by Charbel Lebbos | Aug 9, 2022 | Arab Economy
Lebanon’s ongoing crisis since 2019 has caused irreparable damage to the banking sector, which had previous survived such turmoil as the 15-year civil war from 1975 to 1990. The 60 or so Lebanese banks that share the market have reduced their range of services, no...
by Charbel Lebbos | Aug 4, 2022 | Arab Economy
A “Ponzi Finance” scheme run by Lebanon’s political elite to systematically capture the country’s resources has caused unprecedented social and economic pain to the Lebanese people, the World Bank said. The country’s government...
by Charbel Lebbos | Aug 3, 2022 | Arab Economy, Arab News
Ukraine has doubled down on accusations that Russia is smuggling stolen grain to the Middle East, a day after Lebanon’s top prosecutor lifted the seizure of a ship accused of carrying stolen flour and barley. The Laodicea has been docket in Lebanon’s Tripoli...
by Charbel Lebbos | Jul 29, 2022 | Arab Economy, Arab News
A Syrian ship under US sanctions has docked in the Lebanese port of Tripoli carrying barley and wheat that Ukraine’s embassy in Beirut said had been plundered by Russia from Ukrinian stores. The Laodicea arrived in Tripoli on Wednesday, shipping data website...
by Charbel Lebbos | Jul 29, 2022 | Arab Economy
The entrance to the Keyrouz bakery in the Beirut suburb of Hazmeyeh was guarded by members of Lebanon’s army intelligence ― an apparent attempt to prevent violence as long bread lines formed outside on Thursday. In the morning heat, army intelligence created...
by Charbel Lebbos | Jul 27, 2022 | Arab Economy
Lebanon’s parliament on Tuesday ratified a long-awaited $150 million World Bank loan to finance wheat imports, during the first legislative parliamentary session since the May 15 parliamentary elections. The loan is to finance wheat imports for the next six to nine...
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