Liliane Mokbel 19/07 15:00 - Reading : 1 minute(s)
The Lebanese arak industry is enjoying a remarkable revival. In 2024, exports of this iconic spirit reached 980,000 bottles, up from 700,000 in 2016. This represents a nearly 40 percent increase over eight years. In terms of value, the growth is even more impressive, rising from $3.7 million to $6.2 million, an increase of more than 67 ...
This is Beirut 18/07 12:00 - Reading : less than a minute
Lebanon Fuel Prices Tax Economy motorists
Fuel prices in Lebanon dropped significantly on Friday following the removal of a previously imposed tax. The measure, recently announced by the authorities, comes amid a challenging economic climate marked by persistent currency fluctuations and mounting pressure on consumers’ purchasing power. The decision had an immediate effect, causing a ...
This is Beirut 18/07 10:00 - Reading : 2 minute(s)
Netflix reported stronger than expected second-quarter results Thursday, with profit jumping 45 percent year-over-year as the streaming giant benefited from subscription price increases and a growing advertising business. Revenue climbed 16 percent to $11.1 billion in the quarter ended June 30, beating analyst estimates and the company's own ...
Bassam Abou Zeid 18/07 09:30 - Reading : 3 minute(s)
Lebanon Cyprus Syria Oil economy exploration gas maritime borders
Lebanon’s push to revive oil and gas exploration in its Exclusive Economic Zone remains stuck in limbo. Political gridlock and regional volatility have stalled progress, and even French energy giant TotalEnergies – holder of the license for Block 9 – has yet to take any operational steps or issue public statements. The only current movement ...
Christiane Tager 17/07 21:45 - Reading : 2 minute(s)
Since the start of the year, silver prices have soared nearly 30%, climbing from around $30.40 an ounce in January to nearly $37 in July – levels not seen since 2011. This is a rare surge for a metal that typically moves more cautiously than gold. Crossing the $35 per ounce threshold, silver has caught analysts off guard and stirred excitement ...
Liliane Mokbel 17/07 14:50 - Reading : 4 minute(s)
Lebanon Economy Entrepreneurs Exports New brands Franchise
Faced with soaring import costs and an ongoing multifaceted crisis, Lebanese entrepreneurs have shown remarkable ingenuity. Paradoxically, the country’s challenges have acted as a catalyst, pushing many in the private sector to create their own commercial brands. In a local market hungry for revitalization, particularly following the gradual ...
Christiane Tager 17/07 12:00 - Reading : 2 minute(s)
Since relative calm returned to Lebanon, one might have expected fares to drop. Not quite. Between high taxes, risk premiums, soaring operational costs, and a limited number of flights - not to mention the complete absence of low-cost carriers - travelers are still paying a steep price to fly into Beirut. “Demand hasn’t dipped, driven by ...
This is Beirut 16/07 12:25 - Reading : 3 minute(s)
Donald Trump Washington Nvidia China
Nvidia CEO Jensen Huang said on Wednesday his firm was "doing our best" to serve China's vast market for semiconductors after meeting Beijing officials. Huang is in the Chinese capital this week to attend the China International Supply Chain Expo, a forum for the country to boost its image as the global defender of free trade in contrast to the ...
This is Beirut 16/07 09:17 - Reading : 3 minute(s)
United States Donald Trump Indonesia Tariffs
US President Donald Trump said Tuesday that he had struck a trade pact with Indonesia resulting in significant purchase commitments from the Southeast Asian country, following negotiations to avoid steeper tariffs. Indonesian goods entering the United States would face a 19 percent tariff, Trump said in a post on his Truth Social platform. This ...
Christiane Tager 15/07 21:15 - Reading : 2 minute(s)
Europe European Union Gulf Saudi Arabia Turkey
Lebanon’s land still gives, but the market no longer answers. At a recent Cabinet meeting, Agriculture Minister Nizar Hani issued a stark warning: Lebanese agriculture is at a breaking point. With distribution in crisis, export routes to the Gulf shut down and a stifling economic climate, the sector is being pushed to the edge. “Maritime ...
This is Beirut 15/07 14:50 - Reading : 4 minute(s)
Banks Banque du Liban Central Bank of Lebanon
The circular (No. 170) published by the Banque du Liban, accompanied by Basic Decision No. 13335, marks a decisive turning point in regulating the Lebanese financial sector. By formally banning banks and financial institutions from any relationship with unauthorized entities, particularly the association Al-Qard Al-Hassan, the Banque du Liban is ...
This is Beirut 15/07 09:05 - Reading : 3 minute(s)
Washington Nvidia AI H20 Chips
US tech giant Nvidia said on Tuesday it will resume sales of its H20 artificial intelligence chips to China, after Washington pledged to remove licensing curbs that had put a stop to exports. The California-based firm produces some of the world's most advanced semiconductors but is not allowed to ship its most cutting-edge chips to China owing ...