Quote of the week goes to Lebanon Parliament Speaker Nabih Berri: Lebanon is not bankrupt, but rather defaulted on paying depositors dues.

It's like saying that I am not bankrupt but I simply can't afford paying my loans and bills.

Welcome to Berri’s Monetary School of Finance.

The profit of Middle East operator of KFC and Pizza Hut operator Americana fell by over 50% as the company faces consumer boycott since Israel-Hamas war started.

Americana said revenues declined due to ongoing geopolitical tensions.

Shares dropped by 4.3% - via Bloomberg Terminal

#Israel 's troops took control of the Rafah border-crossing area in #Gaza on Tuesday morning, with #Hamas saying all aid flows from Egypt had stopped.

bloomberg.com/news/articles/…

The European Union will provide Lebanon with €1 billion in financial aid for 2024 to 2027.

Funding to support basic services such as education, social protection and health.

Lebanese army and security forces to receive equipment and training to tackle border smuggling.

“Starbucks reported what’s perhaps the worst set of results of any large company so far” as the company's earnings fell below analysts estimates.

Sales dropped for the first time since 2020.

Shares sank as much as 13% in postmarket trading. bloomberg.com/news/articles/…

Our newsletter, The London Rush, is the early and essential business update you need.

And yes, Iain, our subject lines may contain some of the best/worst puns a financial journalist can come up with.

Sign up here to see for yourself: trib.al/vuu1V6r

NOTE: Iraq’s new anti-prostitution and homosexuality law defines prostitution as:

“Repeated adultery with more than one person whether paid or unpaid”.

That lose definition could make any pre-marital sex with more than one partner illegal…

Bloomberg takes a look at who are the main players who hold the keys to meet with UAE's $1.5 trillion man, Sheikh Tahnoon.

Lebanon's former PM Saad Hariri is one of them and getting a step closer to Tahnoon requires a smell test often over a cup of mate. bloomberg.com/news/features/…

A little-known Dubai firm run by a distant relative of the Abu Dhabi royal family agreed to lend South Sudan $13 billion - almost double the country's GDP - in exchange for 20 years of discounted oil. bloomberg.com/news/articles/…

Lebanon is nowhere to be seen in the list of top recipients of Gulf aid from 2011 to 2022. Talk about economic diplomacy.

Lebanon: Inflation fell to 70% in March
• First time it falls below 100% in almost 4 years
• Reasons: (1) pricing in dollars; (2) stable black market since last summer
• Prices are still rising, just not at 100% or 200% rate every year

By Omar Tamo
bloomberg.com/news/articles/…

Lebanon’s inflation rate fell to double digits for the first time in almost four years as businesses and shops in the crisis-wracked country increasingly price their goods in dollars instead of the local pound. trib.al/VAN3K1N

Lebanon’s inflation slowed to double digits (70.4%) for the first time in almost four years due to a stable pound in the market and the dollarization of the economy.

While pricing goods in dollars eased inflation, it threatens to worsen the hardship for those who earn in pounds.

I was checking Lebanon's central bank currency in circulation data to discover that they have data for October 2025. Living in the future.

Bloomberg in Dubai is looking for a reporter to cover equity capital markets in the Middle East. The region has seen a rise of new share sales in the past two years and is expected to generate even more especially in Saudi and UAE markets. Join our team.
careers.bloomberg.com/job/detail/124…

Lebanon's Middle East Airlines postponed Sunday morning flights to dates to be determined later, except for five flights to Europe.

Lebanon had closed its airspace for all arriving, departing and transiting aircraft on a temporary and precautionary basis from 1 AM until 7 AM.

Iran launched over 200 missiles and drones at Israel - first time Iran struck Israel from its soil.

Israel and its allies intercepted most of it. A girl was injured and there was minor damage to an army base.

Iran also seized an Israel-linked ship. bloomberg.com/news/articles/…

Leaked financial docs expose $8B FRAUD at Lebanon's central bank, 15% of the GDP at the time, which was described to me as unprecedented by experts. How did it happen? 1/
thenationalnews.com/news/mena/2024…

Happy to share some personal news: After 2 years at Bloomberg, I am taking a new role as deputy team leader for MENA breaking & will be moving to Dubai this month.

Excited to take on this responsibility & continue delivering timely coverage of the relentless chaos in the region.

Crisis-ridden Lebanon, the country that investors peg as the riskiest in the world, sees its money supply multiply by more than five times in just a single month trib.al/jFLCdgy