- Lebanon to devalue currency by 90% on Feb. 1, central bank chief saysMarkets ·
January 31, 2023
Lebanon will adopt a new official exchange rate of 15,000 pounds per U.S. dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years.
- Middle EastEight rockets fired at Turkish base in Iraq - Kurdish security group
Unidentified attackers fired eight rockets at a Turkish military base in northern Iraq on Wednesday, two of which landed inside, the Counter-Terrorism Group, a security organisation in Iraq's autonomous Kurdish region, said.
- BusinessRegional power plan for Lebanon held up over Syria sanctions - French official
Egypt is still seeking assurances that U.S. sanctions will be waived in order to start exporting gas to Lebanon through Syria under a plan first announced in 2021 to help ease Lebanon's power crisis, a senior French official said on Tuesday.
- Middle EastEgypt fintech firm MNT-Halan securing $400 million in new finance
Egyptian microfinance lending and payments company MNT-Halan is securing $400 million in new equity and finance, bringing its valuation to more than $1 billion, the company said in a statement on Wednesday.
- Middle EastSaudi National Bank FY profit jumps nearly 47% on higher income
Saudi National Bank , the kingdom's biggest bank, reported an almost 47% jump in 2022 net profit on Wednesday, boosted by higher operating income and lower impairments.