Economy

Port Authorities Expediting Customs Clearance for Food Imports
Port Authorities Expediting Customs Clearance for Food Imports

General Manager of the Port of Beirut Omar Itani announced on Tuesday that the port would be working around the clock to complete the formalities required to clear imported food products through customs, in order to ensure food safety. In a statement, he said that all port staff would be on hand to complete the formalities for imported food ...

Food Importers Demand Faster Customs Processing
Food Importers Demand Faster Customs Processing

The Syndicate of Food Importers, chaired by Hani Bohsali, called on the relevant ministries and departments to take exceptional and rapid measures to expedite customs clearance and formalities for imported food products at the port of Beirut. This appeal was made in light of the delicate circumstances Lebanon is currently facing, to ensure the ...

Fitch Maintains Lebanon’s RD Rating Amid Data Shortages
Fitch Maintains Lebanon’s RD Rating Amid Data Shortages

Ditch Ratings maintained last week Lebanon’s “Restricted Default (RD)” status on its long-term foreign currency public debt. The agency also announced its intention to withdraw Lebanon’s ratings due to insufficient information caused by the unavailability of key data. This decision underscores the Lebanese government’s failure to ...

Shortage of Dollar Bills: A Logistical Issue
Shortage of Dollar Bills: A Logistical Issue

According to Majd al-Masri, the president of the Syndicate of Money Changers in Lebanon, there is no actual shortage of dollar bills in the Lebanese market. He asserts that the delays in fulfilling customers' currency exchange requests are due to a logistical issue that will soon be resolved. Mr. Masri reassures that fears of a dollar shortage are ...

Bohsali: Food Stocks Are Enough for Three Months
Bohsali: Food Stocks Are Enough for Three Months

With the deteriorating situation in south Lebanon and the fear of a major offensive, the Lebanese are worried about shortages of all kinds. However, Hani Bohsali, the President of the Syndicate of Food Importers, reassured the public that there is no need to panic, as stocks of food products available in Lebanon are sufficient for at least three ...

Ogero: Yet Another Strike
Ogero: Yet Another Strike

  The Ogero Employees’ Union, representing Lebanon's public provider of fixed telephony and Internet, staged a warning strike on Monday. During a sit-in outside the Ministry of Telecommunications, the union warned that if their demands were not met, employees would initiate an indefinite strike. This marks the fifteenth strike in ...

Rental Law: The Extension Period Officially Ended!
Rental Law: The Extension Period Officially Ended!

  Civil Judge Alaa Bashir, overseeing rental disputes in Metn, issued a ruling declaring the nine-year extension period under the new rental law to end on December 28, 2023. The ruling states that the tenant will be residing without legal justification after this date and orders him to vacate the rented property and return it vacant to the ...

Outage on the Alfa Network
Outage on the Alfa Network

The mobile operator Alfa issued a statement in response to the slowdown and /or malfunction of its Internet service, indicating that certain regions of Lebanon are experiencing a slowdown in Internet service due to a partial network failure. The operator assured that technical teams are working to resolve the problem as quickly as possible.

Corm: Funds for Ogero Network Maintenance to Be Released
Corm: Funds for Ogero Network Maintenance to Be Released

Caretaker Minister of Telecommunications Johnny Corm assured, on Friday, that he would receive “in stages the funds allocated to him in the 2024 budget to maintain the communication networks of the public telephone and internet provider, Ogero.” Corm stated that he was working to find a solution to Ogero employees' strike, due to start next ...

Mansouri Highlights the Importance of Structural Reforms
Mansouri Highlights the Importance of Structural Reforms

A delegation from the Lebanese Business Association (LBE), led by its President Bassem al-Bawab, visited the acting Governor of the Central Bank, Wassim Mansouri. During the meeting, Mansouri presented Lebanon’s monetary, financial, and economic situation, the Central Bank’s next steps, the requirements for the banking sector’s development, ...

Summer 2024: Falling Short of 2023
Summer 2024: Falling Short of 2023

Although the summer of 2024 started with a bang, it seems less promising than that of 2023. The initial figures for the season are not as good as those of last year, although they remain satisfactory overall. One thing is certain: Lebanon has once again won over the hearts of expatriates. Despite the ongoing conflict in Gaza and southern Lebanon, ...

Civil Servants Speak Out, Threaten Work Stoppage
Civil Servants Speak Out, Threaten Work Stoppage

The Civil Servants' Union has once again taken a stand on Thursday, demanding a readjustment of salaries and threatening a work stoppage. In a statement, the union called on "the government to fulfill its promises and to advance a project for a fair and equitable salary readjustment that takes into account inflation and the cost of living, while ...