Economy

Gold tops $3,000 for first time on Trump tariff threats

This is Beirut 14/03 14:30 - Reading : 3 minute(s)

Donald Trump European Union Democrats Republicans United Kingdom

Safe-haven gold surpassed $3,000 for the first time Friday, boosted by uncertainty over US President Donald Trump's tariffs, while stock markets gained on hopes US lawmakers will avert a government shutdown. "Markets hate uncertainty, and Trump's second tenure in the White House has served to provide huge instability over expectations for trade, ...

SpotlightKulluna Irada's Strategy: Writing Off Deposits and the Bankruptcy of Banks

This is Beirut 14/03 08:30 - Reading : 4 minute(s)

Lebanon Economy Banks BDL

Demands for accountability from Kulluna Irada have intensified over its actions in recent years, particularly since the 2019 financial crisis. This includes the decision by former Prime Minister Hassane Diab's government to declare Lebanon bankrupt, its failure to repay debts, and its role in destabilizing the country's monetary and financial ...

SpotlightIMF Mission Concludes Meetings in Beirut

Maurice Matta 13/03 22:40 - Reading : 3 minute(s)

International Monetary Fund Banks Joseph Aoun Banque du Liban Washington

Finance Minister Yassine Jaber made reassuring remarks regarding negotiations with the International Monetary Fund (IMF) following an extensive meeting held at the Ministry of Finance with the IMF mission. During the meeting, Jaber affirmed that the elimination or partial deduction of bank deposits is a sovereign and national decision, ...

Qatar Supplying Natural Gas to Syria via Jordan

This is Beirut 13/03 21:22 - Reading : 3 minute(s)

Qatar Syria Jordan Gas

Qatar has begun funding gas supplies to Syria from Jordan, state media in the Gulf state reported Thursday, as Damascus's new leadership seeks economic relief for the war-torn country. "Qatar has started today providing... natural gas supplies to the Syrian Arab Republic through the territories of the Hashemite Kingdom of Jordan," ...

Engines Revving: A Cautious Rebound for Auto Loans in Lebanon

Christiane Tager 13/03 21:10 - Reading : 2 minute(s)

Lebanon Dollars Loans

After years of economic hardship, Lebanese citizens are finally beginning to see the possibility of replacing their vehicle or purchasing one for the first time. Auto loans, previously halted due to the devaluation of the Lebanese pound, banking restrictions and the financial crisis, are now being offered again, though in a very limited capacity ...

Trump Threatens 200% Tariff on Wine, Champagne from France, other EU countries

This is Beirut 13/03 15:00 - Reading : 2 minute(s)

Donald Trump European Union United States France Tariffs

US President Donald Trump on Thursday threatened to impose 200-percent tariffs on wine, champagne and other alcoholic products from France and other European Union countries in retaliation against the bloc's planned levies on US-produced whiskey. "If this tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all wines, ...

Trade War Threatens Oil Demand Growth

This is Beirut 13/03 14:00 - Reading : 1 minute(s)

Donald Trump USA IEA

Global oil demand growth is set to accelerate this year but the escalating trade war launched by US President Donald Trump threatens to disrupt the market, the International Energy Agency said Thursday. The IEA noted that crude prices dropped in February and early March as concerns grew about the impact of trade tensions on the global economy and ...

Behind the ScenesKulluna Irada: A Law-Breaking Association – Should Its License Be Revoked?

This is Beirut 13/03 09:25 - Reading : 3 minute(s)

Lebanon Economy Banks

Kulluna Irada is an organization that claims to uphold the law, pursue corrupt individuals, and fight corruption in the name of good governance and reform. However, in practice, the activities of Kulluna Irada violate both the law and the objectives for which the organization was granted official recognition by the Ministry of Interior and ...

ExplainerOfficial Start of Negotiations with IMF, Jaber Confirms: No Write-Off of Deposits

This is Beirut 12/03 20:30 - Reading : 5 minute(s)

Economy IMF Lebanon BDL

Lebanese authorities announced the resumption of negotiations with the International Monetary Fund (IMF) to reach a final agreement that would grant the country loans while advancing its reform agenda. Talks between the Lebanese government and the IMF began on Wednesday, aiming for a staff-level agreement as a step toward broader negotiations to ...

Stocks advance on US inflation slowing, Ukraine ceasefire plan

This is Beirut 12/03 19:35 - Reading : 4 minute(s)

Ukraine USA Donald Trump European Union Banks

Stock markets mostly rose on Wednesday on both sides of the Atlantic as investors shrugged off the latest US tariff moves to focus on cooling US inflation and a Ukraine ceasefire plan. Global markets have endured severe swings this month as US President Donald Trump looks to ramp up pressure on global partners by imposing or threatening ...

BDH: $100,000 to Support Aspiring Lebanese Homeowners

Christiane Tager 12/03 09:30 - Reading : 2 minute(s)

Banks

The Housing Bank (BDH) is set to dramatically increase its loans, raising the amount from $50,000 to $100,000 with support from the Qatari Development Fund. BDH President Antoine Habib confirmed to This is Beirut that “the bank will soon offer $100,000 housing loans to low and middle-income individuals, as well as those with special needs, with ...

Trump Doubles Down on Canada Trade War

This is Beirut 11/03 17:25 - Reading : 3 minute(s)

Donald Trump Republicans United Arab Emirates United States USA

US President Donald Trump announced massive new tariffs on Canadian steel and aluminum Tuesday, while threatening to "shut down" its auto industry and saying the best way to end the trade war was for Washington's ally to be absorbed into the United States. Trump's shock new threats came hours before a midnight deadline for ramping up the ...