Liliane Mokbel, 26/01 17:30 - Reading : 3 minute(s)
The scandal of “electoral hiring” in the public sector is not a new phenomenon. What drives these “hunters of ghost jobs” is less the salary than the associated perks: generous bonuses, discretionary spending, allowances for occasional assignments, representation expenses, and even travel indemnities for overseas trips, often handed out ...
Christiane Tager, 25/01 15:00 - Reading : 4 minute(s)
Lebanon Economy Saudi Arabia KSA
Saudi Arabia has traditionally been a key economic partner for Lebanon. Before the 2021 decline in relations, largely driven by the Hezbollah issue, Lebanese exports to the Kingdom were substantial, particularly in agriculture, food products, textiles, and handicrafts. These exports were a vital source of foreign currency for Lebanon's economy. ...
This is Beirut, 23/01 16:25 - Reading : 4 minute(s)
US Treasury Economy Syria imports foreign trade
When Bashar al-Assad ruled Syria, merchants like Youssef Rajab kept much of their imported stock hidden for fear of arrest for breaking the law. But after an Islamist-led coalition toppled Assad in a lightning offensive last month, Rajab put previously banned foreign goods such as chocolate, biscuits and shampoo back on the shelf. Such products ...
This is Beirut, 23/01 10:35 - Reading : 3 minute(s)
Europe Germany Donald Trump Economy
Auto industry jobs have long been the lifeblood of the German town of Luedenscheid but now, a trade union official says, the sector's woes have sparked fears it will turn into an "open-air industrial museum". Insolvencies and layoffs have cast doubt on the town's future prosperity, echoing wider anxieties in Europe's biggest economy as it heads ...
This is Beirut, 15/01 21:20 - Reading : 2 minute(s)
The World Bank (WB) announced on Wednesday that “the World Bank Board of Executive Directors has approved financing of $257.8 million to improve water supply services in Greater Beirut and Mount Lebanon.” In a statement, it was indicated that “the second Greater Beirut Water Supply Project aims to complete vital water infrastructure, ...
Christiane Tager, 15/01 19:20 - Reading : 3 minute(s)
In 2023, Lebanon’s public debt reached around $100 billion, representing approximately 200% of its GDP. This makes Lebanon one of the most indebted countries in the world in relation to its economy. It ranks second behind Japan (260% of GDP) and ahead of Greece (180% of GDP), Italy (150% of GDP) and Sudan (176% of GDP). This debt results from ...
This is Beirut, 2024-12-27 13:45 - Reading : less than a minute
On Friday, the Banque du Liban (BDL) issued a circular asking banks to pay two monthly installments to beneficiaries of circulars 158 and 166, which concern exceptional bank withdrawals of fresh dollars, at the beginning of January. Depositors benefiting from Circular 158 will receive $800 in cash instead of $400, while those benefiting from ...
Maurice Matta, 2024-12-27 11:00 - Reading : 5 minute(s)
The relevant departments of the Banque du Liban (BDL) have finalized a comprehensive study on deposits and accounts held in Lebanese banks. This study distinguishes between “fresh accounts,” opened after October 17, 2019, and “dollar accounts,” which refer to legacy accounts established before that date. Commissioned by the acting ...
This is Beirut, 2024-12-16 22:25 - Reading : less than a minute
The President of the Economic Organizations and former minister, Mohammad Choucair, has called for a reconsideration of the 1991 Treaty of Fraternity, Cooperation and Coordination signed between Lebanon and Syria. This appeal was made in two letters he addressed to Parliament Speaker Nabih Berri and caretaker Prime Minister Najib Mikati. ...
This is Beirut, 2024-12-16 21:45 - Reading : 2 minute(s)
Caretaker Energy Minister Walid Fayad announced on Monday the signing of an agreement between his ministry, the oil facilities in Tripoli and Zahrani, and the Association of Lebanese Industrialists, which permits industrialists to store the diesel fuel they import in the storage tanks of the Tripoli oil facilities. According to the agreement, ...
This is Beirut, 2024-12-16 18:20 - Reading : 2 minute(s)
Economy Drugs Pharmacists Syria Lebanon
The President of the Pharmacists’ Syndicate, Joe Salloum, stated that the fall of the Syrian regime would put an end to the smuggling of medications, noting that subsidized medicines have been smuggled across border points. "With the regime's fall, the borders will be controlled, and the process of drug smuggling in both directions will come ...
Maurice Matta, 2024-12-14 16:00 - Reading : 3 minute(s)
A few days after the fall of Bashar al-Assad’s regime, the Syrian pound made a dramatic recovery against the US dollar in local markets, trading between 13,000 and 15,000 pounds per dollar. This rebound followed months of sharp devaluation, with the exchange rate previously collapsing to nearly 60,000 pounds per dollar on the black ...