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Revenues of Lebanon’s telecoms firms down 14%

Lebanon's telecoms operators have posted a 'moderate' decline this year, amid a slowing economy and customers shifting away from text and calls to free messaging and Voice over Internet Protocol (VoIP) applications, The Daily Star has reported. According to figures released by the finance ministry, financial transfers from the telecoms ministry to the Treasury dropped 14.35% in the first five months of the year to $510m, nearly $85m lower than reported in same period last year. "So far this year, there is a small decline in revenues of no more than 3%," caretaker telecoms minister, Nicolas Sehnaoui, told the daily.