Economy

Trump Touts $500 bn AI Project , Faces Criticism from Cathedral Pulpit

This is Beirut 22/01 09:20 - Reading : 6 minute(s)

Donald Trump Democrats Republicans Tik Tok AI

President Donald Trump on Tuesday announced a major investment to build infrastructure for artificial intelligence led by Japanese giant Softbank, cloud giant Oracle and ChatGPT-maker OpenAI. The venture, called Stargate, "will invest $500 billion, at least, in AI infrastructure in the United States," Trump said in remarks at the White House. ...

Is It Possible to Return Syrian Bank Deposits?

Liliane Mokbel 21/01 19:10 - Reading : 3 minute(s)

Banks Central Bank of Lebanon Depositors Syrians

During a visit to Syria in early January, caretaker Prime Minister Najib Mikati was met with a striking demand from the country’s new ruler, Ahmad al-Sharaa: the restitution of Syrian deposits held in Lebanese banks. While the request might appear justified on the surface, it lacks clarity and a solid legal foundation, according to a legal ...

Stocks enjoy 'Trump bump', but oil slumps

This is Beirut 21/01 17:20 - Reading : 2 minute(s)

Donald Trump New York Tik Tok Stocks

Global stock markets climbed on Tuesday as Donald Trump wasted no time in starting his second term as US president with a raft of announcements affecting the global economy. Oil prices slumped however on the prospect of more drilling in the United States, while the dollar lost much of its initial gains. Wall Street's major indices rose at the ...

Brazil drought lights a fire under global coffee prices

This is Beirut 21/01 16:05 - Reading : 2 minute(s)

European Union New York USA

Brazilian coffee producer Moacir Donizetti first smelled the smoke, and then watched in desperation as a blaze consumed his family coffee plantation last year. The 54-year-old was one of hundreds of farmers hit by a brutal forest fire in Sao Paulo state, where years of soaring heat and erratic rains are set to drive up the cost of an espresso or ...

Hospital Fees: When Healthcare Becomes a Privilege

Christiane Tager 20/01 20:35 - Reading : 4 minute(s)

Hospitals Insurance Fees medical coverage

The 2019 economic crisis has had a profound impact on Lebanon’s healthcare system, driving costs to alarming levels. Health insurance companies have been forced to adjust premiums in response to the devaluation of the Lebanese pound, making access to adequate healthcare coverage increasingly difficult, especially for the middle and lower ...

Hamiye Signs Agreement with THALES to Strengthen Lebanon’s Border Security

This is Beirut 20/01 15:10 - Reading : 1 minute(s)

Lebanon Ali Hamiye Border Security THALES

Caretaker Minister of Public Works and Transport Ali Hamiye signed an agreement in Paris with THALES, a leading French company specializing in aerospace, defense and security, which is also responsible for the Secure Boarding Management System (SBMS). Under the agreement, THALES will oversee the implementation of the SBMS, an advanced solution ...

FAO Assesses Damage to Lebanon’s Agricultural Sector

This is Beirut 20/01 13:10 - Reading : 1 minute(s)

Nawaf Salam Lebanon Agriculture South Hezbollah

Lebanon’s Caretaker Agriculture Minister Abbas Hajj Hassan met on Monday with a delegation from the UN’s Food and Agriculture Organization (FAO), led by Ambassador Veronica Quattrola. The meeting focused on key issues concerning Lebanon’s agricultural sector, especially assessing the damage caused by Israeli bombings on agricultural ...

Fayad Says Sanctions on Petroleum and Energy Derivatives Will Be Lifted

This is Beirut 20/01 12:15 - Reading : less than a minute

Banks

Caretaker Minister of Energy Walid Fayad said on Monday that “sanctions on the trade of petroleum and energy derivatives will be lifted.” Fayad made this statement following a meeting with the US Ambassador to Lebanon, Lisa Johnson. The minister reiterated that “the funds allocated for fuel purchases were limited,” but were secured ...

Cyprus tourist arrivals topped four million in 2024

This is Beirut 20/01 11:15 - Reading : less than a minute

Nawaf Salam Europe Middle East

Cyprus tourist arrivals exceeded four million for the first time last year despite devastating wars in the nearby Middle East, official figures showed on Friday. Tourism Minister Costas Koumis called the figures a "historic achievement" with income expected to exceed three billion euros for the first time. But he warned that the island, which ...

Markets extend global rally as Trump-Xi talks boost sentiment

This is Beirut 20/01 11:10 - Reading : 3 minute(s)

Paris Donald Trump dollar Washington immigration

Most Asian markets rose Monday following a rally on Wall Street and a record-breaking day in Europe, with sentiment boosted by positive talks between Donald Trump and Chinese President Xi Jinping that soothed worries about the incoming US leader's second term. A sense of caution has permeated trading floors ahead of the tycoon's inauguration ...

Bitcoin hits record above $109,000 awaiting Trump

This is Beirut 20/01 11:05 - Reading : 2 minute(s)

Banks Donald Trump USA

Bitcoin hit a record high above $109,000 on Monday as Donald Trump, who has signalled plans to deregulate the cryptocurrency sector, prepares to be sworn in as US president. Bitcoin surged to an all-time peak of $109,241 ahead of Trump's inauguration ceremony, before falling back to around $107,500. The world's biggest cryptocurrency has soared ...

ECB Senior Official Deems Trade War With US Very Probable

This is Beirut 19/01 14:55 - Reading : 2 minute(s)

Donald Trump Trade war Europe Tariffs

A trade war with the United States “is very likely” under the presidency of Donald Trump, with negative consequences for activity and prices, warned a senior official of the European Central Bank (ECB) on Sunday. Tariffs have played “a central role in the communication of Donald Trump," who will be inaugurated president on ...