banks

EBRD Launches New SME Support Programs in Tripoli

The Lebanon office of the European Bank for Reconstruction and Development (EBRD), in collaboration with the Chamber of Commerce, Industry and Agriculture of Tripoli and the North, and the Business Incubation Association in Tripoli (BIAT), held a session this week to present its latest consulting programs for small and medium-sized enterprises ...

Amendments to Banking Secrecy: The Danger of Retroactive Effect!

The joint parliamentary committees are currently discussing the draft law amending banking secrecy. The version approved by the government is under review and modification in Parliament. This amendment — referred from the government to Parliament by Decree No. 103 — is the second in just three years. In 2022, the banking secrecy law ...

Europe Seeks to Break its US Tech Addiction

With President Donald Trump more unpredictable than ever and transatlantic ties reaching new lows, calls are growing louder for Europe to declare independence from US tech. From Microsoft to Meta, Apple to Uber, cloud computing to AI, much of the day-to-day technology used by Europeans is American. The risks that brings were hotly debated before ...

Stocks Rise on Bank Earnings, Auto Tariff Hopes

Stock markets rose Tuesday as investors digested strong bank earnings and shares in several auto giants surged over hopes of tariffs relief from US President Donald Trump. Some stability has returned to markets after last week's roller-coaster ride over Trump's stop-start tariff announcements, but uncertainty remains over speculation of new ...

Rasamny Aims to Strengthen Lebanon’s Key Infrastructure

In an interview with Al-Anbaa newspaper, Minister of Public Works and Transport Fayez Rasamny affirmed that the security of Beirut International Airport (BIA) is a national priority, emphasizing that all current security measures are managed exclusively by the competent Lebanese authorities. He stated that this commitment is reflected in ...

Council of Ministers Approves Draft Law on Banking Sector Restructuring

The Council of Ministers approved the draft law for reforming and restructuring the banking sector in a cabinet session headed by Prime Minister Nawaf Salam, held at the Grand Serail on Saturday. The Council examined ten clauses from the draft law for banking sector reform, which includes 39 clauses in total. After the session, Minister of ...

Dollar Plunges, Stocks Wobble Over Trade War Turmoil

Investors dumped US government bonds, the dollar tumbled and stocks seesawed Friday, capping a volatile week as President Donald Trump's unpredictable tariff policy rattled market confidence. Trump triggered a massive market sell-off last week by announcing universal tariffs, and this week he sparked a huge but short-lived rally by pausing higher ...

Before Restructuring Banks, the Government Must Acknowledge the Systemic Crisis

Lebanon’s Cabinet approved on Tuesday the statement of justification for the draft law on the reorganization of banks, with a follow-up session scheduled for Friday to finalize the text. The initiative is framed by two core principles the government says it upholds: safeguarding depositors’ rights and revitalizing the banking sector so it can ...

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 ...