Posted By
Najib
Sep 28, 2022 05:40
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 of October. Today's black market exchange rate stands at LL 38,000 so I am not really sure how realistic this LL 15,000 rate is. We will wait and see how the government or the Central Bank will justify this new…
Posted By
Najib
Sep 23, 2021 03:40
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. According to Bloomberg, the consumer price index rose to 137.8% from a year earlier in August, compared with 123.4% in July, according to the Lebanon Central Administration of Statistics. Consumer prices rose 10.25% from a month earlier while food prices…
Business
2 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
3 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
3 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
3 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
3 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
3 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 ...
Advertising
3 years ago
It goes without saying that non-cash payments are on the rise worldwide and I’ve witnessed that first hand ever since I moved to Montreal back in December. In fact, after enabling Apple Pay and installing ...
Business
3 years ago
Mabrouk! We’re three spots away from the lowest ranking awarded by Moody’s. Yesterday, Moody’s Investors Service has downgraded the Government of Lebanon’s issuer ratings to Caa1 and changed the outlook from negative to stable. Here’s ...
