The board of Directors of BLOM Bank S.A.L convened on March 18th, 2016 and recommended to the General Assembly. The General Assembly will be held on the 14th of April, 2016 at 10:00 am in Beirut, Lebanon ... read more
Consumer prices maintained the downward trend during the first two months of 2016 as imported deflationary pressures are still weighing on the prices of Lebanese goods and services since 2015. In this ... read more
The number of industrial permits reached 339 in the second half of 2015 (H2 2015), compared to 320 for the same period in 2014. The highest number of permits, 74, was recorded during the month of August ... read more
According to Ernst & Young Middle East hotel benchmark survey, Lebanon’s hotel occupancy rate registered 55% by February 2016, up from 53% by February 2015. Among the MENA countries, Lebanon ranked ... read more
Following the extraordinary general assembly’s approval on the 16th of February, Middle East & Africa Bank S.A.L increased its capital from LBP156B (equivalent to $103.48M) to LBP186B (equivalent to ... read more
According to the Association of Banks in Lebanon (ABL), the Lebanese gross public debt reached $70.62B in January 2016, a 6.08% year-on-year (y-o-y) increase and a 0.43% uptick from that of December 2015. ... read more
Following the approval of the extraordinary general assembly on the 22nd of January 2016, Credit Bank S.A.L increased its capital by LBP79.39B (equivalent to $52.67M) to LBP159.62B (equivalent to ... read more
EFG Hermes, the largest publicly traded investment bank in the Arab world approved today the sale of a 40 percent stake (equal to 9.41M shares) in Credit Libanais to Arab and Lebanese investors at $33 per ... read more
The consolidated balance sheet of Lebanon’s commercial banks revealed a 0.11% progress in assets from December 2015’s level of $185.99B to $186.20B in January 2016, which reflected to a 5.95% year-on-year ... read more
According to the World Economic Forum, Lebanon ranked 125th out of 126 countries in the global Energy Architecture Performance Index (EAPI). The index focuses on tracking specific indicators to measure the ... read more
According to the Ministry of Tourism, the number of tourists who visited Lebanon in the first two months of the year increased by a yearly 9% and totaled 191,808. Arab tourists, accounting for 36% of total ... read more
As part of the Lebanon Industry Value Chain Development (LIVCD) project, the United States Agency for International Development (USAID) granted olive farmers 318 mechanical harvesters that run on ... read more
As part of the Lebanese Ministry of Telecommunication’s 2020 5-year plan, the mobile network Alfa, managed by Egypt’s Orascom Telecom, has signed contracts with Ericsson and Nokia to set up the 4.5G ... read more
Jean El Khoury, owner and partner in several hotels in Jbeil, has launched new construction projects in Byblos and Laklouk to be completed by 2017. The Majestic Hotel is a four-star property to be built in ... read more
According to the Association of Lebanese Car Importers, the number of newly registered commercial and passenger cars improved during the first 2 months of 2016 by 14.23% year-on-year (y-o-y) to 5,586 cars. ... read more
According to Kafalat, the number and value of issued guarantees increased from 87 and $10.48M by February 2015 to 118 and $17.76M by February 2016. Accordingly, the average loan value per project increased ... read more
Lebanon’s Balance of payments (BoP) recorded a $718.7M deficit in January 2016 compared to a lower deficit of $280.2M by January 2015. The deterioration in the BoP is mainly linked to the decline in ... read more
Fiscal deficit, for the first 11 months of 2015, widened by 7.17% year-on-year (y-o-y) to $3.24B. This was attributed to the 5.63% yearly decrease in government revenues outpacing the 2.62% annual decline ... read more
Payment cards saw progressing appetite in 2015 following the ongoing and aggressive retail campaigns of the Lebanese banks to boost demand for alternative noncash payment methods. As a result, the number ... read more
In January 2016, the total number of cleared checks slid by 2.46% year-on-year (y-o-y) to reach 1.01M, coupled with a 1.36% yearly decline in value to $5.77B. The number of checks denominated in Lebanese ... read more
Lebanon’s trade deficit for the first month of 2016 stood at $1.31B, widening from the $1.09B registered in the same month last year. Total imports grew by 11.50% year-on-year (y-o-y) to $1.49B while ... read more
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