This is Beirut

Washington Suspends Iranian Electricity Imports to Iraq: What Are the Consequences?

Élie-Joe Kamel, 10/03 22:30 - Reading : 3 minute(s)

Washington Donald Trump Banks Hamas Hezbollah

A significant blow to Iran came on March 8, when the United States decided not to renew the waiver that allowed Iraq to import electricity from Iran, despite sanctions imposed on Tehran. Since 2018, Baghdad had benefited from this exemption, which covered nearly a third of its energy needs, despite the country’s considerable oil potential, which ...

Nawaf Salam: 'We Have to Succeed, or the Situation Will Deteriorate Further'

This is Beirut, 10/03 22:15 - Reading : 2 minute(s)

Banks Lebanon Nawaf Salam

Prime Minister Nawaf Salam emphasized on Monday evening that a new phase was on the horizon for Lebanon. He stressed the need for the government “to preserve the trust granted to it by both MPs and citizens, which requires daily effort on its part.” The Prime Minister made these remarks during the iftar reception organized on Monday evening ...

World Bank says Lebanon needs $11 bn for post-war reconstruction

This is Beirut, 07/03 15:25 - Reading : 1 minute(s)

Banks Hezbollah Israel USA

The World Bank on Friday estimated Lebanon's recovery and reconstruction costs at $11 billion following the war between Israel and Hezbollah, which ended with a ceasefire last November. "Reconstruction and recovery needs following the conflict that affected Lebanon are estimated at US$11 billion," the World Bank said in a report assessing damage ...

BDL’s Gold: An Untouchable Treasure or a Last Resort?

Liliane Mokbel, 05/03 19:10 - Reading : 3 minute(s)

Banks Central Bank of Lebanon Gold Reserves Lebanon

Following the government’s policy statement and the president’s inaugural speech, it is clear that a new momentum is emerging to address the pending economic issues. Controversial proposals are emerging, notably the idea of using Lebanon's Central Bank gold reserves (BDL) to partially bridge the financial deficit. However, it is evident that ...

Partition of Syria, the 'David Corridor'… What’s Really at Stake?

Élie-Joe Kamel, 04/03 17:10 - Reading : 5 minute(s)

Benjamin Netanyahu Banks Damascus Gulf Hezbollah

Since the fall of Bashar al-Assad’s regime, Israel has ramped up its operations in Syria, seemingly seeking to assert itself as the dominant player against Turkey, which is trying to fill the vacuum left by Iran’s retreat. It has carried out strikes on military positions of the former regime and pro-Iranian militias, expanded its presence in ...

82% of Lebanon's 2024-2025 Budgets Allocated to Public Sector Operational Costs

Liliane Mokbel, 01/03 12:00 - Reading : less than a minute

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According to Labora, a Lebanese NGO focused on reducing unemployment, 82% of the 2024 Finance Law and the 2025 budget proposal are allocated to cover the public sector's operational costs. This exceeds the World Bank's 30% threshold, beyond which it refuses to finance budgets, as it views such high spending as a risk of public fund mismanagement ...

World Bank Commits $250 Million to Lebanon’s $1 Billion Fund

This is Beirut, 28/02 17:25 - Reading : 2 minute(s)

Banks World Bank Lebanon Yassine Jaber

The World Bank (WB) has allocated $250 million toward Lebanon’s recovery, as confirmed by Ousmane Dione, the WB Vice President for the Middle East and North Africa, following a meeting with Finance Minister Yassine Jaber on Friday. Dione further emphasized the aim to secure an additional $250 million by partnering with a group of international ...

Banksy in Belgrade: A Battle Over the Soul of Street Art

This is Beirut, 28/02 10:00 - Reading : 2 minute(s)

Banks Los Angeles West Bank

Belgrade has become the stage for a clash over Banksy’s artistic legacy, as two rival exhibitions have ignited debate on the commercialization of street art. While one offers a curated multimedia experience featuring authenticated works, the other challenges the commodification of an artist whose ethos rejects profit-driven art. Banksy, the ...

Stock Markets Rally with Tech in Focus

This is Beirut, 26/02 15:45 - Reading : 3 minute(s)

Donald Trump Banks Europe New York United States

Asian and European stock markets rallied Wednesday, helped by renewed positivity over the tech sector, analysts said. Hong Kong closed up more than three percent, with investors snapping up stocks following a poor start to the week sparked by fresh concerns over US President Donald Trump's tariff plans. In Europe, Paris and Frankfurt led the ...

Ukraine's Reconstruction Needs Surpass $500 Billion

This is Beirut, 25/02 14:55 - Reading : 1 minute(s)

Banks European Union Ukraine United Nations

Ukraine will need over $500 billion to repair the damage resulting from the Russian invasion, which has entered its fourth year, according to a joint assessment published Tuesday. "The total cost of reconstruction and recovery in Ukraine is $524 billion over the next decade," said a statement published by Ukraine, the World Bank Group, the ...

Decline in Commercial Activity According to Beirut Traders Association – Fransabank Index

This is Beirut, 24/02 14:20 - Reading : 2 minute(s)

Banks Beirut International Airport Central Bank of Lebanon Index

The Beirut Traders Association – Fransabank Retail Trade Index for the fourth quarter of 2024 (Q4-2024) recorded a value of 31.37, indicating a modest recovery in commercial activity, accompanied by cautious optimism about short-term improvements. In contrast, the index for the third quarter of 2024 had reached 35.06, reflecting a continued ...

After the Withdrawal Limit Increase: What About BDL Reserves?

Christiane Tager, 20/02 22:30 - Reading : 2 minute(s)

Lebanon Economy Banks Central Bank

In a highly anticipated move, Lebanon’s Central Bank (BDL) announced on Wednesday an increase in the withdrawal limits for Circulars 158 and 166, raising them to $500 and $250 per month, respectively, effective March 1. While the decision was welcomed by depositors, it has sparked concerns over its cost and potential impact on BDL’s reserves ...

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