Economy

Numbers & FiguresAs War Recedes, Oil Prices Plunge and Markets Rally

Christiane Tager 24/06 22:00 - Reading : 3 minute(s)

From Cold Sweats to Cooling Oil: Why Crude Prices Are Plunging After the Iran-Israel De-Escalation A bomb can send oil prices soaring – unless it doesn’t hit as hard as expected. That’s exactly what played out in the markets following Iran’s limited strike on a United States base in Qatar, followed by a surprise ceasefire between Tehran ...

Parliamentary Committees Approve $200 Million WB Loan to Revitalize Agricultural Sector

This is Beirut 24/06 21:20 - Reading : 2 minute(s)

Banks Nizar Hani lebanon GATE World Bank

In a move described as a “decisive step toward economic recovery and food security,” joint parliamentary committees on Tuesday approved a bill allowing Lebanon to sign a $200 million loan agreement with the World Bank (WB) to fund the Green Agri-Food Transformation for Economic Recovery (GATE) program. Backed by the Ministry of ...

SpotlightMinimum Wage: The Debate Heats Up Again

Liliane Mokbel 24/06 21:00 - Reading : 2 minute(s)

Lebanon wages labor ministry

As regional tensions momentarily subside, Lebanese households refocus on their most urgent issue: wages. The minimum wage debate has resurfaced under intense social pressure, yet concrete progress remains elusive. The sudden silence from the labor minister adds to the growing uncertainty. Notably, the latest minimum wage increase did not ...

Parliamentary Committee Debates LBP 2,000 Billion Credit Allocation

This is Beirut 24/06 20:55 - Reading : 2 minute(s)

Banque du Liban NSSF Ibrahim Kanaan lebanon Adel Nassar Finance and Budget Committee Yassine Jaber

The Finance and Budget Committee, chaired by MP Ibrahim Kanaan, convened on Tuesday to review a proposed supplementary credit of 2,000 billion Lebanese liras to the national budget. The session, held in the presence of Finance Minister Yassine Jaber, Justice Minister Adel Nassar, numerous MPs and representatives from key public institutions, ...

Alfa Modernizes: A Data Center, 5G and AI

This is Beirut 24/06 17:45 - Reading : 2 minute(s)

Alfa AI Lebanon

On the sidelines of the 10XICT conference, sponsored by Minister of Telecommunications Charles Hage, CEO of mobile operator Alfa Jad Nassif outlined the main features of ongoing projects aimed at modernizing the network and improving service quality. Indeed, Alfa has embarked on a three-year network modernization plan, with investments covering ...

Oil Slides, Stocks Rise as Trump Says Iran-Israel Ceasefire Holds

This is Beirut 24/06 17:35 - Reading : 3 minute(s)

United States Donald Trump Oil & Gas China Iran

Oil prices sank and stock markets rose Tuesday as US President Donald Trump said a ceasefire between Iran and Israel was taking hold after he berated both countries for violating the truce. In volatile trading, crude futures slumped more than five percent after Trump announced a ceasefire. "This morning's ceasefire further reduced the perceived ...

Lebanon Launches Agricultural Census for Reliable Data

This is Beirut 24/06 12:55 - Reading : less than a minute

Lebanon UN FAO Agriculture Census Data

Lebanon’s Ministry of Agriculture and the Food and Agriculture Organization of the United Nations (FAO) signed on Tuesday a new Technical Cooperation Programme (TCP) to prepare for the next national agricultural census. This agreement marks the beginning of a crucial preparatory phase aimed at reviving the country’s agricultural data systems. ...

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 ...