Liliane Mokbel 14/04 22:08 - Reading : 2 minute(s)
To counter an unprecedented wave of strikes launched from Iran, late on Saturday evening, lasting a total of five hours, Israel reportedly shelled out nearly $1.35 billion. Waging a war requires weapons and money. The numbers speak for themselves. Brigadier General Ram Aminach, former financial advisor to the Israeli Chief of Staff, as quoted by ...
This Is Beirut 12/04 22:01 - Reading : 2 minute(s)
In a statement released on Friday, the Central Bank of Lebanon sounded the alarm, calling on Parliament to act by approving reform laws to rescue the financial sector. The Central Bank of Lebanon (BDL) emphasized that the delay in enacting reform laws weakens the financial position of the Lebanese State, the Central Bank of Lebanon, and the ...
Liliane Mokbel 12/04 18:35 - Reading : 3 minute(s)
The fate of parties engaged in old commercial leases remains uncertain, despite the State Council’s decision on April 5, 2023, to suspend Decree-Law No. 12835 concerning the government's referral of the commercial lease law to Parliament. Until the Council of State adjudicates on the substance of Decree-Law No. 12835 concerning old commercial ...
Nicolas Sbeih 11/04 17:52 - Reading : 4 minute(s)
Houses continue to crumble, people are succumbing beneath the rubble, and the olive fields, a lifelong toil, are turning to ash. No one cares, except the Minister of Economy who reduced it all to abstract figures: damages, he claims, are estimated between 7 and 10 billion dollars. But the minister who aims to be the Great Vizier, did not dare see ...
Christiane Tager 10/04 20:32 - Reading : 3 minute(s)
Since the beginning of the year, the price of gold has been skyrocketing, driven by expectations of a decline in interest rates by the US Federal Reserve, which boosts the yellow metal, alongside substantial purchases by China. On Wednesday, gold was trading at $2,354.22 per ounce, marking a surge of about 15% in just one year. Gold remains a safe ...
Christiane Tager 09/04 14:00 - Reading : 3 minute(s)
Millions of practicing Muslims have observed fasting throughout the concluding days of Ramadan. Beyond its sacred significance, Ramadan heralds a surge in consumption, presenting a lucrative opportunity for businesses in the food and hospitality sectors, especially in Lebanon, where the economic situation is far from stable. While Ramadan is a ...
Maurice Matta 08/04 16:28 - Reading : 5 minute(s)
The European Union's stance is in line with that of the International Monetary Fund (IMF) regarding recent indications and developments in Lebanon, including the passage of the 2024 budget within constitutional deadlines, reforms to banking secrecy laws and stabilization of the exchange rate in the parallel market. These developments signal that ...
Maurice Matta 07/04 12:00 - Reading : 6 minute(s)
Today, April 7, marks the second anniversary of the agreement signed between the Lebanese government and the International Monetary Fund (IMF) delegation at the Presidential Palace in the presence of former President Michel Aoun. The signing took place under his auspices, as he exercised his constitutional prerogative. As president, he is ...
Christiane Tager 06/04 15:16 - Reading : 2 minute(s)
The money supply experienced phenomenal growth in Lebanon within one month, increasing by 439% between December 2023 and January 2024. What are the reasons for this, and what does it signify? A recently published report revealed that Lebanon has experienced a significant increase in the circulating money supply, which multiplied by more than five ...
This Is Beirut 06/04 14:59 - Reading : 1 minute(s)
The Caretaker Minister of Economy, Amin Salam, set off for Washington on Saturday to participate in the annual spring meetings of the World Bank (WB) at its headquarters. Salam's itinerary includes a series of meetings with key figures in the US administration, spanning across various departments such as the Departments of State, Treasury, ...
This Is Beirut 05/04 20:53 - Reading : 1 minute(s)
The PMI (Purchasing Managers Index), published by BlomInvest, reached 49.4 points in March compared to 49.1 the previous month. This slight improvement demonstrates a certain flexibility in the local market. Commenting on this figure, BLOM Invest analyst Stephanie Aoun indicated that the PMI recorded a slight increase, primarily due to the ...
This Is Beirut 05/04 15:37 - Reading : less than a minute
Caretaker Minister of Finance Youssef el-Khalil issued a decision on Friday clarifying the tax treatment of interest paid by taxpayers. Accordingly, income taxpayers who pay interest must declare this interest quarterly and pay the tax due within 15 days of the end of each quarter, after deducting tax at the rate of 17% on 50% of this ...