There are multiple exchange rates between the Lebanese pound and the US dollar, and the official rate being below the black market rate helps financial institutions pass on their losses to the public.
French coordinator of international support to Lebanon praises Egypt’s efforts to establish regional energy grid
France’s envoy on international support to Lebanon Pierre Duquesne, who is currently visiting Egypt, applauded on Egypt’s efforts to establish a regional power grid.
French coordinator of international support to Lebanon praises Egypt’s efforts to establish regional energy grid
France’s envoy on international support to Lebanon Pierre Duquesne, who is currently visiting Egypt, applauded on Egypt’s efforts to establish a regional power grid.
Lebanon to devalue currency by 90% on Feb. 1, central bank chief says
REUTERS/Mohamed Azakir/File Photo BEIRUT, Jan 31 (Reuters) – Lebanon will adopt a new official exchange … article with image 1:06 PM UTC Future of Moneycategory Britain’s finance ministry sets out …
Lebanon asks court to dismiss lawsuit over annexation
The City of Lebanon on Tuesday answered a lawsuit that claims city leaders broke the law when they annexed and rezoned land for the proposed LEAP Lebanon district in December.
Regional power plan for Lebanon held up over Syria sanctions – French official
Egypt is still seeking assurances that U.S. sanctions will be waived in order to start exporting gas to Lebanon through Syria under a plan first announced in 2021 to help ease Lebanon’s power crisis, …
Cash Is King in Lebanon as Banks Atrophy
Cash is now king in Lebanon, where a three-year economic meltdown has led the country’s once-lauded financial sector to atrophy. Zombie banks have frozen depositors out of tens of billions of dollars …
TotalEnergies says well drilling in Lebanon’s offshore Block 9 to begin in Q3
TotalEnergies is keen to start work on Lebanon’s offshore Block 9 “as soon as possible”, with assessments to begin early next month and well-drilling to launch in the third quarter of 2023, its CEO …
Qatar replaces Russian company in Lebanon gas exploration
Lebanon, two international oil giants and state-owned oil and gas company Qatar Energy agreed Sunday that the Qatari firm will join a consortium that will search for gas in the Mediterranean Sea off L …
‘The ‘Shiite crescent’ of Lebanon, Syria and Iraq is at risk of crumbling’
OP-ED. Antoine Basbous, a specialist of the Arab world, says that Beirut, Damascus and Baghdad are sinking further into crisis due to the scarcity of the dollar, institutional chaos, economic disorder …