Economy

Global Trade War... Trump's Tariffs Upsetting the World

Maurice Matta 06/03 11:00 - Reading : 7 minute(s)

Donald Trump United States Canada Mexico Tariffs Trade

In his longest-ever speech before Congress, US President Donald Trump addressed several domestic and foreign issues, calling for the beginning of the “America’s Golden Age” and the strengthening of its sovereignty and independence. He emphasized that the United States “will remain free and independent.” As he delivered his speech, Trump ...

BDL’s Gold: An Untouchable Treasure or a Last Resort?

Liliane Mokbel 05/03 19:10 - Reading : 3 minute(s)

Banks Central Bank of Lebanon Gold Reserves Lebanon

Following the government’s policy statement and the president’s inaugural speech, it is clear that a new momentum is emerging to address the pending economic issues. Controversial proposals are emerging, notably the idea of using Lebanon's Central Bank gold reserves (BDL) to partially bridge the financial deficit. However, it is evident that ...

Brent Oil Falls to Lowest Price Since 2021 as US Crude Stocks Surge

This is Beirut 05/03 19:05 - Reading : less than a minute

USA

The price of the major international oil contract, Brent crude, fell to its lowest level since 2021 following data showing that US crude stocks surged. Around 1610 GMT the price of Brent crude was down 3.36 percent to $68.65, shortly after the release of data showing a higher-than-expected increase of 3.6 million barrels in US crude stocks last ...

Stocks Rally on Hopes of Chinese Stimulus and Tariff Relief

This is Beirut 05/03 13:05 - Reading : 4 minute(s)

Paris Donald Trump dollar budget Canada

Markets rallied on Wednesday as investors welcomed China's economic targets and a U.S. official signaled that President Donald Trump could dial down tariffs on Canada and Mexico. Global stocks had tumbled on Tuesday after China, Mexico, and Canada retaliated against U.S. tariffs, and fears grew that Europe could be Trump's next target. There was ...

SpotlightGlobal Markets Shaken by Trump’s Tariff Policies

Christiane Tager 05/03 12:00 - Reading : 2 minute(s)

Economy World China USA

Shortly after assuming office, US President Donald Trump announced in February the imposition of a 25% tariff on imports from Mexico and Canada, along with an additional 10% tariff on Chinese goods, bringing the total to 20%. He criticized Beijing, Ottawa and Mexico for not doing enough to “combat the flow of fentanyl (a potent opioid) into the ...

SpotlightCombating Paramilitary Financing: Key to Keeping Lebanon Off the Gray List

Bassam Abou Zeid 05/03 11:25 - Reading : 2 minute(s)

Lebanon Central Bank Economy Hezbollah

Lebanon's inclusion on the Financial Action Task Force (FATF) gray list can largely be attributed to the lack of cooperation from Lebanese authorities in combating the financing of paramilitary groups, particularly Hezbollah, as well as other organizations like Hamas and the Islamic Jihad Movement. The failure to address this issue was largely ...

Brent Crude Oil Contract Falls Below $70 on OPEC+ Plans to Hike Output

This is Beirut 04/03 18:55 - Reading : 1 minute(s)

Donald Trump Saudi Arabia USA

The main international oil contract, Brent crude, fell to below $70 on Tuesday, a day after OPEC+ confirmed plans to hike oil output from April, amid pressure from US president Donald Trump to lower prices. Brent crude slumped 2.4 percent in afternoon trading to $69.94, its lowest level since September. The main US contract, West Texas ...

Alfa: Four Stations Back in Service

This is Beirut 04/03 17:20 - Reading : 1 minute(s)

Hezbollah Israel Alfa Lebanon

Cell phone operator Alfa announced on Tuesday that it was restoring four stations in the southern border region of Lebanon that were damaged during the war between Hezbollah and Israel. The stations are as follows: The Khiam station covers the regions of Khiam, al-Mari and Helta, as well as the areas of Wazzani, Bourj al-Moulouk, Qlayaa and ...

Saudi Aramco Profits Drop 12%

This is Beirut 04/03 13:05 - Reading : 3 minute(s)

Donald Trump Gulf Middle East Saudi Arabia Ukraine

Oil giant Saudi Aramco posted a drop in annual profits on Tuesday as lower prices and volumes hit the linchpin of the Kingdom's ambitious economic reform plans. The world's biggest crude exporter said profits were down more than 12% to $106.25 billion in 2024, the second annual drop following a surge in oil prices in 2022. Expected dividends for ...

ExplainerThe Anticipated Return of Lebanese-Saudi Relations

Christiane Tager 04/03 10:30 - Reading : 4 minute(s)

Saudi Arabia Lebanon Economy

Trade relations between Lebanon and Saudi Arabia have long been prosperous, with Lebanese exports reaching over $800 million per year and Saudi imports totaling $1.3 billion. However, political tensions have severely affected these exchanges, reducing their volume by more than half and causing a considerable loss of revenue for Lebanon. Could the ...

Trump Says No Room for Canada and Mexico to Avert Tariffs, Hikes China evy

This is Beirut 03/03 23:28 - Reading : 4 minute(s)

United States Mexico Canada China

US President Donald Trump shut down hopes Monday of an eleventh hour deal with Canada and Mexico to avert sweeping tariffs, while signing an order to hike duties on China. Trump had unveiled -- and then paused -- blanket tariffs on imports from major trading partners Canada and Mexico in February, accusing them of failing to stop illegal ...

European Defense Stocks Soar as Govts Up Military Spend

This is Beirut 03/03 17:15 - Reading : 4 minute(s)

European Union Donald Trump Europe New York Ukraine

Share prices of European defense companies soared Monday as London and the European Union look to ramp up military spending in the face of uncertainty over the United States' commitment to Ukraine and NATO. BAE Systems surged 14 percent, helping London's benchmark FTSE 100 index to a record high, the latest in a series over ...