by Asharq Al-Awsat | Oct 3, 2017 | World
London- Britain’s Monarch Airlines collapsed on Monday, causing the cancellation of all its activities and around 300,000 flights. It marooned more than 100,000 tourists abroad, prompting what was billed as the country’s biggest peacetime repatriation effort. The...
by Asharq Al-Awsat | Sep 22, 2017 | Business
Toys “R” Us Inc (IPO-TOYS.N) has filed for bankruptcy protection in a United States court, the company said, amid heavy debt and a tough environment for bricks and mortar stores. The Chapter 11 filing by the biggest US toy store chain, to restructure $5...
by Asma Al-Ghabiri | Dec 27, 2016 | Business
Jeddah – Banks under control of insurgent militias are on the brink of bankruptcy, according to financial experts. Economical and financial experts stressed that the deposits that were supposed to be in the banks, are now in danger shall the government not intervene...
by Asharq Al-Awsat English | Jan 14, 2016 | Business
As fuel prices collapsed, the Russian government announced it was preparing to cut its expenses by 10 per cent in order to avoid bankruptcy of the country, similar to what happened in 1998. “The basic principle of our policy remains that it must live within its means,...
by Hussein Shobokshi | Jul 25, 2013 | Opinion
All of a sudden, one of the largest American cities announces that it is bankrupt. Detroit, known “The Motor City,” or “Motown” for short, is the capital of the US automobile industry and the heart of African-American music. It declared...
