Daily Business Wrap - Not looking good for Lebanon - video Dailymotion

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As Lebanon edges ever close to a financial crisis, Goldman Sachs says investors will be lucky to get 35 cents on the dollar. Slow growth, political instability and regional conflict have all weighed heavily on Lebanon's economy.

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00:00As Lebanon edges ever closer to a financial crisis, Goldman Sachs has said that foreign

00:06investors there could reclaim just 35 cents on the dollar in the event of a debt restructuring.

00:12Slow growth, political instability and regional conflicts have all weighed heavily on Lebanon's

00:17growth in the past seven years, and now Goldman Sachs says that the country, which has one

00:21of the highest debts in the world, could be on the brink of a financial crisis. That being

00:27said, Lebanon has financial reserves and enough foreign liquidity to see it through for the

00:32next couple of years, the report added.

00:34Globally, markets rose on Monday off the back of the US and China's indication that they

00:39would be working towards a trade deal to ease the current ongoing trade war. Markets across

00:46Asia saw gains on Monday morning, both in Korea, Hong Kong and Japan, although by mid-afternoon

00:53on Monday, gains in Europe had been pared down as increasing concerns over that deal

01:00began to unfold.

01:02And lastly, Tesla broke ground on its first foreign factory today in Shanghai. In collaboration

01:09with the Shanghai government, the company says that it will be producing Model 3 Teslas

01:15for the Chinese market exclusively.

01:18That's all for today. Thanks very much for watching and we'll be back tomorrow with more headlines.

01:23Transcription by ESO. Translation by —

Daily Business Wrap - Not looking good for Lebanon

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