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CNN —As overtourism continues to throttle European cities, one destination has taken a step against cruise ships, restricting access to the port. Barcelona has closed its northern port terminal to cruise traffic, after an agreement with the local authorities to move ships further out of town. Cruise ships must now dock at the Moll d’Adossat pier, which is the furthest from the city center. Manfred Gottschalk/The Image Bank Unreleased/Getty ImagesBarcelona is Europe’s biggest cruise port. In contrast, the city’s population is just over 1.6 million, according to 2023 data by the local authorities.
Persons: overtourism, Moll, Lluís Salvadó, Salvadó, Ciutat Vella, Manfred Gottschalk, ” Albert Dalmau Miranda, Jaume Collboni, , Collboni Organizations: CNN, Trade, Cruises, World Trade, , Barcelona, New, Spanish, El Pais Locations: Barcelona, La, Port, , Barcelona’s, Europe’s, , Airbnbs
Cash is king in Lebanon as banks atrophy
  + stars: | 2023-01-31 | by ( Maya Gebeily | ) www.reuters.com   time to read: +4 min
SummarySummary Companies Cash economy replaces once lauded-banking sector'Impossible' for state to collect taxes in cash economy - traderWest frets over money laundering, terrorism finance - diplomatCHTAURA, Lebanon, Jan 31 (Reuters) - The money exchange shop in Lebanon's Bekaa Valley was buzzing with business. Cash is now king in Lebanon, where a three-year economic meltdown has led the country's once-lauded financial sector to atrophy. Even the largely paralysed Lebanese state is moving towards the cash economy: the finance ministry has considered requiring traders to pay newly-increased customs tariffs partly in cash. Paul Abi Nasr, CEO of a textile company, said the cash economy made it "practically impossible" to enforce taxes "because everything can simply stay outside of the banks". "The transformation to a cash economy means the collapse of the economy," said Mohammad Chamseddine, an economic expert at Lebanese research group Information International.
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