Economy

Games Industry in Search of New Winning Combo at Gamescom 2025
Games Industry in Search of New Winning Combo at Gamescom 2025

The global games industry gathers for the vast Gamescom trade fair in Cologne this week, with hopes that upcoming heavy-hitters like "GTA VI" can help the industry escape its doldrums. Tuesday's opening night event will show off major releases slated for the months ahead, with the starring role going to "Black Ops 7" -- the new installment in the ...

‘Standard & Poor’s’ Maintains Lebanon’s Foreign Currency Rating at SD, Warns of Weak Governance
‘Standard & Poor’s’ Maintains Lebanon’s Foreign Currency Rating at SD, Warns of Weak Governance

The international credit rating agency Standard & Poor’s has raised Lebanon’s long-term local currency rating to CCC with a stable outlook, while maintaining its foreign currency rating at SD, according to Reuters. The agency explained that the risks of Lebanon defaulting on local debt remain, due to spending pressures, limited access to ...

Tourism: A Core Driver of Lebanon’s Economy
Figure of the weekTourism: A Core Driver of Lebanon’s Economy

In 2024, the travel and tourism sector contributed 19.8% of Lebanon’s GDP, more than double its share in 2023 (8.4%), according to the World Travel & Tourism Council (WTTC). This marks a significant rebound from 2019, when the sector represented 18.9% of GDP, before Lebanon faced a series of overlapping crises. In terms of revenue, the sector ...

Golden Controllers: The Hidden Economy of Video Games
Golden Controllers: The Hidden Economy of Video Games

Free to play… yet astonishingly profitable, today’s video games turn our clicks into cash. Microtransactions, virtual concerts and blockbuster partnerships have made Fortnite, Candy Crush and their peers billion-dollar giants. And in Lebanon, players show no sign of putting down their controllers anytime soon. Video games, once seen as mere ...

Starlink in Lebanon: Hopes, Fears and the Battle for the Digital Sky
Behind the ScenesStarlink in Lebanon: Hopes, Fears and the Battle for the Digital Sky

On Wednesday, Telecommunications Minister Charles Hage removed from the Cabinet agenda a draft law aimed at regulating Starlink’s entry into Lebanon. Officially, the move allows for further study. Unofficially, the issue is already fueling political tensions and heated debate: Is it a threat to digital sovereignty or an opportunity to ...

The Court of First Instance in Mount Lebanon Allows the Lifting of Seizures on Bank Assets
SpotlightThe Court of First Instance in Mount Lebanon Allows the Lifting of Seizures on Bank Assets

The Court of First Instance in Mount Lebanon, through its Third Chamber handling real estate matters and composed of judges Yamen El-Hajjar (presiding), Elissia Abou Jaoudeh, and Fatima Bazzi, issued a key ruling in a case filed by Mrs. Sara Audi Attaya, represented by her attorney Riad Hallaj, challenging a decision by the Baabda Land Registry ...

Private Generators in Lebanon: The Toll of a Profitable, Highly Polluting Industry
SpotlightPrivate Generators in Lebanon: The Toll of a Profitable, Highly Polluting Industry

On Wednesday, the Lebanese government announced a crackdown on one of the most visible symbols of the country’s failed public electricity sector: private generators. During a ministerial meeting chaired by Prime Minister Nawaf Salam, operators were given a maximum of 45 days to comply with legal and environmental standards. After that ...

EDL: Years of Neglect Behind Lebanon’s Power Cuts
EDL: Years of Neglect Behind Lebanon’s Power Cuts

In a statement released Thursday, Electricité du Liban (EDL) said Lebanon’s electricity network continues to struggle after years of neglect and chronic underinvestment, with key infrastructure destroyed in the 2020 Beirut Port explosion still unreplaced. EDL identified three main causes for the recurring power cuts: production capacity at ...

Bitcoin Hits Record High Above $124,000
Bitcoin Hits Record High Above $124,000

Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favorable US legislation and a rise in US equities. The cryptocurrency rose above its previous July record, briefly exceeding $124,500 before retreating. US stocks ended higher Wednesday, with the S&P 500 index and the tech-heavy Nasdaq reaching new ...

Lebanon’s Waste Crisis: A Never-Ending Saga
HighlightLebanon’s Waste Crisis: A Never-Ending Saga

The Parliamentary Environment Committee met on Wednesday under the chairmanship of MP Ghayath Yazbeck, joined by Minister of Environment Tamara el-Zein and Minister of Finance Yassine Jaber. Lawmakers discussed amending Article 28 of Law No. 80/2018 to allow municipalities to charge for waste treatment at actual cost in the currency currently in ...

Commercial Leases: Latest Amendments to Law No. 11
Commercial Leases: Latest Amendments to Law No. 11

Law No. 11 was adopted in December 2023 and has already been challenged twice before the Constitutional Council: first by the President of the Republic, General Joseph Aoun, and then by thirteen MPs. Parliament passed its latest amendments on Thursday, July 31, 2025, hoping this version would be definitive and escape further ...

When Luxury Faces Economic Headwinds
When Luxury Faces Economic Headwinds

Tourism has long been the lifeblood of luxury, injecting vitality and a steady flow of affluent clients into prestigious fashion houses. Each summer, cities like Paris, Milan and Tokyo transform into prime destinations for wealthy international shoppers eager to find unique pieces and limited editions. In 2024, the system worked smoothly: a ...