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Tag Archives: central bank

Riad Salameh showers local banks in dollars

Central Bank Governor Riad Salameh has said that banks are now allowed to unlimitedly buy U.S. dollars from the central bank in Lebanese pounds at the price specified by the Sayrafa platform. “In addition to the monthly quota that the banks are withdrawing in USD, the banks now have the …

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Judge stops Riad Salameh from leaving country

Mount Lebanon Attorney General Judge Ghada Aoun on Tuesday ordered General Security to impose a travel ban on Central Bank Governor Riad Salameh in connection with a lawsuit filed against him by activists. A leaked copy of Aoun’s order says Salameh should be barred from traveling through all land, sea …

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Lebanese presidency defends itself against critics

Michel Aoun

The Presidency on Thursday snapped back at those who criticized President Michel Aoun over the administrative and financial decentralization remarks in his latest speech. “Politicians and journalists have deliberately taken out of context parts of President Michel Aoun’s address to the nation, interpreting them in a manner that contradicts with …

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Iranian fuel oil goes to Lebanon through ally Syria

The first Iranian fuel oil cargo secured through Lebanon’s armed group Hezbollah will be delivered via Syria by truck to avoid complications related to sanctions, two sources with knowledge of the mater said on Thursday. Hezbollah, a heavily armed group founded by Iran’s Revolutionary Guards in 1982, announced last month that a shipment of Iranian fuel oil was on its way …

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Christians, Shiites fight over fuel in southern Lebanon

A dispute over scarce fuel supplies ignited sectarian tensions between neighbouring Shi’ite Muslim and Christian villages in southern Lebanon over the weekend, forcing the army to intervene, a security source said. Clashes mostly centred on the crippling gasoline and diesel shortages have become a daily occurrence in Lebanon, prompting growing …

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Lebanese killed in fuel fights

Three Lebanese men died in altercations on Monday related to scarce fuel supplies, an army statement and security source said, as the country reels from a long-running economic crisis. Lebanon’s currency has lost more than 90% of its value in less than two years, causing shortages of fuel, electricity and …

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Scandal hits Erdogan house with son-in-law’s cabinet resignation

The abrupt resignation of Tayyip Erdogan’s son-in-law from one of Turkey’s most powerful cabinet positions shocked the government and angered some ruling party members who say the nature of his departure damages the president. Finance and Treasury Minister Berat Albayrak oversaw economic policy for two tumultuous years during which Turkey …

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Interest rate swaps on rise in UAE

Ten-year term interest rate SWAPs maintained an upward movement in 2018, spiking to 4.39 percent in mid-November from 3.7 percent in early January before rebounding to 4.15 percent by the end of the year, statistics by the Central Bank of the United Arab Emirates have shown. Interest rate swaps are …

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UAE to flood market with banknotes for Eid

Central Bank of the UAE (CBUAE) regularly ensures all banks operating in the UAE are provided with new bank notes to meet the needs of their customers during festive seasons. ”As Eid Al Fitr approaches, CBUAE has instructed all banks to ensure cash exchange services are well taken care of …

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Outbound remittances from UAE hit more than Dh43 billion

Expatriates in the UAE continue to send more of their earnings back to their home countries as the US dollar holds strong against several currencies, with remittances in the last quarter alone reaching Dh43.2 billion. According to the figures released by the UAE Central Bank, outgoing money transfers went up by Dh1 …

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