This Is Beirut 2024-01-10 19:49 - Reading : 1 minute(s)
The International Labor Organization (ILO) warned on Wednesday that global unemployment could rise in 2024, expressing concern over stagnating productivity, rising inequality and income-eroding inflation. "The global unemployment rate fell from 5.3% in 2022 to 5.1% in 2023, but an additional two million workers are expected to be looking for work ...
This Is Beirut 2024-01-10 18:10 - Reading : 1 minute(s)
In an information note published on Wednesday, the Central Bank (BDL) appealed to market makers who wish to operate on its new Bloomberg-managed foreign exchange platform to contact the company directly. In this context, BDL has invited banks that wish to take part in the new platform's activity and that have not yet integrated the Bloomberg FX ...
This Is Beirut 2024-01-10 17:51 - Reading : 2 minute(s)
Lebanon's state-run electricity company, Electricité du Liban (EDL), has announced a gradual increase in power supply, stressing, however, the need to take preventive measures to avoid having the fuel shortage problem be repeated in mid-February. In a press release issued on Wednesday, the public electricity supplier indicated that it was able ...
This Is Beirut 2024-01-09 21:41 - Reading : 1 minute(s)
As part of the digital transformation project initiated by the Ministry of Economy and Trade, 18 administrative procedures under the Ministry's responsibility will be digitized by the end of March, and all formalities will be dematerialized during 2024. The caretaker Minister of Economy and Trade, Amin Salam, announced on his X account (formerly ...
This Is Beirut 2024-01-08 17:35 - Reading : less than a minute
The caretaker Finance Minister, Youssef Khalil, on Monday handed over to the chairman of the parliamentary Finance and Budget Committee, Ibrahim Kanaan, the lists detailing the Treasury advances granted between 2020 and 2023 and the donations made to Lebanon between 2018 and 2023. The committee had requested these lists during the sessions ...
This Is Beirut 2024-01-08 17:31 - Reading : less than a minute
The head of the union of workers and distributors in the gas sector, Farid Zainoun, called on caretaker Energy Minister Walid Fayad on Monday to "revive the decision taken in 2015 to replace domestic gas cylinders," noting that "displaced Syrians have brought in almost 1.5 million defective cylinders from Syria.” Zainoun pointed out that ...
Liliane Mokbel 2024-01-07 11:42 - Reading : 2 minute(s)
Lebanon ranked third in 2023 for diaspora fund transfers in the Middle East and North Africa (MENA) region. Egypt led with transfers totaling $24.2 billion, followed by Morocco at $12.1 billion. Nevertheless, Lebanon surpassed the West Bank ($4.9 billion) and the Gaza Strip ($3.8 billion). As officially recorded, funds sent to Lebanon amounted to ...
2024-01-06 12:44 - Reading : less than a minute
The global prices of food products recorded a decrease of 13.7% in 2023, compared to the previous year, marked by a surge attributed to the war in Ukraine, the Food and Agriculture Organization of the United Nations (FAO) reported on Friday. The FAO Food Price Index, which tracks the monthly fluctuations in the prices of a range of essential ...
This Is Beirut 2024-01-05 21:45 - Reading : 1 minute(s)
Private sector transportation allowances will rise from LBP 250,000 to LBP 450,000 per working day, on a par with those allocated to civil servants. This was announced on Friday by Mohammad Choucair, on behalf of the economic organizations, and Bechara al-Asmar, President of the General Confederation of Lebanese Workers (GCLW). The two parties ...
2024-01-05 21:31 - Reading : 2 minute(s)
Two Lebanese leaders are part of the Top 100 CEOs in the MENA region, as listed by the American economic magazine Forbes Middle East. In its third annual edition of the "100 Best CEOs," Forbes Middle East ranked two Lebanese individuals, Carlos Wakim and Joe Kawkabani, at the 77th and 91st positions, respectively. Carlos Wakim, a ...
This Is Beirut 2024-01-05 21:18 - Reading : less than a minute
Wassim Mansouri, Acting Governor of the Central Bank (BDL), said on Friday that banking relations with the United Arab Emirates (UAE) would be maintained in their current form. "There have been no modifications or changes," he said in a statement issued in response to rumors that circulated, on Thursday, in some media and on social networks that ...
Liliane Mokbel 2024-01-05 12:47 - Reading : 4 minute(s)
Lebanon’s Central Bank (BDL) announced in a statement on Thursday the suspension of "seigniorage," or procedure of assessing the profit or loss made on producing a currency, and the commencement of collaborative efforts with the International Monetary Fund (IMF) to review its Safeguards Assessment methodology. When approached by This is Beirut ...