Ici Beyrouth - Economy

Revaluation of Inventories and Fixed Assets: A Strategic Advantage for Businesses

Liliane Mokbel, 02/12 19:30 - Reading : 3 minute(s)

Economy Industry Commerce Parliament Lebanon

Industrial and commercial business owners are celebrating a major victory. Last Thursday, Parliament passed in a plenary session the bill amending Article 45 of Decree-Law No. 144 of June 12, 1959 (the Income Tax Law). This amendment grants "exceptional authorization" to income taxpayers, allowing them to revalue their inventories and real estate ...

Exit from Gray List: Banks' Compliance and Government Action

Maurice Matta, 30/11 09:00 - Reading : 5 minute(s)

Lebanon Banks Economy

On October 25, Lebanon was officially placed on the gray list of the Financial Action Task Force (FATF), subjecting the country to enhanced monitoring. The FATF report highlighted ongoing vulnerabilities in Lebanon’s efforts to strengthen measures against money laundering and terrorism financing. A key point in the report was FATF’s ...

Hajj Hassan: Aerial Study With FAO Reveals 70% Devastation in Agricultural Sector

This is Beirut, 22/11 11:25 - Reading : 1 minute(s)

Economy Agriculture Lebanon

Caretaker Minister of Agriculture Abbas Hajj Hassan highlighted the extensive damage to Lebanon's agricultural sector, estimated at around 70%, based on an aerial study conducted in collaboration with the Food and Agriculture Organization (FAO) to assess the losses. He emphasized that Israeli bombardments have caused significant destruction, ...

Assessment of Infrastructure Damage: A Collaboration Between the Government and the World Bank

Liliane Mokbel, 20/11 18:00 - Reading : 2 minute(s)

Economy World Bank

Even before rebuilding residential and commercial units, priority will be given to restoring infrastructure as soon as hostilities end. This step is crucial to reestablishing the normal functioning of the social and economic fabric within any community. In this context, the caretaker government led by Najib Mikati, with the support of the World ...

Freight Insurance: The Impact of War on Prices

Christiane Tager, 20/11 10:00 - Reading : 2 minute(s)

Economy Lebanon War

Due to the ongoing war between Hezbollah and Israel, freight insurance premiums have surged, adding further pressure on Lebanese trade and, consequently, on consumers. Armed conflicts significantly increase the risks associated with maritime and land transport. Ships and cargo can be targeted or suffer collateral damage from hostilities. ...

Battling for Survival: Lebanon’s Tourism Sector Amid War and Crisis

Maurice Matta, 20/11 09:00 - Reading : 5 minute(s)

Lebanon Economy Tourism Restaurants

Before the war, 60 airlines flew to Beirut; only Middle East Airlines remains today. Flights that once operated at 80-90% capacity now barely reach 20%, especially during peak seasons like Christmas and New Year. Travel to Lebanon has decreased by 80% compared to previous years, largely due to the ongoing conflict. The tourism sector, one of the ...

In the Wake of War: How Conflict Is Shaping Consumer Choices in Lebanon

Liliane Mokbel, 17/11 19:15 - Reading : 2 minute(s)

Hezbollah Israel economy consumption displaced

Many Lebanese have begun purchasing fruits and vegetables individually, a practice rarely seen in a culture that traditionally favors buying by the kilo. Grocery baskets have shrunk in both quantity and variety. Testimonies from mothers gathered by This is Beirut reveal a shift toward prioritizing legumes, which are more affordable than meat, ...

World Bank: Damages and Losses in Lebanon Conflict Estimated at $8.5 Billion

This Is Beirut, 14/11 17:15 - Reading : 2 minute(s)

World Bank Lebanon Economy conflict losses

The World Bank has published on Thursday an initial assessment report of the impact of conflict on Lebanon’s Economy and Key Sectors. According to a new World Bank report, the cost of physical damages and economic losses due to the conflict in Lebanon is estimated at USD 8.5 billion. The Lebanon Interim Damage and Loss Assessment (DaLA) finds ...

Thirty-Two Lebanese Institutions at SIAL

This is Beirut, 20/10 14:10 - Reading : less than a minute

Economy Paris SIAL Lebanon

The 60th edition of SIAL (International Food Exhibition) opened in Paris on Saturday and will run until October 23. Despite Lebanon's challenging circumstances, 32 Lebanese agro-industrial institutions are participating, with 18 represented at the Lebanese pavilion. The caretaker Minister of Industry, Georges Bouchikian, inaugurated the pavilion ...

Fayad: $440 Million in Damage to Water and Energy Sectors

This is Beirut, 19/10 13:10 - Reading : less than a minute

Economy

Caretaker Energy Minister Walid Fayad stated on Saturday that the damage caused by Israeli airstrikes on Lebanon is estimated at nearly $440 million in the water and energy sectors, while the losses in the services, education, and health sectors amount to billions of dollars. He specified that the damage to electricity and water networks alone ...

Al-Qard Al-Hassan: Is Hezbollah's 'Bank' in Jeopardy? (2/2)

Maurice Matta, 16/10 08:30 - Reading : 8 minute(s)

Economy Al Qard Al Hassan Hezbollah Lebanon

Many legal experts agree on the idea that "the Al-Qard Al-Hasan Association is a loophole in Lebanese law." The change in terminology does not alter the legal nature, which means that it is, in essence, a bank under legal reality and cannot be considered a non-profit charity organization, as it identifies itself. Specific circulars about Al-Qard ...

Strike by Civil Servants in Three Ministries

This Is Beirut, 21/02 14:36 - Reading : 1 minute(s)

Civil Servants economy

Civil servants from the Ministries of Labor, Economy and Information will be on strike starting Wednesday in support of their wage demands. They are protesting against the fact that they have been excluded from the allowances that the government plans to grant to certain categories of civil servants. A delegation from the syndicate representing ...