Economy

Figure of the week82% of Lebanon's 2024-2025 Budgets Allocated to Public Sector Operational Costs

Liliane Mokbel 01/03 12:00 - Reading : less than a minute

According to Labora, a Lebanese NGO focused on reducing unemployment, 82% of the 2024 Finance Law and the 2025 budget proposal are allocated to cover the public sector's operational costs. This exceeds the World Bank's 30% threshold, beyond which it refuses to finance budgets, as it views such high spending as a risk of public fund mismanagement ...

Food Products and Prices: Ramadan Marked by Abundance and Stability

Christiane Tager 28/02 22:35 - Reading : 2 minute(s)

Hezbollah Israel

During Ramadan, families devote extra care to their meals, increasing food expenses by 18.2%, according to a 2024 survey. More of their budget goes toward iftars and suhoors, with a preference for traditional products and Ramadan-specific dishes. However, after years of crises and conflicts, many Lebanese are worried about product availability and ...

Kanaan Calls for Reform Budget, Audited Accounts, and Independent Justice

This is Beirut 28/02 18:35 - Reading : 2 minute(s)

Lebanon Ibrahum Kanaan Budget

The chairman of the Finance and Budget Parliamentary Committee, MP Ibrahim Kanaan, emphasized that implementing reforms in Lebanon's public finances requires addressing four key areas: the tax system, the budget, financial accounts, and public borrowing. He made these remarks during a conference on public finance reforms at the Ecole ...

Economic Organizations Applaud Decision to Reject Public Loans

This is Beirut 28/02 18:15 - Reading : less than a minute

Yassine Jaber Finance Lebanon

In a statement on Friday, economic organizations, led by former Minister Mohammad Choucair, praised Finance Minister Yassine Jaber’s decision to reject public loans and actively address the informal economy. The organizations stated that this decision reflects the minister’s serious commitment to controlling public spending across various ...

World Bank Commits $250 Million to Lebanon’s $1 Billion Fund

This is Beirut 28/02 17:25 - Reading : 2 minute(s)

Banks World Bank Lebanon Yassine Jaber

The World Bank (WB) has allocated $250 million toward Lebanon’s recovery, as confirmed by Ousmane Dione, the WB Vice President for the Middle East and North Africa, following a meeting with Finance Minister Yassine Jaber on Friday. Dione further emphasized the aim to secure an additional $250 million by partnering with a group of international ...

Hezbollah's Financing From Iran Undermined Following Assad's Fall in Syria

Liliane Mokbel 28/02 13:25 - Reading : 3 minute(s)

Hezbollah Iran Syria Finances

Hezbollah continues to pay salaries to its leaders, but the long-term sustainability of this practice is increasingly uncertain. The challenges in receiving Iranian funds have grown, compounded by the closure of hard drug production facilities in Syria. The land route to transfer these funds through Syria has been entirely shut down, and the air ...

Hello… Hello, Everything Is Falling Apart!

Christiane Tager 28/02 11:10 - Reading : 4 minute(s)

Lebanon Telecommunication Alpha Touch

Everything is falling apart! It's nearly impossible to normally connect to the web or make a phone call without constant interruptions. To make matters worse, outages and technical failures continue to spread across the country, even though the price hikes needed to sustain the sector have already been enforced. It’s long overdue for urgent ...

China Vows 'All Necessary Countermeasures' Over Latest US Tariffs

This is Beirut 28/02 09:35 - Reading : 1 minute(s)

USA Donald Trump United States Washington

China on Friday vowed to take "all necessary countermeasures" after US President Donald Trump said he would impose an additional 10 percent tariff on Chinese imports. Trump's latest move is due to enter effect on Tuesday alongside sweeping 25 percent levies on Canadian and Mexican imports, intensifying a brewing trade war between ...

Trump to Impose New Tariffs on China, Mexico, and Canada as of Next Week

This is Beirut 27/02 19:15 - Reading : 2 minute(s)

Donald Trump Tariffs China Canada Mexico

US President Donald Trump said Thursday that he would impose an added 10 percent tariff on Chinese imports while moving ahead with levies on Canada and Mexico next week, citing "unacceptable" fentanyl smuggling. Trump had announced – then halted – sweeping 25 percent levies on Canadian and Mexican imports this month over illegal immigration ...

Trade Exchange Between Lebanon and the European Union: Decline in Exports and Imports in 2024

Maurice Matta 27/02 18:00 - Reading : 3 minute(s)

Lebanon European Union Trade Export

Lebanon entered into the Partnership Agreement with the European Union in March 2003. On November 11, 2016, the Partnership Priorities and the Mutual Package between Lebanon and the European Union were approved, aiming to enhance mutual interests and improve economic cooperation. According to the latest trade figures in a report prepared by the ...

US stocks mixed on Nvidia results, latest Trump tariff talk

This is Beirut 27/02 17:30 - Reading : 1 minute(s)

Donald Trump USA Wall Street Stocks

Wall Street stocks were mixed early Thursday following solid results from Nvidia as markets digested the latest tariff news from US President Donald Trump. Nvidia reported a net income of $22 billion in the fourth quarter as it cited "amazing" demand for its Blackwell chip technology. Analysts at UBS rated Nvidia's numbers as "good enough" while ...

French Finance Minister: EU Will 'Do the Same' if US Imposes Tariffs Hikes:

This is Beirut 27/02 17:25 - Reading : 2 minute(s)

European Union USA Donald Trump G7

French Finance Minister Eric Lombard told AFP on Thursday that the European Union would "do the same" if the United States follows through with 25 percent tariffs announced by President Donald Trump. Trump threatened Wednesday to impose 25 percent tariffs on goods imported from the European Union. "It is clear that if the Americans maintain the ...