This Is Beirut 16/01 15:44 - Reading : 3 minute(s)
The Association of Banks in Lebanon (ABL) published its economic and financial report for November 2023, in which it reviews financial, banking, economic and monetary developments. The report shows an increase in private sector deposits in Lebanese pounds with banks to 55.329 billion at the end of November 2023, compared with 50.051 billion at ...
This Is Beirut 16/01 14:17 - Reading : less than a minute
Caretaker Minister of Finance Youssef Khalil announced on Tuesday two decisions to extend the payment deadlines for two taxes in order to give taxpayers more time and avoid late payment fines. The deadline for filing the annual return relating to income tax on salaries and wages for the fourth quarter of 2023, as well as payment, has been ...
This Is Beirut 15/01 16:26 - Reading : less than a minute
Air traffic at Beirut's Rafic Hariri International Airport (BIA) recorded a 12.24% increase in the number of passengers traveling to and from Lebanon over the past year (2023), accounting for a total of 7,127,649 passengers, compared with 6,349,967 passengers in 2022. The number of arrivals in Lebanon rose by 11.51%, while departures increased by ...
Liliane Mokbel 14/01 12:48 - Reading : 3 minute(s)
Many MPs have voiced their concerns, alternatively denouncing "hidden deficits" or "covered-up deficits" in the proposed 2023 budgets (which have not been voted on yet) and that of 2024. The 2024 budget project, examined by parliamentary committees, anticipates a deficit of around LBP 17 trillion. This figure has been contested by numerous MPs ...
Mario Chartouni 13/01 11:28 - Reading : 4 minute(s)
In 2019, Sri Lanka, the Asian island celebrated for its rich heritage and stunning landscapes, faced its most severe economic crisis since gaining its independence in 1948. What were the underlying causes, symptoms, effects, and potential solutions for this crisis? No Smoke Without Fire The first tragedy struck on April 21, 2019, Easter Sunday, ...
This Is Beirut 12/01 13:58 - Reading : 1 minute(s)
Profits made by the two mobile operators Alfa and Touch increased by tens of millions of dollars year-on-year while expenses were reduced, saving millions of dollars which were transferred to the Treasury. The financial conditions of the two mobile operators were on the agenda of the parliamentary Information and Telecommunications Committee, ...
This Is Beirut 11/01 21:51 - Reading : 1 minute(s)
Acting Governor of Lebanon's Central Bank (BDL) Wassim Mansouri said on Thursday that "the opportunity is real and the time has come to start finding solutions for the country's (woes) as a whole." Speaking at the end of a panel discussion at the headquarters of the General Confederation of Lebanese Workers (CGTL), Mansouri stressed that, for ...
This Is Beirut 11/01 21:47 - Reading : 1 minute(s)
The damage caused to the road network by the storm that hit Lebanon in December cost the Ministry of Public Works USD 1.5 million, at a time when the Ministry's budget for all road-related matters for the years 2022 and 2023 is USD 2.4 million. This was revealed by caretaker Minister of Public Works Ali Hamieh after a meeting with Prime Minister ...
Nicolas Sbeih 11/01 14:31 - Reading : 5 minute(s)
If one wished to enumerate, for amusement, the hindrances to investment and economic development in the country, they would have a plethora of options. I'm not certain that the allocated megabytes for this section would be sufficient. In a hodgepodge fashion, one can mention: closed, semi-closed or ajar administrations, turning formalities into a ...
This Is Beirut 10/01 19:49 - Reading : 1 minute(s)
The International Labor Organization (ILO) warned on Wednesday that global unemployment could rise in 2024, expressing concern over stagnating productivity, rising inequality and income-eroding inflation. "The global unemployment rate fell from 5.3% in 2022 to 5.1% in 2023, but an additional two million workers are expected to be looking for work ...
This Is Beirut 10/01 18:10 - Reading : 1 minute(s)
In an information note published on Wednesday, the Central Bank (BDL) appealed to market makers who wish to operate on its new Bloomberg-managed foreign exchange platform to contact the company directly. In this context, BDL has invited banks that wish to take part in the new platform's activity and that have not yet integrated the Bloomberg FX ...
This Is Beirut 10/01 17:51 - Reading : 2 minute(s)
Lebanon's state-run electricity company, Electricité du Liban (EDL), has announced a gradual increase in power supply, stressing, however, the need to take preventive measures to avoid having the fuel shortage problem be repeated in mid-February. In a press release issued on Wednesday, the public electricity supplier indicated that it was able ...