Economy

Bank Reform in Lebanon: Central Authority Under Growing Pressure

This is Beirut 02/06 17:15 - Reading : 1 minute(s)

lebanon Banking Parliament Reform finance auathority

The parliamentary subcommittee tasked with banking reform held a pivotal session to examine Articles 5 and 6 of the draft law proposing the creation of an independent banking authority. Two competing visions are at the center of the debate. The first, supported by Banque du Liban (BDL), calls for the establishment of a new, autonomous body ...

US Stocks Retreat on Heightened Tariff Tensions

This is Beirut 02/06 17:15 - Reading : 2 minute(s)

USA Donald Trump European Union Washington

US stocks mostly slipped Monday on global trade tensions, with China rejecting Washington's accusations that it violated a pact to de-escalate tariffs, while President Donald Trump's plans to double steel levies added to strain with the EU. The Dow Jones Industrial Average slipped 0.4 percent to 42,109.92, while the broad-based S&P ...

Joe Saddi Seeks US Support to Reform Lebanon’s Energy Sector

This is Beirut 02/06 16:50 - Reading : 1 minute(s)

Lebanon Washington Energy Reform Syria WorldBank

Lebanon’s Minister of Energy and Water, Joe Saddi, is on an official visit to Washington, where he has held a series of high-level meetings with United States officials and World Bank representatives in a bid to secure international backing for Lebanon’s ailing energy sector. Saddi met with Laura Lochman, the Deputy Assistant Secretary for ...

SpotlightNintendo Aims to Match Switch Success with New Console

This is Beirut 02/06 10:25 - Reading : 4 minute(s)

Nintendo Switch

Nintendo hopes to match the runaway success of the Switch when its levelled-up new console hits shelves Thursday, with strong early sales expected despite the gadget's high price. Featuring a bigger screen and more processing power, the Switch 2 is an upgrade to its predecessor, which has sold 152 million units since launching in 2017 -- making ...

When Cigarettes Fueled the Economy…

Christiane Tager 31/05 21:00 - Reading : 3 minute(s)

Europe United States USA tobacco Lebanon

For decades, cigarettes were a real nicotine cash cow for governments. A thriving industry, lucrative taxes, countless jobs and mass consumption that, despite health warnings, was an integral part of the global economic and social landscape. But that was before public health got seriously involved. On May 31st, we take a collective breath: it’s ...

Trump Says Will Double Steel, Aluminum Tariffs to 50%

This is Beirut 31/05 19:40 - Reading : 4 minute(s)

United States Tarrifs Donald Trump European Union

US President Donald Trump's announcement that he would double steel and aluminum import tariffs to 50 percent from next week drew ire from the European Union Saturday in the latest salvo in his trade wars aimed at protecting domestic industries. The EU warned it was "prepared" to retaliate against the latest tariffs, adding the sudden move ...

Figure of the weekTwo-Thirds of Families Struggle to Access Quality Food

Liliane Mokbel 31/05 12:00 - Reading : 1 minute(s)

Baalbeck Lebanon wages cost

Save the Children conducted a survey of 4,099 Lebanese households, excluding those in the North and Akkar governorates. The findings reveal that 66% of families surveyed face serious difficulties accessing quality food. The situation is especially critical in the Baalbeck-Hermel region, where 11% of households were unable to obtain enough food to ...

Heavenly Connection: Starlink Offers a Lifeline to Lebanon’s Wi-Fi Woes

Christiane Tager 31/05 10:15 - Reading : 4 minute(s)

Lebanon Internet Starlink

Could Lebanon finally be on the cusp of fast, stable, uninterrupted internet? For once, fingers are crossed—not to reboot the router, but in genuine anticipation. After years of trudging through a digital experience as slow and congested as traffic on the Dora highway, Lebanon may be looking skyward for solutions. Starlink, which provides ...

HighlightEDL Crisis: No Power Without a Regulatory Authority

Liliane Mokbel 30/05 13:00 - Reading : 4 minute(s)

Banks EDL Energy Power

Power plant maintenance is resuming, the local fuel market is well supplied, and electricity rationing is beginning to ease gradually. These improvements raise the prospect of an average electricity supply of twelve hours per day. Yet, without activating the Regulatory Authority – mandated by law for more than twenty years – the resolution of ...

Lebanon’s Real Estate Market: Tentative Signs of Recovery Amid Persistent Challenges

Christiane Tager 29/05 22:05 - Reading : 3 minute(s)

lebanon Beirut corruption Achrafieh Baabda

The “political stabilization” that followed Aoun’s election in January delivered an immediate boost to Lebanon’s real estate market. “All the buyers who had been hesitant for years rushed in during the first quarter,” says Karl Kanaan, Sales Director at S. Gestion, speaking to This is Beirut. As a result, “A significant number of ...

HighlightEnergy Crisis: Lebanon Between Regional Opportunities and Internal Blockages

Liliane Mokbel 29/05 13:00 - Reading : 3 minute(s)

EDL Europe Hezbollah US Congress Energy

Arab support for the revival of Lebanon’s energy sector is back in the spotlight. On the sidelines of the Arab Summit in Amman, Prime Minister Nawaf Salam reopened this crucial file with his Jordanian counterpart. Shortly after, Lebanese Finance Minister Yassine Jaber and Energy and Water Minister Joe Saddi discussed the main points of energy ...

EditorialIMF: Three Billion to Bury 85 Billion? No, Thank You.

Marc Saikali 29/05 11:30 - Reading : 4 minute(s)

International Monetary Fund Europe Gulf Hezbollah

The International Monetary Fund wants to lend $3 billion to Lebanon. On paper, it’s an "opportunity" to get a devastated country back on its feet. In reality, it’s a cruel joke. Lebanon is staring into an $85 billion abyss - a gaping hole dug by decades of mismanagement, clientelism, and public governance as cynical as it is incompetent. In ...