A $650 million Lebanese Eurobond that matured on May 20 was repaid with financing from the Central Bank, local media reported Tuesday.According to sources, the finance ministry received funding from the central bank to meet the payment.
The government has no choice but to implement painful fiscal reforms that involve cutting the salaries and benefits of civil servants and government retirees as well as cracking down on rampant tax evasion, an economist and a leading international institution said.
The economic slowdown, a slump in property prices, lucrative interest rates on deposits and a shortage of liquidity in the stock exchange have all contributed to the decline of Solidere shares to record lows in the past two weeks, brokers said Friday.
Lebanon can afford to wait to issue between $2.5 billion to $3 billion in Eurobonds until the market conditions are ripe but the government will definitely not miss the $650 million Eurobonds which mature early next week, a banking source said.
Lebanon is in no rush to close a deal to issue $2.5 billion to $3 billion in Eurobonds and can do so later when emerging markets have more appetite and local...
President of the Banking Control Commission Samir Hammoud Wednesday described Lebanon’s cash position as “stable,” after briefing President Michel Aoun on the...
A high-level Lebanese banking delegation said that all the U.S. officials they met in Washington and New York have expressed deep satisfaction for the...
Telecommunications Minister Mohamed Choucair Tuesday announced a series of measures designed to cut costs and increase revenues at the Telecommunications...
Turkey’s Trade Ministry will implement a reciprocal reduction in tariffs on U.S. imports this week, after the United States halved tariffs on Turkish steel...
Saudi Arabia’s Public Investment Fund has attracted only tepid interest in plans for its latest multibillion-dollar debt sale, banking sources say, suggesting...
Nike Inc., Adidas AG and other footwear companies urged U.S. President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would...
The OECD Tuesday cut its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the U.S.-China trade war...
International investment bank Goldman Sachs has hailed the endorsement of Lebanon’s electricity plan, but underlined the importance of implementing wide...
The Energy Ministry is expected this week to extend the May 20 deadline for reviewing and selecting a consortium to build liquefied natural gas terminals that...
Lebanese investors acquired 73 percent of the small-sized Banque de Credit National for $30 million. The bank confirmed the acquisition in a statement without...
A leading Lebanese banker warned Friday of grave consequences for the national economy, depositors and the banking sector in general if the government insists...
The U.S. State Department’s Middle East Partnership Initiative awarded $1.5 million to researchers at the American University of Beirut’s Olayan School of...
Cabinet approves increase of tax on interest rate on deposits from 7 to 10 pct for 3 years
Proposed cuts to the Central Bank’s budget negatively affect Lebanon's economy, Bank of Beirut Chairman and CEO Salim Sfeir said Friday.
Biometric technology company Zwipe and Inkript, a digital security provider and subsidiary of Beirut-based Resource Group, have partnered to launch biometric...
The Central Bank is preparing a bond debt replacement in Lebanese currency with a lower interest rate that would cut debt servicing by between LL1.1 trillion...
Lebanon has ample choices and alternatives to boost the state’s revenues and cut the deficit without the need for “harmful measures,” Bank Audi said in its...
Panic eased among Lebanese commercial banks and financial markets as operations gradually returned to normal after Banque du Liban staff put their strike on...
Lebanon’s Cabinet may find it hard to convince the population to swallow the pill of “painful and unpopular” reforms, but anything short of hard financial...
Lebanon’s private sector performance improved slightly in April but remained below the average acceptable ceiling of 50, according to BLOMINVEST PMI Tuesday.
The Beirut Stock Exchange said Monday that it had suspended its operations until further notice after a strike by Central Bank employees left it unable to...
Beirut’s airport saw a nearly 12 percent increase in traffic in April compared with a year earlier, the state-run National News Agency reported Saturday.
Bank Audi Egypt, a fully-owned subsidiary of Bank Audi, announced Sunday that on May 2 it entered into an agreement with the National Bank of Greece to...
Interpol seems to have a crime problem.
An Italian-Lebanese joint-venture that will manufacture and export high-quality electric and electronic products opened its factory in Zahle Friday.
Consumers in many countries grew used to ordering goods and services online long ago, conjuring up food, clothing, rides, and even helpers to run their...
Lebanon and Egypt signed Friday four memos of understanding and trade agreements in a bid to strengthen economic ties between the two countries.
Prime Minister Saad Hariri said Thursday that Lebanon should follow the example of Egypt in economic and financial reforms, as a leading banker warned against...