This Is Beirut 2024-08-13 16:54 - Reading : 1 minute(s)
US credit rating agency Fitch has downgraded Israel a notch, warning that its ongoing conflict against Hamas in Gaza could last "well into 2025" and weigh on economic activity. Fitch lowered Israel's rating from "A+" to "A." "The conflict in Gaza could last well into 2025 and there are risks of it broadening to other fronts," Fitch said in a ...
This Is Beirut 2024-08-13 16:40 - Reading : 1 minute(s)
Tony Ramy, President of the Syndicate of Owners of Restaurants, Cafes, Night-Clubs & Pastries in Lebanon, published a press release on Tuesday, in which he explains the situation in the restaurant sector following the security escalations and the risk of a full-scale war. This analysis is based on a numerical comparison between July 2023 and ...
Liliane Mokbel 2024-08-13 13:52 - Reading : 2 minute(s)
JP Morgan experts believe that gold and silver are the most promising metals of the year, forecasting that the price of silver will soon surpass $30. While the price of an ounce of silver recently hit a high of $30, a level not seen since 2013, it still hasn't reached its historic peak of $50, recorded in 1980. Deciding between investing in gold ...
This Is Beirut 2024-08-12 18:37 - Reading : less than a minute
Insurance brokers will now be able to deposit the required bank guarantee with the Banque de l'Habitat (BDH) instead of with a commercial bank. The financial institution will be able to issue insurance guarantees on behalf of the Ministry of the Economy, authorizing insurance brokers and representatives to carry out their functions under a ...
This Is Beirut 2024-08-12 18:03 - Reading : less than a minute
The Electricité du Liban (EDL) employees' union officially announced on Monday the suspension of the strike, the resumption of activities, and the commitment of workers and employees to respect the institution's official working hours starting tomorrow, Tuesday, August 13. The Ministry of Finance has agreed, following discussions and meetings, ...
This Is Beirut 2024-08-12 18:01 - Reading : less than a minute
Public truck owners at the Port of Beirut went on the offensive on Monday, calling on the relevant authorities to find a new system to avoid the now-weekly work stoppages at the Port of Beirut. In a statement, they claim that the plot against the Port of Beirut is continuing so that the system breaks down every week and, as a result, the work of ...
This Is Beirut 2024-08-12 14:16 - Reading : 1 minute(s)
Global stock markets regained some confidence on Monday, at the start of a week marked by various releases on the American economy. The Paris stock exchange rose slightly by 0.24% on Monday morning, starting the week cautiously awaiting the publication of key indicators on the state of the US economy and insights into American and Chinese consumer ...
Liliane Mokbel 2024-08-10 10:00 - Reading : 2 minute(s)
The Qlayaat René Mouawad Airport is not intended to compete with Beirut Rafic Hariri International Airport. Its purpose is to address urgent needs in security, logistics, and economic development. The rehabilitation of Qlayaat René Mouawad Airport is contingent upon the approval of the Minister of Public Works and Transport, Ali Hamiyeh, who ...
This Is Beirut 2024-08-09 16:13 - Reading : less than a minute
The Director General of the National Social Security Fund (NSSF/CNSS), Mohammad Karaki, asked the competent financial services to transfer LBP 131 billion to hospitals. This amount is intended to cover the treatment costs of dialysis patients. This sum is in addition to the amounts already paid for these treatments, bringing the total to LBP 800 ...
This Is Beirut 2024-08-09 16:04 - Reading : 1 minute(s)
The Electricité du Liban (EDL) employees' union announced on Wednesday that the warning strike, which began last Wednesday, will continue beyond Monday, August 12. During this period, no bills will be issued. Only maintenance services, employees at the main relay stations and the coordination department will continue to operate. In a press ...
2024-08-09 12:28 - Reading : 2 minute(s)
According to Lebanon’s consolidated commercial banks’ balance sheet, total assets declined annually by 10.4% to stand at $104.32B by June 2024 amid BDL’s adoption of a new exchange rate of LBP 89,500 per USD, effective 31/01/2024. On the assets side, currency and deposits with the Central Bank represented a high figure of 78.38% of total ...
2024-08-09 10:21 - Reading : less than a minute
As a result of the raging war in southern Lebanon, the losses in the tourism sector amount to more than 3 billion dollars, according to an initial estimate. The Secretary General of Lebanon's tourism institutions, Jean Beyrouthi, has stated that "the decline in the hotel sector is very significant, as the occupancy rate has fallen to less than ...