This Is Beirut 2024-01-25 20:28 - Reading : 2 minute(s)
Tensions in the Middle East could lead to an exacerbation of inflation, warned Christine Lagarde, President of the European Central Bank (ECB). "Tensions in the Middle East and shipping disruptions in the Red Sea could lead to a further rise in inflation rates," she said during a press conference in Frankfurt. Lagarde warned that ...
This Is Beirut 2024-01-25 14:16 - Reading : 5 minute(s)
Bank Audi released its annual economic report titled "Has the Uphill Climb Begun, with the Possibility of an Economic Turnaround?" The report highlights the negative impact of the Hamas-Israel war in the last quarter of the year. Despite an initial improvement, the economy faced a lack of growth. Bank Audi considers 2023 a year of "performance ...
2024-01-24 21:08 - Reading : 1 minute(s)
On Wednesday, the caretaker Minister of Finance, Youssef Khalil, announced four decisions pertaining to the extension of deadlines for some tax payments. These measures grant taxpayers an additional period to fulfill their obligations, thereby avoiding late payment penalties. The deadline for the annual flat and proportional fee imposed on ...
2024-01-24 19:11 - Reading : 3 minute(s)
Since the beginning of the Houthi attacks in November, maritime traffic in the Red Sea has declined by around 70%. This critical situation is disrupting the maritime transport sector and global trade, which is consequently affecting Lebanese trade. Since mid-November, Houthi attacks in the Red Sea have led numerous ship-owners to steer clear of ...
2024-01-24 16:00 - Reading : 1 minute(s)
The League of Civil Servants announced on Wednesday that it will observe a general strike starting Monday, January 29. It is demanding a minimum wage of at least $600. In a statement released on Wednesday, the League highlights that civil servants have been excluded from the salary raises granted to other employees. It condemns the injustice ...
Nicolas Sbeih 2024-01-24 10:15 - Reading : 5 minute(s)
The state finances are taking center stage these days. They are in the spotlight, dominating media headlines and the intros of television news with their Ibn Battouta-style prose. All of this is because we are on the eve of a new era: the state budget has been presented and is at risk of being adopted on time, for the first time in almost 20 ...
2024-01-23 21:05 - Reading : 2 minute(s)
Acting Governor of the Central Bank, Wassim Mansouri, has agreed with the Association of Banks in Lebanon (ABL) to discuss the replacement of Circular 151. This would enable beneficiaries to receive a monthly cash payment of $150. Yet, based on the information available from Tuesday's meeting at Lebanon’s Central Bank (BDL), perspectives between ...
This Is Beirut 2024-01-23 18:59 - Reading : less than a minute
The Ministry of Finance's press office announced in a press release issued on Tuesday that caretaker Finance Minister Youssef el-Khalil will be unable to attend the sessions dedicated to the discussion of the draft budget for the fiscal year 2024 on Wednesday and Thursday, due to health reasons "following surgery." He has informed the caretaker ...
This Is Beirut 2024-01-23 18:58 - Reading : less than a minute
The Association of Banks in Lebanon (ABL) is working to guarantee depositors' rights in the short term while awaiting definitive solutions, it said in a statement issued on Tuesday, following a meeting between its board of directors and Banque du Liban's Interim Governor Wassim Mansouri and deputy governors. They discussed the best possible ...
This Is Beirut 2024-01-23 17:47 - Reading : less than a minute
The Association of Automobile Importers in Lebanon (AAI) has joined economic organizations in calling on MPs from all blocs to assume their national responsibilities and vote for the amended budget. In a press release, the AAI warned that failure to vote on the budget with the amendments made by the parliamentary Finance and Budget Committee in ...
This Is Beirut 2024-01-23 13:58 - Reading : less than a minute
The General Confederation of Lebanese Workers (CGTL) called on MPs on Tuesday to approve the draft budget for fiscal year 2024 with the improvements made by the Budget and Finance Committee. In a statement, the CGTL said that it had examined the draft budget formula for fiscal 2024, amended by the parliamentary Finance and Budget Committee led by ...
Maurice Matta 2024-01-23 12:44 - Reading : 3 minute(s)
Following the adoption of fourteen laws during the Parliament sessions on December 14 and 15 and the decision of the Council of Ministers, during its session on December 19, to issue these laws in the name of the President of the Republic, caretaker Prime Minister Najib Mikati signed only eleven laws, deciding not to publish three others, ...