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Lebanon needs foreign support, decision on Eurobond: New finance minister

Lebanon’s new government needs foreign support to help it rescue the country from an unprecedented economic and financial crisis, the finance minister said on Wednesday hours after he was named.
The government must make a decision on a $1.2 billion Eurobond maturing in March, Finance Minister Ghazi Wazni also told local broadcaster al-Jadeed.
He said the Cabinet has to restore confidence because the country was in a state of collapse.
Earlier on Tuesday, Prime Minister Hassan Diab vowed that his newly-unveiled government would strive to meet the demands of a three-month-old protest movement demanding radical change.
One of the government’s first tasks will be to decide its approach to looming sovereign bond repayments, including a $1.2 billion Eurobond maturing in March.
Lebanon’s union of exchange dealers said on Tuesday it had decided to set the exchange rate at a maximum of 2,000 pounds to the US dollar in agreement with the central bank governor.
The pound has been officially pegged at 1,507.50 to the dollar for more than two decades. Diab expressed hope that the currency would strengthen.
source: Reuters
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BENEFIT Sponsors BuildHer...
- April 23, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”
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