Financial and Banking News
BoA Closes Beirut Operation
Bank of America has announced the closure of its Lebanese operationseffective 17 December. The bank gave no reason for its decision to relinquishits Lebanese license, although its presence in the country has already beenscaled down from a peak of 200 employees in 1976 to only about 30 at the presenttime. The announcement came as the Lebanese currency slid to another record lowof LL59=$1,...