Maurice Matta 2024-07-09 14:10 - Reading : 4 minute(s)
The Association of Banks in Lebanon (ABL) is preparing to elect its new board of directors next Wednesday. Consensus has historically shaped the outcome of each election, and this year's electoral process is equally critical, mirroring the importance of the two previous ones, given the precise circumstances, ongoing presidential vacancy, financial ...
This Is Beirut 2024-07-08 17:22 - Reading : 4 minute(s)
Electricité du Liban (EDL) announced on Monday that it is taking preventive measures to avoid a blackout until it receives the second portion of diesel allocated for June 2024. In a press release, the public supplier explained that it had to resort to these measures to extend the period of energy production for citizens and maintain a continuous ...
2024-07-08 13:45 - Reading : 1 minute(s)
Over the past three years, 1,300 industrial licenses have been granted in all sectors in Lebanon. This was stated on Monday by caretaker Minister of Industry George Bouchikian, who assured that the Lebanese industry is doing well, and that today, the industry sector represents 37 to 41% of the gross domestic product (GDP). Bouchikian believes ...
This Is Beirut 2024-07-08 13:40 - Reading : 1 minute(s)
European stock markets edged up on Monday as investors digested snap French elections in which a hung parliament appeared the likeliest outcome. In France, the left was set to emerge as the biggest group in a new parliament, beating out a resurgent far-right in a vote called by President Emmanuel Macron three years ahead of schedule. The ...
Liliane Mokbel 2024-07-07 17:47 - Reading : 2 minute(s)
The lack of funds in EDL's account at Lebanon's Central Bank (BDL) is delaying the unloading of essential Iraqi fuel oil for the country's power plants, which is currently stored on board the tanker Sky Rider off the coast of Lebanon. Consequently, the risk of Lebanon being plunged into total darkness starting Monday is significantly increasing. ...
2024-07-05 16:33 - Reading : less than a minute
Lebanon has risen to 54th place globally and 6th among Arab countries in the mid-2024 global cost of living index, with a value of 41.78. In the report related to the global cost of living index, published by the statistics site Numbeo, 121 countries are ranked in comparison to figures from the United States. Four other indicators are also ...
This Is Beirut 2024-07-05 14:23 - Reading : less than a minute
The Director General of the National Social Security Fund (NSSF), Mohammad Karaki, asked the relevant financial services on Friday to transfer LBP 60 billion to hospitals to pay for the treatment of dialysis patients. This brings the total amount paid since the beginning of the year to LBP 581 billion. This periodic procedure, specially carried ...
2024-07-05 08:00 - Reading : 2 minute(s)
The power struggle between the Ministry of Finance (MOF) and Ogero lingers. As a result, the union representing employees of Lebanon's public telephone and internet provider took a stand on Thursday, denouncing a financial blockade. They announced that they would resort to escalating measures if positive and concrete actions are not implemented on ...
This Is Beirut 2024-07-04 15:19 - Reading : 2 minute(s)
London's stock market and the pound advanced versus the dollar Thursday as Britons voted in a general election expected to be won by the centre-left and main opposition Labour party. Eurozone stocks also pushed higher amid political manoeuvring to try and block the far-right National Rally (RN) of Marine Le Pen from gaining power in France's ...
Nicolas Sbeih 2024-07-04 11:00 - Reading : 5 minute(s)
Few bankers get the chance to speak freely in the media, as this is frowned upon. They're seldom invited to debates, and if they are, it's only to be bombarded with a well-prepared barrage of acidic slurs. In fact, we have been hearing the same tirades for the past five years, with each critic thinking they've made a groundbreaking ...
Liliane Mokbel 2024-07-03 19:09 - Reading : 3 minute(s)
The commission tasked with drafting proposals to amend the Monetary and Credit Code (CMC) presented its project to Caretaker Prime Minister Najib Mikati on Monday after eleven months of rigorous effort. However, there is still a lengthy process ahead before the amendments become effective. The proposed text must first be examined by parliamentary ...
This Is Beirut 2024-07-03 12:58 - Reading : less than a minute
Caretaker Minister of Telecommunications Johnny Corm revealed on Wednesday in an interview with the Voice of Lebanon that China has provided financial assistance estimated at $40 million to the Lebanese state. The Ministry of Telecommunications is seeking to benefit from a portion of this amount. He further explained that his ministry had ...