This is Beirut 15/01 21:20 - Reading : 2 minute(s)
The World Bank (WB) announced on Wednesday that “the World Bank Board of Executive Directors has approved financing of $257.8 million to improve water supply services in Greater Beirut and Mount Lebanon.” In a statement, it was indicated that “the second Greater Beirut Water Supply Project aims to complete vital water infrastructure, ...
Christiane Tager 15/01 19:20 - Reading : 3 minute(s)
In 2023, Lebanon’s public debt reached around $100 billion, representing approximately 200% of its GDP. This makes Lebanon one of the most indebted countries in the world in relation to its economy. It ranks second behind Japan (260% of GDP) and ahead of Greece (180% of GDP), Italy (150% of GDP) and Sudan (176% of GDP). This debt results from ...
This is Beirut 14/01 18:15 - Reading : 1 minute(s)
The US-based agency indicated that the election of President Joseph Aoun will pave the way for the formation of a fully empowered new government, with Aoun benefiting from the backing of international donors. The international agency noted that the Lebanese economy contracted by approximately 10% in 2024 but anticipates a recovery in economic ...
This is Beirut 14/01 15:40 - Reading : less than a minute
Wi-Fi 7 will soon be available at Beirut Rafic Hariri International Airport (BIA). Ogero’s Managing Director, Imad Kreidieh, told This is Beirut that preparations and tests are currently underway, with the new technology set to launch in the next 2 to 3 weeks. The upgrade will be provided through Ogero’s Wi-Fi network at the airport. Kreidieh ...
This is Beirut 14/01 15:30 - Reading : 1 minute(s)
Elon Musk is kicking off the year with a remarkable milestone. In addition to holding the title of the world’s richest person, he has become the first billionaire in nearly four decades to surpass the $400 billion mark. According to Forbes, Musk’s fortune, now valued at around $421.2 billion, has surged by $91 billion since December 1. Jeff ...
Christiane Tager 11/01 13:00 - Reading : 2 minute(s)
Banks Central Bank of Lebanon Lebanese Pound Dollar Joseph Aoun
For some time now, rumors have suggested a drop in the exchange rate from 89,500 pounds per dollar to 50,000. However, Nassib Ghobril, Chief Economist at Byblos Bank, dismisses such claims as “not serious.” “The Lebanese pound has experienced a frenzied demand since the ceasefire and Thursday’s presidential election. Speculators started ...
Christiane Tager 10/01 18:10 - Reading : 2 minute(s)
Hezbollah Israel Beirut Tourism
Lebanon is traditionally renowned for its vibrant year-end celebrations and ski resorts. However, its tourism sector was severely impacted by the conflict between Hezbollah and Israel. Foreign tourists were entirely dissuaded from visiting the Land of Cedars, and many Lebanese expatriates canceled their trip. The ceasefire between Hezbollah and ...
This is Beirut 10/01 11:00 - Reading : 1 minute(s)
Banque du Liban Joseph Aoun Hezbollah Lebanese Pound
The surge in demand for the Lebanese pound continues, prompting the Central Bank (BDL) to bolster its reserves by $120 million within a mere two-day span. With General Joseph Aoun's election as President of the Republic, the demand for the pound has surged, reaching even higher levels for the second consecutive day. In response, BDL injected the ...
This is Beirut 08/01 21:15 - Reading : less than a minute
The Lebanese Pound’s (LBP) exchange rate remains fixed, despite attempts by speculators to exploit the political atmosphere surrounding the presidential election, official sources told MTV Lebanon. Speculators are reportedly attempting to create the illusion of an improving LBP exchange rate and a declining dollar value, according to the ...
This is Beirut 07/01 16:10 - Reading : 2 minute(s)
On Tuesday, the French Economic, Social and Environmental Council (ESEC) launched its “January 7 Call” to push for the election of a President of the Republic during the parliamentary electoral session on Thursday, January 9. ESEC argued in this appeal for a return to the fundamental ideas of the rule of law, “which cannot exist without a ...
This is Beirut 07/01 15:55 - Reading : less than a minute
Mohammad Karaki, the Director General of the National Social Security Fund (NSSF), requested the transfer of LBP 27 billion to hospitals by the appropriate financial agencies. These transfers are a part of NSSF’s commitment to pay hospitals on a monthly basis so they can keep up their operations, give insured individuals high-quality care and ...
This is Beirut 07/01 15:50 - Reading : 1 minute(s)
In December 2024, BlomInvest’s Purchase Managers Index (PMI) reached its highest level in five months. In Lebanon, it scored 48.4 points in November 2024, as opposed to 48.1 the month before. According to Helmi Mourad, a research analyst at Blom Business Bank, the PMI improved for the second consecutive month, going from a low of 45 points in ...