This is Beirut - Economy

Lebanon’s Tourism: The Endless Summer That Fails to Deliver

Christiane Tager, 19/06 23:00 - Reading : 2 minute(s)

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Since June 13, the travel sector in the Middle East has faced severe turbulence following clashes between Iran and Israel. And as always, Lebanon — true to its role as the region’s perennial bystander in the wrong place at the wrong time — ends up paying the price, once again caught in the center of the storm. “The sector has suffered ...

Syria Resumes SWIFT Transfers for First Time Since 2011

This is Beirut, 19/06 16:30 - Reading : less than a minute

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For the first time since the outbreak of the Syrian civil war in 2011, Syria has completed an international bank transfer via the SWIFT system – a symbolic step toward reintegration into the global financial network. The announcement came on Thursday from Central Bank Governor Abdelkader Husrieh, who revealed in an interview with Reuters that ...

Raids at Casino du Liban and OMT: Sweeping Out Parallel Financing Networks

Tara B. Moussallem , 19/06 16:10 - Reading : 3 minute(s)

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It was an operation that took everyone by surprise and deserves to be loudly applauded: Lebanese security forces, in coordination with financial judiciary authorities, carried out raids yesterday at Casino du Liban—seizing computers and servers—and at a branch of OMT, a money transfer company. This is a rare assertion of authority in a country ...

Economy on Hold: Lebanon Trapped in Other People's War

Christiane Tager, 18/06 20:55 - Reading : 3 minute(s)

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With regional tensions mounting, Lebanon’s economy teeters between stagnation and potential collapse. Nassib Ghobril, Chief Economist at Byblos Bank, tells This is Beirut that the conflict’s primary consequence is widespread instability, discouraging investment, slowing trade, and deterring tourism. The looming threat of war—particularly ...

Strait of Hormuz: Is Iran Ready to Gamble with Global Energy Stability?

Liliane Mokbel, 15/06 14:40 - Reading : 2 minute(s)

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As the Middle East flares up amid mounting tensions between Iran and Israel, one urgent question dominates global attention: Is Tehran ready to close the Strait of Hormuz, a crucial lifeline for the world’s energy supply? On Friday night, Emmanuel Macron sounded a stark warning. In a statement, the French president cautioned, “We must brace ...

Drought: When the Sky Turns Its Back on the Earth

Christiane Tager, 14/06 15:30 - Reading : 3 minute(s)

Lebanon agriculture Economy

Beirut recorded less than 350 mm of rainfall between November and March—well below the annual average of 800 mm—making the winter of 2024-2025 one of the driest in the last 20 years, according to official data. In the Beqaa, a vital agricultural hub, precipitation fell by over 45% compared to the seasonal average. This severe drop disrupted ...

LBP 44.2 Million for a Basic Food Basket

Liliane Mokbel, 14/06 12:00 - Reading : less than a minute

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According to the World Food Program, the survival food basket has reached LBP 44.2 million, or around $492, an increase of $42 since January. That's how much it now costs for a family of five to cover its basic food needs for a month in Lebanon. This basket, which includes rice, wheat, pulses, oil, sugar, salt and sardines, represents the bare ...

Syria: The New Battleground for Influence and Investment

Liliane Mokbel, 12/06 12:00 - Reading : 3 minute(s)

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The international community appears determined to reintegrate Syria both economically and politically after decades of isolation. This momentum stands in stark contrast to neighboring Lebanon, which fears that Syria’s reconstruction will monopolize international attention, pushing its own geopolitical and economic challenges into the ...

Lebanon’s Public Debt Exceeds $100 Billion

This is Beirut, 11/06 15:40 - Reading : less than a minute

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According to official statistics and reports from several local banks, Lebanon's public debt has exceeded the $100 billion mark. This historic level reflects years of accumulated budget deficits, inefficient public management, poor financial governance and a lack of structural reforms. This debt includes both domestic and external debt incurred ...

Lebanon Meets the IMF: An Exercise in Masochism

This is Beirut, 11/06 11:40 - Reading : 4 minute(s)

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The latest round of kabuki theater between Lebanon’s government and the IMF has produced what all such high-level summits inevitably do: a mixture of forced smiles, indecipherable jargon, and the vague scent of scorched-earth diplomacy. It also revealed something everyone in the room knew but no one had the courage—or funding—to fix: Lebanon ...

Mullahs Inc.: Inside Iran’s Shadow Banking Network

Mario Chartouni, 10/06 11:40 - Reading : 3 minute(s)

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With nuclear talks stalled, Washington has opened a new front in its standoff with Tehran: financial warfare. On Friday, the United States imposed sanctions on more than 30 individuals and entities tied to a sprawling money-laundering network that covertly funnels funds to the Iranian regime. This clandestine financial system — a covert, ...

Gold in Uncertain Times: Jewelry vs. Bullion

Liliane Mokbel, 07/06 15:30 - Reading : 2 minute(s)

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In times of crisis, gold stands as the ultimate pillar of stability. Timeless, reassuring and resistant to passing trends, it shines brighter as financial markets falter. But a critical question remains: which form of gold offers better protection in turbulent times — jewelry or bullion? And is resale truly profitable? Historically, when ...

Economy