Lebanon’s Debt Increases $21,000 Every Minute

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 increase roughly by $21,000 every minute. If we look at January only, the national debt reached $85.32 billion — nearly 150% of the gross domestic product — an increase of $4.93 billion compared to January 2018. The reasons behind this…

Uber Set to Buy Careem

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 acquire its Dubai-based rival Careem Networks FZ as early as this week, according to people with knowledge of the matter." The deal should be announced by Tuesday according to the same source. However I am not really sure if the…
Business

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

3 months 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

4 months 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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Areeba’s Campaigns Promoting a #Cashless Culture in #Lebanon

4 months 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

Moody’s Downgraded Lebanon’s Credit Rating To Caa1

5 months 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 ...
Business

Latest Central Bank Circular: All Money Transfers from Abroad to be Paid out in LBP

5 months ago
Lebanon’s Central Bank issued a circular yesterday stating that all electronic money transfers from abroad be exclusively paid out in Lebanese pounds, in an attempt to limit the outpour of US dollars. The circular does ...
Business

The McKinsey Report for #Lebanon is Out!

5 months ago
The Ministry of Economy has uploaded the McKinsey full report entitled “Lebanon Economic Vision” on its website. It’s a 1274 pages long report with a long and comprehensive executive summary of around 150 pages. You ...
Business

Facebook appoints Lebanese Ramez Shehadi as its managing director for the MENA region

6 months ago
In a press release issued on November 20, Facebook has announced the appointment of Lebanese Ramez Shehadi, as its managing director for the Middle East and North Africa (MENA) region. Shehadi has been an outstanding ...
Business

World Bank Urging Lebanese Authorities To Form Government, Implement Reforms

7 months ago
We have the world’s third largest public debt-to-GDP ratio, fiscal and electricity reforms, which are seen as priorities ,are not in place yet; inflation is the highest in five years, projection for 2018 real GDP ...
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