ExplainerExchange Rate Stability: Lebanese Pound Withstands the Surge

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 ...

End-of-Year Celebrations Under the Shadow of War

Christiane Tager 10/01 18:10 - Reading : 2 minute(s)

Nawaf Salam Hezbollah 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 ...

Lebanese Pound Demand Surges as BDL Boosts Reserves by $120 Million

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 ...

The LBP's Exchange Rate Remains Fixed

This is Beirut 08/01 21:15 - Reading : less than a minute

Banks Central Bank of Lebanon

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 ...

ESEC Launches 'January 7 Call' to Push for the Election of a President

This is Beirut 07/01 16:10 - Reading : 2 minute(s)

USA

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 ...

NSSF Transfers LBP 27 Billion to Hospitals

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 ...

PMI Rises for the Second Month in a Row

This is Beirut 07/01 15:50 - Reading : 1 minute(s)

Nawaf Salam Banks Hezbollah

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 ...

Figure of the weekBeirut Souks Sees 62 Stores Open, Falling Short of 2024 Target

Liliane Mokbel 04/01 12:00 - Reading : less than a minute

62 stores are currently open and welcoming customers at the Beirut Souks Shopping Center. Seven of these opened in December 2024, and six more are expected to open in January. However, the total number of open stores is still just under half of the 140 originally planned for the end of 2024 – a target set before the two months of conflict.

Rising Tensions Between Hospitals and Insurers

Christiane Tager 03/01 11:10 - Reading : 2 minute(s)

Hospital Insurance Patients

A heated conflict has erupted between the Syndicate of Hospital Owners in Lebanon and the Association of Insurance Companies. The Syndicate of Hospital Owners in Lebanon, led by Sleiman Haroun, has announced that, starting February 2, 2025, hospitals will increase the rates agreed upon with insurance companies by 15%. This increase is aimed at ...

Asia stocks begin year on cautious note

This is Beirut 02/01 17:27 - Reading : 2 minute(s)

Donald Trump New York USA Washington

Asian stocks began 2025 mostly in the red on Thursday after worries about US interest rates, tariffs and China's economy gave Wall Street the holiday blues for a fourth straight session. Equities mostly had a bumper 2024 on the back of enthusiasm about artificial intelligence (AI), cuts in borrowing costs by central banks and Donald Trump's ...

Global markets rode AI, interest rate roller coaster in 2024

This is Beirut 01/01 10:45 - Reading : 4 minute(s)

France Emmanuel Macron Ukraine Paris Donald Trump

Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI), falling interest rates, and hopes of tax cuts. Here are five of the most remarkable aspects of 2024 for financial markets: Stock records fall like dominoes Wall Street's three main stock indices blew ...

220,000 Arrivals at Beirut Airport in December

This is Beirut 2024-12-30 21:30 - Reading : less than a minute

Beirut International Airport Traffic arrivals

The Director General of Civil Aviation, Fadi al-Hassan, revealed to This is Beirut that Beirut International Airport (AIB) recorded the arrival of 11,070 passengers in one day before Christmas. This is the highest number ever for the month of December and a significant record compared to previous years. Hassan reported that total arrivals to date ...