This is Beirut

All Eyes on the Ministry of Finance

Natasha Metni Torbey, 27/01 22:00 - Reading : 4 minute(s)

Amal Banks Central Bank of Lebanon Hezbollah International Monetary Fund

The exception is not the rule. This saying does not apply to Lebanon, where for over a decade, well after the signing of the Taif Agreement in 1989, the Amal-Hezbollah duo has persistently claimed—“de facto and de jure,” as they often assert—the Ministry of Finance, one of the most coveted portfolios in the country. The reasons behind ...

Aoun: The Deposit Issue Calls for Coordinated Efforts

This is Beirut, 27/01 13:40 - Reading : less than a minute

ABL Banks Joseph Aoun

The President of the Republic, Joseph Aoun, emphasized that resolving the issue of deposits requires “coordinated efforts.” He made these comments during a discussion with a delegation from the Association of Banks in Lebanon (ABL), led by its president, Salim Sfeir. President Aoun stated that “resolving the banking crisis requires ...

Gaza: The Truce Enters Its Second Week After The Release Of Israeli Hostages And Palestinian Detainees

This is Beirut, 26/01 05:35 - Reading : 4 minute(s)

Palestine Benjamin Netanyahu Banks Fatah Hamas

A fragile truce aimed at ending the war in the Gaza Strip entered its second week on Sunday, the day after the release of four Israeli hostages and some 200 Palestinian prisoners, greeted by scenes of joy on both sides. In a sign of the difficulties in implementing the ceasefire agreement between Israel and Hamas, a last-minute dispute on ...

New Exchange Expected On Saturday Between Israeli Hostages In Gaza And Palestinian Detainees

This is Beirut, 25/01 06:05 - Reading : 4 minute(s)

Palestine Benjamin Netanyahu Banks Hamas Israel

On Saturday, Hamas is due to free four Israeli soldiers, held hostage in Gaza since 7 October 2023, in exchange for several dozen Palestinians detained in Israel, in the second exchange of this type under the truce agreement in the Gaza Strip. Nearly a week after the ceasefire came into force, which was generally respected, the Palestinian ...

Eurozone business activity rebounds in January

This is Beirut, 24/01 15:25 - Reading : 2 minute(s)

Banks

Business activity in the eurozone bounced back in January after a two-month contraction, as the pace of decline eased in the manufacturing sector, a closely watched survey showed Friday. The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global registered a figure of 50.2 for the single-currency area, after 49.6 in ...

Heavy Gunfire And Explosions On The Second Day Of The Israeli Operation In The West Bank

This is Beirut, 23/01 04:35 - Reading : 4 minute(s)

Banks West Bank Benjamin Netanyahu Hamas

The town of Jenin in the occupied West Bank was under heavy fire and explosions on Wednesday, the second day of Israel's ‘Iron Wall’ operation, launched just after the start of the truce in Gaza between Israel and Hamas. ‘The situation is very difficult. The occupying army has bulldozed all the roads leading to Jenin camp and the ...

UN Chief Praises Trump's 'large Contribution' to Gaza Ceasefire

This is Beirut, 22/01 15:40 - Reading : 2 minute(s)

Donald Trump Palestine United Nations Ceasefire Banks

United Nations chief Antonio Guterres on Wednesday hailed Donald Trump's diplomatic efforts to help secure a truce in the Gaza Strip following 15 months of war. "I will praise the United States, Qatar and Turkey for their efforts for months and months and months to obtain the release of hostages, also to obtain the ceasefire," Guterres said at ...

Is It Possible to Return Syrian Bank Deposits?

Liliane Mokbel, 21/01 19:10 - Reading : 3 minute(s)

Banks Central Bank of Lebanon Depositors Syrians

During a visit to Syria in early January, caretaker Prime Minister Najib Mikati was met with a striking demand from the country’s new ruler, Ahmad al-Sharaa: the restitution of Syrian deposits held in Lebanese banks. While the request might appear justified on the surface, it lacks clarity and a solid legal foundation, according to a legal ...

Fayad Says Sanctions on Petroleum and Energy Derivatives Will Be Lifted

This is Beirut, 20/01 12:15 - Reading : less than a minute

Banks

Caretaker Minister of Energy Walid Fayad said on Monday that “sanctions on the trade of petroleum and energy derivatives will be lifted.” Fayad made this statement following a meeting with the US Ambassador to Lebanon, Lisa Johnson. The minister reiterated that “the funds allocated for fuel purchases were limited,” but were secured ...

Bitcoin hits record above $109,000 awaiting Trump

This is Beirut, 20/01 11:05 - Reading : 2 minute(s)

Banks Donald Trump USA

Bitcoin hit a record high above $109,000 on Monday as Donald Trump, who has signalled plans to deregulate the cryptocurrency sector, prepares to be sworn in as US president. Bitcoin surged to an all-time peak of $109,241 ahead of Trump's inauguration ceremony, before falling back to around $107,500. The world's biggest cryptocurrency has soared ...

World Bank Sees Slow and Steady Global Growth

This is Beirut, 17/01 12:40 - Reading : 2 minute(s)

Banks Covid-19 Europe Middle East World Bank

Global growth should remain stable this year and next, but at recent historic lows, the World Bank said Thursday, expressing particular concern about growth in developing countries. Growth should hit 2.7 percent in 2025 and 2026, in line with the level reached last year, the World Bank announced in a new report, adding that inflation and interest ...

Fayad: Additional Hours of Electricity to Be Provided Soon

This is Beirut, 16/01 17:05 - Reading : less than a minute

Banks USA

Caretaker Energy Minister Walid Fayad announced that the Zouk and Jiyeh power plants are set to resume operations next week, a move expected to boost Lebanon’s electricity generation capacity to 800 megawatts. In a press statement issued on Thursday, Fayad noted that this increase would provide an additional two hours of electricity per day, ...

banks