Source: CNBC
Security & Justice
Mawlawi Ensures Strict Monitoring for Wanted Syrian Regime Figures at Beirut Airport
Caretaker Minister of Interior, Bassam Mawlawi, conducted an inspection tour of Rafic Hariri International Airport in Beirut to review the security arrangements and measures implemented by the Airport Security Apparatus ahead of the holiday season.
Thursday, December 19, 2024
Hezbollah Faces Internal Criticism Over Missing Fighters and Captured Prisoners
Hezbollah is grappling with increasing internal and external pressure as the fate of over 1,000 of its fighters remains uncertain following the recent war with Israel, Asharq al-Awsat newspaper revealed.
Thursday, December 19, 2024
Opinion
Lebanon After the Assads
The United States has important equities in Lebanon, including a desire for a generally friendly government’s economic and political stability; security cooperation; long-standing relations with the large Christian community in Lebanon and Lebanese diaspora in the United States; and ultimately peace between Israel and Lebanon within a broader regional settlement. Achieving these objectives will require navigating a tumultuous period in the country’s history following a war between Hezbollah and Israel that has devastated a large part of the country, exacerbating Lebanon’s already challenging economic conditions. But perhaps the most important dynamic will be how a likely Sunni-dominated state of uncertain composition in Syria will differ in its intentions toward Lebanon from the previous Alawite-led minoritarian Assad regime.
Thursday, December 19, 2024
Europe’s Syrian Dilemma
The news of the sudden and unexpected demise of Bashar al-Assad’s regime in Syria has met a mixed response in Europe. The jubilation that a murderous dictator and close ally of Russia and Iran has fallen is not just good for the Syrian people but serves as a morale booster for Eastern Europeans wondering whether Russia can be defeated
Wednesday, December 18, 2024
Sports
Cristiano Ronaldo Unveils New Private Jet Worth $73 Million
Cristiano Ronaldo, one of the richest global athletes, has unveiled his upgraded private jet reportedly worth $73 million. With its top-notch design, exceptional speed and range of 7500 nautical miles, the Gulfstream G650 is among the fastest jets in the world.
Monday, December 16, 2024
Guardiola Accepts Man City May Need to Sign More Players to Cope with Schedule
Manchester City manager Pep Guardiola believes he will need a bigger squad to handle soccer’s ever-expanding fixture schedule.
Saturday, December 14, 2024
Wednesday 19 June 2024 16:13:45
Top 10 Most Expensive Cities for Expats in 2024
Asia’s biggest financial hubs have once again clinched the top spots for being the costliest cities for international workers to live in, according to Mercer.
Hong Kong was ranked as the most expensive city for expats to live in, followed by Singapore and Zurich, according to the Cost of Living City Ranking 2024.
Cities in Switzerland — Zurich, Geneva, Basel, and Bern — snagged four out of 10 spots. New York City ranked No. 7.
The top five spots had no change from the year before, but London climbed 9 positions from No. 17 to 8.
Top 10 most expensive cities for expats:
- Hong Kong
- Singapore
- Zurich, Switzerland
- Geneva, Switzerland
- Basel, Switzerland
- Bern, Switzerland
- New York City, United States
- London, United Kingdom
- Nassau, Bahamas
- Los Angeles, United States
The survey compared the costs of more than 200 items in each of the 226 cities studied — including the price of housing, transportation, food, clothing, household goods, and entertainment.
New York City was used as the benchmark and currency fluctuations were measured against the U.S. dollar.
Cities in Nigeria, Pakistan, and Kyrgyzstan were the least expensive cities for expats to live in, with Lagos and Abuja in Nigeria falling 178 and 86 spots respectively to No. 225 and 226.
Sky-high housing markets
High inflation and rising economic and geopolitical tensions have driven up housing prices, utilities, local taxes, and education, the Mercer report said.
“High living costs may cause assignees to adjust their lifestyle, cut back on discretionary spending, or even struggle to meet their basic needs,” Yvonne Traber, Mercer’s global mobility leader, highlighted in the press release.
Apart from Nassau, Bahamas, all other cities in the top 10 reported a rise in housing costs from 2023, with an 8% price jump in Hong Kong and Singapore, 7% in New York City, and 6% in Zurich.
“Between 2023 and 2024, there was a lot of volatility in this cost around the world, with housing rental prices varying significantly between cities,” the report said.
Prices have also risen as housing supply failed to keep up with demand.
“Such costs can be particularly challenging in areas with high population growth or with limited land available for development. Other factors, such as construction costs and land prices, can also affect housing affordability,” the report noted, adding that this would leave employees with less disposable income for other expenses.
