The Lebanese army have conducted heist training for bank robberies and hostage situations following a rise in recent incidents
Lebanon economy
banking
‘We don’t have a solution to bank crisis’ says Lebanon’s Interior Minister
Speaking to Arabian Business, Lebanon’s caretaker minister Bassam al-Mawlawi says country is working to avoid collapse of banking system
financial crisis
Lebanese expats set to lose millions amid economic crisis
The country’s deputy prime minister said the government’s plan won’t cover all depositors
Lebanese politics
Lebanese PM calls for dialogue to strengthen Gulf relations
Najib Mikati said he had embarked on a series of contacts to tackle the government gridlock and resume the cabinet sessions
Beirut
Will $500m fund breathe new life into Lebanon’s private sector?
Lebanon Economic Empowerment Fund will provide debt capital exclusively to qualified privately-owned Lebanese businesses
Bahaa Hariri
Bahaa Hariri calls for urgent ‘non-sectarian’ action to save Lebanon from collapse
According to the latest World Bank Lebanon Economic Monitor (LEM), the economic and financial crisis is likely to rank in the top three most severe crises episodes globally since the mid-nineteenth century
Bahaa Hariri
Why Lebanon ‘is on the brink’
One year on from the Beirut blast, in an impassioned, exclusive letter, Bahaa Hariri, the son of former Lebanese Prime Minister Rafic Hariri, lambasts state corruption as even Syrian refugees return home for a better life
International Monetary Fund
Lebanon’s private sector calls for ‘stability and normality’ amid ongoing crisis
In a country where the government’s approach to the private sector can be seen as apathetic as best and a hindrance at worst, Lebanon’s competitiveness rating is 88th out of 141 countries in 2019’s Global Competitiveness Index
energy shortages
Arab states agree to supply gas to energy-hungry Lebanon
Lebanon is working with the World Bank to secure guarantees to cover payments for the gas
Association of Banks in Lebanon
Banking sector is ‘only hope for Lebanon’, says head of bank association
In a country where depositors’ money is holed up via ad hoc capital controls imposed unilaterally by banks, Lebanese have lost faith in the country’s banking sector, once considered a pillar of stability
Central Bank of Lebanon
Lebanese brace for higher fuel prices as government cuts subsidy
Fuel crisis has exacerbated power blackouts and resulted in miles-long lines at gasoline stations during Lebanon’s worst financial meltdown in memory
Lebanese businesses
Medical supplies run out in Lebanon as country looks back a year after Beirut port explosion
Myriad problems have made life hard for all importers, and in the medical sector, shortages have emerged. Anaesthesia, pace makers, and laboratory tests are all in short supply, said Salma Assi, the head of the medical equipment importers’ syndicate
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beirut port explosion
Why optimism is in short supply as Lebanon marks Beirut blast anniversary
Beirut’s port explosion ripped through the city a year ago. The economic crisis that had set in nearly 12 months prior and the pandemic that hit in early 2020 have brought the country’s businesses to their knees
Bossa Nova Beirut Hotel
Is summer tourism the salvation for Lebanon’s hospitality operators?
Positive impact from increased visitors offset by mounting operational challenges, according to industry stakeholders
Bahaa Hariri
Can Lebanon’s economic ruin be reversed? Bahaa Hariri is counting on it
Billionaire businessman is backing radical citizens’ movement but says he has no plans to become PM
Central Bank of Lebanon
Lebanon grants limited access to bank deposits amid crisis
Move comes nearly 20 months after banks denied them access as a result of the crippling financial crisis
Central Bank of Lebanon
Lebanon halts dollar withdrawals at more favourable rate
The bank said the decision implemented a request by the Shura Council, Lebanon’s top administrative court