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Bank initiative to fill gaps in official economic data

10-11-2017

The Lebanese State lacks regularly updated central economic statistics to measure the economic activity across productive sectors. As such, economic researchers/ experts/ investors searching for relevant figures and data about the state of economy have to look for that through the different periodicals and publications issued by public institutions, namely (the Central Bank, the Central Administration of Statistics (CAS), the Finance Ministry, Customs, and others). They can as well use the data of international institutions or private companies, while knowing that even these figures could lack accuracy or real-time integration. In an initial attempt to correct the situation, Blom Bank launched yesterday an innovative and free economic data and research portal, BRITE (brite.blominvestbank.com), . This platform offers free world-class research and analysis tools in addition to a number of key support services customized for businesses that cover the national economy. BRITE is the fruit of partnership between Blom Bank, Economena Analytics and Moody’s Analytics. A statement by Blom Bank said that, while reliable free information is not often accessible online, BRITE will be the go-to-site covering more than 5000 indicators on the Lebanese economy. For his part, Economena Analytics founder, Tamim Akiki, said that BRITE gives Lebanon a push into the league of developed markets in terms of access to economic data. It also helps businesses and researchers explore opportunities across every sector of the Lebanese economy. (L’Orient Le Jour, An Nahar, November 9, 10, 2017)

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