ExplainerSyria Post-Assad – Day 1: Basic Necessities, Telecommunications and the Future of the Syrian Pound

Liliane Mokbel 2024-12-08 13:10 - Reading : 2 minute(s)

Syria Economy Bashar el Assad

Following the collapse of Bashar al-Assad's regime, Syria is left with a crumbling economy, shaped by decades of state control and average wages barely surpassing $40 per month. The country’s economic prospects now depend largely on the removal of American and Western sanctions, as well as financial assistance from the international community. ...

Record S&P 500 and Nasdaq on Wall Street, Thanks to US Employment Figures

This is Beirut 2024-12-07 14:05 - Reading : 1 minute(s)

Economy New York Wall Street

The Nasdaq and the S&P hit fresh records on Friday after the November US jobs report came in better than expected, with the Dow edging down. The world's biggest economy gained 227,000 jobs in November, up from a revised 36,000 in October, according to the Department of Labor. "It's kind of being viewed as a Goldilocks jobs print," Tom Cahill ...

Figure of the weekHotel Occupancy in Beirut Drops Below 10%, Regions Near 0%

Liliane Mokbel 2024-12-07 12:00 - Reading : less than a minute

tourism beirut hotels

The hotel occupancy rate in Beirut has fallen below 10%, while in other regions, it is approaching 0%, according to Pierre Achkar, president of the Union of Syndicates of Tourist Establishments in Lebanon. "Arab countries continue to boycott Lebanon, and European nations do not anticipate a swift return of their citizens. A mandatory waiting ...

Rebuilding Lebanon: A Path to Economic Revival

This is Beirut 2024-12-07 10:00 - Reading : 1 minute(s)

Lebanon Economy Reconstruction

This is probably the reality Lebanon will have to face. With the end of the war, the countdown has begun, including an assessment of damages estimated at $6 billion and the initiation of reconstruction. The productive and economic sectors will have the opportunity for a significant recovery, starting with the laying of the cornerstone on the site ...

Water Authority Calls for Payment of Dues

This is Beirut 2024-12-06 20:35 - Reading : 1 minute(s)

EBML Lebanon OMT Water Bills

The Establishment of The Water of Beirut and Mount Lebanon (EBML) has urged its subscribers to settle their fees for the current year (2024). Payments can be made at water office branches or through the Online Money Transfer SAL (OMT) service. Bank card payments are accepted at the water office branches. However, the EBML noted that, due to ...

Telecom Sector Suffered $117 Million in Damages

This is Beirut 2024-12-06 20:25 - Reading : 2 minute(s)

Lebanon's telecommunications sector has suffered significant damage due to Israeli bombings, with initial estimates placing the losses at $117 million. This was revealed by the caretaker Minister of Telecommunications, Johnny Corm, in an interview with Sputnik. Corm explained that the estimated figures range between $88 million and $117 million, ...

Counterfeit Bills: A Closer Look at the Dollar

Liliane Mokbel 2024-12-06 18:45 - Reading : 3 minute(s)

Central Bank of Lebanon Dollar Bills Counterfeit

Are counterfeit dollar bills circulating in the market? If so, it's clear that this issue is not limited to Lebanon but also affects other global markets. However, the Lebanese are particularly sensitive to it due to the country's economic crisis, which has left the cash economy in a fragile state, all amid a "neither peace nor war" situation ...

Year-End Celebrations: Resilience Amid Echoes of War

Christiane Tager 2024-12-06 13:50 - Reading : 2 minute(s)

Hezbollah Israel USA

Year-end festivities in Lebanon are expected to unfold in a gloomy atmosphere, driven by regional instability and the conflict between Hezbollah and Israel. The war has cast a shadow over the country, where tension is still palpable. Despite the challenges and lingering echoes of war in southern Lebanon and in Syria, the Lebanese are holding on ...

World Bank Announces Record $100 Billion Support for World's Poorest Countries

This is Beirut 2024-12-06 10:40 - Reading : 2 minute(s)

Banks Turkey United Kingdom United States

The World Bank announced Thursday that it had raised close to $24 billion to provide loans and grants for some of the world's poorest nations, which it can leverage to generate a record $100 billion in total spending power. Donor countries committed $23.7 billion to replenish the bank's concessional lending arm, known as the International ...

Beirut Airport: 14 Arab and Foreign Airlines to Resume Flights

This is Beirut 2024-12-05 17:05 - Reading : less than a minute

Beirut International Airport

According to the flight schedule in and out of Beirut International Airport (BIA), 14 Arab and international airlines will resume flights to Beirut soon. In case the ceasefire deal between Israel and Hezbollah is upheld, some have made the decision to start flying again to Beirut before December 15. Following are the main Arab and international ...

Bitcoin Surges past $100,000 Valuation for First Time

This is Beirut 2024-12-05 10:55 - Reading : 1 minute(s)

Donald Trump USA Bitcoin Korea

Bitcoin burst past $100,000 for the first time Thursday, while Seoul stocks slipped as South Korea's president faced impeachment after his brief imposition of martial law this week. After hovering around the mid-$90,000 mark in recent weeks, the popular cryptocurrency finally shattered the historic level in Asia after incoming US president Donald ...

ExplainerE-commerce Is Thriving in Lebanon

Liliane Mokbel 2024-12-05 08:30 - Reading : 3 minute(s)

e-commerce Lebanon

The sector shows significant growth potential, however, realizing this requires enhancements to logistical infrastructure and improvements to the regulatory framework. According to Statista Market Insight, Lebanon’s e-commerce market is expected to reach $1.311 billion in revenue in 2024, with an average annual growth rate (CAGR) of 8.88% ...