Lebanon has The World’s Highest Nominal Inflation Rate at 139%

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 for each country "is based on the latest month from October 2022 to January 2023 for which the food component of the Consumer Price Index and overall CPI data are available. Real food inflation is defined as food inflation minus…

HSBC Appoints Lebanese Patrick George as Head of Markets & Security Services

Patrick George, a Lebanese expat and Concordia graduate, kicked off his banking career with a Lebanese private bank in 1994 before moving to HSBC in 1996 to manage the Emerging Markets Equities product covering Eastern Europe, Middle East and North Africa. Patrick then took over several positions at HSBC, mainly as Global Head of Equities, responsible for all Equity-related Sales, Trading and financing activities from 2008-2016 and Global Head of Markets & Securities Services ,…
Business

15,000 LBP is The New Official Exchange Rate?

1 year 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

Lebanon’s Annual Inflation Rate is The World’s Highest

2 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

#JobsforLebanon: Make Lebanon Work

3 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

Fitch Ratings downgrades Lebanon To CCC from B-

4 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

Lebanon’s Debt Increases $21,000 Every Minute

4 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

Uber Set to Buy Careem

4 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 ...
Business

LCPS 2018 Report: 95% of Lebanese Think We’re Headed in The Wrong Direction

4 years ago
The Lebanese Center for Policy Studies (LCPS) released its Feb 2019 report and revealed some interesting finds after conducting a survey back in October 2018 with 1,200 respondents. According to the repot, The survey was ...
Business

Lebanese Candidate Ziad Hayek to Challenge U.S. President Trump’s Choice

5 years ago
World Bank elections are nearing and Lebanon has put forward a candidate that may challenge U.S. President Trump’s Choice David Malpass. In fact, the status-quo in picking the world bank president, which relied on a ...
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