This is Beirut 04/04 15:55 - Reading : 5 minute(s)
Donald Trump United States Tariffs China economic war
China has hit back against US President Donald Trump's "liberation day" tariffs, slapping 34 percent levies on all imports of American goods. AFP looks at how an escalating trade war between the United States and China is playing out—and what impact it might have. Why is China so vulnerable to tariffs? Trade between the world's two largest ...
Liliane Mokbel 04/04 15:40 - Reading : 2 minute(s)
Banks Central Bank of Lebanon Karim Souhaid Governor Depositors
The new governor highlighted several priorities: strengthening BDL’s governance, ensuring the return of deposits, restructuring the banking sector, and remaining open to all proposals aimed at resolving the banking system crisis. “Deposits are guaranteed, and their repayment must be managed through shared responsibility between the banks, BDL ...
This is Beirut 04/04 14:15 - Reading : 1 minute(s)
Donald Trump USA China Tariffs economic war
China said on Friday it would slap 34 percent tariffs on all imports of US goods from April 10 after Washington imposed steep new levies on Chinese products. "For all imported goods originating from the US, an additional tariff of 34 percent on top of the current applicable tariff rate will be imposed," Beijing's finance ministry said. Beijing's ...
This is Beirut 04/04 10:25 - Reading : less than a minute
Europe Donald Trump Banks Covid-19 European Union
European equities opened in the red on Friday, extending losses after US President Donald Trump's tariff offensive sparked a global stock market rout. Paris shed 0.9 percent to 7,533.26 points, Frankfurt fell 0.7 percent to 21,566.33 and London also dropped 0.7 percent to 8,416.32. Trump's harsher-than-expected "Liberation Day" levies sent ...
Christiane Tager 04/04 09:30 - Reading : 5 minute(s)
Donald Trump European Union Banks Europe Turkey
President Donald Trump's recent decision to impose historic tariffs on 185 countries and territories, announced on Thursday, has reverberated across the global economy. The repercussions of these tariffs will be felt worldwide, with Arab countries being especially impacted. Among the hardest-hit nations are Syria, Iraq, Libya, Algeria and Tunisia, ...
Maurice Matta 03/04 22:30 - Reading : 3 minute(s)
Lebanon Nawaf Salam The Landlords’ Syndicate The Tenants’ Committee The Teachers’ Syndicate
Prime Minister Nawaf Salam requested the publication of three laws in the Official Gazette. Former Prime Minister Najib Mikati had previously demanded that these laws be sent back to Parliament for reconsideration. One law is related to the teaching staff in private schools and the regulation of the school budget. The second law is about granting ...
Liliane Mokbel 03/04 21:30 - Reading : 2 minute(s)
The new law on commercial leases has been published on Thursday in the first edition of the Official Gazette following the Eid al-Fitr holiday. This sets a precedent in Lebanon’s legislative history, as no law has ever been published in the Official Gazette a year after its promulgation. Prime Minister Nawaf Salam stated that its publication is ...
This is Beirut 03/04 18:30 - Reading : less than a minute
Joe Saddi Directorate General of Urban Planning Energy Ministry Solar Panels
In a bid to simplify the administrative procedures for installing solar panels for personal electricity use of up to 1.5 megawatts, Lebanese Energy and Water Minister Joe Saddi announced that prior approval from his Ministry is no longer required. This change, based on Law 462/2002, allows citizens to install solar panels without needing ...
This is Beirut 03/04 18:25 - Reading : 2 minute(s)
Oil prices plunged on Thursday after the announcement of U.S. protectionist measures by President Donald Trump, triggering fears over the potential impact on global economic growth and oil demand. Adding to the downward pressure, OPEC revealed a larger-than-expected increase in production. By 12:05 GMT (14:05 Paris time), Brent crude for June ...
This is Beirut 03/04 17:10 - Reading : 1 minute(s)
Donald Trump United States China Tariffs
Global ratings agency Fitch downgraded China's long-term foreign-currency issuer default rating from 'A+' to 'A' on Thursday, noting weakening finances and debt concerns. "The downgrade reflects our expectations of a continued weakening of China's public finances and a rapidly rising public debt trajectory during the country's economic ...
This is Beirut 03/04 15:50 - Reading : 3 minute(s)
Donald Trump European Union Europe New York United States
The dollar and equity markets tumbled Thursday after President Donald Trump's latest tariffs salvo against countries worldwide, fanning a trade war that many fear will spark recession and ramp up inflation. The dollar slumped by as much as 2.6 percent versus the euro, its biggest intraday plunge in a decade, and suffered sharp losses also against ...
This is Beirut 03/04 14:40 - Reading : less than a minute
Yassine Jaber Finance Minister Housing Loan Lebanon
Finance Minister Yassine Jaber and General Manager of the Banque de l'Habitat (BDH) Antoine Habib signed a memorandum of understanding on Thursday, launching an electronic link between the two organizations. This new system allows the bank to instantly and at no cost access an online certificate of non-ownership for borrowers, streamlining the ...