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

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 not apply to bank transfers but to international money transfers sent through companies like OMT and Moneygram. With the way things are going, you can expect further drastic measures in the coming future if we fail to form a government…

The McKinsey Report for #Lebanon is Out!

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 can download it . I haven't had the chance to read it yet but what I find weird is the timing of its publishing as Caretaker Economy Minister Raed Khoury said he won't be publishing it before the new government…
Business

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

1 month 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

2 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 ...
Business

Around 50% of Gas Stations in #Lebanon Don’t Have a License

3 months ago
The Syndicate of Gas Station Owners estimated the number of unlicensed gas stations in #Lebanon to be around 1,500, out of 3,000 gas stations across the country. “Less than half of the gas stations are ...
Business

Inflation at 7.6%, Highest Level in Five Years in #Lebanon

4 months ago
The Consumer Price Index is still on the rise in Lebanon, standing at 7.6% in July which is the highest recorded level in the past five years. Food and non-alcoholic beverages prices rose by six ...
Business

List of Donors at the #CEDRE Conference

9 months ago
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 ...
Baladi

EBRD Injects Confidence in Lebanese Financial Sector with Acquisition of 2.51% of Bank Audi’s Total Common Shares

10 months ago
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 ...
Business

2017 Corruption Index: Lebanon Still Corrupt AF

10 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?

11 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 ...
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