Royal Forex to upgrade to a financial company. Change enables it to tap into micro lending and investment funds

Royal Forex Trading has changed its name to Royal Financials as part of a move to upgrade its license from a financial brokerage firm into a financial company.

This change will enable the company to tap into the micro-loan industry and to add new financial products like investment funds, said CEO Rayan El Annan.

Royal Financials, which currently operates an electronic trading platform (ETP), is already licensed to conduct advisory and discretionary trading as a brokerage firm.
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Le Vendome secures debt reschedule scheme. The value of loans is around $100 million

Bankmed and Bank Audi have agreed to refinance the debts of La Société des Grands Hotels du Liban (SGHL), owners of the Hotel Phoenicia and Le Vendome, after negotiations to restructure the debt. Bankmed is the main lender.

The banks agreed on the rescheduling of debt payments based on a payment-in-kind security against Le Vendome hotel. As the Central Bank (BDL) is facilitating debt relief schemes to businesses, its Banking Control Commission participated in the negotiati...

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IM Capital launches angel investor program. Targeted investment of $300,000 in first year

Insure and Match Capital (IM Capital), a Berytech company, has launched Seeders Masterclass for Business Angels, a one-year program to link early-stage individual angel investors and micro and small and medium enterprises (MSMEs) through a "learn and earn" system.

Implemented in collaboration with Switzerland-based early-stage investing platform Go Beyond, the $300,000 program will have 25 different angel investors participate with $15,000 each during its first year.

The program a...

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Speed@BDD completes second acceleration program. Startups seek a combined $3.5 million capital

Speed@BDD has completed a three-month acceleration program for seven tech startups in which it has invested $210,000. This is the startup accelerator's second program, with a third acceleration program in the offering.

The investment comes under the Central Bank's program which aims to support entrepreneurs in the knowledge economy.

The tech accelerator stated that during the cycle it has invested $30,000 in cash in each startup and an equivalent amount in "in-kind" services cove...

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