Economy

Khalaf: Fair Solutions to Restore Confidence
Khalaf: Fair Solutions to Restore Confidence

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 ...

Iran mulls moving capital to 'lost paradise' on southern coast
Iran mulls moving capital to 'lost paradise' on southern coast

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 ...

Electricity: Why Is Lebanon on the Brink of a Blackout?
Behind the ScenesElectricity: Why Is Lebanon on the Brink of a Blackout?

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” ...

Surge in Demand for Prefabricated Homes in Lebanon
Surge in Demand for Prefabricated Homes in Lebanon

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 ...

Lebanon’s Fresh Dollar Transactions Surge in 2024, Reaching $302 Million
Figure of the weekLebanon’s Fresh Dollar Transactions Surge in 2024, Reaching $302 Million

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%, ...

Bordeaux wine harvest drops to lowest level since 1991
Bordeaux wine harvest drops to lowest level since 1991

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 ...

EU vows to respond 'firmly and immediately' to US tariffs
EU vows to respond 'firmly and immediately' to US tariffs

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 ...

Alfa Clarifies Service Outage, Announces Compensation for Subscribers
Alfa Clarifies Service Outage, Announces Compensation for Subscribers

Alfa, the mobile operator, explained the reasons behind Wednesday’s disruption of several of its services. In a statement, the company attributed the outage to a technical issue that occurred while updating an outdated router used for data transmission. Alfa apologized to its subscribers and reassured them that its network is undergoing ...

France says EU working toward 'rapid' easing of Syria sanctions
France says EU working toward 'rapid' easing of Syria sanctions

France's Foreign Minister Jean-Noel Barrot said Thursday that the European Union was working toward swiftly easing Syria sanctions as Paris hosted a conference on the transition in the war-torn country after president Bashar al-Assad's fall. Islamist-led rebels toppled Assad in December after a lightning offensive. The new authorities, headed by ...

Real Estate in Lebanon: Between New Hopes and Persistent Challenges
Real Estate in Lebanon: Between New Hopes and Persistent Challenges

In an interview with This is Beirut, Ahmad el-Khatib, managing partner of Century 21 Lebanon, an international real estate brokerage agency, shares his vision of the Lebanese real estate market. “As real estate brokers, we are at the heart of the market and directly feel its fluctuations, whether positive or negative. Our daily interactions ...

Facing Egg Shortage, Americans Bring Chickens Home to Roost
ReportFacing Egg Shortage, Americans Bring Chickens Home to Roost

A Houston poultry supply company is selling chickens like there is no tomorrow, as sky-high prices for eggs prompt some Americans to produce their own at home. A recent US outbreak of bird flu since early 2024 is exacting a heavy toll on poultry farms. More than 21 million egg-laying hens have been "depopulated" this year so far, after 13.2 ...

Scientists warn of climate threat to chocolate
Scientists warn of climate threat to chocolate

Climate change drove weeks of crop-withering temperatures last year in the West African countries that underpin the world's chocolate supply, hitting harvests and likely further stoking record prices, researchers said Wednesday. Farmers in the region -- which account for some 70 percent of global cacao production -- have struggled with heat, ...