Economy

Lebanon and Iraq Deepen Energy Ties with Renewed Oil Agreement

This is Beirut 06/05 18:27 - Reading : 1 minute(s)

Lebanon Iraq Central Bank Baghdad Energy Oil agreement

Lebanon and Iraq have renewed a key energy deal through which Baghdad will supply Beirut with two million tons of crude oil, now under new payment terms that reflect shifting regional dynamics. In a notable departure from past arrangements, Lebanon has agreed to settle its dues in US dollars via direct transfers from the Banque du Liban, ending ...

Air Links with UAE 'Officially' Re-Established with Landmark Flights to Beirut

This is Beirut 06/05 17:30 - Reading : less than a minute

Joseph Aoun United Arab Emirates Lebanon Beirut International Airport

Three Emirati planes will land on Wednesday at Beirut International Airport, marking the official resumption of air links between the United Arab Emirates and Lebanon, following the lifting of the travel ban on Emirati citizens. This decision, announced by President Mohammed bin Zayed Al Nahyan, will take effect on May 7, following Lebanese ...

A Complicated Fuel Deal

Christiane Tager 05/05 21:45 - Reading : 2 minute(s)

Lebanon Iraq dollars oil

It appears that the fuel partnership with Iraq is under strain – or even under high tension. Since July 2021, Iraq has been Lebanon’s main fuel supplier thanks to a $700 million contract, renewed in 2023, bringing the total to $1.4 billion. In return, Lebanon had committed to delivering Lebanese goods and services, particularly in the medical ...

'Bombshell' OPEC+ Output Hike Hits Oil Price

This is Beirut 05/05 14:34 - Reading : 2 minute(s)

Donald Trump Banks Europe New York Saudi Arabia

Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water in thin trade with major markets closed. The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply. The ...

Lebanon Tops Arab Region in Reliance on Private Generators

This is Beirut 05/05 13:15 - Reading : 1 minute(s)

Irak lebanon Jordan

In Lebanon, electricity has become synonymous with the rumble of private generators. According to recent regional media reports, the country ranks first in the Arab world for dependence on private generators, with a staggering 90% of the population relying on them for power. This widespread use highlights the depth of Lebanon’s chronic ...

NSSF Disburses Nearly LBP 1,500 Billion in Healthcare Payments

This is Beirut 05/05 12:55 - Reading : 1 minute(s)

NSSF Lebanon Economy

The National Social Security Fund (NSSF) announced that it has disbursed nearly LBP 1,496 billion to hospitals, physicians and insured individuals since the beginning of 2025, according to a press release issued by its Public Relations Department. Breaking down the figures, the NSSF detailed that LBP 710 billion was allocated for fixed-fee ...

Saudi Arabia Announces Major Gold Discovery

This is Beirut 05/05 10:45 - Reading : 1 minute(s)

Saudi Arabia Gold Mining

As gold prices surge to historic highs, surpassing $2,300 an ounce amid mounting geopolitical tensions and economic uncertainty, Saudi Arabia announced a major gold discovery that could further cement its position in the global mining sector. Saudi Arabia’s state-owned mining company Ma’aden revealed the discovery of significant gold deposits ...

Jordan to Allow Import of Lebanese Lemons Starting May 10

This is Beirut 05/05 09:20 - Reading : less than a minute

Lemons Jordan Agriculture

In a development welcomed by Lebanese farmers, Jordan will officially begin allowing imports of Lebanese lemons–all varieties included–starting May 10, 2025. The Jordanian Ministry of Agriculture announced on Sunday that it had granted import licenses for Lebanese lemons. Applications for these licenses opened on Saturday, May 3, and will be ...

Iraqi Fuel: $1.4 Billion Debt to Be Settled

This is Beirut 03/05 21:20 - Reading : 1 minute(s)

Electricity Iraq Lebanon

Beirut-Baghdad, a partnership now under high tension! As Lebanon continues to face a chronic energy crisis, Finance and Energy Ministers Yassine Jaber and Joe Saddi embark on a joint visit to Iraq this Monday with the aim of salvaging the fuel oil supply agreement signed in 2021 – under which Baghdad supplies fuel to power Lebanese plants – ...

Figure of the weekOnly 1 in 5 Motorcycles Registered in Lebanon

Liliane Mokbel 03/05 12:00 - Reading : less than a minute

lebanon motorcycles fleet

According to the Traffic and Vehicle Management Authority (commonly referred to as "la Mécanique") and data from the research firm Information International, only 289,000 motorcycles were officially registered in Lebanon as of 2022. However, this number is believed to represent just 20% of the actual motorcycles on the road. In both 2023 and ...

US Approves $3.5 bn Missile Sale to Saudis

This is Beirut 03/05 10:45 - Reading : less than a minute

USA Donald Trump Pope Francis Saudi Arabia Ukraine

The United States on Friday approved a $3.5 billion sale of missiles to Saudi Arabia, ahead of a visit to the kingdom by President Donald Trump. The State Department said it notified Congress of the deal that will include Saudi Arabia's purchase of 1,000 medium-range air-to-air missiles. The AIM-120 missiles, whose principal contractor is ...

AnalysisTrade War: China Navigates the Storm with a Steady Compass

Christiane Tager 02/05 22:00 - Reading : 4 minute(s)

Tik Tok USA Washington China Trade

Since Washington decided to strike hard with 145% tariffs, trade relations between China and the US have shifted from a negotiation table to a boxing ring. The blow is heavy: in 2024, the US alone accounted for nearly $500 billion in Chinese imports, making it Beijing’s largest commercial partner. In real terms, nearly one in five Chinese ...