This is Beirut

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

This is Beirut, 14:15 - Reading : 2 minute(s)

European Union Volodymyr Zelensky Banks Kyiv Turkey

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

Salam El Zaatari, 27/03 09:30 - Reading : 3 minute(s)

Lebanon Banks Central Bank Economy

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

Liliane Mokbel, 26/03 10:30 - Reading : 2 minute(s)

Banks Central Bank of Lebanon

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?

Hussain Abdul-Hussain, 25/03 15:30 - Reading : 5 minute(s)

Lebanon Hezbollah Banks Parliament

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 ...

Palestinians Denounce Israeli Recognition of New West Bank Settlements

This is Beirut, 23/03 18:08 - Reading : 2 minute(s)

Banks European Union Israel West Bank

The Palestinian foreign ministry condemned on Sunday an Israeli decision to recognize more than a dozen new settlements in the occupied West Bank, upgrading existing neighborhoods to independent settlement status. The decision by Israel's security cabinet was a show of "disregard for international legitimacy and its resolutions," ...

Sudan Army Says Retakes Central Bank After Palace Recapture

This is Beirut, 22/03 11:45 - Reading : 1 minute(s)

Banks

Sudan's military said Saturday it seized several key buildings in central Khartoum, including the central bank, from the paramilitary Rapid Support Forces, following its recapture of the presidential palace. "Our forces achieved further success last night, eliminating hundreds of militia members who tried to escape through pockets in central ...

Salam Says There Will Be No Bank Deposit Haircuts

This is Beirut, 21/03 17:35 - Reading : 2 minute(s)

Banks International Monetary Fund Hezbollah Saudi Arabia

Prime Minister Nawaf Salam stated on Friday that “there will be no suppression of bank deposits,” and that he would “cross out the term ‘suppression of deposits,’” in a meeting at the Serail with a delegation from the Council of Lebanese Executives in Saudi Arabia. He added that his government’s objective is be to “return” the ...

Stock Markets Retreat on Revised US Economic Outlook

This is Beirut, 20/03 13:00 - Reading : 3 minute(s)

USA Donald Trump Banks Europe

Major European and Asian stock markets retreated Thursday following a weaker-than-forecast US economic outlook and despite the Federal Reserve trying to calm fears over President Donald Trump's tariffs. Fed boss Jerome Powell on Wednesday suggested that any increase to consumer prices caused by tariffs would likely be short-lived, even as the ...

The Public Appointment Mechanism: An Overview

This is Beirut, 17/03 20:15 - Reading : 3 minute(s)

Banks Central Bank of Lebanon

This is Beirut has reviewed a copy of the document outlining the mechanism set by the Council of Ministers for public appointments. According to Minister of Information Paul Morcos, this document is a preliminary draft that is expected to be finalized and approved by the Cabinet on Thursday. Here are the main points. The process is primarily ...

Moody's upgrades Greece credit rating, outlook stable

This is Beirut, 15/03 09:40 - Reading : 2 minute(s)

Banks European Union International Monetary Fund

Ratings agency Moody's on Friday upgraded Greece's credit rating, pulling the country out of junk territory after its years of struggling to recover from a debt crisis. Along with the ratings elevation from Ba1 to Baa3, Moody's changed its outlook for Greece from positive to stable. The other two major ratings agencies, S&P and ...

Kulluna Irada: Millions Spent on Elections and Ongoing Budget Falsification

This is Beirut, 15/03 08:15 - Reading : 3 minute(s)

Lebanon Economy Banks

On the surface, there is an intention to build a nation based on institutions, transparency and proper governance. However, in reality, Kulluna Irada has become nothing more than a breeding ground for theft, corruption, deception and falsification, all with destructive objectives for the country. The association, which was originally tasked with ...

IMF Mission Concludes Meetings in Beirut

Maurice Matta, 13/03 22:40 - Reading : 3 minute(s)

International Monetary Fund Banks Joseph Aoun Banque du Liban Washington

Finance Minister Yassine Jaber made reassuring remarks regarding negotiations with the International Monetary Fund (IMF) following an extensive meeting held at the Ministry of Finance with the IMF mission. During the meeting, Jaber affirmed that the elimination or partial deduction of bank deposits is a sovereign and national decision, ...