Christiane Tager 18/06 20:55 - Reading : 3 minute(s)
With regional tensions mounting, Lebanon’s economy teeters between stagnation and potential collapse. Nassib Ghobril, Chief Economist at Byblos Bank, tells This is Beirut that the conflict’s primary consequence is widespread instability, discouraging investment, slowing trade, and deterring tourism. The looming threat of war—particularly ...
This is Beirut 18/06 20:45 - Reading : 2 minute(s)
Qlayaat Airport Lebanon Infrastructure Investment Development
Prime Minister Nawaf Salam and Public Works and Transport Minister Fayez Rasamny on Wednesday reviewed progress on the long-anticipated Qlayaat Airport rehabilitation and reactivation project, in the presence of representatives from Dar Al-Handasah – Shair and Partners, the consultancy firm behind the master plan, which was presented as part of ...
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 ...
This is Beirut 18/06 09:50 - Reading : 3 minute(s)
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 ...
This is Beirut 18/06 09:20 - Reading : 3 minute(s)
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 ...
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 ...
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 ...
This is Beirut 17/06 11:35 - Reading : less than a minute
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,” ...
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 ...
This is Beirut 16/06 12:30 - Reading : 2 minute(s)
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 ...
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 ...
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 ...