2024-05-23 14:07 - Reading : 2 minute(s)
The recent mission report from the International Monetary Fund (IMF) concluded that Lebanon’s economy and population are still heavily burdened by the lack of action on “essential” economic reforms. This situation has been further exacerbated by the negative impacts of the war in Gaza, conflicts on Lebanon’s southern border, and the ...
Nicolas Sbeih 2024-05-23 12:35 - Reading : 4 minute(s)
In societies, it is customary to find two categories of people or entities: builders and destroyers. Generally, this distinction tends to be nuanced and subject to debate. But not in our case. Here, everything is clear. There is a category that we take pride in when we see them inaugurate a hotel, a factory, or a business — essentially creating ...
This Is Beirut 2024-05-22 23:49 - Reading : 2 minute(s)
"Because things have become clear, we need to move towards a final agreement", said Ernesto Ramirez Rigo, head of the International Monetary Fund (IMF) mission to Lebanon, at the end of his meeting on Wednesday in Beirut with the Economic bodies, chaired by Mohamad Choucair. However, he did not give any further explanation of what seems clear, in ...
Liliane Mokbel 2024-05-22 20:18 - Reading : 3 minute(s)
Since the beginning of the year, record spikes in the prices of gold, and more recently, silver, have been making headlines. The prices of both gold and silver are closely correlated, influenced by shared macroeconomic conditions and currency risk hedging strategies. 5% Profits But in the current context, the price of silver seems to be rising ...
2024-05-21 20:10 - Reading : less than a minute
Economic organizations explored investment opportunities in Senegal during a meeting on Tuesday, chaired by Former Minister Mohammad Choucair. The event was attended by the Senegalese Ambassador to Lebanon, Kemoko Diakite, Consul Zaher Makhader, and a group of union leaders and businesspeople interested in fostering economic cooperation with ...
This Is Beirut 2024-05-20 17:35 - Reading : less than a minute
Caretaker Minister of Finance Youssef Khalil announced on Monday a decision extending, until June 21, the deadline for filing tax stamp duty declarations and paying invoices and prepaid cards issued by cell phone operators and electronic communications companies (Internet).
Maurice Matta 2024-05-20 12:20 - Reading : 6 minute(s)
The official exchange rate of 89,500 Lebanese pounds to one US dollar is recognized by the Lebanese Central Bank (BDL) as the unified exchange rate, which banks are required to use when drafting their financial statements and periodic reports. This rate aligns with the parallel market exchange rate. BDL’s Acting Governor, Wassim Mansouri, keeps ...
This Is Beirut 2024-05-18 14:17 - Reading : 1 minute(s)
The CMA CGM Foundation (a French shipping giant) and the Lebanese Red Cross (LRC) have signed a partnership agreement with the aim of providing 50% of the fuel required to operate ambulances throughout the country in the first half of the current year. “Since February 2004, the fuel supply of 285 Lebanese Red Cross ambulances has been guaranteed ...
2024-05-17 19:01 - Reading : 4 minute(s)
The tourism sector in Lebanon accounted for 30% of the gross domestic product (GDP) in 2023, with revenues reaching $6 billion. These figures will most likely be difficult to achieve this year, if the ongoing war in Gaza and its repercussions in southern Lebanon persist. In 2023, revenues generated by the tourism sector – $6 billion – ...
Nadia Hallak 2024-05-17 15:16 - Reading : 5 minute(s)
Caretaker Minister of Finance Youssef Khalil affirmed the Ministry's commitment to delivering the 2025 budget within its Constitutional deadline. However, this has sparked significant controversy among citizens, particularly as the budget items will primarily rely on imposing additional taxes to cover the Lebanese State's expenses. This pattern ...
Nicolas Sbeih 2024-05-15 19:07 - Reading : 4 minute(s)
If you are accustomed to supermarket visits, you've likely observed a shift in the variety of products available in recent years. Shelves are now brimming with numerous brands that were nonexistent until recently. This is because importers and retailers have frequently had to turn to new supply sources to adapt to our new situation of ...
This Is Beirut 2024-05-14 13:35 - Reading : 1 minute(s)
Chairman and CEO of the Habitat Bank (BDH) Antoine Habib announced on Tuesday that starting June 1, the BDH will provide loans to rehabilitate housing for people with disabilities. Habib met the President of the National Society for the Rights of Persons with Disabilities, Nawaf Kabbara, and discussed with him BDH’s new project, which involves ...