Liliane Mokbel 2024-02-01 19:36 - Reading : 3 minute(s)
The destiny of the Finance Law remains uncertain. Every budgetary article voted by Parliament is subject to invalidation appeal before the Constitutional Council once the text is promulgated and published in the Official Gazette. Before the final version of the 2024 budget was released, an outcry erupted over an article that was introduced during ...
2024-01-31 23:11 - Reading : 5 minute(s)
A 10% "extraordinary tax" imposed on businesses benefiting from the government's subsidy policy, introduced at the last minute into the 2024 budget, sparked widespread anger. Unions and economic organizations alike denounce it as an arbitrary and, mostly, “unfair” penalty. After oil-importing companies suspended fuel deliveries since ...
2024-01-31 15:09 - Reading : 4 minute(s)
Fuel importing companies will hold a press conference on Wednesday at 3 PM to explain the reasons behind the decision taken on the previous day to suspend the delivery of gasoline, diesel and gas starting the following day. They contest the "exceptional tax" of 10% imposed on the total turnover of oil importing companies over a period of two ...
This Is Beirut 2024-01-31 14:56 - Reading : 1 minute(s)
The purchase of property by foreigners has seen a slight increase in recent years, despite Lebanon's current crisis, according to data from the General Directorate of land registry. Information International, a Beirut-based research consultancy, notes that the area owned by non-Lebanese was 38,677,856 m² at the end of 2019. By the end of 2023, ...
This Is Beirut 2024-01-31 14:54 - Reading : less than a minute
The Union of Private Hospitals called on oil-importing companies to exempt hospitals from their decision to suspend fuel deliveries. In a statement published on Wednesday, it called on the companies to "immediately supply them with fuel, in order to preserve patients' lives." The union also warned of "the serious repercussions of this decision ...
Nicolas Sbeih 2024-01-31 11:45 - Reading : 4 minute(s)
It seems that the Beirut Stock Exchange is the next victim of the creeping state genocide. In reality, it's not the stock exchange itself that's directly targeted; it should continue to operate, but rather the Capital Markets Authority, which oversees its management. Persistent information and rumors indicate a forced and collective resignation of ...
2024-01-30 23:35 - Reading : 4 minute(s)
The wave of recriminations has once again engulfed Lebanon's public sector, which went on total strike on Tuesday, January 30, until February 9. Civil servants are denouncing a government that failed to keep its promises and commitments. The Lebanese public administration is on strike starting today, January 30, until February 9. The strike was ...
Liliane Mokbel 2024-01-30 21:33 - Reading : 3 minute(s)
The issue of the bank dollar exchange rate remains unresolved. Parliament withdrew from this task during the review of the 2024 Budget, while the Central Bank of Lebanon (BDL) is taking its time to decide on the matter. The acting governor of the Central Bank of Lebanon, Wassim Mansouri, is expected to arrive in Beirut from Paris on Tuesday ...
This Is Beirut 2024-01-30 13:13 - Reading : 1 minute(s)
Lebanon's Corruption Perception Index (CPI) 2023 is 24/100 and the country ranked 149th out of 180, recording its lowest score in three years. This confirms the need for urgent remediation and corrective action, says the annual report of Transparency International, a leader in the fight against corruption, published on Tuesday. The organization ...
This Is Beirut 2024-01-29 23:09 - Reading : 2 minute(s)
The board of the International Confederation of Lebanese Businesspeople (MIDEL), which met under the chairmanship of Fouad Zmokhol, considered that the budget should not purely involve accounting but should be based on a strategic, economic and financial vision and outlook. Commenting on the finance law approved by Parliament on Friday, it noted ...
Maurice Matta 2024-01-29 13:31 - Reading : 5 minute(s)
The Lebanese Parliament approved last weekend, within the constitutional timeframe, the draft budget law for the year 2024, after bringing in the necessary amendments. However, the draft law neglected to include crucial reforms that could help the country come out of its financial collapse. The Parliament-approved budget underwent a thorough ...
This Is Beirut 2024-01-29 12:55 - Reading : 4 minute(s)
Oil prices rose on Monday due to fresh Middle East fears, as President Joe Biden pledged to retaliate after blaming Iran-backed rebels for a deadly attack on US troops, while equities were boosted by China's latest move to support its troubled markets. The drone strike on a base in Jordan, which came days after the Houthis struck a vessel in the ...