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US Slaps Sanctions on Dozens of Russian Banks over Ukraine War

This is Beirut, 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 ...

Beirut's Businesses Struggle to Stay Afloat under Bombardment

This is Beirut, 17/11 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 ...

Trump's Economic Policies and Lebanon's Dollar Crisis

Liliane Mokbel, 14/11 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 ...

Bank Depositors: The Central Bank Loosens Its Stance

This is Beirut, 12/11 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 ...

Bitcoin to Surge to $200,000, Trump to Make US Crypto Hub

Maurice Matta, 12/11 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 ...

Iran, Russia Link Bank Card Systems in Latest Move to Overcome Sanctions

This is Beirut, 12/11 13:20 - Reading : 2 minute(s)

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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 ...

Two Payments for Bank Depositors in November Instead of One

This is Beirut, 31/10 17:40 - Reading : less than a minute

Banks Central Bank of Lebanon Depositors Circular 158 circular 166

Beneficiaries of Central Bank (BDL) circulars 158 and 166 will receive two monthly payments for November instead of one, as announced by This is Beirut on Wednesday. Due to the “urgent circumstances” that Lebanon is currently experiencing, the BDL Central Council requested in a statement released on Thursday that banks provide two ...

Israel-Hezbollah Conflict: Lebanon's Staggering Loss Figures

Christiane Tager, 30/10 21:45 - Reading : 2 minute(s)

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Since the beginning of the conflict between Israel and Hezbollah on October 8, 2023, Lebanon has endured significant human and economic losses, further weakening a country that faces serious political and economic challenges. The impact of the persisting conflict is felt across all sectors. In an interview with This is Beirut, financial and ...

Bank Audi Quarterly Report: Economic Reality and Outlook in a War-Torn Lebanon

This is Beirut, 30/10 19:25 - Reading : 3 minute(s)

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Lebanon has suffered enormous human, material and economic losses due to the bombings, compounded by a massive wave of displacement not seen since the end of the Civil War in 1990. Most sectors of the Lebanese economy are currently stagnating, with significant declines in tourism and agriculture. The report indicates that the damages are colossal, ...

Depositors May Have Two Monthly Payments Instead of One!

This is Beirut, 30/10 12:15 - Reading : less than a minute

Banks Banque du Liban Central Bank of Lebanon

In the coming 48 hours, beneficiaries of Banque du Liban (BDL) Circulars 158 and 166, related to exceptional withdrawals of fresh dollars, will receive updates regarding potential amendments. A source close to the Central Bank has indicated that the number of monthly payments available to eligible depositors will be reduced to two, instead of the ...

Saudi ‘Davos in the Desert’ Opens With Region on War Footing

This is Beirut, 29/10 12:10 - Reading : 4 minute(s)

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Global business leaders gathered in Saudi Arabia on Tuesday for a glitzy investor forum as conflict shakes the region and scepticism mounts over the Gulf kingdom's most ambitious development projects. The Future Investment Initiative (FII) debuted in 2017 as a showcase for de facto ruler Crown Prince Mohammed bin Salman's dream of diversifying ...

International Outcry as Israel Bans UNRWA

This is Beirut, 29/10 09:25 - Reading : 3 minute(s)

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Israel's parliament on Monday approved a bill banning the main UN aid agency for the war-devastated Gaza Strip, sparking international outcry. Despite objections from the United States and warnings from the UN Security Council, Israeli lawmakers overwhelmingly passed the bill banning the United Nations agency for Palestinian refugees, UNRWA, ...

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