List of Donors at the #CEDRE Conference

Lebanon received more than $11 billion between loans and grants at the CEDRE conference last week, in a bid to support development projects and reforms in the country. We were looking for investments between $16 and $17 billion for Phase I and Phase II of the Capital Investment Program that was being presented, so the outcome is rather positive and exceeded expectations. However, these billions don't really mean anything and will only increase our debts…

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…
Business

2017 Corruption Index: Lebanon Still Corrupt AF

3 months ago
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 ...
Business

Should Lebanese Banks Close on Saturdays?

4 months 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 ...
Business

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

5 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 ...
Business

Can McKinsey Help Revive Lebanon’s Economy?

5 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 ...
Business

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

5 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 ...
Business

VAT is Officially 11% Now in #Lebanon

5 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, ...
Business

Lebanon’s Central Bank Prohibits The Use of Bitcoin

6 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 ...
Business

Beirut Ranked 101st Most Stressful City in the World

8 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. ...
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