Liliane Mokbel 2024-11-30 15:05 - Reading : 3 minute(s)
Lebanon’s Central Bank (BDL) is easing the pressure to appease the foreign exchange market, amid a “neither war nor peace” climate that only heightens its volatility. The decision by the BDL’s Central Council, dated November 26, 2024, reflects clear intent to implement a “flexible monetary policy” even though this approach might ...
Liliane Mokbel 2024-11-30 12:00 - Reading : less than a minute
According to Elie Kazzi, the President of the Syndicate of Used Car Importers, losses due to damage to imported vehicles during the war between Israel and Hezbollah are estimated at around $60 million. The sector remains particularly vulnerable, as many Lebanese are reluctant to buy used cars during periods of instability, especially since they ...
Christiane Tager 2024-11-30 09:30 - Reading : 2 minute(s)
Black Friday, held annually the day after Thanksgiving—an American holiday celebrated on the fourth Thursday of November—marks the start of the Christmas shopping season. This event is characterized by significant discounts offered by both physical stores and online retailers. In Lebanon, some businesses began their promotions last Friday and ...
Maurice Matta 2024-11-30 09:00 - Reading : 5 minute(s)
On October 25, Lebanon was officially placed on the gray list of the Financial Action Task Force (FATF), subjecting the country to enhanced monitoring. The FATF report highlighted ongoing vulnerabilities in Lebanon’s efforts to strengthen measures against money laundering and terrorism financing. A key point in the report was FATF’s ...
This is Beirut 2024-11-29 13:15 - Reading : 3 minute(s)
Banks Donald Trump Europe USA Japan
The yen rallied Friday after forecast-busting inflation data out of Tokyo boosted talk of another Japanese interest rate cut next month, while equity markets were mixed as traders weigh the economic outlook during a second Trump administration. With Wall Street closed for the Thanksgiving break, there were few catalysts to drive business heading ...
This is Beirut 2024-11-28 20:55 - Reading : less than a minute
On Thursday, the Ministry of Finance announced that, after completing the transfer procedures for retirees' pensions and salaries for all military personnel, members of these groups will be able to withdraw their salaries from their private banks starting tomorrow, Friday, November 29. As for the salaries of other public employees, transfers will ...
This is Beirut 2024-11-28 16:55 - Reading : less than a minute
The crypto boom has driven the price of #Bitcoin, the world’s leading cryptocurrency, to a record high, sparking discussions about its potential in countries like Lebanon. Here’s what you need to know about #cryptocurrency trading and investment in Lebanon. Full report via link in bio.
This is Beirut 2024-11-28 16:25 - Reading : 2 minute(s)
Banque du Liban Lebanese Banks
According to the consolidated balance sheet of Lebanese commercial banks, total assets contracted by 8.06% year-on-year (YoY), dropping to $104.56 billion in August 2024. This decline followed Banque du Liban’s (BDL) adoption of a new official exchange rate of LBP 89,500 per USD, effective January 31, 2024. Currency and deposits with BDL ...
This is Beirut 2024-11-28 13:35 - Reading : less than a minute
The national carrier Middle East Airlines (MEA) will resume all flights as normal from December 12. The airline also began operating additional flights on Thursday to meet demand, which has increased considerably. Sources at MEA confirmed that, since the announcement of the ceasefire, more than 6,000 requests have been received via the website, ...
Liliane Mokbel 2024-11-27 16:00 - Reading : 3 minute(s)
Central Bank of Lebanon Hezbollah Israel Insurances Reinsurers
Reinsurers are hesitant to renew reinsurance contracts with Lebanese insurance companies — an expected approach in view of the conflict sparked by Hezbollah’s front against Israel. As the year-end approaches, most annual reinsurance agreements for the 40 insurance companies operating in Lebanon are set to expire. Negotiations have been ...
This is Beirut 2024-11-27 15:55 - Reading : 1 minute(s)
The President of the Association of Travel and Tourist Agents in Lebanon, Jean Abboud, has revealed that even though the ceasefire is now in force, Arab and foreign airlines will not be able to resume direct service to Beirut International Airport. He told This is Beirut that Lebanon had “not yet received any information or feedback from ...
This is Beirut 2024-11-27 11:20 - Reading : 1 minute(s)
Hezbollah Ali Hamieh Masnaa Lebanon
Caretaker Minister of Public Works and Transport Ali Hamiye posted on his X account that contractors affiliated to his ministry had initiated work to restore and reopen the Masnaa crossing, a key border point between Lebanon and Syria. Masnaa serves as a vital conduit for the transit of people and goods between the two countries, playing a ...