EBRD Injects Confidence in Lebanese Financial Sector with Acquisition of 2.51% of Bank Audi’s Total Common Shares

These days, most of the news surrounding Lebanon’s economy and financial sector are dire warnings for a Greece-like meltdown in Lebanon, the world’s third most indebted country. This is why the European Bank for Reconstruction and Development announcement this afternoon is so significant. The EBRD acquired 2.51% of Bank Audi’s total common shares. This is the first ever equity investment by the EBRD in the southern and eastern Mediterranean region. This demonstrates a confidence in…

2017 Corruption Index: Lebanon Still Corrupt AF

The 2017 Corruption Perceptions Index placed Lebanon at the 143rd spot out of 180 countries and 14th out of 20 countries in Middle East and North Africa. The report did state that Lebanon is taking small yet positive steps towards fighting corruption and increasing transparency and integrity, like the passage of the Access to Information Law, Lebanon joining the Extractive Industries Transparency Initiative and the ratification of the national budget for the first time since…

Should Lebanese Banks Close on Saturdays?

1 month ago
Lebanon’s official weekend holidays is still proving to be a hot topic in the country, as Lebanese banks may decide to close this coming Saturday and all Saturdays from now on. Previously, Fridays and Saturdays ...

#Lebanon Still Has Third Highest Debt-to-GDP Ratio in the World

2 months ago
Debt is not necessarily a bad thing when governments borrow to fund spending on infrastructure or hospitals and schools, which is clearly not happening in Lebanon. Still though, we have an increasing debt-to-GDP ratio at ...

Can McKinsey Help Revive Lebanon’s Economy?

2 months ago
Lebanons is hiring McKinsey & Co. to help restructure the economy and has apparently given the company half a million dollars in advance to kick off the study. The six-month agreement should kick off next ...

Holidays Tourists Spending Down by 30% in 2017, NYE Parties Booking Ratio Up to 80%

2 months ago
The Syndicate of Owners of Restaurants, Cafes, Nightclubs & Pastries in Lebanon stated a week ago that spending during the holidays has dropped by 30 to 40% this year when compared to last year. He ...

VAT is Officially 11% Now in #Lebanon

2 months ago
The increase in VAT from 10 too 11% officials went into effect yesterday on Jan 1st 2018. The 1% increase is expected to lead to a 5 to 7% increase in the prices of goods, ...

Lebanon’s Central Bank Prohibits The Use of Bitcoin

3 months ago
A friend posted yesterday about BDL’s ban of bitcoin in Lebanon so I remembered an old draft I had not published yet about that matter. One month ago, during the 7th CSR Lebanon Forum, Central ...

Beirut Ranked 101st Most Stressful City in the World

5 months ago
An online website (Zipjet) ranked the least and most stressful cities in the world using various factors such as green spaces, public transport, mental health, noise pollution, sunshine hours, air pollution, traffic and race equality. ...

12 Lebanese Women in Forbes’ Top 100 Most Powerful Arab Businesswomen 2017 List

8 months ago
The 2017 Forbes list of the 100 most powerful Arab Businesswomen is out and 12 Lebanese women made the list. Forbes collects information from annual reports and company websites and look at criteria such as ...