Lebanon Downgraded to C from Ca, Lowest Grade by Moody’s

Moody's has lowered Lebanon's credit score to C, which is the same level as Venezuela. Obligations rated C are the lowest-ranked class of bonds and are typically in default, with little prospect for recovery of principal and interest. The downgrade reflects Moody’s “assessment that the losses incurred by bondholders through Lebanon’s current default are likely to exceed 65%". In the mean time, the government has yet to present serious economic and fiscal policy reforms, and…

Dr. Fady Gemayel Elected President of The European Federation of Corrugated Board Manufacturers

Fady Gemayel, co-owner and honorary chairman of Gemayel Freres S.A.L., a leading corrugated cardboard company in Lebanon, has been elected as the new FEFCO president for a two-year term. The Brussels-based corrugated packaging industry association is "a non-profit organisation representing the interests of the industry across Europe and addressing a wide range of issues, from technical topics to economical questions". Dr. Gemayel is also president of the Association of Lebanese Industrialists and has been fighting…

All Official Customs Data From 2011-2019 in One Dynamic Chart

7 months ago
If you’re still wondering why we need that many dollars to import stuff? And why prices of imported items are soaring in recent weeks? Check out this awesome chart created by Bassam Karam grouping all ...

Supporting Lebanon’s Struggling Hospitality Industry

7 months ago
I woke up today to the news that Le Bristol Beirut is shutting down after 70 years. Even though this was not confirmed yet by the hotel’s management, it goes without saying that Lebanon’s hospitality ...

#JobsforLebanon: Make Lebanon Work

7 months 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 ...

With BDL’s Latest Circular, We Now Have Four Lebanese Lira Rates

7 months ago
Leave it to the BDL geniuses to figure out new ways to screw us over while pretending to “facilitate” cash withdrawals for people. It took me a couple of hours today to understand the latest ...

Defaulting is Imminent

9 months ago
Moody’s downgraded in the last few days Lebanon’s government issuer ratings from Caa2 to Ca, which translates to “Judged to be highly speculative and with likelihood of being near or in default, but some possibility ...

2019 Corruption Index: Lebanon Ranked 137 Out of 180

10 months ago
“Nearly one in two people in Lebanon is offered bribes in exchange for their votes, while more than one in four receive threats if they don’t vote a certain way”. [Full Report] I think this ...

A Saudi-like Shisha-Tax Could Work in Lebanon

1 year ago
Saudi Arabia implemented last week a highly controversial Shisha tax that is angering a lot of people online. To sum it up, you get taxed 100% on your bill at any Shisha cafe or restaurant ...

2019 Mercer Report: Beirut 53rd Most Expensive City WorldWide, Fourth Among Arab Countries

1 year ago
Mercer’s 2019 Cost of Living Survey ranked Beirut as the 53rd most expensive city in the world, and fourth among Arab cities after Dubai (#21), Abu Dhabi (#33) and Riyadh (#35). “Mercer’s widely recognized survey ...