Economy

Figure of the weekLBP 44.2 Million for a Basic Food Basket

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

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 ...

Oil Surges, Stocks Fall Over Middle East Fears as Israel Strikes Iran

This is Beirut 13/06 11:35 - Reading : 2 minute(s)

Nawaf Salam Middle East Donald Trump Benjamin Netanyahu

Oil prices soared and stocks sank Friday after Israel launched strikes on Iranian nuclear and military sites and warned of more to come, stoking fears of a full-blown war. Investors ran for the hills on news of the attacks and a warning from Tehran that its regional foe faced a "bitter and painful" fate, while US President Donald Trump has said a ...

Syria: The New Battleground for Influence and Investment

Liliane Mokbel 12/06 12:00 - Reading : 3 minute(s)

Lebanon European Union Saudi Arabia Syria economy reconstruction Qatar

The international community appears determined to reintegrate Syria both economically and politically after decades of isolation. This momentum stands in stark contrast to neighboring Lebanon, which fears that Syria’s reconstruction will monopolize international attention, pushing its own geopolitical and economic challenges into the ...

Lebanon’s Public Debt Exceeds $100 Billion

This is Beirut 11/06 15:40 - Reading : less than a minute

Lebanon debt economy

According to official statistics and reports from several local banks, Lebanon's public debt has exceeded the $100 billion mark. This historic level reflects years of accumulated budget deficits, inefficient public management, poor financial governance and a lack of structural reforms. This debt includes both domestic and external debt incurred ...

Nvidia Marks Paris Tech Fair with Europe AI Push

This is Beirut 11/06 14:50 - Reading : 3 minute(s)

Europe USA Nvidia

Drawing high-powered tech CEOs and a presidential visit, the Vivatech trade fair opened in Paris on Wednesday with a bang as Nvidia boss Jensen Huang announced a major push into Europe. “In just two years, we will increase the amount of AI computing capacity in Europe by a factor of 10,” Huang told a packed hall in a southern Paris convention ...

Op-edLebanon Meets the IMF: An Exercise in Masochism

This is Beirut 11/06 11:40 - Reading : 4 minute(s)

Lebanon IMF Economy Reform

The latest round of kabuki theater between Lebanon’s government and the IMF has produced what all such high-level summits inevitably do: a mixture of forced smiles, indecipherable jargon, and the vague scent of scorched-earth diplomacy. It also revealed something everyone in the room knew but no one had the courage—or funding—to fix: Lebanon ...

Nintendo’s Switch 2 Becomes Fastest-Selling Console in History

This is Beirut 11/06 09:25 - Reading : 3 minute(s)

Nintendo Japan Gaming Switch 2

The Switch 2 has smashed records to become the fastest-selling console ever after gamers snapped up 3.5 million units in its first four days, Nintendo said Wednesday. Featuring a bigger screen and more processing power, the console is an upgrade to the original Switch – the third best-selling console of all time. It was released last Thursday ...

Adha in Lebanon: Full Hotels, Bustling Streets and a Resilient Spirit

Christiane Tager 11/06 09:00 - Reading : 2 minute(s)

Beirut International Airport

Many expected the bombings to deter visitors. But in true Lebanese fashion, the country delivered a weekend of Eid al-Adha that rivaled its best tourism seasons. The numbers speak for themselves: nearly 300,000 travelers passed through Beirut Airport in May, which is the highest monthly total since 2019. The atmosphere was festive, the coast ...

EU Adds Lebanon to High-Risk Money Laundering Watchlist

This is Beirut 10/06 21:35 - Reading : less than a minute

Lebanon European Union Money Laundering UAE

In an official announcement on Tuesday, the European Commission stated that it had added Lebanon, Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Monaco, Namibia, Nepal and Venezuela to the list of jurisdictions that require enhanced monitoring of their anti-money laundering efforts. At the same time, the Commission removed the United Arab ...

Huawei Founder says Chips Still Lag 'One Generation' Behind US

This is Beirut 10/06 11:55 - Reading : 2 minute(s)

United States USA Washington Huawei

Chinese tech giant Huawei's chips still "lag behind the United States by one generation", state media quoted its founder and CEO Ren Zhengfei as saying in a rare interview on Tuesday. Washington last month unveiled fresh guidelines warning firms that using Chinese-made high-tech AI semiconductors, specifically Huawei's Ascend chips, would put ...

US and China Begin Key Trade Talks in London

This is Beirut 09/06 18:45 - Reading : 4 minute(s)

United States China Tariffs

China and the United States began a new round of trade talks in London on Monday, Beijing's state media reported, as the world's two biggest economies seek to shore up a shaky truce after bruising tit-for-tat tariffs. The two sides are meeting in the historic Lancaster House, run by the UK Foreign Office, following a first round of talks ...

Global Cybercrime Losses Hit $9.5 Trillion in 2024

This is Beirut 09/06 15:15 - Reading : less than a minute

Artificial Intelligence Cost of Data Breaches SoSafe

The global cost of cyberattacks soared to an estimated $9.5 trillion in 2024, underscoring an alarming rise in digital threats facing businesses, governments and critical infrastructure, according to a new report by cybersecurity firm BD Emerson. IBM’s annual Cost of Data Breaches report revealed that the average data breach cost surged to ...