Economy

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"Made in Lebanon" from May 9th to the 14th

Caretaker Minister of Industry, George Bouchikian, announced at a press conference on Friday that the "Made in Lebanon" exhibition will be held from May 9 to 14 at the Forum de Beyrouth. Sponsored by the Ministry of Industry and the Industrialists' Association, it will occupy 12,000 m² and feature 250 stands. In a speech, Bouchikian revealed ...

Red Sea: Shipping Insurance Rates Soar Due to Houthi Attacks
Red Sea: Shipping Insurance Rates Soar Due to Houthi Attacks

The Houthis' attacks on commercial ships in the Red Sea exacerbated uncertainty in the region, raising costs on firms and prompting risk premiums and freight rates to soar. Insurance providers can henceforth demand an extra war premium, but for a limited amount of time. Attacks by the Houthis on commercial ships in the Red Sea sent insurance ...

Public Sector: From Strikes to Scandals
Public Sector: From Strikes to Scandals

For the past few days, employees from various ministries have been alternating in announcing strikes to protest discrimination among civil servants. While some are entitled to or expected to receive special allowances, others are not. Caretaker Prime Minister Najib Mikati has called for a freeze on the allocation of these funds. What is it all ...

Hamieh Announces Agreement With World Meteorological Organization
Hamieh Announces Agreement With World Meteorological Organization

Caretaker Minister of Public Works and Transport Ali Hamieh discussed with the Secretary-General of the World Meteorological Organization (WMO), Celeste Saulo, the prospects for developing cooperation between Lebanon and the WMO, on the sidelines of his participation in the United Nations Economic Commission for Europe Conference. Lebanon is ...

Ministry of Telecommunications: No Increase in Postal Rates
Ministry of Telecommunications: No Increase in Postal Rates

The Ministry of Telecommunications has denied reports of an increase in postal rates. In a statement, it asserted that it has not decided to increase postal rates and that any changes in this context are subject to approval by the Council of Ministers and the State Council. The Ministry pointed out that as soon as the 2024 budget was published ...

The Fabulous Destiny of Recovery Plans
The Fabulous Destiny of Recovery Plans

The suspenseful series of "crisis exit plans" is continuing with great success on the government's encrypted channel, maintaining the same theme but varying in style and appellation. Over the past four years, we've had about 10 plans labeled "recovery," "rescue," "restructuring"... But in reality, these plans more closely resembled, in the ...

Suspension of Budget Items: What Are the Consequences?
Suspension of Budget Items: What Are the Consequences?

The Constitutional Council (CC) suspended on Monday the application of five articles of the budget law for fiscal year 2024, following an invalidation appeal lodged by the Lebanese Forces (LF). What does this mean in practical terms, and what are the consequences of this decision? The Constitutional Council (CC) suspended on Monday the ...

Finance: Stamp-Printing Machines Made Available in Several Regions
Finance: Stamp-Printing Machines Made Available in Several Regions

Iskandar Al-Hallak, Director of Treasury at the Ministry of Finance, announced in a press release on Wednesday that, in accordance with a decision taken by caretaker Minister of Finance Youssef Khalil, the department made tax stamp-printing machines available at treasuries in various regions. The assigned official must use the stamp printing ...

In 2024, an Expected 9.8% Unemployment Rate in Arab Countries
In 2024, an Expected 9.8% Unemployment Rate in Arab Countries

A report by the International Labor Organization (ILO) highlights the stagnation of the labor market in the Arab world, which lags behind the economic recovery. It recommends concerted efforts to enhance diversification and create employment opportunities in more flexible sectors. The report indicates that "the unemployment rate in the region is ...

Lebanon Set to Receive UN Emergency Fund
Lebanon Set to Receive UN Emergency Fund

The United Nations announced on Tuesday that they will allocate $100 million to support humanitarian crises in seven different countries, including Lebanon. In addition to Lebanon, the Democratic Republic of Congo, Sudan, Syria, Chad, Niger, and Honduras will benefit from this assistance, which comes from the United Nations Central Emergency ...

Payment Deadlines for Certain Taxes Extended
Payment Deadlines for Certain Taxes Extended

Caretaker Minister of Finance Youssef Khalil announced on Tuesday a decision to extend payment deadlines for certain taxes to spare taxpayers from incurring late payment fines. The deadline for filing the annual income tax return, salaries and wages (R5), individual annual statements (R6), and the annual global statement (R7) for the years 2022 ...

Electricity Company Serves Last Warning for Payment to Public Sector
Electricity Company Serves Last Warning for Payment to Public Sector

Lebanon’s electricity company, Électricité du Liban (EDL) reiterated its warning to public administrations, public institutions, water boards and individuals operating on behalf of the public sector, in the various regions of Lebanon, to pay their electricity bills (old and new), in cash (Lebanese pounds), by February 29. The public ...