This Is Beirut 2024-03-15 15:29 - Reading : less than a minute
British telecoms giant Vodafone said on Friday that it agreed to sell its Italian unit to Swisscom for eight billion euros in cash, completing efforts to overhaul the UK group's European operations. "Swisscom's purchase of Vodafone Italy and to merge it with its Italian subsidiary, Fastweb, creates a strong contender in the most challenging telco ...
This Is Beirut 2024-03-14 21:14 - Reading : 1 minute(s)
The quarterly index published by Fransabank and the Beirut Traders Association (BTA) to measure activity in the retail sector showed a sharp decline in performance in the fourth quarter of 2023, due to regional events and their direct impact on economic activity in general and commercial activity in particular. The index took a new starting point ...
This Is Beirut 2024-03-14 18:43 - Reading : less than a minute
As part of his tour aiming to ensure the sustainability of housing loans for low and middle-income Lebanese, Chairman of the Board of Directors and General Manager of the Banque de l'Habitat (BDH) Antoine Habib discussed with the Qatari Ambassador to Lebanon, Sheikh Saud bin Abdul Rahman bin Faisal Thani Al Thani, the possibility of cooperation ...
Liliane Mokbel 2024-03-13 20:57 - Reading : 4 minute(s)
Rehabilitation of the Beirut port: France has honored its commitments to provide technical support. It is now up to Lebanon to take action. The ball is in its court. All hopes are now permitted for a prosperous future for the Beirut port, especially since "a journey of a thousand miles begins with a single step," as the Chinese philosopher Lao ...
Nicolas Sbeih 2024-03-13 20:36 - Reading : 5 minute(s)
Yes, indeed, we also have our sacred cows, those perpetual taboos that must never be tampered with, those economic incests of the sphere of power. To illustrate this sacred herd, here is a small sample that is far from exhaustive. 1- The Gold. Every so often, we proudly boast that the Central Bank (BDL) holds 288 tons of it (currently worth $17 ...
This Is Beirut 2024-03-13 16:33 - Reading : less than a minute
The Central Bank of Lebanon (BDL) issued a statement on March 13, 2024, highlighting its commitment to fostering international relations and enhancing cooperation with global markets. "Based on the policy of openness and development, the Head of Emerging Markets at Morgan Stanley London, Ralph al-Raheb, visited BDL and held a meeting with Acting ...
This Is Beirut 2024-03-12 14:37 - Reading : 1 minute(s)
Banking circles reject what is being circulated in some political meetings about nationalizing banks and scrapping bank deposits in a so-called “convincing way.” A financial official stresses the importance that “Lebanon adheres to private ownership and ensures the independence of the Banking sector.” He argues that the state is not ...
2024-03-12 10:45 - Reading : 3 minute(s)
The US Treasury, through a delegation visiting Beirut last week, urged Lebanon to undertake necessary structural reforms to receive aid, but primarily demanded to curb monetary flows passing through Lebanon and sent to organizations deemed as terrorist. A delegation from the US Treasury led by a senior official held talks last week, away from the ...
This Is Beirut 2024-03-11 15:51 - Reading : 1 minute(s)
The Ministry of Energy and Water announced that it will be injecting more than $500,000 into the public treasury, thereby securing additional revenue via a tender to clean up sewers and riverbeds. The Ministry organized a call for tenders on January 29, 2024, but the number of applicants was insufficient. After consultation with the Public ...
This Is Beirut 2024-03-11 14:36 - Reading : less than a minute
The Lebanese pound leads the list of the most devalued currencies this year, with a drop of over 83% against the US dollar, followed by the Nigerian pound, with a drop of around 42% since the start of 2024. According to the data from Bloomberg, the Egyptian pound also ranks third among the most devalued currencies, down 38.3% against the dollar ...
This Is Beirut 2024-03-08 23:41 - Reading : 2 minute(s)
On Friday, Bitcoin reached a new historic high, surpassing $70,000, driven by the growing risk appetite of investors who seem to overlook the scandals, bankruptcies, and colossal losses of recent years. Bitcoin soared to $70,085.85, a new peak since its creation, before experiencing a slight decline. The leading cryptocurrency exceeded its ...
Liliane Mokbel 2024-03-08 21:56 - Reading : 4 minute(s)
For those wondering when the bank dollar exchange rate is going to increase, it is becoming increasingly clear that it won't happen anytime soon. It's a complete mystery. The causes are many. The government, the Central Bank of Lebanon (BDL) and the Ministry of Finance continue to pass the blame, leaving depositors frustrated. None of them is ...