KABUL: Afghan businessman Shoaib Barak is struggling to pay his workers and suppliers, unable to access funds from a banking system crippled by the freezing of the nation’s overseas assets. 

HONG KONG: Three years of democracy protests followed by a pandemic have devastated Hong Kong retailers who had grown used to relying on cash from mainland Chinese tourists. In a city that once boasted some of the world’s highest retail rents, the market has cratered.

PARIS: The climate crisis has put the end of oil onto the agenda, but achieving that is a colossal task given the world economy’s deep dependence on petroleum. “In 2021, several developments showed clearly that (the petroleum) industry doesn’t have a future,” said Romain Ioualalen at the activist group Oil Change International.

MOSCOW: A Moscow court on Friday slapped Google with an unprecedented fine of nearly $100 million, while Meta (formerly Facebook) received a fine of $27 million. 

KUWAIT: In 2021, Group Human Resources at the National Bank of Kuwait (NBK) played a key and pivotal role in implementing NBK’s strategic objectives in the midst of the health, economic and social challenges imposed by the COVID-19 pandemic. 

WASHINGTON: American consumers ramped up spending in November but at a slower pace than the prior month, while prices continued to march upward, posting the biggest gain since 1982, according to government data released.

BRUSSELS: The EU said it could raise up to 17 billion euros ($19 billion) annually through a carbon border tax, emissions trading and taxes on big corporations. 

FRANKFURT: German national carrier Lufthansa cancelled several transatlantic flights around Christmas, after the number of pilots calling in sick was greater than normal for this time of year, a spokesman said yesterday. 

MOSCOW: Walking through a freezing market in Moscow earlier this month, 60-year-old Sergei Borisovich recalled that he rang in the last New Year at a table laden with festive delicacies.