Banking & Finance articles

A legacy of proper supervision

A legacy of proper supervision

Whilst the Lebanese insurance sector is quietly perched on the edge of new opportunities, such as insuring a yet-to-be-established oil industry, it currently faces a severe destabilization risk. The lack of a commissioner has disrupted the key and evolving process of supervision, and there may be concerns over who will fill the position and how.

Drawing production power from the sun

For any manufacturer, a reliable and affordable source of electricity is a necessity. This summer, Technica, a regional leader in the building of automated end of line solutions – machines that prepare already assembled products for shipping – switched on its new photovoltaic (PV) panels. This, says Strategy Manager Cynthia Abdul Khater, is a first

Beirut River Solar Snake turned on

Last month’s heat wave saw near record highs in temperature and heat indices across Lebanon, causing rolling blackouts on top of the regular scheduled electricity cuts in Beirut. Amid the power shortage comes 1 megawatt of good news – the Beirut River Solar Snake (BRSS), a photovoltaic system spanning the Beirut River, has been switched

Renewing the Source

It was at the Copenhagen Climate Summit in 2009 that Lebanon committed itself to generate 12% of total energy from renewables by the year 2020. An electricity whitepaper from 2010 laid out the plan, and the government has made incremental headway toward generating electricity from renewables, particularly in capturing the sun’s rays. Pierre Khoury, director

Number crunching the first quarter

At a time when the observation of global banking remains as interesting as ever, the first quarter of 2015 has seen Lebanese banks stay their course, at least as far as growth of profits of the country’s six publicly listed banks, which between them reported over $279 million in net profits for the period that

A fine time for fintech

No, fintech is not the code name for the joint research and development capabilities of Finland based Nokia and France’s Alcatel-Lucent. And for those who are troubled by the idea of being unaware of the latest buzzword, the term is not actually all that new. Blending the words financial and technology, fintech has been around

The evolving role of the central bank

“The overall duty of the [Lebanese Central] Bank shall be the safeguard[ing] of currency as fundamental guarantee for permanent economic and social development, and more specifically: – safeguarding a sound Lebanese currency – safeguarding economic stability – safeguarding the basic structure of the banking system – developing the monetary and financial market” Article 70, The Code of Money and Credit

For better or for worse

It was the financial markets’ first big surprise of the year. In January 2015, the Swiss National Bank (SNB), the Alpine republic’s central bank, scrapped its 1.20 ceiling that limited the franc’s ascendancy vis-à-vis the euro. The franc suffered a rare appreciation shock that has been reflected by a higher valuation versus the euro throughout