degree. However, this doesn’t mean your job prospects are diminished. A degree can in many cases just earn the job, but it cannot help to grow further without the skill. - It is the skill that attracts the employers, clients, and management which lifts or drops the person. Without the skill, the person would not be able to catch hold the interest of their superiors and attain success.Covering 7 cities in 7 days in SriLanka
Watch my travel video if you are planning to visit Srilanka soon
If going to SriLanka, click here to watch my Video
The Rise and Fall of Subway
#Subway has closed more than 1000 stores in the last three years. The fast-food chain with the most locations globally seems to be passing through a challenging phase. It will be interesting to see how Subway will rebrand and reinvent itself for future success. Watch the video to understand its rise and fall and perhaps a re-rise.
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