Financial markets around the world crashed Monday and a swathe of northern Italy was sealed off as authorities struggled to contain the spread and impact of the deadly coronavirus. An area home to a quarter of Italy’s population was effectively shuttered — including Milan and Venice — mimicking a lockdown ... Read More »
Equity markets collapsed Monday as the rapidly spreading coronavirus fans fears over the global economy, while a crash in oil prices added to the panic with energy firms taking a hammering and wiping hundreds of billions off valuations. As the deadly disease claims more lives around the world, dealers are ... Read More »
Lebanon said Saturday it would default on its Eurobond debt for the first time and seek out restructuring agreements due to a spiralling financial crisis that has hit foreign currency reserves. The country, hit by a severe liquidity crunch and months of anti-establishment protests, was due on Monday to repay ... Read More »
United Nations Special Coordinator for Lebanon Jan Kubis said on Sunday that “the honest statement of Prime Minister Hassan Diab about the failure of the previous economic model opens the way out of the crisis.” “I encourage creditors to work with the government to avoid disorderly default following the suspension ... Read More »
The management of Hotel-Dieu de France Hospital in Beirut recorded a coronavirus case and issued the following statement on their official Facebook page, Sunday, March 8th: “We received a patient who, after the necessary medical examination, was confirmed to be infected with the coronavirus.” “The patient was transferred directly from ... Read More »
COVID-19 cases surpassed 100,000 worldwide on Friday as the new flu-like coronavirus continues to spread outside of China, the epicenter of the outbreak. The total number of cases now stands at 100,055 as of 8 a.m. ET on Friday, according to data compiled by John Hopkins. The majority of the ... Read More »
The Cabinet on Thursday approved a draft law on lifting bank secrecy, Information Minister Manal Abdul Samad said, describing it as “an important achievement for the government, which will not hesitate to hold accountable any corrupt person.” Speaking after a Cabinet session at the Baabda Palace, Abdul Samad added that ... Read More »
State Prosecutor Ghassan Oueidat suspended Thursday an order to freeze the assets of 21 Lebanese banks, warning it would plunge the country and its financial sector into chaos. Oueidat said international financial authorities had intended to halt dealings with Lebanese banks, without giving further details. Earlier Thursday, a judge stunned ... Read More »
Tension flared at Greece’s mainland border with Turkey early on Friday as volleys of tear gas were fired from the Turkish side of the fence towards Greek border guards. There has been a standoff in the border area of Kastanies since Feb. 28, when Ankara said it would no longer ... Read More »
The director-general of the World Health Organization has warned governments that the continued international spread of the novel coronavirus is “not a drill” and will require significant action if public health authorities are to contain the deadly outbreak. The call to action comes as the global number of people infected ... Read More »
Lebanese Ministry of Information
