The Parliamentary Economic Committee, headed by Representative Farid Bustani, met Saturday morning with the Caretaker Interior Minister Mohammed Fahmy at the Ministry’s headquarters, to discuss the issue of exporting to the Kingdom of Saudi Arabia. Conferees reportedly discussed the best ways to enhance trust between the Kingdom and Lebanon. Minister Fahmy assured the delegation of following up...
Category: Business
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Banks’ Association says ready to discuss circular to be issued by Central Bank with complete positivity
The Association of Banks in Lebanon issued this Friday the following statement: “In light of the statement issued by the Central Bank today, June 4, 2021, the Association of Banks utters appreciation for the work done by the Central Council of the Central Bank, headed by His Excellency the Governor Riad Salameh, at this very...
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BDL Central Council issues decision to pay depositors $400 Fresh dollars and its equivalence in Lebanese pounds per month
This article explains the Lebanese Central Bank’s decision allowing eligible depositors to withdraw a monthly amount in “fresh” US dollars alongside its equivalent in Lebanese pounds, as part of efforts to ease the banking crisis.
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Central Bank suspends decision allowing depositors to withdraw their dollar deposits at 3900 rate
The Central Bank of Lebanon issued on Wednesday a statement addressed to banks operating in Lebanon, in which it said: “Given that the Central Bank has been informed today of the decision of the State Consultative Council No. 213/2020-2021, 6/2/2021, it has decided to suspend circular. No. 151, which allows depositors to withdraw the money...
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Lebanon crisis among world’s worst since the 1850s: World Bank
Lebanon’s economic collapse is likely to rank among the world’s worst financial crises since the mid-19th century, the World Bank said in a damning report released Tuesday. The report predicts that Lebanon’s economy will shrink by close to 10 percent in 2021 and stresses there is “no clear turning point on the horizon”. Lebanon defaulted...
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Time for investment: Today’s top cryptocurrency prices
Make a venture by seeing the present top digital currency costs. Digital forms of money are back in the game after a tornado of changes in costs because of China’s boycott. Bitcoin, the biggest digital currency, has bounced back from the impacts of market unpredictability set off because of the boycott and Elon Musk’s tweets....
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IMF says ending COVID-19 pandemic possible at cost of some $50 billion
The International Monetary Fund on Friday unveiled a $50 billion proposal to end the COVID-19 pandemic by vaccinating at least 40% of the population in all countries by the end of 2021 and at least 60% by the first half of 2022. Doing so, IMF officials say, would inject the equivalent of $9 trillion into...
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As dogecoin extends record rise, Galaxy’s Novogratz says ‘it’s dangerous being a speculator’ in the crypto
As dogecoin extends record rise, Galaxy’s Novogratz says ‘it’s dangerous being a speculator’ in the crypto Wealthy investor Mike Novogratz says that the run-up in dogecoin is a reflection of the disenchantment of younger investors in the current state of financial markets and the economy and cautioned that trying to bet on the parody coin...
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Today’s oil prices in Lebanon
A daily bulletin listing the current official prices of gasoline, diesel, and other petroleum products in Lebanon for consumers and businesses.
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Lebanon’s central bank chief says French properties bought prior to becoming governor
Lebanon’s central bank chief said on Monday his properties in France were all acquired prior to him being appointed governor. Riad Salameh made his comments to Reuters in response to news that a non-profit organization Sherpa and a group of lawyers had filed a legal complaint to France’s financial prosecutor against him over alleged corruption...