This Is Beirut 2024-07-25 19:05 - Reading : 1 minute(s)
The Civil Servants' Union has once again taken a stand on Thursday, demanding a readjustment of salaries and threatening a work stoppage. In a statement, the union called on "the government to fulfill its promises and to advance a project for a fair and equitable salary readjustment that takes into account inflation and the cost of living, while ...
This Is Beirut 2024-07-25 18:30 - Reading : 1 minute(s)
European aviation giant Airbus announced Thursday that Saudi low-cost carrier Flynas has signed a deal to buy 75 single-aisle A320neo jets and 15 long-haul A330-900 planes. The planes have a catalogue price totaling $13 billion, though big orders usually have significant discounts. The two sides signed a memorandum of understanding at the UK's ...
This Is Beirut 2024-07-25 11:50 - Reading : 2 minute(s)
Banque de l'Habitat (BDH) began accepting applications for housing loans at the beginning of June. According to initial figures, BDH had received 23,483 applications by July 22. Of these, 5,200 applications have been filled, and 2,515 people have completed the required electronic procedures before moving on to the second phase. BDH plans to ...
Nicolas Sbeih 2024-07-25 10:01 - Reading : 5 minute(s)
It all starts with this fundamental question: what conditions would make the presence of a President economically favorable? Then, what type of President? Under specific circumstances, could it be more convenient to keep this position vacant? Two years after the power vacuum, the turmoil surrounding the presidential election is ongoing. ...
This Is Beirut 2024-07-24 13:18 - Reading : 1 minute(s)
The credit rating agency, Fitch Ratings, has maintained Lebanon's rating at “restricted default” (RD) on its long-term foreign currency public debt, as a result of the default on the Eurobonds due March 9, 2020. On Tuesday, the American International Financial Rating Agency maintained Lebanon's rating at RD, indicating Lebanon’s ongoing ...
Mario Chartouni 2024-07-23 16:00 - Reading : 4 minute(s)
Financial jargon is filled with terms borrowed from English that can seem complex at first glance. One such term is “commodities,” which refers to raw materials (RMs) traded as financial instruments on the stock market. Alternatively, if you have ample storage space, it can also mean physical goods. The aim here is to closely examine this type ...
Maurice Matta 2024-07-23 11:46 - Reading : 3 minute(s)
Since August 1, 2023, Lebanon’s Central Bank (BDL) liquid foreign currency reserves have steadily increased from $8.573 billion to $9.9 billion by June 2024, marking an average monthly growth of $120 million under the new leadership. This development occurs under Lebanon's Central Bank policy of not financing the government with currencies, ...
This Is Beirut 2024-07-22 17:59 - Reading : 1 minute(s)
Secretary General of the Association of Banks in Lebanon (ABL) Fadi Khalaf said, in the preamble of the association's monthly report titled “The return of loans will contribute to the recovery of deposits,” that restoring the banking sector's normal role, particularly in the field of credit, is essential to getting the Lebanese economy moving ...
This Is Beirut 2024-07-22 16:59 - Reading : less than a minute
The Central Administration of Statistics (CAS) reported on Monday that the consumer price index in Lebanon for the month of June 2024 recorded an increase of 0.28% compared with May 2024. A very moderate increase compared with the leaps recorded during the months of 2023, such as 33.27% in March and 5.35% in May. Moreover, the index rose by ...
This Is Beirut 2024-07-21 12:37 - Reading : 1 minute(s)
Iraq said on Sunday that a new power line will bring electricity from Turkey to its northern provinces as authorities aim to diversify the country's energy sources to ease chronic power outages. The 115-kilometre (71-mile) line connects to the Kisik power station west of Mosul and will provide 300 megawatts from Turkey to Iraq's northern ...
This Is Beirut 2024-07-19 19:16 - Reading : 1 minute(s)
Caretaker Prime Minister Najib Mikati, on Friday, sponsored the launch of the “Plan for the Development of the Fishing and Aquaculture Sector” by the Agriculture Ministry, at the Grand Serail. The ceremony was attended by several ministers, including Agriculture Minister Abbas Al Hajj Hassan, and a number of ambassadors, heads of diplomatic ...
This Is Beirut 2024-07-19 18:53 - Reading : less than a minute
The Association of Lebanese Industrialists, represented by its president, Salim Zeenni, and the Beirut Port Management and Investment Committee, represented by Beirut Port General Manager, Omar Itani, signed a memorandum of understanding on Friday, aiming to develop a cooperation framework between the two parties to support the industry and ...