TOKYO: Carlos Ghosn’s lawyers have asked the Tokyo District Court to dismiss all charges against the former Nissan Motor Co. Ltd. chairman, saying prosecutors colluded with government officials and Nissan executives to oust him from his post.
Ghosn’s legal team in a press release on Thursday said they had submitted two court filings ahead of a planned pre-trial meeting the same day that list cases of “misconduct” by prosecutors and “factual defenses” that show Ghosn is innocent of financial wrongdoing.
“The prosecution against him resulted from unlawful collusion between the prosecutors, government officials at METI (Ministry of Economy, Trade and Industry), and executives at Nissan, who formed a secret task force to drum up allegations of wrongdoing,” the lawyers said in the release.
Since his first arrest in November, Ghosn has been charged four times on allegations he underreported his Nissan salary, temporarily transferred personal financial losses to Nissan’s books and authorized payments to car dealers with the purpose of enriching himself.
Currently on bail in Japan, Ghosn is not allowed to contact his wife or use the Internet unsupervised and has had to submit to surveillance of his movements. Japanese courts have dismissed several appeals by Ghosn to ease those restrictions that his lawyers have argued violates Japan’s constitution and international law on family separation.
In September, Ghosn and Nissan agreed to settle claims from the US Securities and Exchange Commision over false financial disclosures related to Ghosn’s compensation. Nissan agreed to pay $15 million, while Ghosn agreed to a $1 million civil penalty and a 10-year ban from serving as an officer or director of a publicly traded US company.
Courts in Japan have yet to fix a schedule for his prosecution to begin, with local media reporting that his first trial may start in March. Ghosn’s defense team of 13 lawyers includes four lawyers in Japan who will defend him in the upcoming trials.
Ghosn’s lawyers seek dismissal of charges, accuse prosecutors of misconduct
Ghosn’s lawyers seek dismissal of charges, accuse prosecutors of misconduct
- Ghosn has been charged four times on several allegations, including that he underreported his Nissan salary
- Currently on bail in Japan, Ghosn is not allowed to contact his wife or use the Internet unsupervised and has had to submit to surveillance of his movements
S&P affirms UAE sovereign credit ratings at AA/A-1+ amid regional tensions
JEDDAH: The UAE’s sovereign credit ratings have been affirmed at AA/A-1+ with a stable outlook, as S&P Global Ratings highlighted the country’s strong fiscal buffers, diversified economy, and policy flexibility in the face of escalating regional conflict.
The agency cited the UAE’s consolidated net assets, estimated at 184 percent of gross domestic product in 2026, and its low general government debt of around 27 percent of GDP, as key buffers against economic shocks.
Sovereign credit ratings play a key role in determining a country’s borrowing costs and investor demand for its debt. A high rating signals strong fiscal health and policy stability, helping governments attract foreign investment and access global capital markets at favorable terms.
S&P noted that “our baseline forecasts carry a significant amount of uncertainty” amid heightened tensions involving Iran, Israel, and the US, including potential threats to key infrastructure.
The report added: “We also believe the authorities will deploy their substantial policy flexibility to counteract the effects of volatility stemming from geopolitical tensions in the Gulf region on economic growth, government revenue, and its external accounts.
“We believe this flexibility will enable the UAE to withstand periods of low oil prices and, more importantly, the temporary disruption of oil production and export routes.”
The UAE is facing a tense geopolitical environment amid escalating Iran-Israel-US conflicts. Threats around the Strait of Hormuz have nearly stopped vessel traffic, fueling oil market volatility and investor concern.
The ratings agency also emphasized the UAE’s diversified economic base, with non-oil sectors accounting for roughly 75 percent of GDP, as a stabilizing factor.
Strategic infrastructure, including the Abu Dhabi Crude Oil Pipeline to Fujairah, enables the country to bypass the Strait of Hormuz and safeguard oil exports, while ADNOC’s overseas storage investments further mitigate risk.
Despite the risks, S&P expects sectors such as financial services, trade, and tourism to remain resilient. It forecasts that UAE growth will moderate to 2.2 percent in 2026, down from 5 percent in 2025, reflecting potential impacts from expatriate outflows, reduced tourism revenue, and lower real estate demand.
S&P cautioned, however, that “we now expect weaker economic and external performance due to increased intensity, scope, and potential duration of conflict in the Middle East,” underscoring that prolonged disruption could weigh on fiscal and external accounts.
The affirmation underscores investor confidence in the UAE’s ability to navigate short-term geopolitical challenges while maintaining long-term stability. Analysts said the country’s large liquid asset buffer and effective policy tools will likely contain the credit impact of regional tensions and support continued economic growth.
The UAE has consistently maintained strong and stable sovereign credit ratings, reflecting a resilient and diversified economy, as well as prudent fiscal management.
Despite occasional caution during regional tensions or oil market swings, ratings have remained high, underscoring the country’s policy flexibility, fiscal strength, and appeal to global investors.
