The aid money that held the country steady after its brutal civil wars is ebbing and inflation has surged to more than 25%. Many businesses are struggling to stay afloat. But one industry seems to be weathering the storm: shipping. The tiny west African country, with a gdp of just $2.1bn, has one of the largest seagoing fleets in the world. Over 4,400 vessels which is about 12% of global shipping fly its flag. And the number is growing. The secret of this maritime success is an old practice known as the flag of convenience. In the 1920s shipowners began to register their vessels abroad for a small fee. This allowed them to avoid taxes and labour laws back home. Liberia had few regulations and made it easy to sign up. By the 1960s it had the largest merchant navy in the world.
Airbus A380 Custom ($500 million): This is the most expensive private jet in the world, owned by Al-Waleed Bin Talal from Saudi Arabia and a member of the Saudi royal family – House of Saud. Prince Al-Waleed bin Talal has the eighth-highest amount given to charity ($3.5 billion) among the greatest philanthropists. He’s the 50th richest man in the world. He has almost everything gold plated in the plane and comes with a solid gold throne in the middle. The jet is referred to as Kingdom in the Sky and comes with a Turkish bath, a garage where he can park his Rolls Royce and even a prayer room with electronic mat that automatically rotates to face Mecca.
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