Banks

Lebanon’s $4.5 Billion Price Tag: The Hidden Cost of the Syrian War

Since 2011, hosting Syrian refugees has posed a severe economic challenge for Lebanon. According to the latest World Bank report, the direct annual cost of accommodating these refugees is estimated at around $4.5 billion. However, this figure only accounts for direct expenses. When indirect costs are included, the total cost rises to roughly ...

$257.8 Million for Water!

Minister of Finance Yassine Jaber, in the presence of Minister of Energy and Water Joe Saddi, signed a $257.8 million loan agreement with World Bank Regional Director Jean-Christophe Carret for the Greater Beirut Water Supply Project. The financing is aimed at improving water coverage for 1.8 million people, reducing dependence on costly private ...

BDL Issues Statement on Legal Measures and Financial Transparency

Lebanon’s Central Bank (BDL) announced in an official statement that it remains committed to transparency and integrity within the financial sector. It is actively pursuing legal procedures in collaboration with specialized law firms across several European countries and other international jurisdictions. This effort aims to initiate judicial ...

New and Simple Ways to Use Bitcoin

Let’s dive into the world of Bitcoin – a digital currency that is transforming global finance. Bitcoin (BTC) is much more than just a cryptocurrency: it is a decentralized currency, without a central bank or intermediaries, based on blockchain technology – a public and secure ledger. In other words, it’s money that never sleeps, doesn’t ...

Will Banking Reforms Spark a Crisis Between Souhaid and Salam?

It seems that the relationship between Banque du Liban (BDL) Governor Karim Souhaid and Prime Minister Nawaf Salam is far from ideal. In fact, it can be described as tense – a situation that didn’t arise recently but dates back to Souhaid’s appointment as Governor of the Central Bank, which was secured through a majority vote in the ...

Souhaid Attends Finance Committee Meeting on Bank Restructuring Law

Central Bank Governor Karim Souhaid took part in a session of the subcommittee of the parliamentary Finance and Budget Committee on Wednesday, where deliberations centered on the government’s proposed bank restructuring law. The meeting was held in the presence of Committee Chairman MP Ibrahim Kanaan, Minister of Finance Yassine Jaber and other ...

Markets rally after China, US slash tariffs

Stock markets, the dollar, and oil prices rallied Monday after the United States and China declared a 90-day truce in their trade war. At the opening bell in New York, the Dow jumped by 2.7 percent, the S&P 500 by 2.9 percent, and the tech-heavy Nasdaq Composite by 4.2 percent. "Stocks are surging, safe havens are rapidly ...

Basel: a City at the Heart of European Culture

With a population of 180,000, Switzerland's third-biggest city after Zurich and Geneva straddles the River Rhine and sits right on the northern border with both France and Germany. Basel's location played a major role in its growth and continental importance through the ages. From May 11 to 17, it will be a center-stage in Europe again as it ...

'Bombshell' OPEC+ Output Hike Hits Oil Price

Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water in thin trade with major markets closed. The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply. The ...

Stock Markets Edge up as Trump Softens Tariff Pain for Auto Firms

Stock markets advanced on Tuesday following news that Donald Trump plans to spare automakers from some of his wide-ranging tariffs, boosting hopes of a less combative approach to his trade war. Signs of easing trade tensions are also spurring sentiment, as governments line up to negotiate deals with Washington to avert the full force of sweeping ...

Farewell to Wads of Cash: Lebanon Unveils Banknotes of LBP 500,000 and 1 Million

After nearly six years of economic and financial turmoil, Lebanon has taken a long-anticipated step by issuing higher-denomination banknotes. Last Thursday, the Lebanese Parliament approved a draft law presented by MP Ziad Hawat, after nearly two years of legislative wrangling, granting the Banque du Liban (BDL) permission to issue notes of LBP ...