This is Beirut

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 ...

EDL Crisis: No Power Without a Regulatory Authority

Liliane Mokbel, 25/05 12:00 - 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 ...

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 ...

$257.8 Million for Water!

This is Beirut, 23/05 19:25 - Reading : 1 minute(s)

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Minister of Finance Yassine Jaber, in the presence of Minister of Energy and Water Joe Saddi, signed a $257.8 million loan agreement with World Bank Regional Director Jean-Christophe Carret for the Greater Beirut Water Supply Project. The financing is aimed at improving water coverage for 1.8 million people, reducing dependence on costly private ...

BDL Issues Statement on Legal Measures and Financial Transparency

This Is Beirut, 22/05 15:20 - Reading : 2 minute(s)

Banks Banque du Liban Central Bank of Lebanon Finances Parliament Lebanon

Lebanon’s Central Bank (BDL) announced in an official statement that it remains committed to transparency and integrity within the financial sector. It is actively pursuing legal procedures in collaboration with specialized law firms across several European countries and other international jurisdictions. This effort aims to initiate judicial ...

New and Simple Ways to Use Bitcoin

Christiane Tager, 21/05 20:45 - Reading : 3 minute(s)

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Let’s dive into the world of Bitcoin – a digital currency that is transforming global finance. Bitcoin (BTC) is much more than just a cryptocurrency: it is a decentralized currency, without a central bank or intermediaries, based on blockchain technology – a public and secure ledger. In other words, it’s money that never sleeps, doesn’t ...

Will Banking Reforms Spark a Crisis Between Souhaid and Salam?

Maurice Matta, 21/05 20:10 - Reading : 4 minute(s)

Lebanon Economy Banks Karim Souhaid Nawaf Salam

It seems that the relationship between Banque du Liban (BDL) Governor Karim Souhaid and Prime Minister Nawaf Salam is far from ideal. In fact, it can be described as tense – a situation that didn’t arise recently but dates back to Souhaid’s appointment as Governor of the Central Bank, which was secured through a majority vote in the ...

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