Malaysia develops for foreigners, then takes it away
Episode description
In this week's episode of the Business Extra podcast:
Malaysian Prime Minister Mahathir Mohamad said on Monday he wanted to prevent foreigners from buying residential units in the $100 billion Forest City project, a setback for the Chinese developer Country Garden as it tries to revive faltering demand for the site. What is the rationale for the change in direction?
Tesla Chief Executive Musk said late on Friday he would heed shareholder concerns and no longer pursue a $72 billion take-private deal. Musk's take-private plans for Tesla have evaporated, but the company's looming debt needs remain. How much is Musk's erratic behaviour hurting the company?
Emirates is adding a fourth daily flight on its route from Dubai to Riyadh starting from September 1. From Sept 1 there will be 91 weekly flights to the kingdom.
And we have a chat with Anna Skigin, who founded the company Frank Porter, which helps people in Dubai rent their apartments on AirBNB.