This is Beirut, 2024-12-09 16:45 - Reading : less than a minute
Syria's central bank said Monday depositors' funds in the country's lenders were "safe" after rebels took the capital, and following chaotic scenes near some official institutions. "We assure our fellow citizens dealing with all operating banks that their deposits and funds at these banks are safe and have not been and will not be exposed to any ...
This is Beirut, 2024-12-06 10:40 - Reading : 2 minute(s)
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The World Bank announced Thursday that it had raised close to $24 billion to provide loans and grants for some of the world's poorest nations, which it can leverage to generate a record $100 billion in total spending power. Donor countries committed $23.7 billion to replenish the bank's concessional lending arm, known as the International ...
Maurice Matta, 2024-11-30 09:00 - Reading : 5 minute(s)
On October 25, Lebanon was officially placed on the gray list of the Financial Action Task Force (FATF), subjecting the country to enhanced monitoring. The FATF report highlighted ongoing vulnerabilities in Lebanon’s efforts to strengthen measures against money laundering and terrorism financing. A key point in the report was FATF’s ...
Natasha Metni Torbey, 2024-11-29 17:25 - Reading : 4 minute(s)
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The end of hostilities between Hezbollah and Israel raises a critical question for the Lebanese: who will bear the financial responsibility for rebuilding the villages and cities devastated by the conflict? In a country already mired in an unprecedented economic and political crisis, options are both limited and complex. Several actors could ...
This is Beirut, 2024-11-29 15:40 - Reading : 2 minute(s)
Israel extended for one year a waiver allowing Israeli banks to work with Palestinian ones just days before it was due to expire, threatening to paralyse Palestinians financial institutions. The extension was approved Thursday during a security cabinet meeting ahead of expiration of the waiver at the end of the month, a spokesman for far-right ...
This is Beirut, 2024-11-29 13:15 - Reading : 3 minute(s)
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The yen rallied Friday after forecast-busting inflation data out of Tokyo boosted talk of another Japanese interest rate cut next month, while equity markets were mixed as traders weigh the economic outlook during a second Trump administration. With Wall Street closed for the Thanksgiving break, there were few catalysts to drive business heading ...
This is Beirut, 2024-11-21 18:15 - Reading : 1 minute(s)
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The United States unveiled sanctions on dozens of Russian banks Thursday, including the largest remaining one yet to face such action, over the war in Ukraine. The move taking aim at financial institutions and officials "will further diminish and degrade Russia's war machine," Treasury Secretary Janet Yellen said in a statement. "This sweeping ...
This is Beirut, 2024-11-17 11:50 - Reading : 4 minute(s)
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Lina al-Khalil has fled her south Beirut home to escape escalating Israeli attacks on Hezbollah, but she still returns daily to the bombarded area to keep the family business running. "It's more important than my house," said the pharmacist, in her 50s, of the business she inherited from her father in Haret Hreik, a southern suburb ...
Liliane Mokbel, 2024-11-14 11:25 - Reading : 5 minute(s)
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While the dollar’s value is primarily shaped by US domestic factors, its fluctuations continue to ripple through the global economy. A 2023 International Monetary Fund (IMF) study found that the negative impact of a strong dollar tends to last around two and a half years in emerging markets, compared to just one year in developed economies. The ...
This is Beirut, 2024-11-12 17:55 - Reading : 1 minute(s)
Banks Central Bank of Lebanon Depositors
According to reliable sources, This is Beirut has learned that, in the coming months, the Central Bank (BDL) plans to continue providing two monthly payments instead of one to the beneficiaries of circulars 158 and 161, which allow exceptional withdrawals in fresh dollars. The BDL has decided to respond to the current critical situation by ...
Maurice Matta, 2024-11-12 14:50 - Reading : 4 minute(s)
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Cryptocurrency investors are buoyed by Donald Trump’s re-election and Republican control of the US Senate, given his support for digital assets. Many expect that the sector would benefit from a more favorable regulatory environment under a second Trump term. During the Bitcoin 202 conference, Trump pledged that, if he were to return to the White ...
This is Beirut, 2024-11-12 13:20 - Reading : 2 minute(s)
Iranian bank cards can now be used in Russia, state television reported, as the two countries linked their banking systems in the latest bid to counteract sanctions. Iranian banks have been excluded since 2018 from the SWIFT international financial messaging service, which governs the vast majority of transactions worldwide. The move is part of ...