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

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…

#JobsforLebanon: Make Lebanon Work

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 this year, Jobs For Lebanon was created to enable the 16 million Lebanese across the world to create new job opportunities and recruit local talent. The aim in is to help talented and skilled workers now stuck at home with…
Business

Fitch Ratings downgrades Lebanon To CCC from B-

2 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

2 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

2 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

2 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

2 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

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

2 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

Moody’s Downgraded Lebanon’s Credit Rating To Caa1

2 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 ...
Business

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

2 years 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 ...
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