2024-04-06 15:16 - Reading : 2 minute(s)
The money supply experienced phenomenal growth in Lebanon within one month, increasing by 439% between December 2023 and January 2024. What are the reasons for this, and what does it signify? A recently published report revealed that Lebanon has experienced a significant increase in the circulating money supply, which multiplied by more than five ...
This Is Beirut 2024-04-06 14:59 - Reading : 1 minute(s)
The Caretaker Minister of Economy, Amin Salam, set off for Washington on Saturday to participate in the annual spring meetings of the World Bank (WB) at its headquarters. Salam's itinerary includes a series of meetings with key figures in the US administration, spanning across various departments such as the Departments of State, Treasury, ...
This Is Beirut 2024-04-05 20:53 - Reading : 1 minute(s)
The PMI (Purchasing Managers Index), published by BlomInvest, reached 49.4 points in March compared to 49.1 the previous month. This slight improvement demonstrates a certain flexibility in the local market. Commenting on this figure, BLOM Invest analyst Stephanie Aoun indicated that the PMI recorded a slight increase, primarily due to the ...
This Is Beirut 2024-04-05 15:37 - Reading : less than a minute
Caretaker Minister of Finance Youssef el-Khalil issued a decision on Friday clarifying the tax treatment of interest paid by taxpayers. Accordingly, income taxpayers who pay interest must declare this interest quarterly and pay the tax due within 15 days of the end of each quarter, after deducting tax at the rate of 17% on 50% of this ...
This Is Beirut 2024-04-05 15:22 - Reading : 2 minute(s)
The European Union has insisted on the priority for Lebanon to implement "agreed key reforms (as part of the agreement signed with the International Monetary Fund in 2022)" in order to restore the trust of international actors and Lebanese citizens in the financial system" and help "avoid Lebanon being trapped in a perpetual cycle of ...
This Is Beirut 2024-04-05 14:30 - Reading : less than a minute
During its meeting on Thursday, the Council of Ministers approved the request made by the Banque de l'Habitat (BDH) for a subsidized loan from the Abu Dhabi Development Fund. The government agreed to entrust the Council for Development and Reconstruction (CDR) with the task of contacting the Abu Dhabi Fund for Development and requesting a loan for ...
This Is Beirut 2024-04-05 13:11 - Reading : 1 minute(s)
On Thursday, the Council of Ministers approved an increase in the minimum wage in the private sector to LBP 18 million, as well as a 100% increase in school allowances. Thus, the minimum wage rises from LBP 9 to 18 million, fully declared to the National Social Security Fund and integrated into the basic salary. Regarding school allowances, for ...
This Is Beirut 2024-04-04 21:26 - Reading : less than a minute
The Cabinet approved on Thursday an increase of the minimum wage in the private sector to 18 million Lebanese pounds, as well as a 100% increase in school allowances. Thus, the minimum wage rises from 9 to 18 million pounds, fully declared to Social Security and integrated into the basic salary. With regard to school allowances, for the children ...
2024-04-04 19:01 - Reading : 3 minute(s)
The Cabinet has approved the amount of 880 billion Lebanese pounds for salary increases over the next three months for employees of Ogero, Lebanon's public telecommunications and internet provider. While trying to remain optimistic, the employees' union maintains its deadline of April 15 for the government to meet all of its demands. As ...
This Is Beirut 2024-04-03 17:05 - Reading : less than a minute
The Ministry of Finance announced, in a press release on Wednesday, that it had transferred all civil servants' salaries and retirees' pensions to the Banque du Liban (BDL). Those concerned will be able to collect them from private banks starting Friday morning, April 5. Of note, the Ministry transferred the salaries of military personnel in the ...
This Is Beirut 2024-04-03 17:02 - Reading : less than a minute
Caretaker Minister of Energy Walid Fayad affirmed on Wednesday that "the structural situation of the energy sector has clearly improved." In an interview with LBCI TV channel, he asserted that "the sector could now move in the right direction." "In terms of tariffs, subsidies have been removed, and the foundations have been laid for financial ...
Nicolas Sbeih 2024-04-03 11:55 - Reading : 4 minute(s)
Lebanon has unfortunately become one of the worst countries for investment. It's as if we intentionally sought this. There's no other way to explain it. Our "country risk" was often already problematic. But now, as the crisis engulfs us, even the slightest attempt to start any business has become an uphill battle. The obstacles are surely known to ...