Economy

Al-Hassan: Beirut International Airport Will Not Close
Al-Hassan: Beirut International Airport Will Not Close

The Director General of Civil Aviation, Engineer Fadi Al-Hassan, assured that Beirut International Airport (BIA) is in no danger of closing due to employee protests. In an interview with the television channel MTV, he said, "meetings are ongoing to increase the remuneration of night work hours for technical employees of the airport's general ...

Ogero on Strike Again
Ogero on Strike Again

From Friday, April 19 to Thursday, April 25, the Ogero Employees’ Union will observe a new strike in support of the demands of the Federation of Independent Services and Public Establishments Unions. All centers and offices will be closed, and maintenance and repair work suspended. It should be noted in this context that the Ogero strike, in ...

BDL Promotes Financial Inclusion
BDL Promotes Financial Inclusion

The Central Bank of Lebanon (BDL) is seeking to encourage financial inclusion once again in order to reduce the cash economy in the Lebanese market, which is contrary to international anti-money laundering standards. In a statement issued on Thursday, the Central Bank of Lebanon (BDL) said it had worked with international issuers and managers of ...

Salam from Washington: The War Cost Lebanon 10 Billion Dollars
Salam from Washington: The War Cost Lebanon 10 Billion Dollars

Caretaker Minister of Economy, Amin Salam revealed that Lebanon’s economic losses due to the war in southern Lebanon have reached 10 billion dollars, including 2.5 to 3 billion dollars in losses in the agricultural sector. “The war currently taking place in Gaza and southern Lebanon is having a significant negative impact on the Lebanese ...

Finance: Tax Deadlines Extended
Finance: Tax Deadlines Extended

Caretaker Minister of Finance Youssef Khalil issued two decisions on Friday, extending payment deadlines for certain taxes. This gives taxpayers more time to pay and avoid late payment fines. The deadline for filing returns for the first quarter of 2024 on amounts taxable under Articles 41 and 42 of the Income Tax Act has been extended to April ...

Mansouri Discusses a New Proposal for Deposits' Categorization
Mansouri Discusses a New Proposal for Deposits' Categorization

The interim governor of the Central Bank of Lebanon (BDL), Wassim Mansouri, disclosed that the bank is studying a new proposal regarding the categorization of the depositors’ funds, which have been frozen since the onset of the 2019 rampant economic crisis. He estimated the banks' liabilities at nearly $88 billion. In an interview with Al-Sharq ...

Mount Lebanon Land Registry: From Total Closing to Partial Reopening
Mount Lebanon Land Registry: From Total Closing to Partial Reopening

Mount Lebanon’s land registry offices have been closed for a year and a half, resulting in over 50,000 pending paperwork. On January 22nd, at the request of the caretaker Minister of Finance, Youssef Khalil, activities partially resumed in these offices. This is Beirut provides an update. Mount Lebanon’s land registry offices have been closed ...

Finance Ministry: A Thousand Billion Pounds Disbursed to Social Security
Finance Ministry: A Thousand Billion Pounds Disbursed to Social Security

Caretaker Minister of Finance Youssef Khalil gave instructions on Wednesday to disburse one thousand billion Lebanese pounds as an advance on the fees allocated to the National Social Security Fund (CNSS), under the 2024 budget, which amount to three thousand billion Lebanese pounds. The Ministry will pay the remaining amount on a monthly ...

Kanaan From Washington: Neither Confidence Nor Recovery Without Parliamentary Oversight
Kanaan From Washington: Neither Confidence Nor Recovery Without Parliamentary Oversight

The Chairman of the Finance and Budget Committee, MP Ibrahim Kanaan, was in Washington DC at the invitation of the International Monetary Fund (IMF) and the World Bank (WB), where he is taking part in the Spring Meetings, held until April 20. The sessions he attended focused on the importance of responsibility in developing, progressing and ...

Water Offices to Pay EDL $50 Million
Water Offices to Pay EDL $50 Million

The payment of electricity bills to Lebanon's Water Offices was the focus of a meeting between the caretaker Minister of Energy and Water, Walid Fayad, the chairman of Electricity of Lebanon (EDL), Kamal Hayek, the general managers of the Water Offices and the director of the Treasury at the Ministry of Finance. A collection campaign led by EDL, ...

Kanaan at the World Bank Spring Meetings
Kanaan at the World Bank Spring Meetings

The Chairman of the parliamentary Finance and Budget Committee, MP Ibrahim Kanaan, traveled to Washington DC at the invitation of the International Monetary Fund (IMF) and the World Bank (WB) to participate in the Spring Meetings. During these meetings, which will take place from April 15 to 20, he will hold talks with those involved in the ...

Finance: Public Sector Increases Disbursed
Finance: Public Sector Increases Disbursed

The Ministry of Finance confirmed in a statement on Monday that it had transferred to Lebanon’s Central Bank (BDL) the differences in civil servants' salaries (the retroactive effect) for last February, in line with the salary increases approved by the government last month. Those concerned will be able to withdraw the amounts from their banks ...