Economy

Public Finances Recovering, but Stability Remains Fragile

Liliane Mokbel 07/11 17:20 - Reading : 2 minute(s)

Central Bank of Lebanon EDL Lebanon economy finance

The rebound in Lebanese state deposits at the central bank (BDL), estimated at nearly $800 million, marks a rare financial upswing amid the prolonged crisis that began in 2019. It is a welcome breath of fresh air, but still far from a genuine structural recovery of public finances. Above all, this renewed momentum reflects the early stages of a ...

Bsat: IMF Seeks to Impose Losses on Banks... Say Goodbye to Deposits!

This is Beirut 07/11 15:45 - Reading : 3 minute(s)

Lebanon IMF Banks Economy

Lebanese Economy and Trade Minister Amer Bsat made several key statements during his appearance on the television program “Sar El Waet.” He addressed multiple sensitive issues, including the financial-gap law, bank restructuring, and negotiations with the International Monetary Fund (IMF). Bsat emphasized that it is not possible to commit to ...

SpotlightWhen Samir Hammoud Sacrifices Depositors to Please the IMF

This is Beirut 07/11 15:20 - Reading : 4 minute(s)

Lebanon Economy Banks BDL IMF

Negotiation skills refer to the capacities and methods used by an individual when engaging in discussions with another party in order to reach an agreement that satisfies both sides, without sacrificing the rights or interests of either. Key negotiation skills include planning, managing expectations, persuasion, problem-solving, decision-making, ...

Tesla Shareholders Approve Musk's $1 Trillion Pay Package

This is Beirut 07/11 10:56 - Reading : 4 minute(s)

New York Elon Musk Tesla Package

Tesla shareholders on Thursday overwhelmingly endorsed a massive pay package for CEO Elon Musk that could reach $1 trillion. The pay package -- crafted to ensure Musk's continued service to Tesla as the company pursues breakthrough technology on artificial intelligence and robotics -- won more than 75 percent support from shareholders, a Tesla ...

SpotlightWriting Off Banks’ Capital Wipes Out Deposits

This is Beirut 06/11 18:20 - Reading : 3 minute(s)

Lebanon Central Bank Karim Souhaid Yassine Jaber Economy Banks

The Governor of the Central Bank of Lebanon, Karim Souhaid, clarified the situation by declaring that Lebanon’s crisis is not purely a financial one but rather a systemic crisis in which the banking sector has become a victim. This is what Souhaid stated clearly during the parliamentary session dedicated to discussing the 2025 budget draft, ...

Gold: Sell or Buy More?

Liliane Mokbel 06/11 10:00 - Reading : 4 minute(s)

Banks USA China Gold

For years, gold was seen as a safe haven, more a way to store wealth than a true investment. Holding physical gold has traditionally been considered a long-term hedge against inflation. But the surge in the price of the yellow metal in 2025 has shaken that belief. With a rise of more than sixty percent since the start of the year, gold can no ...

Where Were You, Samir Hammoud?

This is Beirut 05/11 16:35 - Reading : 1 minute(s)

Lebanon Banks Economy

High-level banking sources were surprised by comments made by the senior adviser to the Minister of Finance, Yassine Jaber, to the “Al-Markaziya” outlet regarding depositors’ accounts. According to Samir Hammoud’s statement, “If there are irregularities in depositors’ accounts, there are also irregularities in banks’ ...

SpotlightTrump Backs Cuomo in NYC: Experience Over Ideology

This is Beirut 04/11 19:20 - Reading : 3 minute(s)

Donald Trump New York Democrats Israel Palestine

Trump stirred the race by openly urging Jewish voters to reject Mamdani. “Any Jewish person who votes for Zohran Mamdani (…) is a stupid person!!!” he wrote Tuesday on Truth Social, accusing the frontrunner of “hating Jews.” Mamdani, 34, of Indian descent and a vocal supporter of the Palestinian cause, has raised concerns among parts of ...

BDL Launches Judicial Audit of Payments Since 2019

This is Beirut 04/11 18:50 - Reading : 1 minute(s)

Banks Banque du Liban Central Bank of Lebanon

Karim Souhaid, Governor of the Central Bank of Lebanon (BDL), announced Tuesday that the BDL, in coordination with the Ministers of Finance and Justice, will draw up terms of reference for an external financial and judicial audit of all beneficiaries of the basic goods support program since October 17, 2019. The initiative will be launched through ...

SpotlightA Financial Gap Law That Writes Off Deposits and Submits to the IMF

This is Beirut 04/11 13:30 - Reading : 4 minute(s)

Lebanon IMF BDL Central Bank

In appearance, Finance Minister Yassin Jaber sought to present his meeting with the Association of Banks in Lebanon (ABL) delegation at the Ministry of Finance as a broad, constructive session that projected an image of consensus. His public remarks reinforced this impression, suggesting that both sides—the ministry and the banks—were aligned ...

Nintendo Hikes Switch 2 Annual Unit Sales Target

This is Beirut 04/11 10:30 - Reading : 2 minute(s)

Middle East New York Nintendo Console Switch 2

Nintendo said Tuesday it aims to sell 19 million Switch 2 consoles within this financial year, up from its previous target of 15 million for the smash-hit gadget. The Switch 2 became the world's fastest-selling games console after launching in June to a frenzy of excitement from fans of "Super Mario" and other top titles. "The hardware has seen ...

US Govt to Become Shareholder in Rare Earths Processing Firm

This is Beirut 04/11 09:20 - Reading : 1 minute(s)

United States Washington Rare Earths Vulcan Elements

The US government will become a shareholder in a startup specializing in rare earth processing, the company announced Monday, as the United States looks to reduce its dependence on China. Vulcan Elements, based in North Carolina, said the US government is to partner with private investors who will inject $550 million into the firm's capital. The ...