This is Beirut 2024-12-10 22:40 - Reading : 3 minute(s)
According to the latest World Bank (WB) report on Lebanon’s economy (LEM), published on Tuesday, Lebanon’s real GDP growth was reduced by approximately 6.6% in 2024 due to the conflict between Hezbollah and Israel, bringing the cumulative decline in real GDP since 2019 to over 38%. This growing contraction reflects the devastating impact of ...
Liliane Mokbel 2024-12-10 16:30 - Reading : 2 minute(s)
Syria Reconstruction Caesar Act
According to estimates from various UN and international sources, Syria's reconstruction could yield benefits for all. However, these prospects remain uncertain and far from guaranteed. With the country still reeling from the war that followed the 2011 uprising, Syria's reconstruction is shaping up to be a lengthy and costly process, but it ...
Liliane Mokbel 2024-12-08 13:10 - Reading : 2 minute(s)
Following the collapse of Bashar al-Assad's regime, Syria is left with a crumbling economy, shaped by decades of state control and average wages barely surpassing $40 per month. The country’s economic prospects now depend largely on the removal of American and Western sanctions, as well as financial assistance from the international community. ...
This is Beirut 2024-12-07 14:05 - Reading : 1 minute(s)
The Nasdaq and the S&P hit fresh records on Friday after the November US jobs report came in better than expected, with the Dow edging down. The world's biggest economy gained 227,000 jobs in November, up from a revised 36,000 in October, according to the Department of Labor. "It's kind of being viewed as a Goldilocks jobs print," Tom Cahill ...
Liliane Mokbel 2024-12-07 12:00 - Reading : less than a minute
The hotel occupancy rate in Beirut has fallen below 10%, while in other regions, it is approaching 0%, according to Pierre Achkar, president of the Union of Syndicates of Tourist Establishments in Lebanon. "Arab countries continue to boycott Lebanon, and European nations do not anticipate a swift return of their citizens. A mandatory waiting ...
This is Beirut 2024-12-07 10:00 - Reading : 1 minute(s)
Lebanon Economy Reconstruction
This is probably the reality Lebanon will have to face. With the end of the war, the countdown has begun, including an assessment of damages estimated at $6 billion and the initiation of reconstruction. The productive and economic sectors will have the opportunity for a significant recovery, starting with the laying of the cornerstone on the site ...
This is Beirut 2024-12-06 20:35 - Reading : 1 minute(s)
The Establishment of The Water of Beirut and Mount Lebanon (EBML) has urged its subscribers to settle their fees for the current year (2024). Payments can be made at water office branches or through the Online Money Transfer SAL (OMT) service. Bank card payments are accepted at the water office branches. However, the EBML noted that, due to ...
This is Beirut 2024-12-06 20:25 - Reading : 2 minute(s)
Lebanon's telecommunications sector has suffered significant damage due to Israeli bombings, with initial estimates placing the losses at $117 million. This was revealed by the caretaker Minister of Telecommunications, Johnny Corm, in an interview with Sputnik. Corm explained that the estimated figures range between $88 million and $117 million, ...
Liliane Mokbel 2024-12-06 18:45 - Reading : 3 minute(s)
Central Bank of Lebanon Dollar Bills Counterfeit
Are counterfeit dollar bills circulating in the market? If so, it's clear that this issue is not limited to Lebanon but also affects other global markets. However, the Lebanese are particularly sensitive to it due to the country's economic crisis, which has left the cash economy in a fragile state, all amid a "neither peace nor war" situation ...
Christiane Tager 2024-12-06 13:50 - Reading : 2 minute(s)
Year-end festivities in Lebanon are expected to unfold in a gloomy atmosphere, driven by regional instability and the conflict between Hezbollah and Israel. The war has cast a shadow over the country, where tension is still palpable. Despite the challenges and lingering echoes of war in southern Lebanon and in Syria, the Lebanese are holding on ...
This is Beirut 2024-12-06 10:40 - Reading : 2 minute(s)
Banks Turkey United Kingdom United States
The World Bank announced Thursday that it had raised close to $24 billion to provide loans and grants for some of the world's poorest nations, which it can leverage to generate a record $100 billion in total spending power. Donor countries committed $23.7 billion to replenish the bank's concessional lending arm, known as the International ...
This is Beirut 2024-12-05 17:05 - Reading : less than a minute
According to the flight schedule in and out of Beirut International Airport (BIA), 14 Arab and international airlines will resume flights to Beirut soon. In case the ceasefire deal between Israel and Hezbollah is upheld, some have made the decision to start flying again to Beirut before December 15. Following are the main Arab and international ...