Posted By
Najib
Feb 13, 2025 03:46
BDL published its latest balance sheet on January 31, 2025, where it reported an increase in the country’s gold reserves from $24.7 billion in mid-January to $25.7 billion on January 31. In comparison, Lebanon's gold reserves were valued at only $15 billion by the end of 2019. While this increase will have a positive impact on Lebanon's balance of payments, it doesn't fully explain why the country holds so much gold. In fact, Lebanon has…
Posted By
Najib
Oct 25, 2024 06:40
The Financial Action Task Force has officially added Lebanon to its grey list, which means that Lebanon will become under increased monitoring for its financial practices and compliance with international standards for combating money laundering and terrorism financing. According to Reuters, "the war had led the FATF to give Lebanon until 2026 instead of 2025 to address the issues that led to its grey-listing, including concerns over terrorism financing and a lack of judicial independence".…
Business
2 years ago
According to World Bank’s latest Food Security Update report, Lebanon has the highest nominal inflation rate in the world at 139% followed closely by Zimbabwe at 138% and Argentina at 108%. The food inflation rate ...
Baladi
2 years ago
Patrick George, a Lebanese expat and Concordia graduate, kicked off his banking career with a Lebanese private bank (FFA Private Bank) in 1994 before moving to HSBC in 1996 to manage the Emerging Markets Equities ...
Business
2 years ago
Reuters reported today that the Lebanese Central Bank is set to drop the 1,507 rate that has been used since 1997 and replace it with LL 15,000 for every 1 U.S dollar by the end ...
Business
3 years ago
Remember how everyone was dismissing the Venezuela scenario a year ago? Well we officially surpassed Venezuela as having the highest annual inflation rate worldwide, but we’re still third overall in terms of inflation rate increase. ...
Business
4 years ago
In addition to the health pandemic that the World is suffering from, Lebanon has been going through a disastrous economic crisis with soaring unemployment rates and thousands of business closures. For that purpose and earlier ...
Business
5 years ago
Fitch Ratings downgraded Lebanon’s ratings to CCC from B-, while S&P gave us a grace period before eventually downgrading us. So we jumped from “B : financial situation varies noticeably” to “CCC : currently vulnerable ...
Business
6 years ago
In 2018, Lebanon’s national debt increased by $6.6 Billion Dollars, which amounts to almost $12,500 every minute. This year, the debt is expected to increase by $11 Billion Dollars, which means that that it will ...
Automotive
6 years ago
I heard rumors about this acquisition few months back and it looks like it’s finally happening. According to Bloomberg, Endadget and several other sources, “Uber is set to announce a $3.1 billion cash-and-share deal to ...
