This Is Beirut 2024-07-15 11:18 - Reading : 4 minute(s)
China posted lower than expected growth in the second quarter on Monday, with all eyes on how top officials gathering for a key meeting in Beijing might seek to tackle the country's deepening economic malaise. The world's second-largest economy is grappling with a real estate debt crisis, weakening consumption and an aging population. Trade ...
Liliane Mokbel 2024-07-14 11:44 - Reading : 4 minute(s)
The retirement age for public sector employees is set to be raised to 68 for many reasons, and lawmakers are moving forward to make this happen. Two bills have been put forward to implement this change. One comes from the Democratic Gathering bloc, and the other by three MPs from the Change Coalition, namely Waddah Sadek, Michel Doueihy and Marc ...
2024-07-13 13:33 - Reading : 3 minute(s)
Tensions between Lebanon and Iraq are intensifying due to Lebanon's failure to fulfill its financial obligations under the diesel supply agreement for Electricité du Liban. Lebanese authorities, including the caretaker prime minister, the ministry of energy, and the ministry of finance, have been perceived as expecting Iraq to provide fuel ...
2024-07-12 20:52 - Reading : 5 minute(s)
The Lebanese are now accustomed to seeing the threat of a total blackout reemerge occasionally, often accompanied by the threat of the shutdown of vital public facilities. This situation was narrowly avoided on Thursday thanks to the intervention of the Iraqi Prime Minister, who authorized the unloading of fuel before Lebanon paid the amounts due. ...
This Is Beirut 2024-07-11 10:05 - Reading : 2 minute(s)
Caretaker Minister of Energy Walid Fayad announced in a press release that he had "received a call from the Oil Marketing Company’s (SOMO) General Manager and the Iraqi Ministry of Petroleum. They informed him of Iraqi Prime Minister Mohammad Al-Sudani’s approval and his authorizing the unloading of diesel fuel at the Zahrani and Deir Ammar ...
Nicolas Sbeih 2024-07-11 09:45 - Reading : 4 minute(s)
After delving into the topic of banks, let's assess the current state of their regulatory body, Lebanon’s Central Bank (BDL). Overall, the outcome is somewhat meager. However, we will refrain from preempting conclusions before outlining the pros and cons of this interim governorship, now in its one-year tenure. We will partially rely on ...
This Is Beirut 2024-07-10 18:57 - Reading : 1 minute(s)
The Caretaker Minister of Public Works and Transport, Ali Hamiyeh, launched the operation plan for 96 public transport buses during a press conference on Wednesday. The plan includes specific routes for Beirut initially and will extend to the rest of the country's regions by September. After inspecting several vehicles and reviewing their ...
This Is Beirut 2024-07-10 18:53 - Reading : less than a minute
The general assembly of the Association of Banks in Lebanon (ABL), scheduled for Wednesday, was postponed due to a lack of quorum. According to the Al-Markazia news agency, a banking source indicated that the current mandate of the association's board of directors has not yet expired. Therefore, the board will continue to perform its duties until ...
This Is Beirut 2024-07-10 18:43 - Reading : less than a minute
The Federation of Bakery Unions of Lebanon met on Wednesday under the chairmanship of Nasser Srour, with Antoine Seif, the President of the Union of Bread Manufacturers, in attendance. The meeting primarily focused on the upcoming end of the wheat subsidy and the development of a plan to regulate market competition post-subsidy. Notably, the $150 ...
Maurice Matta 2024-07-09 14:10 - Reading : 4 minute(s)
The Association of Banks in Lebanon (ABL) is preparing to elect its new board of directors next Wednesday. Consensus has historically shaped the outcome of each election, and this year's electoral process is equally critical, mirroring the importance of the two previous ones, given the precise circumstances, ongoing presidential vacancy, financial ...
This Is Beirut 2024-07-08 17:22 - Reading : 4 minute(s)
Electricité du Liban (EDL) announced on Monday that it is taking preventive measures to avoid a blackout until it receives the second portion of diesel allocated for June 2024. In a press release, the public supplier explained that it had to resort to these measures to extend the period of energy production for citizens and maintain a continuous ...
2024-07-08 13:45 - Reading : 1 minute(s)
Over the past three years, 1,300 industrial licenses have been granted in all sectors in Lebanon. This was stated on Monday by caretaker Minister of Industry George Bouchikian, who assured that the Lebanese industry is doing well, and that today, the industry sector represents 37 to 41% of the gross domestic product (GDP). Bouchikian believes ...