This is Beirut 11:00 - Reading : 1 minute(s)
Lebanon Economy Banks Nawaf Salam
This Is Beirut has learned that the legal committee tasked by Prime Minister Nawaf Salam—in coordination with Finance Minister Yassine Jaber—with drafting the financial gap law is composed of a three-member team operating within the orbit of the Kulluna Irada organization. The committee includes attorney Ali Zbib, Judge Rana Al-Akkoum, ...
Salam El Zaatari 22/11 15:30 - Reading : 6 minute(s)
Lebanon Economy Cash Hezbollah
Lebanon finds itself in a paradox. While its broader economy is collapsing, the food-and-beverage (F&B) sector is showing surprising vitality. It may look like a feel-good tale of resilience, but in fact it reveals one of the greatest structural threats to Lebanon’s recovery: a cash-based economy that undermines transparency, fuels illicit ...
Liliane Mokbel 22/11 14:00 - Reading : 1 minute(s)
The Civil Service Council has proposed an unprecedented plan: cutting 5,600 positions from the 28,000 currently in the public administration. This 20 percent reduction is described as essential to modernize a state apparatus that has become heavy, costly, and ill-suited to current needs. Most of the positions targeted are already vacant or ...
This is Beirut 21/11 12:20 - Reading : 3 minute(s)
Banks New York USA Tech AI Bubble
Tech firms led stock losses on Friday as investors struggled to shake off fears about an AI bubble, and after a sell-off on Wall Street sparked by job data dealt a further blow to hopes for a US interest rate cut. A blockbuster earnings report from chip bellwether Nvidia on Wednesday seemed to settle nerves that vast investments in the artificial ...
This is Beirut 20/11 12:05 - Reading : 2 minute(s)
USA Saudi Arabia Nvidia Humain AI
Saudi Arabia's state-backed artificial intelligence firm Humain has announced a new partnership with Nvidia, as US officials cleared the way for the sale of advanced microchips to the Gulf kingdom. The announcement came as Crown Prince Mohammed bin Salman visited Washington this week, where the heir to the Saudi throne secured a deal to purchase ...
This is Beirut 20/11 09:50 - Reading : 3 minute(s)
Shoppers could face higher prices for phones, laptops, and other gadgets next year, manufacturers and analysts warn, as AI data centers hoover up memory chips used in consumer electronics. The world's biggest tech companies are plowing head-spinningly huge sums into building the hardware that powers artificial intelligence tools like ...
This is Beirut 19/11 15:15 - Reading : 3 minute(s)
A cautiously tense meeting brought together Finance Minister Yassine Jaber and a delegation from the Association of Banks in Lebanon (ABL), dedicated to discussing the points related to the Financial Gap Law. The talks focused on how the banks, the Lebanese state, and the Central Bank would handle the existing gap and on reassessing the banks’ ...
Liliane Mokbel 19/11 13:50 - Reading : 4 minute(s)
Hezbollah Lebanon US Treasury Digital Dollar Cryptocurrency USDT
Hezbollah’s financing continues to raise serious concerns. A clash is unfolding between international law and the militia, which is using multiple strategies to protect its resources. According to several sources, the group has even turned to digital dollars, particularly Tether, to secure its financial survival. Last week, a US Treasury ...
This is Beirut 19/11 09:40 - Reading : 3 minute(s)
Donald Trump United States Bitcoin Value Economy
What Has Caused the Latest Price Drop? Prior to the recent slump, Bitcoin broke a series of record highs in the wake of Donald Trump's return to the White House. The US president came out strongly in favor of cryptocurrencies before his re-election, and has continued to do so. Bitcoin first surpassed $100,000 in May before reaching its latest ...
This is Beirut 18/11 12:15 - Reading : 2 minute(s)
United States Google AI Bubble Alphabet
The head of Google's parent company, Alphabet, warned that every company would be impacted if the AI bubble were to burst, in an interview to the BBC. Sundai Pichai acknowledged there was "irrationality" behind the boom in artificial intelligence investment, which has fueled a tech rally this year. But fears that the AI bubble could burst have ...
This is Beirut 18/11 11:00 - Reading : 1 minute(s)
Low-cost airline flydubai announced an order for 150 Airbus A321neo jets on Tuesday, more than doubling its fleet as it pursues an aggressive expansion plan. The Emirati company's first Airbus order is an "exciting step in expanding and diversifying our fleet", chairman Sheikh Ahmed bin Saeed Al Maktoum told a press conference at the Dubai ...
Liliane Mokbel 17/11 20:35 - Reading : 3 minute(s)
Lebanon Saudi Arabia Bahrain Gulf Kuwait Trade
Signs of warning relations between Lebanon and Saudi Arabia are becoming increasingly evident. Many see it as long overdue for Lebanon to reclaim its place within its natural sphere: the Arab world. On Monday, Prince Yazid bin Farhan, advisor to the Saudi Foreign Minister, visited Beirut with a technical delegation. The visit aimed to explore ...