BDL Raises Monthly Withdrawal Limits

This is Beirut 18/06 15:50 - Reading : less than a minute

Banks Banque du Liban Central Bank of Lebanon Lebanon

The Central Bank of Lebanon (BDL) announced on Wednesday a one-year extension of Circulars 158 and 166, initially set to expire on June 30, 2025. The decision, which comes amid a prolonged financial crisis, aims to address the pressing needs of depositors and help preserve social stability. As part of the extension, BDL also increased the monthly ...

Oil Stabilises After Surge, Stocks Drop as Mideast Crisis Fuels Jitters

This is Beirut 18/06 09:50 - Reading : 3 minute(s)

Markets World Oil Price

Oil prices stabilized Wednesday after surging the previous day on fears of a US intervention in the Israel-Iran conflict sparked by Donald Trump calling for Tehran's "unconditional surrender". Iran and Israel exchanged missiles for a sixth day, with the US president's latest comments appearing to dent hopes that the crisis in the Middle East ...

Q&AWhy Stablecoins are Gaining Popularity

This is Beirut 18/06 09:20 - Reading : 3 minute(s)

Banks cryptocurrency USA

Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the US Senate set to vote Tuesday on a bill to regulate such digital tokens. But as stablecoins move closer to the financial mainstream, experts warn that weak regulation could leave investors and the financial system vulnerable. What are ...

All-Risk Insurance in Wartime

Liliane Mokbel 17/06 19:30 - Reading : 2 minute(s)

Gulf Israel Middle East lebanon

While Lebanon remains officially neutral in the military escalation between Israel and Iran, it is already feeling the first economic tremors. Rising regional tensions are starting to weigh on the insurance sector, particularly in maritime and air transport, as well as war-related coverage, all of which rely heavily on reinsurance. Premiums in ...

Drought: Litani River at Its Lowest Level in Years

This is Beirut 17/06 11:50 - Reading : 1 minute(s)

Facing an unprecedented water shortage, the Litani National Authority has sounded the alarm and called for rigorous and cooperative management of water resources. In a statement, the Authority warned of a dramatic drop in water levels in the Qasmiyé–Ras el-Aïn irrigation project, which supplies the regions of Saida and Tyre. According to the ...

Energy Minister Proposes Suspending Tariff Hike on Petroleum Products

This is Beirut 17/06 11:35 - Reading : less than a minute

Israel fuel Tax Petrol

Energy and Water Minister Joe Saddi announced that he has proposed cancelling or suspending the recent increase in customs duties on petroleum products, which was approved by the Cabinet during its session on May 29. “While I fully support the principle of providing financial assistance to all military personnel, both active and retired,” ...

Lebanon Hoped for Tourists and Got War Instead

Christiane Tager 16/06 22:40 - Reading : 3 minute(s)

Beirut International Airport Gulf Israel Turkey

Tourism, a vital sector that accounted for over 20% of Lebanon’s GDP before the 2019 crisis, was poised to provide a much-needed boost to the country’s battered economy. Following Eid al-Adha, hotel occupancy rates in Beirut surged to 80%, signaling a bright season ahead. “We had a surge of bookings for the next two weeks, but they’re ...

The Ministry of Energy Authorizes the Unloading of Fuel from the Minerva Antonia

This is Beirut 16/06 12:30 - Reading : 2 minute(s)

Lebanon Fuel Iraq Electricity

The Ministry of Energy and Water announced on Monday that it has authorized the unloading of the Minerva Antonia’s cargo, following confirmation that the fuel on board complies with current specifications. According to a statement released by the Ministry’s press office, the latest tests conducted on samples from the ship’s cargo confirmed ...

Oil Prices fall Even as Israel-Iran Strikes Extend into Fourth Day

This is Beirut 16/06 12:20 - Reading : 4 minute(s)

Israel Middle East Oil Gold Price

Oil prices retreated on Monday as fears of a wider Middle East conflict eased even as Israel and Iran pounded each other with missiles for a fourth day and threatened further attacks. Gold prices rose back towards a record high thanks to a rush into safe havens but equities were mixed amid hopes that the conflict does not spread. Investors were ...

Strait of Hormuz: Is Iran Ready to Gamble with Global Energy Stability?

Liliane Mokbel 15/06 14:40 - Reading : 2 minute(s)

Gulf Israel Strait of Hormuz Iran economy energy

As the Middle East flares up amid mounting tensions between Iran and Israel, one urgent question dominates global attention: Is Tehran ready to close the Strait of Hormuz, a crucial lifeline for the world’s energy supply? On Friday night, Emmanuel Macron sounded a stark warning. In a statement, the French president cautioned, “We must brace ...

SpotlightDrought: When the Sky Turns Its Back on the Earth

Christiane Tager 14/06 15:30 - Reading : 3 minute(s)

Lebanon agriculture Economy

Beirut recorded less than 350 mm of rainfall between November and March—well below the annual average of 800 mm—making the winter of 2024-2025 one of the driest in the last 20 years, according to official data. In the Beqaa, a vital agricultural hub, precipitation fell by over 45% compared to the seasonal average. This severe drop disrupted ...

Figure of the weekLBP 44.2 Million for a Basic Food Basket

Liliane Mokbel 14/06 12:00 - Reading : less than a minute

Economy Lebanon World Food Program

According to the World Food Program, the survival food basket has reached LBP 44.2 million, or around $492, an increase of $42 since January. That's how much it now costs for a family of five to cover its basic food needs for a month in Lebanon. This basket, which includes rice, wheat, pulses, oil, sugar, salt and sardines, represents the bare ...