The Hezbollah-Israel War: A Blow to the Lebanese Economy

Johnny Ftouhi 2024-11-05 14:35 - Reading : 6 minute(s)

Central Bank of Lebanon Economic losses war cost

Lebanon is undergoing an unprecedented economic collapse, worsened by the recent war, which deepened the financial crisis that began in 2019 when the state declared bankruptcy, and banks, along with the Central Bank (BDL), faltered. The financial sector’s collapse triggered a widespread crisis, affecting every facet of economic and daily life. ...

Asian Markets Rise Ahead of US Election

This is Beirut 2024-11-05 11:50 - Reading : 3 minute(s)

USA Asia Markets

Asian markets mostly rose Tuesday, a day before results from the US presidential election rolled in, with opinion polls showing a knife-edge vote, while Chinese equities were boosted by hopes over the country's economy. Uncertainty about the outcome and worries that the winner might not be known for days has led to warnings that investors could ...

Fouad Zmokhol: SMEs Cannot Survive More Than a Few Months

This is Beirut 2024-11-04 19:25 - Reading : 2 minute(s)

Economy Lebanon SME's Private sector

The board of directors of the International Movement of Lebanese Business Leaders (Midel), chaired by Fouad Zmokhol, held an extraordinary meeting on Monday to discuss the survival of private-sector businesses during the ongoing war. Participants noted that “the majority of productive sectors have lost all resilience,” stressing that “the ...

Fifty Million Dollars in Used Car Damages

This is Beirut 2024-11-04 17:30 - Reading : less than a minute

As a result of Israeli bombardment, the total value of used cars damaged in Lebanon has reached $50 million, according to the president of the union of used car importers in Lebanon, Elie Azzi. Azzi specified that "documents quantifying these losses are being prepared and will be submitted to the Higher Relief Commission." Additionally, more ...

Why Are Lebanese People Buying Gold Amid War?

This is Beirut 2024-11-02 20:20 - Reading : less than a minute

Lebanon is witnessing a high demand for gold despite the ongoing war and economic crisis. Jewelry sellers and economic experts reveal the reasons behind this trend. 

Rage and Despair: Lebanon's Missed Opportunities

Christiane Tager 2024-11-01 20:00 - Reading : 3 minute(s)

war investments losses

Lebanon, a country with undeniable economic potential, has been experiencing a period marked by conflicts and socio-economic crises for several years. Beyond the human and material losses resulting from these events, it is essential to reflect on the missed opportunities that could have transformed the country's landscape and repositioned it on ...

Who Will Save the Restaurant Sector from the Cost of the 'Support Front'?

Antoine Saade 2024-11-01 16:15 - Reading : 2 minute(s)

Palestine

Since the southern Lebanese front was opened in support of Gaza in October 2023, the restaurant industry has experienced a dramatic decline. During lunchtime, restaurants are nearly empty in Downtown Beirut. Samir Yaacoub, a restaurant chain owner in Lebanon, told our sister company “Houna Loubnan” that business varies greatly from one area ...

Behind the ScenesNo Solution in Sight for Retired Teachers’ Wages

Maurice Matta 2024-11-01 11:00 - Reading : 3 minute(s)

Abbas Halabi teachers wages

For the second consecutive month, retired teachers in Lebanon have not received any increase in their salaries in Lebanese pounds, which has lost substantial value since the currency's collapse in 2019. Unlike other sectors, retired teachers have not received any salary adjustments, except for a few months under a protocol signed between the ...

Asian Markets Fall Ahead of US Elections

This is Beirut 2024-11-01 10:10 - Reading : 3 minute(s)

US Presidential Elections US Treasury Asia Nasdaq

Asian markets mostly fell Friday, tracking a global slide in stocks fuelled by tame tech earnings and investor jitters less than a week before neck-and-neck US elections. All three major US indices fell Thursday, with the tech-rich Nasdaq Composite Index dropping nearly three percent. Microsoft and Meta topped earnings estimates, but saw their ...

The Impact of Military Activities on 'Made in Lebanon' Products

Liliane Mokbel 2024-10-31 19:15 - Reading : 3 minute(s)

Baalbeck Dahyeh South Lebanon

The Lebanese industrial sector has experienced a significant loss of domestic market share, with the notable exception of the pharmaceutical and food industries, as consumers increasingly prioritize essential goods. Furthermore, opportunities for international trade have diminished. According to Ziad Bekdache, Vice President of the Association of ...

Two Payments for Bank Depositors in November Instead of One

This is Beirut 2024-10-31 17:40 - Reading : less than a minute

Banks Central Bank of Lebanon Depositors Circular 158 circular 166

Beneficiaries of Central Bank (BDL) circulars 158 and 166 will receive two monthly payments for November instead of one, as announced by This is Beirut on Wednesday. Due to the “urgent circumstances” that Lebanon is currently experiencing, the BDL Central Council requested in a statement released on Thursday that banks provide two ...

TotalEnergies: Third Quarter Net Income Plummets

This is Beirut 2024-10-31 11:50 - Reading : less than a minute

TotalEnergies Income

TotalEnergies reported a dramatic decline in its net profit for the third quarter, falling to €2.1 billion due to a sharp drop in refining margins and lower oil prices, the group announced Thursday. “In a bearish oil environment, with refining margins down sharply, TotalEnergies is demonstrating the resilience of its integrated multi-energy ...