Nicolas Sbeih 2024-02-22 08:49 - Reading : 4 minute(s)
The suspenseful series of "crisis exit plans" is continuing with great success on the government's encrypted channel, maintaining the same theme but varying in style and appellation. Over the past four years, we've had about 10 plans labeled "recovery," "rescue," "restructuring"... But in reality, these plans more closely resembled, in the ...
2024-02-21 21:08 - Reading : 3 minute(s)
The Constitutional Council (CC) suspended on Monday the application of five articles of the budget law for fiscal year 2024, following an invalidation appeal lodged by the Lebanese Forces (LF). What does this mean in practical terms, and what are the consequences of this decision? The Constitutional Council (CC) suspended on Monday the ...
This Is Beirut 2024-02-21 15:20 - Reading : 1 minute(s)
Iskandar Al-Hallak, Director of Treasury at the Ministry of Finance, announced in a press release on Wednesday that, in accordance with a decision taken by caretaker Minister of Finance Youssef Khalil, the department made tax stamp-printing machines available at treasuries in various regions. The assigned official must use the stamp printing ...
This Is Beirut 2024-02-20 21:39 - Reading : 2 minute(s)
A report by the International Labor Organization (ILO) highlights the stagnation of the labor market in the Arab world, which lags behind the economic recovery. It recommends concerted efforts to enhance diversification and create employment opportunities in more flexible sectors. The report indicates that "the unemployment rate in the region is ...
This Is Beirut 2024-02-20 21:15 - Reading : less than a minute
The United Nations announced on Tuesday that they will allocate $100 million to support humanitarian crises in seven different countries, including Lebanon. In addition to Lebanon, the Democratic Republic of Congo, Sudan, Syria, Chad, Niger, and Honduras will benefit from this assistance, which comes from the United Nations Central Emergency ...
This Is Beirut 2024-02-20 16:15 - Reading : less than a minute
Caretaker Minister of Finance Youssef Khalil announced on Tuesday a decision to extend payment deadlines for certain taxes to spare taxpayers from incurring late payment fines. The deadline for filing the annual income tax return, salaries and wages (R5), individual annual statements (R6), and the annual global statement (R7) for the years 2022 ...
This Is Beirut 2024-02-20 16:05 - Reading : less than a minute
Lebanon’s electricity company, Électricité du Liban (EDL) reiterated its warning to public administrations, public institutions, water boards and individuals operating on behalf of the public sector, in the various regions of Lebanon, to pay their electricity bills (old and new), in cash (Lebanese pounds), by February 29. The public ...
Maurice Matta 2024-02-20 10:00 - Reading : 5 minute(s)
A recent decision of the State Council was accepted following a review by the Association of Banks in Lebanon (ABL), which nullified the government's directive in the financial recovery plan to cancel the Lebanese Central Bank (BDL) obligations in foreign currencies to banks. This decision dealt a significant blow to caretaker Prime Minister ...
This Is Beirut 2024-02-19 18:54 - Reading : 2 minute(s)
After Lebanon received a $34 million loan from the World Bank to restore the budgetary management of public services, several rumors started circulating on Monday, claiming that this amount would be distributed to 500 employees of the Ministry of Finance, a piece of information the said Ministry's press office rushed to deny. "In view of the ...
This Is Beirut 2024-02-19 17:46 - Reading : less than a minute
Caretaker Energy and Water Minister Walid Fayad held several meetings on the sidelines of the Seventh Egypt International Energy Conference and Exhibition (EGYPS 2024), which runs until February 21 in Cairo, notably with Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla, Egypt's Prime Minister Mostafa Madbouly and Egyptian ...
This Is Beirut 2024-02-19 15:19 - Reading : 1 minute(s)
Acting Governor of Lebanon’s Central Bank (BDL) Wassim Mansouri commented on the subject of deposit restitution during his visit to London, saying that it is necessary to accept the fact that this "will not happen overnight, but that there are mechanisms in place to return them." He pointed out that "confidence in the banks will not be rebuilt ...
Liliane Mokbel 2024-02-17 19:28 - Reading : 2 minute(s)
A 31.83% surge brought bank assets to $115.25 billion in December 2023, following the Central Bank du Liban (BDL)'s adoption of a new exchange rate of 15,000 Lebanese pounds per US dollar. As for the assets, currency and deposits held with the Central Bank represented a significant 72.99% of the total, witnessing a yearly decline of 23.4% to ...