This is Beirut

Key Appointments at Banque du Liban Still Pending

Maurice Matta, 05/06 16:00 - Reading : 4 minute(s)

Banque du Liban Central Bank of Lebanon International Monetary Fund Banks Joseph Aoun

The terms of the four vice-governors of the Lebanese Central Bank (BDL) will expire on June 11, along with those of the chairman and members of the Banking Control Commission, as well as three experts on the Capital Markets Authority. In line with Article 18 of the Code of Money and Credit, the governor of BDL is appointed by decree for a ...

Lebanese Wine Industry Embraces AI for a Sustainable Future

This is Beirut, 04/06 20:25 - Reading : 1 minute(s)

Banks European Union Lebanon

In a pioneering move toward modernizing agriculture, the European Bank for Reconstruction and Development (EBRD) and the European Union held a workshop in Lebanon focused on the integration of artificial intelligence into sustainable viticulture. Organized in coordination with the Ministry of Agriculture and the National Institute of Vine and Wine ...

In Search of Lebanon’s Financial and Economic Taif Agreement

Johnny Kortbawi, 03/06 18:40 - Reading : 2 minute(s)

Banks Central Bank of Lebanon economy finance

Lebanon’s economic crisis cannot be measured solely by the six years since its visible eruption in September 2019. Its roots extend much further back—to 1992 and the first government formed after the Taif Agreement. This period marked the beginning of Lebanon’s modern economic policies, shaped by the country’s financial establishment with ...

As Fuel Prices Climb, the State Taps Your Wallet

Christiane Tager, 02/06 19:50 - Reading : 2 minute(s)

Banks

Thursday night brought a shocking surprise at the fuel station: gasoline and diesel prices surged, despite a 17% drop in global oil prices since February. Yes, you read that correctly. While prices are falling worldwide, in Lebanon, they’re climbing. This is the Lebanese exception – flammable edition. In short, a price hike running completely ...

EDL Crisis: No Power Without a Regulatory Authority

Liliane Mokbel, 30/05 13:00 - Reading : 4 minute(s)

Banks EDL Energy Power

Power plant maintenance is resuming, the local fuel market is well supplied, and electricity rationing is beginning to ease gradually. These improvements raise the prospect of an average electricity supply of twelve hours per day. Yet, without activating the Regulatory Authority – mandated by law for more than twenty years – the resolution of ...

Lebanon and World Bank Prepare Launch of Reconstruction Fund

This is Beirut, 28/05 20:55 - Reading : 2 minute(s)

Banks Los Angeles Yassin Jaber Jean-Christophe Carret World Bank

In a bid to accelerate Lebanon’s post-war recovery, Finance Minister Yassine Jaber met with Jean-Christophe Carret, the World Bank’s Regional Director, on Wednesday to discuss the imminent launch of the Lebanon Emergency Assistance Project (LEAP), a reconstruction initiative designed to channel international aid into rebuilding efforts through ...

Al-Qard al-Hassan: The Bank that Dodges Bombs but Not Audits

This is Beirut, 27/05 21:40 - Reading : 3 minute(s)

Banks Hassan Nasrallah Central Bank of Lebanon Hezbollah Israel

Al-Qard al-Hassan, a financial institution linked to Hezbollah and operating through 34 branches in areas controlled by the militia, has recently drawn attention for its role in the group’s financial operations. The Israeli think tank Alma Research and Education Center, which focuses on security issues in northern Israel, has provided ...

EDL: At the Heart of Lebanon’s Energy Crisis

Liliane Mokbel, 27/05 12:45 - Reading : 4 minute(s)

Banks Beirut International Airport EDL Energy

Electricity rationing is the rule, contrary to all logic in a nation-state framework. A quarter of a century after the end of the Civil War, the Lebanese remain dependent on alternative means of energy supply – mostly at the mercy of the neighborhood private generator supplier. Électricité du Liban (EDL) will long remain in Lebanon’s history ...

ABL Calls for a 'New Phase' Based on Shared Responsibility

This is Beirut, 26/05 12:40 - Reading : 2 minute(s)

ABL Banks Banque du Liban Fadi Khalaf

In the editorial of its monthly report titled “A New Phase on the Horizon,” the Secretary-General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, emphasized that no economic recovery plan can succeed without serious cooperation among all stakeholders. He stressed that this partnership must ensure the protection of depositors' rights ...

Lebanon Secures Spot Among Arab Billion-Dollar Companies

This is Beirut, 26/05 11:50 - Reading : 1 minute(s)

Banks Gulf Kuwait Middle East Saudi Arabia Lebanon

The Arab world’s economy is undergoing a rapid transformation, fueled by the rise of financial markets and robust growth in the technology, energy and finance sectors. According to data compiled by Forbes Middle East, more than 280 companies across the region now boast a market valuation exceeding $1 billion. At the forefront of this ...

A Power Revolution with No Current

Ryan Chaba, 24/05 10:30 - Reading : 5 minute(s)

Banks Europe Cars Lebanon

It’s a quietly growing trend. Since Lebanon’s 2021 fuel crisis, the electric vehicle market has been steadily gaining ground. Chinese electric vehicles (EVs), in particular, are spearheading the shift. Their futuristic designs are increasingly becoming common sights on Lebanon’s roads. The numbers are still small but rising. In the absence ...

Lebanon’s $4.5 Billion Price Tag: The Hidden Cost of the Syrian War

Christiane Tager, 23/05 23:00 - Reading : 3 minute(s)

Banks Syrian refugees Lebanon

Since 2011, hosting Syrian refugees has posed a severe economic challenge for Lebanon. According to the latest World Bank report, the direct annual cost of accommodating these refugees is estimated at around $4.5 billion. However, this figure only accounts for direct expenses. When indirect costs are included, the total cost rises to roughly ...