Economy

Billionaire Bloomberg Pledges to Cover U.S. Climate Contributions After Trump’s Withdrawal

This is Beirut 23/01 14:45 - Reading : 2 minute(s)

Donald Trump United Nations Republicans UN-Climate Michael Bloomberg

After Donald Trump’s announcement of a new U.S. withdrawal from the Paris Climate Agreement, American billionaire Michael Bloomberg committed on Thursday to cover, on behalf of the federal government, any unpaid U.S. contributions to the UN Climate body. Just like during Trump's first term, the businessman, who is opposed to the Republican and ...

BDL’s Foreign Reserve Assets Stand at $10.35B After a $210.47M Rise in the First Two Weeks of January 2025

This is Beirut 23/01 13:50 - Reading : 2 minute(s)

Central Bank of Lebanon Balance sheet of BDL Foreign Reserve Assests

According to the balance sheet of Lebanon’s Central Bank (BDL), the Bank’s total assets declined by 13.44% annually, to reach $93.22 billion by mid-January 2025, under the 89,500 LBP/USD official rate maintained by BDL since February 1, 2024. The fall was mainly due to the 80.60% and 24.49% year-on-year (YOY) drop in deferred open market ...

Appointment of Lebanese Commercial Attachés: A Recurring Theme

Liliane Mokbel 23/01 11:50 - Reading : 2 minute(s)

Abdallah Bou Habib Kuwait Washington

While this request appears valid and justified at first glance, it seems these organizations have forgotten what transpired just six years ago. Back then, the government responded to a similar request by appointing commercial attachés in about 20 countries deemed "strategic" for Lebanese exports. This initiative, however, was short-lived, likely ...

Invalid 2025 Draft Budget to Be Returned to Cabinet Urgently

Maurice Matta 22/01 12:55 - Reading : 4 minute(s)

Central Bank of Lebanon 2025 Budget parliament Draft Budget

On October 4, 2024, Caretaker Prime Minister Najib Mikati's government issued Decree No. 14076, submitting the 2025 draft budget to Parliament. Signed by Mikati and Finance Minister Youssef Khalil, it has since been left untouched, pending review by key committees, notably the Finance and Budget Committee and the Administration and Justice ...

Trump Launches His Own Cryptocurrency!

Christiane Tager 22/01 11:10 - Reading : 2 minute(s)

Donald Trump United States

It was only a matter of time before Donald Trump had his own cryptocurrency, and now it’s finally here. Just two days before being inaugurated as the 47th president of the United States, Donald Trump launched his personal crypto. Trump has entered the cryptocurrency world with a "meme coin" bearing his likeness. The coin features Trump with a ...

Netflix Reports Surge in Subscribers, new Price Hikes

This is Beirut 22/01 09:35 - Reading : 3 minute(s)

United States USA

Netflix on Tuesday said it added nearly 19 million subscribers during the holiday season to finish out last year with more than 300 million subscribers. Company executives credited steady investments in shows and films with helping power growth at the streaming behemoth, while announcing it is increasing prices in Argentina, Canada, Portugal and ...

Trump Touts $500 bn AI Project , Faces Criticism from Cathedral Pulpit

This is Beirut 22/01 09:20 - Reading : 6 minute(s)

Donald Trump Democrats Republicans Tik Tok AI

President Donald Trump on Tuesday announced a major investment to build infrastructure for artificial intelligence led by Japanese giant Softbank, cloud giant Oracle and ChatGPT-maker OpenAI. The venture, called Stargate, "will invest $500 billion, at least, in AI infrastructure in the United States," Trump said in remarks at the White House. ...

Is It Possible to Return Syrian Bank Deposits?

Liliane Mokbel 21/01 19:10 - Reading : 3 minute(s)

Banks Central Bank of Lebanon Depositors Syrians

During a visit to Syria in early January, caretaker Prime Minister Najib Mikati was met with a striking demand from the country’s new ruler, Ahmad al-Sharaa: the restitution of Syrian deposits held in Lebanese banks. While the request might appear justified on the surface, it lacks clarity and a solid legal foundation, according to a legal ...

Stocks enjoy 'Trump bump', but oil slumps

This is Beirut 21/01 17:20 - Reading : 2 minute(s)

Donald Trump New York Tik Tok Stocks

Global stock markets climbed on Tuesday as Donald Trump wasted no time in starting his second term as US president with a raft of announcements affecting the global economy. Oil prices slumped however on the prospect of more drilling in the United States, while the dollar lost much of its initial gains. Wall Street's major indices rose at the ...

Brazil drought lights a fire under global coffee prices

This is Beirut 21/01 16:05 - Reading : 2 minute(s)

European Union New York USA

Brazilian coffee producer Moacir Donizetti first smelled the smoke, and then watched in desperation as a blaze consumed his family coffee plantation last year. The 54-year-old was one of hundreds of farmers hit by a brutal forest fire in Sao Paulo state, where years of soaring heat and erratic rains are set to drive up the cost of an espresso or ...

Hospital Fees: When Healthcare Becomes a Privilege

Christiane Tager 20/01 20:35 - Reading : 4 minute(s)

Hospitals Insurance Fees medical coverage

The 2019 economic crisis has had a profound impact on Lebanon’s healthcare system, driving costs to alarming levels. Health insurance companies have been forced to adjust premiums in response to the devaluation of the Lebanese pound, making access to adequate healthcare coverage increasingly difficult, especially for the middle and lower ...

Hamiye Signs Agreement with THALES to Strengthen Lebanon’s Border Security

This is Beirut 20/01 15:10 - Reading : 1 minute(s)

Ali Hamiye Border Security Lebanon THALES

Caretaker Minister of Public Works and Transport Ali Hamiye signed an agreement in Paris with THALES, a leading French company specializing in aerospace, defense and security, which is also responsible for the Secure Boarding Management System (SBMS). Under the agreement, THALES will oversee the implementation of the SBMS, an advanced solution ...