Economy

Lebanon Ranks 124th Globally in 2024 Environmental Performance Index

This is Beirut 07/05 17:10 - Reading : 1 minute(s)

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Lebanon ranked 124th out of 180 countries in the 2024 Environmental Performance Index (EPI), published by Yale and Columbia Universities in collaboration with the World Economic Forum. With a score of 40.1 out of 100, Lebanon also placed 10th among Arab nations, falling below both regional and global averages. The EPI assesses countries based on ...

Outdoor Advertising: How Political Propaganda Fuels the Advertising Market

Liliane Mokbel 07/05 16:30 - Reading : 3 minute(s)

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In Lebanon, the current legal framework does not prohibit the display of portraits of political or religious figures, nor does it draw a clear line between commercial advertising and political propaganda. This legal ambiguity has created a gray area that, according to industry insiders, is actively exploited. “Political propaganda is not just ...

Towards Revitalizing Lebanese Agricultural Exports: Regional Markets Open Up Again

This is Beirut 07/05 16:20 - Reading : 1 minute(s)

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Minister of Agriculture Nizar Hani announced a significant step forward in opening up regional markets to Lebanese agricultural products. In a statement to the MTV television channel, he revealed that a large portion of foreign markets are now accessible, and that from May 10, the Jordanian market will once again welcome Lebanese citrus fruits, ...

Labor Minister Announces Minimum Wage Hike for Private Sector Workers

This is Beirut 07/05 16:15 - Reading : 1 minute(s)

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Minister of Labor Mohammad Haidar announced on Wednesday an immediate increase in the minimum wage for private sector employees, raising it to LBP 28 million, approximately $320 at the prevailing unofficial exchange rate. The increase, which represents more than a 50% hike, is the first step in a broader wage correction plan as Lebanon continues ...

Lebanon and Iraq Deepen Energy Ties with Renewed Oil Agreement

This is Beirut 06/05 18:27 - Reading : 1 minute(s)

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Lebanon and Iraq have renewed a key energy deal through which Baghdad will supply Beirut with two million tons of crude oil, now under new payment terms that reflect shifting regional dynamics. In a notable departure from past arrangements, Lebanon has agreed to settle its dues in US dollars via direct transfers from the Banque du Liban, ending ...

Air Links with UAE 'Officially' Re-Established with Landmark Flights to Beirut

This is Beirut 06/05 17:30 - Reading : less than a minute

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Three Emirati planes will land on Wednesday at Beirut International Airport, marking the official resumption of air links between the United Arab Emirates and Lebanon, following the lifting of the travel ban on Emirati citizens. This decision, announced by President Mohammed bin Zayed Al Nahyan, will take effect on May 7, following Lebanese ...

A Complicated Fuel Deal

Christiane Tager 05/05 21:45 - Reading : 2 minute(s)

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It appears that the fuel partnership with Iraq is under strain – or even under high tension. Since July 2021, Iraq has been Lebanon’s main fuel supplier thanks to a $700 million contract, renewed in 2023, bringing the total to $1.4 billion. In return, Lebanon had committed to delivering Lebanese goods and services, particularly in the medical ...

'Bombshell' OPEC+ Output Hike Hits Oil Price

This is Beirut 05/05 14:34 - Reading : 2 minute(s)

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Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water in thin trade with major markets closed. The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply. The ...

Lebanon Tops Arab Region in Reliance on Private Generators

This is Beirut 05/05 13:15 - Reading : 1 minute(s)

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In Lebanon, electricity has become synonymous with the rumble of private generators. According to recent regional media reports, the country ranks first in the Arab world for dependence on private generators, with a staggering 90% of the population relying on them for power. This widespread use highlights the depth of Lebanon’s chronic ...

NSSF Disburses Nearly LBP 1,500 Billion in Healthcare Payments

This is Beirut 05/05 12:55 - Reading : 1 minute(s)

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The National Social Security Fund (NSSF) announced that it has disbursed nearly LBP 1,496 billion to hospitals, physicians and insured individuals since the beginning of 2025, according to a press release issued by its Public Relations Department. Breaking down the figures, the NSSF detailed that LBP 710 billion was allocated for fixed-fee ...

Saudi Arabia Announces Major Gold Discovery

This is Beirut 05/05 10:45 - Reading : 1 minute(s)

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As gold prices surge to historic highs, surpassing $2,300 an ounce amid mounting geopolitical tensions and economic uncertainty, Saudi Arabia announced a major gold discovery that could further cement its position in the global mining sector. Saudi Arabia’s state-owned mining company Ma’aden revealed the discovery of significant gold deposits ...

Jordan to Allow Import of Lebanese Lemons Starting May 10

This is Beirut 05/05 09:20 - Reading : less than a minute

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In a development welcomed by Lebanese farmers, Jordan will officially begin allowing imports of Lebanese lemons–all varieties included–starting May 10, 2025. The Jordanian Ministry of Agriculture announced on Sunday that it had granted import licenses for Lebanese lemons. Applications for these licenses opened on Saturday, May 3, and will be ...