This Is Beirut 2024-09-27 09:38 - Reading : less than a minute
The Ministry of Finance announced that the Departments of Expenditure and Treasury, with the combined efforts of employees, have transferred all salaries of public sector employees and all military corps, as well as the pensions of military and civilian pensioners, to the Central Bank. Beneficiaries will be able to withdraw their salaries from ...
Liliane Mokbel 2024-09-26 20:20 - Reading : 2 minute(s)
In the aftermath of an absurd war, presented as support for Gaza, the Banque du Liban (BDL) and the Lebanese government have once again been compelled to rely on palliative solutions in the absence of more radical alternatives. In a memo signed by BDL Acting Governor Wassim Mansouri, banks have been instructed to provide beneficiaries of ...
Hala Abdallah 2024-09-26 15:09 - Reading : less than a minute
Since the conflict in Lebanon escalated, some businesses have reportedly inflated prices and caused shortages. Here's how you can report to the Ministry of Economy and help stop price manipulation.
This Is Beirut 2024-09-25 17:16 - Reading : less than a minute
Interim Governor of Lebanon's Central Bank, (BDL) Wassim Mansouri issued a statement on Wednesday in which he announced his decsion to ask commercial banks to make a one-off exceptional payment of three monthly installments to the beneficiaries of circulars 158 and 166 at the beginning of October. Circular 158 authorizes beneficiaries to withdraw ...
2024-09-25 16:40 - Reading : 3 minute(s)
The fear of shortages of all kinds has caught up with the entire Lebanese population amid the intensification of Israeli strikes and the widening conflict between Israel and Hezbollah. On Monday, people began rushing to gas stations, bakeries, supermarkets, and pharmacies. However, the presidents of various unions, as well as the Ministry of ...
Liliane Mokbel 2024-09-25 15:24 - Reading : 3 minute(s)
The transmission effect or exchange rate pass-through reflects the impact of currency depreciation on price levels, particularly their elasticity, driven mainly by changes in the prices of imported goods and services. This is especially relevant for Lebanon, which experienced a historic currency devaluation from 2020 to 2023, with its ...
This Is Beirut 2024-09-24 12:39 - Reading : 1 minute(s)
As bombardments intensify in Lebanon, there’s a growing fear among the population about the potential disconnection from global communication networks if they were to be compromised. This concern is well-founded, considering there are no backup systems in place. In an interview with This is Beirut, Johnny Corm, the caretaker Minister of ...
2024-09-23 19:10 - Reading : less than a minute
With the deterioration of the situation in Lebanon and the intensification of bombardments, citizens fear shortages of all kinds, especially of fuel, as the Lebanese cannot forget the summer of 2021 and its gasoline shortages. On Monday afternoon, queues formed outside several gas stations. But there's no reason to panic just yet, as gasoline and ...
2024-09-23 16:32 - Reading : less than a minute
The press office of caretaker Minister of Telecommunications Johnny Corm, confirmed in a statement that no violation of the official communication network by Israel has occurred. The messages received by Lebanese citizens in several regions on Monday are fraudulent operations conducted via electronic applications that do not require advanced ...
This Is Beirut 2024-09-23 15:15 - Reading : 1 minute(s)
In his editorial for the Association of Banks in Lebanon (ABL), titled “The Biggest Challenge: Maintaining Exchange Rate Stability and Financial Communication in Times of War,” Secretary General Fadi Khalaf emphasized the immense challenge faced by Lebanon’s banking sector amidst the ongoing conflict with Israel. Khalaf underscored the ...
Liliane Mokbel 2024-09-23 12:39 - Reading : 3 minute(s)
The surge in gold prices has substantially benefited the Banque du Liban (BDL), resulting in a considerable increase in the value of its gold reserves. An auditing firm, appointed by BDL’s commissioner for Foreign Affairs with the coordination of the International Monetary Fund (IMF), conducted an inventory on November 24, 2022, which ...
This Is Beirut 2024-09-21 21:29 - Reading : 2 minute(s)
The acts of war Lebanon has witnessed ince October 2023, which have intensified over the last three days, have dashed hopes for even modest economic growth. Growth forecasts, initially estimated at 2% for 2023 and 3% for 2024, have been significantly revised. In an interview with the al-Markazia news agency, economist Nassib Ghobril spoke of a ...