This is Beirut 17/06 11:35 - Reading : less than a minute
Energy and Water Minister Joe Saddi announced that he has proposed cancelling or suspending the recent increase in customs duties on petroleum products, which was approved by the Cabinet during its session on May 29. “While I fully support the principle of providing financial assistance to all military personnel, both active and retired,” ...
Christiane Tager 16/06 22:40 - Reading : 3 minute(s)
Beirut International Airport Gulf Israel Turkey
Tourism, a vital sector that accounted for over 20% of Lebanon’s GDP before the 2019 crisis, was poised to provide a much-needed boost to the country’s battered economy. Following Eid al-Adha, hotel occupancy rates in Beirut surged to 80%, signaling a bright season ahead. “We had a surge of bookings for the next two weeks, but they’re ...
This is Beirut 16/06 12:30 - Reading : 2 minute(s)
The Ministry of Energy and Water announced on Monday that it has authorized the unloading of the Minerva Antonia’s cargo, following confirmation that the fuel on board complies with current specifications. According to a statement released by the Ministry’s press office, the latest tests conducted on samples from the ship’s cargo confirmed ...
This is Beirut 16/06 12:20 - Reading : 4 minute(s)
Israel Middle East Oil Gold Price
Oil prices retreated on Monday as fears of a wider Middle East conflict eased even as Israel and Iran pounded each other with missiles for a fourth day and threatened further attacks. Gold prices rose back towards a record high thanks to a rush into safe havens but equities were mixed amid hopes that the conflict does not spread. Investors were ...
Liliane Mokbel 15/06 14:40 - Reading : 2 minute(s)
Gulf Israel Strait of Hormuz Iran economy energy
As the Middle East flares up amid mounting tensions between Iran and Israel, one urgent question dominates global attention: Is Tehran ready to close the Strait of Hormuz, a crucial lifeline for the world’s energy supply? On Friday night, Emmanuel Macron sounded a stark warning. In a statement, the French president cautioned, “We must brace ...
Christiane Tager 14/06 15:30 - Reading : 3 minute(s)
Beirut recorded less than 350 mm of rainfall between November and March—well below the annual average of 800 mm—making the winter of 2024-2025 one of the driest in the last 20 years, according to official data. In the Beqaa, a vital agricultural hub, precipitation fell by over 45% compared to the seasonal average. This severe drop disrupted ...
Liliane Mokbel 14/06 12:00 - Reading : less than a minute
Economy Lebanon World Food Program
According to the World Food Program, the survival food basket has reached LBP 44.2 million, or around $492, an increase of $42 since January. That's how much it now costs for a family of five to cover its basic food needs for a month in Lebanon. This basket, which includes rice, wheat, pulses, oil, sugar, salt and sardines, represents the bare ...
This is Beirut 13/06 11:35 - Reading : 2 minute(s)
Israel Middle East Donald Trump Benjamin Netanyahu
Oil prices soared and stocks sank Friday after Israel launched strikes on Iranian nuclear and military sites and warned of more to come, stoking fears of a full-blown war. Investors ran for the hills on news of the attacks and a warning from Tehran that its regional foe faced a "bitter and painful" fate, while US President Donald Trump has said a ...
Liliane Mokbel 12/06 12:00 - Reading : 3 minute(s)
European Union Saudi Arabia Syria economy reconstruction Lebanon Qatar
The international community appears determined to reintegrate Syria both economically and politically after decades of isolation. This momentum stands in stark contrast to neighboring Lebanon, which fears that Syria’s reconstruction will monopolize international attention, pushing its own geopolitical and economic challenges into the ...
This is Beirut 11/06 15:40 - Reading : less than a minute
According to official statistics and reports from several local banks, Lebanon's public debt has exceeded the $100 billion mark. This historic level reflects years of accumulated budget deficits, inefficient public management, poor financial governance and a lack of structural reforms. This debt includes both domestic and external debt incurred ...
This is Beirut 11/06 14:50 - Reading : 3 minute(s)
Drawing high-powered tech CEOs and a presidential visit, the Vivatech trade fair opened in Paris on Wednesday with a bang as Nvidia boss Jensen Huang announced a major push into Europe. “In just two years, we will increase the amount of AI computing capacity in Europe by a factor of 10,” Huang told a packed hall in a southern Paris convention ...
This is Beirut 11/06 11:40 - Reading : 4 minute(s)
The latest round of kabuki theater between Lebanon’s government and the IMF has produced what all such high-level summits inevitably do: a mixture of forced smiles, indecipherable jargon, and the vague scent of scorched-earth diplomacy. It also revealed something everyone in the room knew but no one had the courage—or funding—to fix: Lebanon ...