banks

UN Chief Says Gaza Transformed Into 'Killing Field'

United Nations Secretary-General Antonio Guterres said Tuesday that Gaza had become "a killing field," blaming Israel for blocking aid and failing in its "unequivocal obligations" to meet the needs of the Palestinian territory's residents. "More than an entire month has passed without a drop of aid into Gaza. No food. No fuel. No medicine. No ...

Council of Ministers Approves Draft Law for Bank Restructuring

Prime Minister Nawaf Salam chaired a session of the Council of Ministers on Tuesday morning, which was attended by Deputy Prime Minister Tarek Mitri and the Ministers of Finance, Yassine Jaber; Culture, Ghassan Salameh; Energy and Water, Joe Saddi; Tourism, Laura Lahoud; Social Affairs, Haneen Sayed; Foreign Affairs and Emigrants, Youssef Rajji; ...

PMI Drops to Five-Month Low amid Economic Instability

Lebanon’s Purchasing Managers’ Index (PMI), published by BlomInvest on Thursday, fell sharply in March 2025 to a five-month low, signaling deteriorating business conditions. The index registered 47.6 points, a significant drop from 55.5 in February, driven by declines in production and new orders. Ali Belbol, a senior economist and the head ...

Souhaid Unveils Roadmap as Central Bank Governor

The new governor highlighted several priorities: strengthening BDL’s governance, ensuring the return of deposits, restructuring the banking sector, and remaining open to all proposals aimed at resolving the banking system crisis. “Deposits are guaranteed, and their repayment must be managed through shared responsibility between the banks, BDL ...

Europe Markets Extend Losses After Tariff Rout

European equities opened in the red on Friday, extending losses after US President Donald Trump's tariff offensive sparked a global stock market rout. Paris shed 0.9 percent to 7,533.26 points, Frankfurt fell 0.7 percent to 21,566.33 and London also dropped 0.7 percent to 8,416.32. Trump's harsher-than-expected "Liberation Day" levies sent ...

Trump's New Tariffs: A Storm Brewing in Troubled Waters

President Donald Trump's recent decision to impose historic tariffs on 185 countries and territories, announced on Thursday, has reverberated across the global economy. The repercussions of these tariffs will be felt worldwide, with Arab countries being especially impacted. Among the hardest-hit nations are Syria, Iraq, Libya, Algeria and Tunisia, ...

Judges and BDL Governor Take Oath at Baabda Palace

Three newly appointed judges and Lebanon’s new Central Bank (BDL) governor took their oaths of office on Thursday at Baabda Palace before President Joseph Aoun. Judges Judge Jamal al-Hajjar, Public Prosecutor at the Court of Cassation and Vice President of the Supreme Judicial Council, was sworn in alongside Judge Youssef al-Jamil, President ...

Israel Approves New Bypass Road in Occupied West Bank

Israeli Prime Minister Benjamin Netanyahu's office on Sunday announced the approval of a road project in the occupied West Bank that would separate traffic for Palestinians and Israelis near the Maale Adumim settlement. "The security cabinet approved last night Defense Minister Israel Katz's proposal for the construction... of a new road network ...

Kremlin: EU Refusal to Ease Russia Sanctions Shows it "Doesn't Want Peace"

The Kremlin said Friday that the EU's refusal to ease sanctions on Russia shows the bloc does not want peace in Ukraine. Moscow is demanding the West remove sanctions on Rosselkhozbank -- the Russian Agricultural Bank -- as a precondition to restoring a deal on the safe passage of Ukrainian cargo in the Black Sea. "An integral part of the Black ...

Lebanon's Central Bank Dilemma: Between Collapse and Recovery

Imagine a ship caught in a storm – battered, leaking and listing dangerously – while its crew argues not over how to navigate to safety, but whether to abandon ship entirely or simply repaint the deck. This is Lebanon today: a country sinking under the weight of a financial collapse, and yet, paralyzed by a bitter ideological struggle over ...

These Banknotes Aren’t So Green After All

The local market is flooded with US dollar bills of all denominations – $5, $10, $20, $50 and $100 – showing various signs of wear: stained, damaged, torn, creased, faded, and sometimes even patched with tape. But are these bills still valid? In a country where the economy is almost entirely dollarized, the high demand and intense ...

Who Destroyed Lebanon: Hezbollah or the Banks?

A “bloc” of lawmakers, political parties, media outlets, and non-governmental organizations are peddling a platform that distracts attention from the paramount importance of disarming Hezbollah and instead blames banks for the utter misery that Lebanon finds itself in. Such an argument is either too dumb, or its proponents are too ...