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Jul 04

Central London re-enters top 20 most expensive cities in Europe

Central London re-enters top 20 most expensive cities in Europe

LONDON — The latest Cost of Living report from global mobility specialist, ECA International reveals UK cities step up the ranking of the most expensive in the world due to the improved strength of the GBP against most currencies.

Reporting the cost of consumer goods and"...

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Jul 02

Kanaan: State Not Bankrupt, Govt. Figures on Defaulted Loans Inaccurate

Kanaan: State Not Bankrupt, Govt. Figures on Defaulted Loans Inaccurate

MP Ibrahim Kanaan, the head of the Parliamentary Finance and Budget Committee, announced Wednesday that the Lebanese state is “not bankrupt,” as he disputed the figures declared by the government on the defaulted loans.

“The"...

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Jul 02

Road-Blocking Protests Renew as Currency Slides, Economy Sags

Road-Blocking Protests Renew as Currency Slides, Economy Sags

Protesters closed the Beirut areas of Qasqas, Corniche el-Mazraa and the roundabout of Cola on Wednesday amid rising anger as the dollar exchange rate hit new highs amid an unprecedented economic and monetary crisis driving Lebanese into poverty.

The"...

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Jul 02

 Ministry of Finance: 16th meeting with IMF highlighted need for swift reforms

Ministry of Finance: 16th meeting with IMF highlighted need for swift reforms

NNA - The Press Office of the Ministry of Finance indicated in a statement on Wednesday that 'The Lebanese negotiating delegation, chaired by Finance Minister Ghazi Wazni, has held its 16th meeting with the International Monetary Fund, in the presence of Central Bank Governer, Riad Salameh,"...

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Jul 02

Le Vendome hotel sold to Qatari investors

Le Vendome hotel sold to Qatari investors

Le Vendome hotel has been sold to investors from Qatar, linked to the ruling family, specifically Hamad Bin Khalifah Al Thani, former ruler and father of the current Emir.

Sources said that the hotel was sold for $35 million. It had been offered for sale at $70 million before"...

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Jul 02

Lebanon reopens Beirut airport under supervision of Ministers of Works, Health

Lebanon reopens Beirut airport under supervision of Ministers of Works, Health

NNA - Lebanon on Wednesday has reopened Rafic Hariri International Airport in Beirut, resuming air traffic to and from Lebanon.


In this context, Minister of Public Works and Transportation, Dr. Michel Najjar, and Minister of Public Health, Dr. Hamad Hassan, carried out"...

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Jul 02

Solidere posts first net profit since 2016

Solidere posts first net profit since 2016

Solidere has posted a net profit of $49 million in 2019 after recording a loss of $115.7 million in the previous year, according to the company’s recently released audited financial statement.

This is the first net profit realized after two consecutive years of losses....

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Jul 02

BDL company support circulars not being followed by most banks

BDL company support circulars not being followed by most banks

Circulars issued by the Central Bank (BDL) to help private sector employers finance operating expenses and payroll as well as accessing foreign currency funding for imports have largely been ignored by local banks.

In a poll conducted by Infopro Research, banks have rejected"...

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Jul 02

Meeting at MoF over imported food items' pricing

Meeting at MoF over imported food items' pricing

NNA - Minister of Finance, Ghazi Wazni, chaired Wednesday a meeting at his ministry office in presence of Ministers Raoul Nehme (Economy) and Manal Abdel Samad (Information), alongside Central Bank's Governor Riad Salameh, Head of Lebanon's Association of Banks Salim Sfeir, and Deputy Head"...

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Jul 02

Lebanon’s plea to expats: The airport is open again, come visit, bring dollars

Lebanon’s plea to expats: The airport is open again, come visit, bring dollars

BEIRUT: As Beirut’s airport reopened on Wednesday after a four-month virus shutdown, Lebanese expatriates were urged to come home for the summer — and bring dollars.
The Lebanese pound has lost 80 percent of its value this year, plunging to nearly 9,000 to the US dollar"...

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