This Is Beirut 2024-07-04 15:19 - Reading : 2 minute(s)
London's stock market and the pound advanced versus the dollar Thursday as Britons voted in a general election expected to be won by the centre-left and main opposition Labour party. Eurozone stocks also pushed higher amid political manoeuvring to try and block the far-right National Rally (RN) of Marine Le Pen from gaining power in France's ...
Nicolas Sbeih 2024-07-04 11:00 - Reading : 5 minute(s)
Few bankers get the chance to speak freely in the media, as this is frowned upon. They're seldom invited to debates, and if they are, it's only to be bombarded with a well-prepared barrage of acidic slurs. In fact, we have been hearing the same tirades for the past five years, with each critic thinking they've made a groundbreaking ...
Liliane Mokbel 2024-07-03 19:09 - Reading : 3 minute(s)
The commission tasked with drafting proposals to amend the Monetary and Credit Code (CMC) presented its project to Caretaker Prime Minister Najib Mikati on Monday after eleven months of rigorous effort. However, there is still a lengthy process ahead before the amendments become effective. The proposed text must first be examined by parliamentary ...
This Is Beirut 2024-07-03 12:58 - Reading : less than a minute
Caretaker Minister of Telecommunications Johnny Corm revealed on Wednesday in an interview with the Voice of Lebanon that China has provided financial assistance estimated at $40 million to the Lebanese state. The Ministry of Telecommunications is seeking to benefit from a portion of this amount. He further explained that his ministry had ...
This Is Beirut 2024-07-02 20:29 - Reading : less than a minute
Beirut International Airport (BIA) recorded its highest passenger and flight traffic since the start of the year in June. However, the figure remains below that recorded in June 2023, with a slight annual decline of around 0.25%. According to figures released by BIA, 707,201 departing and arriving passengers passed through the airport, compared ...
2024-07-02 12:16 - Reading : 3 minute(s)
For several weeks, rumors have been spreading about a significant increase in the price of the “rabta”of bread (bundle in Arabic), causing concern. Most Lebanese rely heavily on bread as a staple food, due to the economic crisis. What is the truth behind these rumors? This is Beirut takes a closer look. For the past few weeks, rumors have ...
This Is Beirut 2024-07-01 12:35 - Reading : 1 minute(s)
The euro rose and Paris equities surged Monday on signs France's far right would not win enough seats for an overall majority in legislative elections. The single currency had come under pressure in recent weeks on worries Marine Le Pen's National Rally (RN) would storm to victory and push through big-spending policies that could put the country ...
Maurice Matta 2024-07-01 11:00 - Reading : 4 minute(s)
Some call it schizophrenia, others call it adaptation to reality, while some describe it as economic resistance. However, regardless of the term, what Lebanon, which has suffered from an economic and financial crisis characterized by the World Bank as one of the most severe crises globally since the mid-19th century, is experiencing, bears many ...
Liliane Mokbel 2024-06-30 11:00 - Reading : 3 minute(s)
Medical care costs are experiencing significant inflation. Major private insurers in the Lebanese market, contacted by This is Beirut, have indicated that their health insurance premiums will increase by about 10% starting July 1st. The decision to raise health insurance premiums comes in a market that has been declining for several ...
Nicolas Sbeih 2024-06-27 21:30 - Reading : 3 minute(s)
"They are everywhere, they buy everything, they show up with wads of cash in Ashrafieh and Metn, in Batroun, where they acquire luxury items, apartments, land and stores." An invasion so extensive that some mayors have established administrative barriers. "They" are the Shia, and the above statements reflect popular convictions, lacking verified ...
2024-06-27 18:11 - Reading : less than a minute
Daily workers at Lebanon’s electricity company, Electricité du Liban (EDL), warned the management of the public electricity supplier that it had until Friday to implement the new contract stipulating wage adjustments proportionate to the high cost of living, threatening to escalate protests. In a statement, the EDL day workers explained that ...
This Is Beirut 2024-06-27 14:11 - Reading : 1 minute(s)
Banque Du Liban (BDL) announced on Thursday that it would be extending the effects of Circulars 158 and 166. In a communique, the financial institution stated that the Central Council, which met on Wednesday, decided to extend the validity of Circulars 158 and 166 for one year, with the possibility of renewal, effective starting July 1, ...