Lebanon’s private sector economy persisted in contractionary territory in April 2024 at the fastest rate in the year-to-date reaching 48.9 compared to March’s 49.4 figure. The contraction was mainly ... read more
On the 5th of June 2017, the ordinary general assembly of Bank BEMO shareholders was held at the bank’s headquarters. The assembly decided to distribute 2016’s dividends, with a total of LBP8.599B ($5.7M), ... read more
According to the central bank’s (BDL) balance sheet, total assets slipped by 0.74% year-to-date (YTD) to stand at $101.57B in May 2017 mostly on the back of down ticks recorded in foreign assets and ... read more
According to the Orders of Engineers in Beirut and Tripoli, the number of construction permits dropped by a yearly 6.29% to stand at 5,485 permits by April 2017. The Construction Area Authorized by Permits ... read more
Lebanon’s trade deficit stood at $5.39B in the first four months of the year, widening from the $5.36B recorded in the same period last year. Total imports grew by 2.11% year-on-year (y-o-y) to $6.36B, ... read more
According to the Lebanese Ministry of Industry, the value of total industrial exports fell to $196.M in February 2017, compared to $222.8M in February 2016. Exports of Machinery and electrical equipment ... read more
On May 26, 2017, Solidere applied for the delisting of its Global Depository Receipts (GDRs) from the official list of the UK Financial Conduct Authority. The real estate company has also applied for the ... read more
According to the statement of income of Bank Audi’s Egyptian subsidiary, net profit for Q1 2017 fell by 26.54% year-on-year (y-o-y) to $11.74M. The decrease was driven by a 36% annual rise recorded in ... read more
According to the Ministry of Tourism, the number of tourist arrivals rose by a yearly 17.45% to 503,805 by April. This rise was partly due to the relatively stable security situation in Lebanon and the ... read more
According to Midclear, BLC Bank S.A.L acquired all the assets, liabilities, rights and obligations of BLC Invest S.A.L. BLC Invest has therefore been scratched off the list of banks in Lebanon and its ... read more
The political and security stability in the country is still favouring higher leisure and tourism activities in the country. According to E&Y’s Middle East Hotel Benchmark Survey, Beirut’s hotel ... read more
According to the Central Administration of Statistics (CAS), Lebanon’s average inflation rate rose by 4.68% by April 2017 compared to the same period in 2016. The average costs of “Housing, water, ... read more
According to the Association of Lebanese Banks (ABL), the number and value of cleared checks declined by 2.29% and 0.50% annually to reach 3.96 million and $22.44B by April 2017, respectively. The number ... read more
Despite the 12% rise in tourism during the first quarter (Q1) of 2017, Rafic Hariri International Airport (RHIA) activity deteriorated by March 2017, as the total number of passengers plummeted by a yearly ... read more
According to the Association of Lebanese Car Importers, the number of newly registered commercial and passenger cars fell by a yearly 2.75% to 11,581 cars by April 2017. This was triggered by the 4.01% ... read more
Activity at the Port of Beirut (PoB) plummeted in the first four months of 2017 as the port’s revenues recorded a yearly decrease of 4.29% to $74.25M. Nonetheless, total container activity including ... read more
According to the balance sheet of the Lebanese Central Bank (BdL), total assets fell by 0.74% to $101.38B in mid- May, compared to $102.14B mid-April. Foreign assets (38.61% of total assets) and gold ... read more
According to the Ministry of Finance, transfers to EDL reached $926M by the end of 2016, substantially lower than the $1.13B transferred over the same period in 2015. This decline mainly resulted from the ... read more
Odeabank, Bank Audi’s Turkish subsidiary, released its financial statements for the first three months of the year, revealing a net profit of $25.96 million compared to $6.31 million in the same period ... read more
According to Kafalat statistics, the number of issued loan guarantees stood at 193 worth $23.6M for the first four months of 2017, compared to 242 guarantees issued, worth $34M, over the same period in ... read more
According to the Ministry of Finance (MoF), the Lebanese Gross public debt reached $77.17B in Q1 2017, an 8.63% year-on-year (y-o-y) increase, and a 3.05% up tick from the beginning of the year. Debt in ... read more
The central bank’s balance sheet revealed a 0.49% year-to-date (YTD) downtick in total assets to $101.82B in April 2017 on the back of declining foreign assets and securities’ portfolio. In details, ... read more
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