Christiane Tager 19/02 20:50 - Reading : 4 minute(s)
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 ...
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 ...
This is Beirut 19/02 16:05 - Reading : 1 minute(s)
Beirut International Airport Gulf Joseph Aoun Saudi Arabia
The President of the Federation of Tourist Unions and the Hoteliers’ Union, Pierre Achkar, has raised concerns over recent street violence and road blockades, particularly those disrupting access to Beirut’s International Airport (BIA). He cautioned that such unrest could jeopardize the tourism sector’s recent momentum, which had ...
This is Beirut 19/02 15:50 - Reading : less than a minute
Banks Banque du Liban Central Bank of Lebanon
The Central Board of Lebanon's Central Bank (BDL) has approved an increase in withdrawal limits under circulars 158 and 166, allowing depositors to withdraw $500 and $250 per month respectively. The decision will take effect on March 1, 2025. In a statement issued Wednesday, the BDL explained that the decision aligns with its ongoing policy ...
Liliane Mokbel 18/02 20:50 - Reading : 3 minute(s)
Lebanon Hezbollah Kleiate Airport
From the moment he was appointed, Minister of Public Works and Transport Fayez Rasamny has shown a firm determination to revive the rehabilitation project of Qlayaat Airport, also known as René Mouawad Airport. According to him, this initiative will be part of a comprehensive vision for air transport, which will be implemented once the government ...
This is Beirut 18/02 20:00 - Reading : 2 minute(s)
The Secretary General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, stated that fair solutions remain possible to restore depositors' trust and safeguard the banking sector, emphasizing the importance of deep reforms to revive the country's economy. In the introduction to the ABL's monthly report titled “Addressing the Financial ...
This is Beirut 18/02 16:00 - Reading : 4 minute(s)
Faced with myriad problems including gridlocked traffic and a sinking earth surface in its current capital, Iran is considering a drastic solution -- moving it to an altogether different location on the Gulf of Oman. Though the idea of moving the capital has cropped up on various occasions since the 1979 Islamic Revolution, the proposals were ...
Christiane Tager 18/02 16:00 - Reading : 5 minute(s)
The country is now facing yet another major energy crisis. According to sources at Electricité du Liban (EDL), the available fuel will last only about eight more days, threatening a complete blackout by February 25. This fuel shortage comes amid significant delays in shipments, sparked by contested tests on the fuel. “Shady dealings” ...
Christiane Tager 16/02 10:00 - Reading : 2 minute(s)
Since the ceasefire, the revival of economic activity and urgent need to shelter thousands of displaced people have led to a surge in prefabricated home orders. A supplier of prefabricated homes in Lebanon, who requested anonymity, revealed to This is Beirut that there is a 30% increase in demand. Businesses in this sector, which had seen a ...
Liliane Mokbel 15/02 12:00 - Reading : less than a minute
In 2024, the total value of fresh dollar checks cleared amounted to $302 million, according to data from the Association of Banks in Lebanon (ABL) and the research department at Bank Audi. On average, $25.2 million in fresh dollar checks were cleared each month throughout the year. The value of these checks experienced a monthly increase of 17%, ...
This is Beirut 14/02 17:02 - Reading : 2 minute(s)
Cold weather, disease and capacity cuts pushed wine production in the French Bordeaux region, last year; to a low not seen in three-and-a-half decades, the local industry body said Friday. Often called the world's most famous wine country, Bordeaux -- France's biggest wine region -- produces the iconic Medoc, Saint-Emilion, and Pomerol high-end ...
This is Beirut 14/02 15:20 - Reading : 1 minute(s)
European Union USA Donald Trump Republicans Washington
The EU vowed Friday to respond "firmly and immediately" to trade barriers after US President Donald Trump unveiled tariffs that could hit both allies and competitors. The European Commission said Trump's plans were "a step in the wrong direction" that heightened economic uncertainty and disrupted the efficiency of global markets. "The EU will ...