Ramada opened its first hotel in Saudi Arabia last year, and SAS Group , owner of Radisson hotels, is developing properties in Saudi Arabia and the United Arab Emirates.

FORBES: Magazine Article

In addition to the job cuts, the statement said, 5, 600 employees will leave the SAS group through divestment or outsourcing --- with 3, 000 of these through its loss-making Spanish subsidiary Spanair.

CNN: Airline SAS cuts 3,000 jobs, announces restructuring plans

Nonetheless, from an investor's perspective, 3C still merits a significant amount of attention simply because of its members, a list that also includes: AIG, Areva, Bayer, British Sky Broadcasting, Dow Chemical, Endesa, Hitachi, Munich Re Group, RAO UES Russia, SAS and Siemens.

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We speak to airline CEOs Jean-Cyril Spinetta of Air France-KLM, British Airways' Willie Walsh BA, Ola Strand of SAS Norway, and Richard Branson, chairman of Virgin Group about the measures they're taking to weather this economic storm.

CNN: This month's show: business on a budget