Carlos Ghosn brings executive training to troubled Lebanon

International executives, including a former Goldman Sachs vice-chairman, are believed to have agreed to give courses as part of Carlos Ghosn’s programs. (AFP)
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Updated 30 September 2020
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Carlos Ghosn brings executive training to troubled Lebanon

  • Former Nissan and Renault head says programs will boost jobs market and help rebuild crisis-hit country

BEIRUT: Carlos Ghosn, the former Nissan and Renault head who fled Japan where he was facing trial, is launching a university management and business program in Lebanon, a nation mired in a deep crisis blamed on years of misrule, mismanagement and corruption.

Nine months after his dramatic escape to Beirut from Tokyo, the Lebanese-French executive has unveiled a plan to shake up the business school at the Universite Saint-Esprit de Kaslik (USEK), a private university north of the Lebanese capital.

Ghosn, credited with turning round the Japanese and French carmakers before he faced charges of financial wrongdoing that he denies, plans programs to coach top executives, offer technology training and help startups that will create jobs.

Ghosn, a fugitive from a Japanese justice system he says was rigged against him, has found refuge in his childhood home Lebanon where the economy is collapsing under debts amassed since the 1975-1990 civil war. A devastating blast in Beirut on Aug. 4 compounded Lebanon’s woes.

“Obviously I am not interested in politics but I will dedicate time and effort into supporting Lebanon during this difficult period,” he told Reuters at the weekend, ahead of Tuesday’s formal launch during a press conference of his new university program.

“This is about creating jobs, employment and entrepreneurs to allow society to take its role into the reconstruction of the country,” Ghosn told a press conference at USEK on Tuesday.

Ghosn, who was approached by USEK in the weeks after arriving in Lebanon at the end of December, said the programs aimed to offer practical help. He will help supervise.

Drawing on his experience, the focus for the executive program would be turning around companies in trouble, corporations struggling with a troubled environment and how to “make yourself invaluable” in a company.

Ghosn said several international executives had agreed to give pro bono courses, such as Jaguar and Land Rover CEO Thierry Bollore, former Goldman Sachs vice-chairman Ken Curtis and venture capitalist Raymond Debbane.

The short courses, expected to start in March, would be open to 15 to 20 senior executives in Lebanon and the Middle East.

“The role model is my experience, what I think are the basic needs of a top executive in a very competitive environment,” he said, adding that, when he was in charge, Nissan’s executive training program in Japan had been open to other companies.

The second USEK program, subsidised by the executive program, would train people on new technologies, such as computer-assisted design and artificial intelligence.

Ghosn said Lebanon’s jewelry exporters were among those who would benefit from the use of software to help with designs.

The third program would act as an incubator for start-ups, and he aimed to invest in two projects. “I am mainly interested in projects that have environmental impact,” he said, citing the example of a project to turn sewage into fertilizer.

“You are creating entrepreneurs which are badly needed, you are creating employment,” he said, adding he had been persuaded to work with USEK by the president of the Maronite Christian institution, Father Talal Hachem, and his young team.

Ghosn said he had also chosen to work with USEK, rather than some of the bigger Lebanese universities, because he liked the idea of working with an institution that drew in a broad range of students, not just the wealthy.

“These students need help more than anybody else. This is the class that has been smashed by the situation today,” he told Reuters.

“I’m going to help in the way I can,” he said. “I’m going to help build the economy by helping to solve problems that every Lebanese is facing today.”


Aramco’s 13% rally helps Saudi stocks post second weekly gain

Updated 12 March 2026
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Aramco’s 13% rally helps Saudi stocks post second weekly gain

RIYADH: Saudi Aramco extended its year-to-date rally to nearly 13 percent on Thursday, helping the Kingdom’s benchmark stock index secure a second straight weekly gain despite a weaker final trading session.  

Saudi Aramco shares, which carry the heaviest weighting on the Saudi Exchange, closed at SR26.86 ($7.16), leaving the stock 12.72 percent higher since the start of 2026. The stock also remained 3.09 percent above last week’s close, even after falling 1.1 percent in Thursday’s session.

The rise in energy shares came as escalating tensions in the Middle East pushed oil prices above $100 a barrel, after attacks on tankers in the Gulf and the Strait of Hormuz heightened concerns over supply disruptions.

The Tadawul All Share Index maintained its weekly uptrend, rising nearly 1.07 percent week on week to close at 10,778.32, despite falling 0.45 percent in Thursday’s session. Compared with the first trading day of the year, the index has gained 4.01 percent.

Total trading turnover on the benchmark index reached SR5.05 billion at Thursday’s close, with 88 stocks advancing and 176 declining.

Aramco’s performance continued to anchor sentiment after the company reported adjusted net income of $104.7 billion for 2025 earlier this week, while net profit fell 12.1 percent year on year to $93.39 billion, compared with $106.25 billion in 2024, as lower crude prices weighed on earnings despite higher sales volumes across oil, gas and refined products.

On a March 10 earnings call, Aramco CEO Amin Nasser warned that prolonged disruption in the Strait of Hormuz could have severe implications for global energy markets. Roughly 20 percent of the world’s oil normally passes through the waterway each day, but shipments have been largely blocked.

“There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on ... the more drastic the consequences for the global economy,” he said.

“While we have faced disruptions in the past, this one by far is the biggest crisis the region’s oil and gas industry has faced.”

Saudi equities showed mixed performance in Thursday’s session. The MSCI Tadawul Index fell 5.99 points, or 0.40 percent, to close at 1,476.76.

The Kingdom’s parallel market Nomu gained 132.47 points, or 0.6 percent, to close at 22,370.4, with 38 stocks advancing and 34 declining.

On March 11, the International Energy Agency announced the release of 400 million barrels of oil from its reserves, the largest such move in its history. As part of that, the US said it would release 172 million barrels starting next week.