2023-12-17 12:10 - Reading : 5 minute(s)
An IMF report emphasized the "urgent need" to reform customs and tax services in Lebanon following years of mismanagement and the country's crisis since 2019. This has resulted in a significant drop in public treasury revenues, decreasing from 21% of the GDP in 2019 to 6.3% in 2022. In response to a Capacity Development (CD) assistance request ...
Liliane Mokbel 2023-12-15 19:55 - Reading : 3 minute(s)
Solidere recorded losses of $11.1 million in 2022, compared to $21.5 million in 2021. However, its stock price remains stable on the Beirut Stock Exchange. According to the audited financial report, losses of the Lebanese Company for the Development and Reconstruction of Beirut Central District (Solidere) decreased in 2022 by $10.4 million, ...
This Is Beirut 2023-12-14 22:14 - Reading : 1 minute(s)
The National Social Security Fund (CNSS) transferred on Thursday an additional 102 billion pounds for the treatment of dialysis patients. CNSS announced, in a statement, that its Director General, Mohammad Karaki, has instructed the relevant financial departments to transfer an additional 102 billion Lebanese pounds for the treatment of dialysis ...
This Is Beirut 2023-12-13 22:41 - Reading : less than a minute
One of the leading US rating agencies, Moody's, says "Lebanon's rating remains C," while changing the outlook to "stable," according to Reuters. In its report, Moody's explains that "Lebanon's stable outlook reflects its expectation that the rating will remain C for the foreseeable future." It believes, however, that "the continuing political ...
This Is Beirut 2023-12-13 21:11 - Reading : 2 minute(s)
The Parliamentary Finance and Budget Committee, led by MP Ibrahim Kanaan, met on Thursday to continue reviewing the 2024 fiscal year budget proposal. This budget, approved by the Council of Ministers on September 12, was discussed in the presence of the Caretaker Minister of Finance, Youssef Khalil, and the Minister of Interior, Bassam Mawlawi. ...
This Is Beirut 2023-12-13 20:25 - Reading : 1 minute(s)
Electricité du Liban (EDL) has implemented preventive measures until the anticipated delivery of the allocated diesel cargo for December 2023, aiming to prevent a potential blackout. In an official statement, the public supplier outlined the necessity of these measures to extend the energy production period, ensuring an uninterrupted power ...
Liliane Mokbel 2023-12-13 20:21 - Reading : 3 minute(s)
New 100,000 Lebanese pound banknotes have been in circulation since December 1, 2023. There's no need to panic, as this is a purely technical measure. However, what about the 500,000 and 1,000,000 Lebanese pound banknotes? Irrespective of the purpose behind printing higher-value banknotes than those currently in circulation, such a measure ...
This Is Beirut 2023-12-13 19:52 - Reading : less than a minute
The employees of the telephone operator Touch have organized a sit-in in front of the company’s building in Bachoura. The initiative was the result of a call by the syndicate of Alfa and Touch employees to protest against “arbitrary decisions” taken by the President of the Board of Directors at Touch. The president of the syndicate, Nabil ...
Nicolas Sbeih 2023-12-13 19:44 - Reading : 4 minute(s)
Nadine Labaki, in her eponymous film, found the answer while we are still struggling. Suppose, which is possible, that the situation does not improve for a while, with a gradual disappearance of the state and its services, a government handicapped without a president, and a Hezbollah that is malfunctioning and proliferating. What should be done ...
This Is Beirut 2023-12-12 16:35 - Reading : 1 minute(s)
Caretaker Energy Minister Walid Fayad met with Iraqi Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Swad on the sidelines of the 12th Arab Energy Conference in Doha. The latter announced Iraq's readiness to sign a contract for the supply of crude oil to Lebanon in early 2024. This step will increase the ...
Johnny Kortbawi 2023-12-12 13:33 - Reading : 4 minute(s)
Any household provider or anyone overseeing day-to-day expenses can fully comprehend that addressing the financial deficit requires either reducing expenditures or increasing revenues. Unfortunately, the Lebanese government, overshadowed by some of its members’ arrogance and defiance, erroneously believes that the budget that was drafted can be ...
This Is Beirut 2023-12-08 19:25 - Reading : 3 minute(s)
Eleven Lebanese banks have initiated legal action by asking the Ministry of Finance to compel the government to repay its debts to the Central Bank (BDL). The purpose of this action is to enable the banks to fulfill their commitments to depositors. One of the lawyers representing the group of eleven banks, barrister Elie Chamoun, explained the ...