Maurice Matta 2024-06-24 11:00 - Reading : 3 minute(s)
In Beirut, the souks in the downtown area are preparing for the reopening of numerous commercial establishments that closed their doors following the economic and financial crisis, the subsequent popular upheaval, and the devastating explosion at the port of Beirut on August 4, 2020, which caused considerable damage to shops and markets. Hopes ...
This Is Beirut 2024-06-23 11:32 - Reading : 1 minute(s)
The caretaker Minister of Energy, Walid Fayad, assured that electricity distribution hours would be increased in July, without specifying when or the number of hours. He revealed that a call for tenders had been launched for the purchase of fuel, which would be delivered in July, enabling production to rise from 550 megawatts to 800 ...
2024-06-22 12:17 - Reading : 3 minute(s)
A few weeks after the dismantling of unlicensed internet transmission networks across Lebanon by teams from Ogero, the public provider of telecommunications and internet services, where do we stand? This Is Beirut provides an update. Contacted by This Is Beirut, outgoing Minister of Telecommunications Johnny Corm states that dismantling is ...
This Is Beirut 2024-06-21 18:38 - Reading : 1 minute(s)
Jean Abboud, president of the Union of Travel and Tourism Agencies in Lebanon, assured on Friday that "Cyprus is not going to close its doors to the Lebanese." He confirmed that "contacts have been made with the Cyprus Embassy in Lebanon," stressing that "things are going well and there is no fear of the island's doors being closed to the ...
This Is Beirut 2024-06-21 17:11 - Reading : 2 minute(s)
The Real Estate Syndicate of Lebanon is pleased to announce the upcoming 2nd Real Estate Forum of Lebanon, titled "The Real Estate and Housing Sector in Lebanon: Between Stagnation and Revival." This important event will take place on June 25, 2024, at the prestigious Phoenicia Hotel in Beirut, under the patronage of caretaker Prime Minister Najib ...
This Is Beirut 2024-06-21 12:43 - Reading : less than a minute
The Central Administration of Statistics (CAS) reported on Friday that Lebanon's Consumer Price Index (CPI) for May 2024 increased by 0.02% compared to April 2024. This rise is notably modest in contrast to the significant increases recorded in 2023 (33.27% in March and 5.35% in May). CAS further specified in their statement that the CPI showed a ...
This Is Beirut 2024-06-20 19:57 - Reading : 2 minute(s)
The Foreign Affairs and Expatriates Committee held a session on Thursday, focused on the findings of a recent World Bank report on the economic and financial repercussions of the Syrian war and the ensuing displacement on Lebanon. The document was presented by World Bank Country Director for the Middle East Department Jean-Christophe Carret. It ...
Liliane Mokbel 2024-06-20 13:24 - Reading : 2 minute(s)
Is this the beginning of the end of the US dollar's hegemony in the world? This is a legitimate question, given Saudi Arabia's refusal to renew its petrodollar agreement with the United States. This half-century-old agreement has made the US dollar a powerful force in the world of finance. Signed on June 8, 1974, between the United States ...
2024-06-19 21:35 - Reading : 2 minute(s)
Despite a very tense situation in southern Lebanon, expatriates were present to celebrate the Adha holiday in Lebanon. Planes were fully booked; guest houses, restaurants, and concerts were also full. This offers a promising preview of the summer season, a cornerstone of the Lebanese economy. Lebanese expatriates are determined, come hell or high ...
This Is Beirut 2024-06-17 22:01 - Reading : 4 minute(s)
Stock markets edged higher on both sides of the Atlantic on Monday despite fading hopes for United States interest rate cuts and worries about political upheaval in Europe, while oil prices rose. Eurozone stocks finished higher while London's blue-chip FTSE 100 dipped into the red. "European markets have risen off the lows of last week but ...
This Is Beirut 2024-06-17 14:27 - Reading : 2 minute(s)
The caretaker Minister of Energy and Water, Walid Fayad, said on Monday that studies had begun for the construction of two renewable energy plants by early 2025. He pointed out that there are 11 licenses for the construction of renewable energy plants, saying that CMA CGM has purchased two and has begun studies to build two renewable energy ...
Liliane Mokbel 2024-06-15 18:15 - Reading : 3 minute(s)
A 17% tax will be applied on profits from transactions carried out by individuals and companies on Sayrafa, the exchange platform of Lebanon’s Central Bank (BDL). The taxable profits are those derived from operations exceeding $15,000 in 2022 and 2023. The decision by Caretaker Minister of Finance Youssef Khalil comes as part of the ...