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Dec 14

Trader widens legal threat against Lebanese bank over funds row

Trader widens legal threat against Lebanese bank over funds row

DUBAI: Oil trading company IMMS is considering launching more legal action against Lebanon’s BankMed, which it accuses of refusing to release funds on request.

In a statement to Arab News, IMMS said that"...

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Dec 09

Citi Private Bank Issues Outlook 2020: Global Growth Can Endure Over the Coming Year

Citi Private Bank Issues Outlook 2020: Global Growth Can Endure Over the Coming Year

Citi Private Bank today released its Outlook report for 2020, titled, “Staying Positive in a Negative (Yielding) World.” The twice-yearly publication provides in-depth insights into the global economy and financial markets for the coming year, and highlights important multi-year"...

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Dec 03

Lagarde cautious on climate role for ECB

Lagarde cautious on climate role for ECB

FRANKFURT — European Central Bank president Christine Lagarde told lawmakers Monday she was keen to weave thinking on climate change into the institution's work, but stressed its main task remains price stability.

'I am fundamentally convinced that fighting climate"...

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Dec 01

$1.5 billion Eurobond repaid by Central Bank

$1.5 billion Eurobond repaid by Central Bank

The Central Bank (BDL) has redeemed on behalf of the government a $1.5 billion Eurobond.
The eight-year bond had a coupon rate of 5.45 percent.

The next issues will mature in March and April 2020.

Lebanon has to refinance more than $4 billion in Eurobonds"...

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Nov 27

 Lebanese start sit-in in front of CBL

Lebanese start sit-in in front of CBL

Beirut, Nov. 26 (Petra) -- Lebanese demonstrators Tuesday evening began arriving at the Central Bank of Lebanon (CBL) in Beirut, answering calls to start a 24-hour sit-in in front of the bank.

The sit-in, according to the demonstrators, aims to protest 'the bank continuous"...

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Nov 27

Central Bank’s foreign assets down $800 million in November

Central Bank’s foreign assets down $800 million in November

Assets in foreign currencies at the Central Bank (BDL) reached $37.1 billion at mid-November 2019, down 2.1 percent ($800 million) from the end of October 2019, and down $2.6 billion from the end of 2018.

Foreign currency assets include $3.5 billion in Eurobonds.
...

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Nov 26

Central Bank and banks defend Bank Audi from smear

Central Bank and banks defend Bank Audi from smear

The Central Bank (BDL) and the Association of Banks, in an unprecedented way, came to the defense of Bank Audi, which has been a target of accusations in a TV political talk-show and a negative campaign on social media.

Bank Audi group has refuted accusations allegedly committed"...

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Nov 21

Lebanese banks’ capital controls 'not a silver bullet', says IIF

Lebanese banks’ capital controls 'not a silver bullet', says IIF

Lebanese banks that have implemented individual capital controls will only bring temporary respite to the economic crisis in the country and the present impasse highlights the need for the formation of a new government and wider reforms to usher in long-term financial stability, the Institute"...

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Nov 20

Lebanon’s banks reopen with strict controls in place

Lebanon’s banks reopen with strict controls in place

Lebanon’s bank staff union announced Monday it’s ending a week-long strike after increased security and new regulations that officially limited withdrawal and dollar transfers.

The union said banks"...

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Nov 19

ABL calls on all banks in Lebanon to reopen tomorrow

ABL calls on all banks in Lebanon to reopen tomorrow

NNA - The Association of Banks in Lebanon (ABL) on Monday announced in a statement:


'As a result of the meeting held at 2.00 p.m. this afternoon between the Board Council of the Association of Banks in Lebanon (ABL), headed by Dr. Salim Sfeir, and the Federation"...

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