Antoine Saade 2024-11-01 16:15 - Reading : 2 minute(s)
Since the southern Lebanese front was opened in support of Gaza in October 2023, the restaurant industry has experienced a dramatic decline. During lunchtime, restaurants are nearly empty in Downtown Beirut. Samir Yaacoub, a restaurant chain owner in Lebanon, told our sister company “Houna Loubnan” that business varies greatly from one area ...
Maurice Matta 2024-11-01 11:00 - Reading : 3 minute(s)
For the second consecutive month, retired teachers in Lebanon have not received any increase in their salaries in Lebanese pounds, which has lost substantial value since the currency's collapse in 2019. Unlike other sectors, retired teachers have not received any salary adjustments, except for a few months under a protocol signed between the ...
This is Beirut 2024-11-01 10:10 - Reading : 3 minute(s)
US Presidential Elections US Treasury Asia Nasdaq
Asian markets mostly fell Friday, tracking a global slide in stocks fuelled by tame tech earnings and investor jitters less than a week before neck-and-neck US elections. All three major US indices fell Thursday, with the tech-rich Nasdaq Composite Index dropping nearly three percent. Microsoft and Meta topped earnings estimates, but saw their ...
Liliane Mokbel 2024-10-31 19:15 - Reading : 3 minute(s)
The Lebanese industrial sector has experienced a significant loss of domestic market share, with the notable exception of the pharmaceutical and food industries, as consumers increasingly prioritize essential goods. Furthermore, opportunities for international trade have diminished. According to Ziad Bekdache, Vice President of the Association of ...
This is Beirut 2024-10-31 17:40 - Reading : less than a minute
Banks Central Bank of Lebanon Depositors Circular 158 circular 166
Beneficiaries of Central Bank (BDL) circulars 158 and 166 will receive two monthly payments for November instead of one, as announced by This is Beirut on Wednesday. Due to the “urgent circumstances” that Lebanon is currently experiencing, the BDL Central Council requested in a statement released on Thursday that banks provide two ...
This is Beirut 2024-10-31 11:50 - Reading : less than a minute
TotalEnergies reported a dramatic decline in its net profit for the third quarter, falling to €2.1 billion due to a sharp drop in refining margins and lower oil prices, the group announced Thursday. “In a bearish oil environment, with refining margins down sharply, TotalEnergies is demonstrating the resilience of its integrated multi-energy ...
This is Beirut 2024-10-31 11:40 - Reading : 1 minute(s)
Danish shipping giant Maersk said Thursday that profits in the third quarter were six times higher than the same period last year as it maintains high prices to get trade through conflict zones. Net profits from trading from July to September rose to $3.049 billion, while turnover rose 30% to $15.76 billion. The world's number two shipping ...
Christiane Tager 2024-10-30 21:45 - Reading : 2 minute(s)
Since the beginning of the conflict between Israel and Hezbollah on October 8, 2023, Lebanon has endured significant human and economic losses, further weakening a country that faces serious political and economic challenges. The impact of the persisting conflict is felt across all sectors. In an interview with This is Beirut, financial and ...
This is Beirut 2024-10-30 19:25 - Reading : 3 minute(s)
Lebanon has suffered enormous human, material and economic losses due to the bombings, compounded by a massive wave of displacement not seen since the end of the Civil War in 1990. Most sectors of the Lebanese economy are currently stagnating, with significant declines in tourism and agriculture. The report indicates that the damages are colossal, ...
This is Beirut 2024-10-30 12:15 - Reading : less than a minute
Banks Banque du Liban Central Bank of Lebanon
In the coming 48 hours, beneficiaries of Banque du Liban (BDL) Circulars 158 and 166, related to exceptional withdrawals of fresh dollars, will receive updates regarding potential amendments. A source close to the Central Bank has indicated that the number of monthly payments available to eligible depositors will be reduced to two, instead of the ...
Liliane Mokbel 2024-10-29 17:15 - Reading : 3 minute(s)
Budget Lebanese pound Displaced
In the absence of a miraculous diplomatic breakthrough, there are fears that the war between Israel and Hezbollah will continue into next year, according to several reliable sources. In this scenario, economic forecasts project a GDP of $12 billion for 2025—well below that of Gaza and the West Bank. With such a figure, achieving the projected ...
This is Beirut 2024-10-29 15:40 - Reading : 1 minute(s)
The General directorate of the Land registry office announced on Tuesday that “the cadastral secretariats of Aley and Chouf will hand over ready payment orders and ready property titles to those who wish to have them, or their representatives, on Thursday, October 31, 2024.” It said that a reception mechanism has been determined for ...