Lebanon has regained its full voting rights at the United Nations after paying part of what it owes the world body, U.N. spokesman Stephane Dujarric said on Monday. Under U.N. rules, a country can lose its General Assembly vote if is in arrears by any amount that equals or exceeds ... Read More »
Congo-Brazzaville and Chad among hardest hit as campaigners warn spiralling repayments could trigger disaster Poorer countries are cutting public spending in response to a “growing debt crisis”, campaigners have warned. Debt in some countries has trebled according to new figures that calculate debt reimbursements, and their impact on government ... Read More »
Lebanon’s banks will not go bankrupt and deposits are secure but the country needs foreign support to pull itself from crisis, central bank Governor Riad Salameh said on Thursday, amid deep financial strains that have shaken confidence in banks. The country is facing an acute dollar shortage and the worst ... Read More »
Japan has asked Lebanon for help regarding Carlos Ghosn, a top Japanese official said on Tuesday, calling the former auto executive’s escape to Beirut “regrettable” but stopping short of spelling out what Tokyo was seeking from local authorities. The former Nissan Motor Co Ltd (7201.T) and Renault SA (RENA.PA) chairman ... Read More »
Carlos Ghosn has spent more than a year trapped in a Japanese legal odyssey that’s transfixed the automotive world and thrown his life into chaos. Now, having pulled off an escape from Japan to Lebanon, he’s an international fugitive. But the executive is also free to speak his mind ... Read More »
Hong Kong’s role in global finance is intact, with little evidence to suggest recent protests and social unrest in the city have adversely impacted that role, global credit rating agency Fitch Ratings said on Thursday. However, the rating agency added that the prolonged protests are undermining perceptions that Hong Kong ... Read More »
All eyes are focused on the tender held by the Energy Ministry to import 150 thousand tons of gasoline by the state’s oil facilities. In this regard, caretaker energy Minister Nada Boustani raised concerns over potential pressures that could have been exerted on the relevant companies so that they do ... Read More »
The territory’s recession is getting deeper and the US is threatening its special trading status, bringing serious consequences for Beijing Almost six months after the protest movement that has upended life in Hong Kong began, the region is now facing serious questions about its future as Asia’s leading international ... Read More »
Lebanese Central Bank Governor, Riad Salameh, pledged Monday that BDL’s (Banque du Liban) main objective is to protect depositors and deposits, underlining that “this is a basic and final matter, and we have taken the necessary procedures so that there will be no losses borne by depositors.” Addressing the Lebanese ... Read More »
The World Bank highlighted the urgent need to stop Lebanon’s “emerging economic crisis” in a statement Wednesday, projecting that if the situation continues, poverty in the country could rise to approximately 50 percent. According to regional director Saroj Kumar Jha, the World Bank had earlier projected a “small recession” ... Read More »
Lebanese Ministry of Information