Corm Announces Plan to Restart Damaged Phone Centrals

This is Beirut 2024-12-03 16:05 - Reading : 1 minute(s)

South Lebanon Ogero Internet Touch Alpha

Caretaker Telecommunications Minister Johnny Corm inspected on Tuesday the damage caused to Ogero central in al-Mreijeh, in Beirut's southern suburb, and announced that an action plan would soon be drawn up to restore all the telephone centrals damaged by the Israeli raids in Beirut, southern Lebanon and the Beqaa region. At the end of the tour, ...

ExplainerRevaluation of Inventories and Fixed Assets: A Strategic Advantage for Businesses

Liliane Mokbel 2024-12-02 19:30 - Reading : 3 minute(s)

Economy Industry Commerce Parliament Lebanon

Industrial and commercial business owners are celebrating a major victory. Last Thursday, Parliament passed in a plenary session the bill amending Article 45 of Decree-Law No. 144 of June 12, 1959 (the Income Tax Law). This amendment grants "exceptional authorization" to income taxpayers, allowing them to revalue their inventories and real estate ...

Lebanon's Central Bank Walking a Tightrope

Liliane Mokbel 2024-11-30 15:05 - Reading : 3 minute(s)

Banque du Liban Circulars

Lebanon’s Central Bank (BDL) is easing the pressure to appease the foreign exchange market, amid a “neither war nor peace” climate that only heightens its volatility. The decision by the BDL’s Central Council, dated November 26, 2024, reflects clear intent to implement a “flexible monetary policy” even though this approach might ...

Figure of the weekZero Used Car Sales Since End of September

Liliane Mokbel 2024-11-30 12:00 - Reading : less than a minute

Hezbollah Israel

According to Elie Kazzi, the President of the Syndicate of Used Car Importers, losses due to damage to imported vehicles during the war between Israel and Hezbollah are estimated at around $60 million. The sector remains particularly vulnerable, as many Lebanese are reluctant to buy used cars during periods of instability, especially since they ...

Black Friday or the Day of Great Deals!

Christiane Tager 2024-11-30 09:30 - Reading : 2 minute(s)

United States

Black Friday, held annually the day after Thanksgiving—an American holiday celebrated on the fourth Thursday of November—marks the start of the Christmas shopping season. This event is characterized by significant discounts offered by both physical stores and online retailers. In Lebanon, some businesses began their promotions last Friday and ...

ExplainerExit from Gray List: Banks' Compliance and Government Action

Maurice Matta 2024-11-30 09:00 - Reading : 5 minute(s)

Lebanon Banks Economy

On October 25, Lebanon was officially placed on the gray list of the Financial Action Task Force (FATF), subjecting the country to enhanced monitoring. The FATF report highlighted ongoing vulnerabilities in Lebanon’s efforts to strengthen measures against money laundering and terrorism financing. A key point in the report was FATF’s ...

Japanese Yen Rises Ahead of Potential Interest Rate Cut

This is Beirut 2024-11-29 13:15 - Reading : 3 minute(s)

Banks Donald Trump Europe USA Japan

The yen rallied Friday after forecast-busting inflation data out of Tokyo boosted talk of another Japanese interest rate cut next month, while equity markets were mixed as traders weigh the economic outlook during a second Trump administration. With Wall Street closed for the Thanksgiving break, there were few catalysts to drive business heading ...

Public Sector: Salaries Are Ready

This is Beirut 2024-11-28 20:55 - Reading : less than a minute

Banque du Liban

On Thursday, the Ministry of Finance announced that, after completing the transfer procedures for retirees' pensions and salaries for all military personnel, members of these groups will be able to withdraw their salaries from their private banks starting tomorrow, Friday, November 29. As for the salaries of other public employees, transfers will ...

Can You Invest in Bitcoin in Lebanon?

This is Beirut 2024-11-28 16:55 - Reading : less than a minute

The crypto boom has driven the price of #Bitcoin, the world’s leading cryptocurrency, to a record high, sparking discussions about its potential in countries like Lebanon. Here’s what you need to know about #cryptocurrency trading and investment in Lebanon. Full report via link in bio.

Numbers & FiguresTotal Assets of Lebanese Commercial Banks Drop 8.06% YoY as of August 2024

This is Beirut 2024-11-28 16:25 - Reading : 2 minute(s)

Banque du Liban Lebanese Banks

According to the consolidated balance sheet of Lebanese commercial banks, total assets contracted by 8.06% year-on-year (YoY), dropping to $104.56 billion in August 2024. This decline followed Banque du Liban’s (BDL) adoption of a new official exchange rate of LBP 89,500 per USD, effective January 31, 2024. Currency and deposits with BDL ...

MEA: Back to Normal

This is Beirut 2024-11-28 13:35 - Reading : less than a minute

MEA Lebanon Flights

The national carrier Middle East Airlines (MEA) will resume all flights as normal from December 12. The airline also began operating additional flights on Thursday to meet demand, which has increased considerably. Sources at MEA confirmed that, since the announcement of the ceasefire, more than 6,000 requests have been received via the website, ...

Reinsurers Reluctant Toward Lebanese Insurance Companies Over Conflict

Liliane Mokbel 2024-11-27 16:00 - Reading : 3 minute(s)

Central Bank of Lebanon Hezbollah Israel Insurances Reinsurers

Reinsurers are hesitant to renew reinsurance contracts with Lebanese insurance companies — an expected approach in view of the conflict sparked by Hezbollah’s front against Israel. As the year-end approaches, most annual reinsurance agreements for the 40 insurance companies operating in Lebanon are set to expire. Negotiations have been ...