Lebanon wasn't spared a debt rating downgrade that pushed it deeper into junk, hours after Qatar unveiled a plan to plow $500 million into its government bonds. Daily headlines from the UAE and around the world brought to you by Gulf News. See more at: http://gulfnews.com/videos
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00:00The woe seems to be worsening for Lebanon after it faced a debt-rating downgrade, which
00:07moved it deeper into junk status.
00:10Moody's Investor Service downgraded Lebanon's debt rating one step lower to CWA1, which
00:16means seven points lower than the investment rate, comparing it with countries like Gabon,
00:22Zambia and Iraq.
00:24Remember that Lebanon is currently in a financial crisis and has disavowed any debts restructuring
00:29on its part.
00:30Saudi Energy Minister Khalid Alfali is not attending the World Economic Forum in Davos
00:35this year.
00:36This grows the growing list of people who are not attending, which includes Donald
00:40Trump, the US President, Narendra Modi, the Indian Prime Minister, Theresa May, the UK
00:44Prime Minister, Justin Trudeau, the Canadian Prime Minister and also Xi Jinping, the Chinese
00:51Premier.
00:52Saudi Arabia earlier used this forum to sell it as an investment destination.
00:56The Tokyo court has rejected a bail plea of former Nissan Chairman Carlos Ghosn even
01:01after two months that he was arrested.
01:04Carlos Ghosn earlier said and accepted and even vowed to wear an electronic amulet that
01:10would track his movement, even surrender his passport or even pay for the security guards
01:15that would guard him, but the Tokyo court didn't approve his bail plea.
01:21Remember that Carlos Ghosn was arrested in November on charges of falsifying accounts
01:26and even misinterpreting or misrepresenting his salary statements.