Economy

Residential Leases: A Never-Ending Reform
Residential Leases: A Never-Ending Reform

The issue of former tenants of residential properties remains stalled. While waiting for a resolution, it is the property owners who are bearing the brunt of this paralysis, penalized by a poorly defined law on old rental agreements. Facing the deadline for the liberalization of residential leases, many former tenants are turning to the courts to ...

EU Pauses Tariffs as Trump Eases Trade Pressure, China Left in the Crosshairs
EU Pauses Tariffs as Trump Eases Trade Pressure, China Left in the Crosshairs

The EU paused plans for retaliatory tariffs on US goods Thursday after President Donald Trump abruptly suspended higher US duties on the bloc and other countries, leaving China in the crosshairs of his trade war. Trump's about-face on Wednesday triggered a massive market rebound, but Wall Street's rally fizzled on Thursday, and the dollar slumped ...

Italy’s Prada Says to Buy Rival Versace for 1.25 Bn Euros
Italy’s Prada Says to Buy Rival Versace for 1.25 Bn Euros

Italian fashion house Prada announced Thursday that it had reached a deal with US group Capri Holdings to buy Versace for 1.25 billion euros ($1.39 billion). The acquisition will create a luxury group with revenues of over 6 billion euros, which could better compete with industry giants such as the French conglomerates LVMH and Kering amid a ...

Before Restructuring Banks, the Government Must Acknowledge the Systemic Crisis
Before Restructuring Banks, the Government Must Acknowledge the Systemic Crisis

Lebanon’s Cabinet approved on Tuesday the statement of justification for the draft law on the reorganization of banks, with a follow-up session scheduled for Friday to finalize the text. The initiative is framed by two core principles the government says it upholds: safeguarding depositors’ rights and revitalizing the banking sector so it can ...

US Dollar Slumps on Stop-Start Tariffs
US Dollar Slumps on Stop-Start Tariffs

The US dollar plunged against the euro and other main rivals again on Thursday after President Donald Trump abruptly paused higher tariffs on all countries except China, adding to investor uncertainty. The greenback lost over one percent against the European single currency, as markets also expected data later in the day to show US inflation ...

EU Suspends Counter-Tariffs for 90 Days After US U-Turn
EU Suspends Counter-Tariffs for 90 Days After US U-Turn

EU chief Ursula von der Leyen said Thursday the bloc will suspend a planned package of tariffs on US goods "to give negotiations a chance" after President Donald Trump's U-turn on massive duties. "While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for ...

Passenger Traffic at Beirut Airport Declines Slightly in Q1 2025, But Arrivals Rise
Passenger Traffic at Beirut Airport Declines Slightly in Q1 2025, But Arrivals Rise

Passenger traffic at Beirut International Airport (BIA) saw a slight decrease in the first quarter of 2025, with a total of 1,254,550 passengers, representing a 1.42% drop compared to the same period in 2024, when the airport recorded 1,272,625 travelers. However, there was a positive trend in arrivals, which increased compared to last year. The ...

Customs Duties: When China Gets Hit with a Tax — and We Get a Shock at the Checkout!
Customs Duties: When China Gets Hit with a Tax — and We Get a Shock at the Checkout!

American president Donald Trump announced on Wednesday that he would suspend his “reciprocal” customs surtaxes for 90 days. However, this decision does not apply to China. With the new American customs duties taking effect — reaching an impressive 104% for certain Chinese products — many American companies that have long relied on China to ...

Trump’s Tariff Disruption: Chaos or Strategy?
Op-edTrump’s Tariff Disruption: Chaos or Strategy?

In the age of globalization, few leaders have dared to question the structure that underpins the modern world economy. Donald Trump didn’t just question it, he took a wrecking ball to it. His tariff-first economic approach, widely criticized as reckless, may actually represent the beginning of a hard but necessary conversation: Should America ...

Trump's Tariff Pause Gives Market Relief, but China Trade War Intensifies
Trump's Tariff Pause Gives Market Relief, but China Trade War Intensifies

US President Donald Trump abruptly paused tariffs on most countries, sparking euphoria on global markets Thursday, but upped the ante on a brutal trade war with superpower rival China. After days of turmoil, stocks on Wall Street and across Asia saw huge surges in reaction to Trump's announcement that he was halting a levy hike for almost all ...

Oil Price Drop: Key Factors Explained
Oil Price Drop: Key Factors Explained

Oil prices plunged on Wednesday due to the escalating trade war between the United States and China, with Brent crude falling below $60 per barrel for the first time in four years. At around 11:20 GMT (13:20 in Paris), the price of North Sea Brent crude for June delivery dropped by 5.52% to $59.35, briefly reaching a low of $58.47 during the ...

Lebanon Plunged into Nationwide Blackout Following Power Plant Failure
Lebanon Plunged into Nationwide Blackout Following Power Plant Failure

Lebanon was plunged into a nationwide blackout on Wednesday afternoon after a technical failure at the Deir Ammar power plant led to a complete shutdown of electricity production across all thermal power stations operated by Electricity of Lebanon (EDL). The outage, which began around 1:30 PM, disrupted power supply across vast swaths of the ...