Source: Kataeb.org
Security & Justice
Israeli Army Announces New Strikes on Hezbollah in Lebanon
Israel's army announced new strikes on Hezbollah targets in Lebanon on Thursday, as warning sirens rang out in northern Israel, indicating possible incoming fire.
Thursday, September 19, 2024
37 Killed in Two Days of Lebanon Exploding Devices
Lebanon’s Health Minister Firass Abiad said 37 people were killed and more than 3,500 wounded in a new toll after hand-held devices used by Hezbollah members exploded across Lebanon, in attacks blamed on Israel.
Thursday, September 19, 2024
Opinion
Lebanon Should Not Be a Puppet Controlled by Hezbollah
Caretaker Prime Minister Najib Mikati this week expressed, during a meeting with ambassadors and acting representatives of the UN Security Council’s member states, Lebanon’s readiness to engage in indirect negotiations with Israel to achieve a ceasefire and end the ongoing war in the south of the country between Hezbollah and the Israeli army, amid escalating exchanges of fire and Israeli threats to expand the conflict.
Thursday, September 12, 2024
Why Riad Salameh's Arrest Is a Test for Lebanon's Judiciary
The arrest of former Central Bank of Lebanon chief Riad Salameh last week has triggered a slew of speculation both within and beyond Lebanon's borders.
Monday, September 9, 2024
Sports
Man City's Hearing for 115 Charges Begins
The hearing into Manchester City's 115 charges for alleged breaches of the Premier League's financial rules begins on Monday.
Monday, September 16, 2024
Piastri Wins as Norris Gains on Verstappen in Azerbaijan
Lando Norris drove an extraordinary race to catch and pass title rival Max Verstappen as his McLaren team-mate Oscar Piastri won an engrossing Azerbaijan Grand Prix.
Sunday, September 15, 2024
Friday 8 September 2023 13:00:34
Hakim: Dealing with Bloomberg Is Positive But Not Reformative
After the government's decision to adopt the Bloomberg Global Trading Platform, it is expected to initiate a new financial path aimed at replacing Sayrafa platform, which ceased pumping dollars into the market at the end of the term of Lebanon's central bank governor, Riad Salameh, in July of last year.
Regarding the operation of the new platform and its impact on the financial markets, Former Economy Minister Alain Hakim told "Rai Seyasi” newspaper: "There are no specific criteria for Bloomberg platform that is expected to be operational within a deadline of no more than two months to complete the arrangements and logistical procedures."
He explained that the platform is specialized electronic software for foreign exchange or metal trading operations, indicating that there is no direct connection between Bloomberg and the Sayrafaa platform which was established to meet the daily currency needs of the market.
Hakim believed that the Bloomberg platform will provide information on the sources and movement of most dollars present in the Lebanese market..
“If the state needs dollars, it can obtain them through this platform, which will be under the supervision of Lebanon’s Central Bank. This platform will be closely monitored,” he noted.
“The decision to establish this platform is one of the demands of the International Monetary Fund. Additionally, it will be subject to U.S. oversight and will serve as a tool for transparency and market control in Lebanon, which is suffering from a "cash" crisis, potentially reducing the cash dollar flow in the market,” he explained.
The Former Minister denied that this platform would have any impact on the exchange rate of the dollar.
He indicated that it would aid in monitoring, something that could have been achieved within the framework of the Lebanese stock exchange, which is not currently in use but is expected to be used in the second phase.
Hakim expressed his belief that the impact of Bloomberg platform on the exchange rate might become somewhat noticeable in the long term, emphasizing that no platform or mechanism can substitute for reforms, financial injections, and investments.
