Iraq will negotiate in the coming days with U.S. companies to buy U.S. rice, the trade ministry. The ministry also contracted to buy 200,000 tons of locally produced sugar and 71,000 tons of locally produced vegetable oil, it said in a statement. Read More »
The Cyprus government deposited Tuesday 2.5 billion euros ($3.1 billion) into the island-nation’s troubled Cooperative Bank in an attempt to dispel any uncertainty over its future. Government Spokesman Prodromos Prodromou said he hoped the deposit, mainly in the form of a bond issue, aimed to protect savers and quash any ... Read More »
Asian markets plunged overnight following the lead of the Dow Jones which registered its largest points fall in history Stock markets across Europe are bracing themselves for big falls after what was described as “carnage” in indexes across Asia overnight. Falls in Japan and Australia were prompted by a ... Read More »
Some bankers said Thursday they do not object to the idea of confining cash withdrawals from ATMs to Lebanese currency only, disputing claims that such a proposal would cause a panic in the market. “There was an idea to promote the Lebanese pound notes and that the ATMs will only ... Read More »
The Sidon Municipality received $1 million from the Beirut Municipality to assist the city in managing waste from the capital. Beirut Mayor Jamal Itani denied the municipality had “given” Sidon $1 million but said it was to cover the costs of Beirut’s waste. “As part of the plan by Cabinet ... Read More »
Proposals to expand the Rafik Hariri International Airport in Beirut will cost at least $200 million, representatives of Middle East Airlines and an Arab contractor and consulting firm told the prime minister Tuesday. During the meeting with Prime Minister Saad Hariri, Dar al-Handasah (Shair & Partners) consultancy proposed a plan ... Read More »
Lebanon was chosen as the Middle East and North Africa regional headquarters for the China Council for the Promotion of International Trade, Lebanon’s Foreign Ministry announced Tuesday. Lebanon was chosen due to its strategic location, free economy and openness to investment, according to the statement. “CCPIT has 30 representative offices ... Read More »
After better than expected growth in the global economy, Bank says financial markets are vulnerable to unforeseen negative news Financial markets are complacent about the risks of sharply higher interest rates that could be triggered by better than expected growth in the global economy this year, the World Bank ... Read More »
Prime Minister Saad Hariri is slated to speak Friday night during an economy-focused forum at BIEL. Hariri is set to deliver a speech during the official dinner held at 8 p.m. on the occasion of launching the Lebanese National Energy forum. The forum titled “The Drive of the Economy” will ... Read More »
Finance Minister Ali Hasan Khalil Wednesday pledged to crack down on corruption in the ministry’s real estate department and vowed to deliver the 2018 draft budget to Parliament for approval. The minister made the remarks during the opening of the Finance Ministry’s new online real estate service, which was launched ... Read More »
Lebanese Ministry of Information