Banks gave the least needy Central Bank interest-free loans
Figures published by the Central Bank (BDL) confirmed that banks have not properly complied with Circular 552 that required them to cover overdue debt payments as well as payments of salaries and operational expenses by distressed clients during the four-month period March-June 2020.
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UNESCO launches Literacy Assessment of Syrian Youth Refugees in Lebanon
NNA - On the occasion of Literacy day this year (September 8), UNESCO is pleased to launch the Syrian Youth Literacy Assessment Survey (SYLAS) report, a study conducted in Lebanon in 2019 by UNESCO and UNHCR and funded by the Kuwait Foundation for the Advancement of Sciences (KFAS).
Literacy is important in today’s world. It"...
Beirut in Race to Save Heritage before Rain Returns
Beirut has only 'days' left to preserve damaged heritage buildings before the rain finishes off the destruction caused by the August 4 port blast, Lebanon's antiquities chief warned Tuesday.
'There are 100 historical buildings that need covering before the rain,' said Sarkis Khoury, head of the Lebanese Directorate"...
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Flowserve Corporation Announces Commencement of Tender Offer for Its 1.250% Senior Notes Due 2022
Flowserve Corporation (NYSE: FLS) (the “Offeror”), a leading provider of flow control products and services for the global infrastructure markets, announced an offer to purchase for cash (such offer, the “Offer”) any and all of its outstanding 1.250% Senior Notes due March 17, 2022 (the “Notes”) from the holders of the Notes (each, a “Noteholder” and, collectively,"...
Mitsubishi Motors forecasts full-year loss due to falling car sales
TOKYO: Japan’s Mitsubishi Motors Corp. on Monday forecast an operating loss of ¥140 billion ($1.33 billion) in the year to March as the automaker battles a fall in demand for cars due in part to the coronavirus pandemic.
Japan’s No. 6 automaker anticipates its biggest operating loss in at least 16 years, according to Reuters data, just as it embarks on a plan to shrink its workforce and"...
Bosch creates single unit to oversee software, systems development
Gerlingen, July 21 (BNA): Germany’s Robert Bosch GmbH, the world’s largest auto parts supplier, said on Tuesday it is consolidating its software and electronics expertise in a single division, in order to get new digitalized vehicle functions on the road significantly faster.
Bosch"...
Lebanon’s pound falls again as govt formation hits new snags
Currency exchangers were selling the dollar for LL7,700 and buying it for LL7,500 about twice the rate of LL 3800 set by Lebanon’s central bank
This development comes after PM Designate missed the deadline in announcing the formation of his new cabinet.
In"...
