Economy

14 Billion Dollars: The Devastating Losses of the Hezbollah-Israel Conflict

Christiane Tager 21/02 22:05 - Reading : 4 minute(s)

Hezbollah Israel European Union Gulf Damage War

$14 billion! That is the historic and no less colossal amount of damage caused by the conflict between Hezbollah and Israel. This sum includes both material damage and economic losses. The reconstruction costs are estimated at around $12 billion. For Nassib Ghobril, chief economist at Byblos Bank, economic losses amount to at least $3 ...

Jaber: No Increase in Customs Fees or Taxes

This is Beirut 21/02 15:30 - Reading : 2 minute(s)

Lebanon Iran Beirut Banque du Liban Custom fees

Finance Minister Yassine Jaber assured that there will be no increase in customs fees or taxes, while emphasizing that the state will ensure the collection of all its dues. Jaber emphasized that one of the prerequisites for an agreement with the International Monetary Fund (IMF) is combating customs fraud. He added that the state must strengthen ...

Consumer Prices Increase by 1.1% in January

This is Beirut 21/02 15:25 - Reading : less than a minute

lebanon price index economy

The Central Administration of Statistics (CAS) reported on Friday that Lebanon’s Consumer Price Index for January 2025 recorded a 1.1% increase, following a 0.18% decline in September 2024 compared to August 2024. This was the first increase in over a year, after record surges in 2023 (33.27% in March and 5.35% in May). However, the index saw a ...

ExplainerBDL Reserves at $10.526 Billion, $3.2 Billion Disbursed Through Circulars 158 and 166

Maurice Matta 21/02 11:00 - Reading : 3 minute(s)

Lebanon Economy Central Bank

In line with the Lebanese Central Bank (BDL) policy to raise withdrawal limits, and following consultations with President General Joseph Aoun, House Speaker Nabih Berri, Prime Minister Nawaf Salam and Finance Minister Yassine Jaber, BDL’s Central Council decided earlier this week to increase the ceiling under Circular No. 158 to $500 per month ...

ExplainerAfter the Withdrawal Limit Increase: What About BDL Reserves?

Christiane Tager 20/02 22:30 - Reading : 2 minute(s)

Lebanon Economy Banks Central Bank

In a highly anticipated move, Lebanon’s Central Bank (BDL) announced on Wednesday an increase in the withdrawal limits for Circulars 158 and 166, raising them to $500 and $250 per month, respectively, effective March 1. While the decision was welcomed by depositors, it has sparked concerns over its cost and potential impact on BDL’s reserves ...

Op-edWhen Kostanian Admits Defeat and the End of Kulluna Irada’s Project!

Tony Abi Najem 20/02 21:50 - Reading : 4 minute(s)

Banks Central Bank of Lebanon Hezbollah

The article written by Albert Kostanian, published on al-Modon’s website and titled “Announcing Defeat,” stood out. He begins with the statement: “After nearly six years of media and technical battles, the time has come to announce defeat.” In this article, where every sentence could be analyzed, it is important to focus on several key ...

Lebanon-Syria: Smuggling Thrives on Fuel

Liliane Mokbel 20/02 21:18 - Reading : 3 minute(s)

Lebanon Trafficking Syria

The illegal trafficking of goods between Lebanon and Syria has been a longstanding issue. Despite the collapse of Bashar al-Assad’s regime, little progress has been made, even with the United Kingdom’s assistance to Lebanon in securing its borders, notably through the construction of surveillance towers along the northern and eastern ...

The World Bank Recommends the Creation of a Transparent Reconstruction Fund

This is Beirut 20/02 17:50 - Reading : less than a minute

dollars lebanon

Lebanon has received key recommendations from the World Bank (WB) concerning the country’s reconstruction efforts. According to information reported by LBCI, in a recent meeting at the Grand Serail, members of the WB delegation stressed the need to establish a dedicated reconstruction fund, along with reforms to ensure financial ...

ECB rate hikes result in record loss in 2024

This is Beirut 20/02 16:15 - Reading : 2 minute(s)

Ukraine

The European Central Bank on Thursday reported a record loss in 2024 after it had aggressively hiked eurozone interest rates in response to soaring inflation. The ECB lost 7.9 billion euros ($8.3 billion) last year, the second straight year the Frankfurt-based institution has been in the red. In 2023, the central bank was down 1.3 billion euros, ...

ExplainerThe Necessity of Restructuring the Public Sector: A 'Political' Solution

Maurice Matta 20/02 10:00 - Reading : 4 minute(s)

Economy Lebanon Public Sector

Salaries and wages of public sector employees and workers: a pending issue whose resolution is tied to the beginning of the new mandate… These employees have already received promises that have not materialized, the latest being from the previous government led by Najib Mikati, which promised a new salary scale—never adopted—last June. Many ...

ExplainerEnd of the Road for the Bidding Process on Exploration of Blocks 8 and 10

Christiane Tager 19/02 20:50 - Reading : 4 minute(s)

Lebanon Economy Gas

Lebanon will close, on March 17, the third round of bidding for gas exploration in blocks 8 and 10 of its Exclusive Economic Zone (EEZ), located off its coast. This project could be a major breakthrough for the country in terms of energy security and economic development. These bids are seen as an opportunity to attract foreign investment and tap ...

Stock markets skid after Trump threatens auto tariffs

This is Beirut 19/02 17:20 - Reading : 3 minute(s)

Donald Trump Banks Europe New York Stocks

Global stock markets mostly fell Wednesday after US President Donald Trump broadened his tariff threats, stoking wider trade war fears. Trump warned the previous day that he would impose tariffs "in the neighbourhood of 25 percent" on auto imports and a similar amount or higher on semiconductors and pharmaceuticals. "Understandably this has ...