Jad Hilal is an accomplished entrepreneur with an impressive background in business and management. In 2008, he graduated from the Lebanese American University with a degree in Business with an emphasis on Marketing, then went to California State University, where he majored in Business Administration with an emphasis on management. With a strong marketing background, […]
The official exchange rate at LL15,000 from next February BDL expects economic growth this year Starting next February, the official exchange rate will be devalued from LL1,507 to LL15,000 to the US dollar, according to Riad Salameh, Governor of the Central Bank (BDL). Dollars withdrawn by depositors from their bank accounts will be paid in […]
The International Monetary Fund (IMF) has reached a ‘staff-level agreement’ with the government for a four-year ‘Extended Fund Facility’ that would only get full approval from the fund after a series of reforms is enacted. The IMF said in a statement that the Lebanese government, with IMF staff support, has formulated a comprehensive economic reform […]
$500 million fund to lend local businesses – To be established by Palladium, Bamboo Capital, and Cedar Oxygen A group of private Lebanese investors, made up of Palladium and its asset management arm Bamboo Capital Partners in addition to Cedar Oxygen, have entered into a strategic partnership to develop a $500 million fund. The Lebanon Economic Empowerment […]
Climbing mortgage rates hit already high home prices CNBC’s Diana Olick reports on what the gain in home prices and inflation fears mean for the housing market.
The US Government Is Auctioning $377K Worth of Bitcoin and Litecoin The U.S. government is selling bitcoin and litecoin worth $377K via the General Services Administration (GSA). The auction closes at 5 p.m. on Monday, with the possibility of an extended closing time. The government auction house is selling the digital assets in 11 lots […]
How to convert lollars into fresh money Central Bank creates special accounts for up to $50,000 Central Bank Circular The Central Bank (BDL) has issued a circular detailing the implementation of its decision to allow the conversion into fresh money of funds in foreign currencies (mostly in dollar) held at banks prior to October 2019. […]
Foreign visitors required to pay hotels in fresh dollars Local rates have become among the cheapest in the Middle East. Hotels have received permission to charge room rates in foreign currencies when the customer is a foreign visitor via a circular by the Ministry of Tourism. Visiting and resident citizens and foreign residents will continue […]
Heavy competition in today’s pricey housing market has sidelined some first-time buyers, especially in major metropolitan areas. These buyers usually make up about 40% of the market, but now they’re less than a third, according to the National Association of Realtors. The majority are millennials ages 25-34. There is still hope for homeownership, however. […]
Multi-billion German plan for Beirut Port and neighborhood Up to $15 billion with EIB funding Germany is getting ready to propose on April 7 a multi-billion-dollar project to rebuild the Port of Beirut and surrounding areas according to an exclusive dispatch from Reuters news agency. The project cost ranges from $5 billion to $15 billion, […]
