Hungry Davos attendees to sample Saudi delicacies at Misk cafe

“The Saudi Café – operated by a Saudi chef, will introduce a piece of Saudi culture to the WEF,” the Misk Global Foundation said in a statement. (MiSK)
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Updated 20 January 2020

Hungry Davos attendees to sample Saudi delicacies at Misk cafe

  • The Saudi Café – operated by a Saudi chef, will introduce a piece of Saudi culture to the WEF
  • Misk also plans to release research at Davos

LONDON: Davos delegates will get to sample a taste of Saudi Arabia at a cafe in the event venue in Switzerland this week.
It is one of a series of initiatives organized by the Misk Foundation, a non-profit philanthropic foundation established by Saudi Crown Prince Mohammed bin Salman. It aims to empower Saudi youth to become active participants in the Kingdom’s future economy.
“The Saudi Café – operated by a Saudi chef, will introduce a piece of Saudi culture to the WEF,” the Misk Global Foundation said in a statement on the eve of the gathering.
Some 3,000 leaders from the worlds of business, public policy, culture and technology are due to arrive in the Alpine town of Davos for the annual meeting of the World Economic Forum (WEF), which begins on Tuesday.
Positioned at Promenade 80 and open daily to all, the Saudi Café will also offer networking and working spaces alongside coffee and traditional Saudi delicacies.
Misk also plans to release research at Davos highlighting how some of the biggest challenges facing attendees can be addressed by youth-led solutions.


IMF experts visit Lebanon amid worsening economic crisis

Updated 20 February 2020

IMF experts visit Lebanon amid worsening economic crisis

  • IMF team will provide broad technical advice
  • Lebanon has not requested IMF financial assistance

BEIRUT: A team of IMF experts met Prime Minister Hassan Diab on Thursday at the start of a visit to provide Lebanon with advice on tackling a deepening financial and economic crisis, an official Lebanese source said.

The IMF has said the team will visit until Feb. 23 and provide broad technical advice. Lebanon has not requested financial assistance from the Fund.

The long-brewing economic crisis spiraled last year as capital flows into the country slowed and protests erupted against the ruling elite over decades of corruption and bad governance.

Diab’s government, which took office last month, must decide what to do about upcoming debt payments, notably a $1.2 billion dollar-denominated sovereign bond due on March 9.

Lebanese President Michel Aoun meanwhile said on Thursday measures would be taken to hold to account all those who contributed to Lebanon’s financial crisis through illegal actions be they transfers abroad, manipulation of Eurobonds or other acts.

“There is information that we are still in need of with regards to the banking situation. There are measures that we will take to hold to account all who participated in bringing the crisis to where it is,” Aoun said, according to his Twitter account.

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One of Lebanon’s most influential politicians, Parliament Speaker Nabih Berri, said on Wednesday that debt restructuring was the best solution for looming maturities.

Lebanon will on Friday review proposals from firms bidding to give it financial and legal advice on its options, a source familiar with the matter said on Thursday. The government aims to take a quick decision on who to appoint, the source said.

So far, firms bidding to be Lebanon’s legal adviser are Dechert, Cleary Gottlieb, and White and Case, the source said.

Lebanon has issued requests for proposals to seven firms to provide it with financial advice.

The government on Wednesday formed a committee tasked with preparing an economic recovery plan that includes ministers, government officials, a central bank representative and economists, according to a copy of a decree seen by Reuters.