Economy

Trump Backs Cuomo in NYC: Experience Over Ideology
SpotlightTrump Backs Cuomo in NYC: Experience Over Ideology

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
BDL Launches Judicial Audit of Payments Since 2019

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 ...

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

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
Nintendo Hikes Switch 2 Annual Unit Sales Target

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
US Govt to Become Shareholder in Rare Earths Processing Firm

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 ...

Financial Times Revives Debate Over Hezbollah’s Funding in Lebanon
Financial Times Revives Debate Over Hezbollah’s Funding in Lebanon

On Sunday, the Lebanese market reacted strongly to a Financial Times (FT) investigation suggesting that Hezbollah has been using digital wallets and money transfer companies to raise funds and support its purported “charitable” networks. The companies under scrutiny — providers of digital wallets and money transfer services — quickly ...

135 Million Dollars a Year: The High Cost of Lebanon’s State Rentals
Figure of the week135 Million Dollars a Year: The High Cost of Lebanon’s State Rentals

Every year, the Lebanese state spends 135 million dollars to house its ministries, administrations, and public institutions in rented buildings across the country. This astronomical sum could have been largely saved. With better management of public finances, successive governments could have grouped several ministries under one roof, as is the ...

Lebanon's Industry: Resilient Yet Transforming
Lebanon's Industry: Resilient Yet Transforming

In Lebanon, industry remains both a social buffer and a key provider of foreign currency. Yet its macroeconomic footprint has shrunk, reflecting an economy battered by currency collapse, weak domestic demand, and high energy costs. Caught between export momentum and fragile profit margins, the “made-in-Lebanon machine” moves forward ...

Asia Markets Mostly up on Heels of Apple, Amazon Earnings
Asia Markets Mostly up on Heels of Apple, Amazon Earnings

Asian stock markets mostly rose Friday morning, with a surge in Japanese shares coming after better-than-expected earnings reports from US tech behemoths Apple and Amazon. Investor confidence in artificial intelligence has fuelled a rally in global stock markets this week that saw California-based chip designer Nvidia become the first-ever $5 ...

Saddi Warns Lebanon 'cannot bear any additional debt'
Saddi Warns Lebanon 'cannot bear any additional debt'

Energy and Water Minister Joe Saddi defended his ministry’s energy policy, stressing that Lebanon “has nothing to hide” and is working to stabilize electricity production despite severe financial and technical constraints. In an interview with LBCI, Saddi said that public institutions in the South, including Electricity of Lebanon (EDL) and ...

Nvidia, 1st Company to Top $5 Trillion in Market Value
Nvidia, 1st Company to Top $5 Trillion in Market Value

Artificial intelligence (AI) continues to push the limits – literally. On Wednesday, Nvidia became the first company in the world to surpass $5 trillion in market capitalization, a historical record cementing its dominance in the semiconductor industry. Once a simple graphics card manufacturer, Nvidia has become a cornerstone of the AI ...

Eurowings Expands Lebanese Routes with Direct Flights to Prague and Salzburg
Eurowings Expands Lebanese Routes with Direct Flights to Prague and Salzburg

Good news for Lebanese travelers: the German airline Eurowings, a subsidiary of the Lufthansa Group, is expanding its network from Beirut with two new direct routes to Prague and Salzburg. Based in Düsseldorf, the low-cost carrier already operates flights to Berlin, Düsseldorf, and Stockholm. This expansion marks another step in the recovery of ...