Economy

Oil Prices Drop as Israel Agrees to Ceasefire Proposal

This is Beirut 24/06 10:40 - Reading : 3 minute(s)

Israel Ceasefire Donald Trump Middle East Oil Markets

Oil prices sank more than five percent Tuesday after Israel said it had agreed to US President Donald Trump's proposal for a bilateral ceasefire with Iran. Shares in Asia were buoyant, as fears of an energy market shock eased following 12 days of war between Israel and its arch-foe. London, Paris and Frankfurt also rose at the open. At around ...

Oil Prices Fall More than 7% after Iran Attacks US Military Base

This is Beirut 23/06 22:44 - Reading : 1 minute(s)

United States Qatar Iran Israel Middle East Oil & Gas

Oil prices sank more than six percent Monday after Iran attacked a US military base in neighboring Qatar in retaliation for US weekend strikes on Iranian nuclear facilities. Near 1815 GMT, futures for West Texas Intermediate fell 7.22 percent to $68.51 a barrel, while Brent oil futures dropped 7.18 percent to $72.07 a barrel, its lowest level in ...

UAE, KSA, Egypt Top Arab FDI in 2024 as Lebanon Ranks 6th

This is Beirut 23/06 16:50 - Reading : less than a minute

Saudi Arabia United Arab Emirates United Nations Egypt lebanon Investment

The United Arab Emirates (UAE), the Kingdom of Saudi Arabia (KSA) and Egypt topped the list of Arab countries attracting foreign direct investment (FDI) in 2024, according to the latest data released by the United Nations Conference on Trade and Development (UNCTAD). Lebanon made notable progress, climbing to 6th place in the regional ...

Travel Agencies Hit Hard, as Lebanese Cancel Trips Abroad

This is Beirut 23/06 13:30 - Reading : 1 minute(s)

Lebanon Israel Iran Beirut Turkey Tourism

The disruption or cancellation of Beirut-bound regular flights, which had stranded hundreds of Lebanese in Egypt’s Sharm el Sheikh resort due to the escalating confrontation between Iran and Israel, discouraged many from taking summer breaks outside Lebanon. Travel agencies are bracing for significant losses with the increasing number of ...

Bekaa Farmers Urge Saudi Arabia to Reopen Agricultural Markets

This is Beirut 23/06 12:25 - Reading : 2 minute(s)

Lebanon Saudi Arabia Agriculture Bekaa Export Potatoes

The head of the Bekaa Wheat and Grains Farmers’ Union and member of the Potato Growers’ Syndicate, Najib Fares, has made an urgent appeal to Saudi Arabia’s leadership on behalf of Lebanese farmers. Addressing King Salman, Crown Prince Mohammed bin Salman, and the Saudi authorities, Fares called for the reopening of Saudi markets to Lebanese ...

Lebanon on the Brink: War Fuels a Deepening Economic Crisis

Liliane Mokbel 21/06 17:55 - Reading : 3 minute(s)

Banks Hezbollah Israel

Caught in the crossfire of the Israel-Iran war, Lebanon is struggling — against all odds — to contain the economic fallout. A near-impossible task for a country still reeling from the toll of the Hezbollah-Israel conflict, which left it drained on human, financial and institutional levels. In this climate of escalating regional tension, ...

Figure of the weekLebanese Eurobonds Drop 13% Amid Regional Tensions

Liliane Mokbel 21/06 14:00 - Reading : 1 minute(s)

lebanon Eurobonds war Iran Israël

Lebanese eurobonds, long regarded as one of the most profitable investments in emerging markets in 2024, have sharply declined by 13.15%. This downturn is mainly attributed to the recent outbreak of war between Israel and Iran last Friday, coupled with ongoing stalemates in structural reforms and sovereign debt restructuring. These ...

Six Million Dollars to Modernize Public Finances

This is Beirut 20/06 17:05 - Reading : 1 minute(s)

Lebanon Finance Ministry World Bank Lebanon Financing Facility

Lebanon has just secured $6 million in aid to strengthen its tax and land systems. This grant, obtained through the Lebanon Financing Facility (LFF), aims to support the Ministry of Finance's reform and digital transformation efforts. Established in January 2020 following the Beirut port explosion, the LFF brings together representatives from ...

Crude Sinks as Trump Delays Decision on Iran Strike

This is Beirut 20/06 11:40 - Reading : 3 minute(s)

Donald Trump Israel Middle East Oil

Oil prices tumbled Friday and equity traders fought to end a volatile week on a positive note after Donald Trump said he would consider over the next two weeks whether to join Israel's attacks on Iran. Speculation had been swirling that Trump would throw his lot in with Israel, but on Thursday he said he would decide "within the next two weeks" ...

Rice Prices Double in Japan as Inflation Accelerates

This is Beirut 20/06 10:25 - Reading : 3 minute(s)

Japan Price Rice

The price of rice doubled in Japan in the 12 months to May, data showed Friday, as an acceleration in inflation piled fresh pressure on Prime Minister Shigeru Ishiba ahead of key elections next month. Polls for parliament's upper house are crucial for Ishiba after public support for his administration tumbled to its lowest level since he took ...

Lebanon’s Tourism: The Endless Summer That Fails to Deliver

Christiane Tager 19/06 23:00 - Reading : 2 minute(s)

Gulf Israel Middle East tourism economy lebanon

Since June 13, the travel sector in the Middle East has faced severe turbulence following clashes between Iran and Israel. And as always, Lebanon — true to its role as the region’s perennial bystander in the wrong place at the wrong time — ends up paying the price, once again caught in the center of the storm. “The sector has suffered ...

The World Bank Unveils a Roadmap to Revitalize the Economy in 2025

This is Beirut 19/06 19:10 - Reading : 2 minute(s)

Banks Middle East World bank Lebanon

The World Bank forecasts real GDP growth of 4.7% for Lebanon in 2025, driven by a recovery in tourism, moderate growth in consumption and the beginnings of renewed confidence, despite persistently weak private investment. This hoped-for rebound is based on the implementation of a one-year multisectoral action plan designed to accelerate ...