Economy

Nvidia's Huang says 'Doing Our Best' to Serve Chinese Market
Nvidia's Huang says 'Doing Our Best' to Serve Chinese Market

Nvidia CEO Jensen Huang said on Wednesday his firm was "doing our best" to serve China's vast market for semiconductors after meeting Beijing officials. Huang is in the Chinese capital this week to attend the China International Supply Chain Expo, a forum for the country to boost its image as the global defender of free trade in contrast to the ...

Trump says Indonesia to Face 19% Tariff Under Trade Deal
Trump says Indonesia to Face 19% Tariff Under Trade Deal

US President Donald Trump said Tuesday that he had struck a trade pact with Indonesia resulting in significant purchase commitments from the Southeast Asian country, following negotiations to avoid steeper tariffs. Indonesian goods entering the United States would face a 19 percent tariff, Trump said in a post on his Truth Social platform. This ...

Agriculture at a Crossroads: Rich Lands, Closed Borders
Agriculture at a Crossroads: Rich Lands, Closed Borders

Lebanon’s land still gives, but the market no longer answers. At a recent Cabinet meeting, Agriculture Minister Nizar Hani issued a stark warning: Lebanese agriculture is at a breaking point. With distribution in crisis, export routes to the Gulf shut down and a stifling economic climate, the sector is being pushed to the edge. “Maritime ...

BDL Takes Action: Ban on Transactions with Al-Qard Al-Hassan & co.
WindowBDL Takes Action: Ban on Transactions with Al-Qard Al-Hassan & co.

The circular (No. 170) published by the Banque du Liban, accompanied by Basic Decision No. 13335, marks a decisive turning point in regulating the Lebanese financial sector. By formally banning banks and financial institutions from any relationship with unauthorized entities, particularly the association Al-Qard Al-Hassan, the Banque du Liban is ...

Nvidia says it Will Resume Sales of 'H20' AI Chips to China
Nvidia says it Will Resume Sales of 'H20' AI Chips to China

US tech giant Nvidia said on Tuesday it will resume sales of its H20 artificial intelligence chips to China, after Washington pledged to remove licensing curbs that had put a stop to exports. The California-based firm produces some of the world's most advanced semiconductors but is not allowed to ship its most cutting-edge chips to China owing ...

EU Could Target 72 Bn Euros of US Goods If Tariff Talks Fail
EU Could Target 72 Bn Euros of US Goods If Tariff Talks Fail

The European Commission on Monday said it was putting forward a new list of US goods worth 72 billion euros ($84 billion) that could be targeted by EU levies if tariff talks with Washington fail. The bloc's trade chief, Commissioner Maros Sefcovic, announced the proposal, "accounting for some 72 billion euros' worth of US ...

Parliamentary Subcommittee Advances Banking Reform Bill
Parliamentary Subcommittee Advances Banking Reform Bill

The parliamentary subcommittee tasked with drafting the long-awaited banking reform bill made significant headway on Monday, as lawmakers inched closer to adopting several key provisions aimed at revamping the financial sector. Chaired by MP Ibrahim Kanaan, the session was attended by Minister of Finance Yassine Jaber, a number of MPs and Central ...

Public Sector Anger Grows Amid State Inaction in Lebanon
Public Sector Anger Grows Amid State Inaction in Lebanon

Lebanese civil servants are once again raising their voices. In a statement issued Monday, the Public Sector League reiterated its full support for the ongoing strike, denouncing what it described as the "neglect of the most basic rights" of Lebanese public employees, who have become "the victims of the state’s collapse and its abdication of ...

Lebanon's Central Bank Partners with K2 Integrity to Exit Grey List
Lebanon's Central Bank Partners with K2 Integrity to Exit Grey List

As part of its strategy to curb the expansion of the informal economy and combat illicit and fraudulent activities, Lebanon’s Central Bank announced on Monday the signing of a cooperation agreement with US-based firm K2 Integrity, which specializes in global risk management, compliance, and financial investigations. The agreement is part of the ...

Bitcoin Rallies Past Record $120,000 as Asian Markets Rise
Bitcoin Rallies Past Record $120,000 as Asian Markets Rise

Bitcoin surged past the $120,000 mark for the first time on Monday, setting a new record as optimism grows around potential regulatory breakthroughs for the cryptocurrency industry this week. The digital asset peaked at $122,571.19 before easing slightly, trading 2.4% higher at $121,952.61. Most Asian markets rose Monday as investors digested ...

Trump Announces 30% Tariffs on EU and Mexican Imports
Trump Announces 30% Tariffs on EU and Mexican Imports

Donald Trump announced on Saturday the imposition of 30% tariffs on products imported into the United States from the European Union and Mexico, a new escalation amid ongoing negotiations ahead of the August 1 deadline, which has raised alarm across Europe. The U.S. president justified the decision in a new letter published on his Truth Social ...

2024: A Year of War and Financial Solidarity
Figure of the week2024: A Year of War and Financial Solidarity

Amid ongoing conflict and persistent economic instability, remittances from Lebanese abroad continue to play a vital role in Lebanon’s financial survival. Since 2006, when remittance flows hit a low of $5.72 billion, the volume of money sent back to Lebanon has fluctuated in response to both domestic and global conditions. The highest level ...