This is Beirut

Lebanon: A Laboratory for a Pharmaceutical Industry in Full Transformation

Makram Haddad, 02/07 09:00 - Reading : 5 minute(s)

Lebanon has always played a central role in the health field in the Middle East. A land of renowned hospitals, foreign-trained doctors, Gulf patients and proven pharmaceutical know-how, the 1990s saw the return in force of multinational drug companies, firmly established in a country relying on imports as a guarantee of quality in a liberal ...

Running Low? Unleaded to the Rescue

Christiane Tager, 04/06 21:35 - Reading : 4 minute(s)

Lebanon Crisis Fuel prices Private sector

The Lebanese government seems to be taking its cue from an old maxim: “When in trouble, raise the taxes.” In a decision that hit like a bombshell, authorities announced a sharp hike in fuel prices – despite a global drop in oil costs. The official rationale? To fund social aid. The logic? Ease the burden on the poor by adding to the strain ...

Kulluna “Hood”: Breaking the Rules, But Defending Whom?

Tara B. Moussallem , 04/06 10:30 - Reading : 3 minute(s)

Lebanon Kulluna Irada Crisis

Once upon a time, there was a man named Robin Hood. A popular hero of English folklore, he stole from the rich to give to the poor… only to end up betrayed by his own. Since then, many have dreamed of becoming justice warriors. But between legend and reality, the myth quickly crumbles. In Lebanon, amidst economic and social collapse, Kulluna ...

Will Beirut’s Last Green Spaces Be Saved?

Vanessa Kallas, 31/05 15:50 - Reading : less than a minute

Lebanon Green Spaces Crisis Government Climate change

Long vital to the city’s health and identity, Beirut’s public green spaces are disappearing. As Beirut’s parks are swallowed by concrete, environmental advocates warn of rising heat, pollution and social decline. The new government faces a pivotal choice: preserve what’s left or accept irreversible loss.

Syria: Hours of Waiting… for a Few Dollars

This is Beirut, 18/04 19:08 - Reading : less than a minute

Damascus Syria crisis liquidity dollars

In Damascus, lines stretch in front of ATMs. Amid a severe liquidity crisis, Syrians sometimes wait for hours to withdraw the equivalent of 20 dollars a day. This is daily life in a country where 90% of the population lives below the poverty line.

Lebanon Faces Severe Trade Deficit and Economic Imbalance

Liliane Mokbel, 05/04 12:00 - Reading : less than a minute

lebanon crisis imports GDP deficit

Lebanon's trade deficit in 2024 reached $14.2 billion, accounting for approximately 50% of the country's GDP. This level, one of the highest in the world, is alarming and reflects the magnitude of the country's economic imbalances. According to statistics from the Higher Council of Customs, imports declined by 3.5%, totaling $16.9 billion, while ...

Lebanon's Price Surge – 4.9% Rise in Dollars, 5970% in Lebanese Pounds (2019-2024)

Liliane Mokbel, 2024-12-28 12:00 - Reading : less than a minute

Banks prices inflation crisis world bank

In Lebanon, prices in dollars rose by 4.9% between September 2019 and September 2024, according to the World Bank. Meanwhile, the Central Directorate of Statistics reports a staggering 5970% increase in prices in Lebanese pounds over the same period.

France's Unprecedented Political and Institutional Crisis

Ali A. Hamadé, 2024-12-06 18:20 - Reading : 8 minute(s)

Emmanuel Macron France Government crisis

Since Wednesday, France has been experiencing its most severe political and institutional crisis in over six decades. For the first time since 1962, a motion of censure passed in the National Assembly resulted in the resignation of Prime Minister Michel Barnier. President Emmanuel Macron, who “acknowledged” the gravity of the ...

Scholz Says Open to Discussions on Election Date

This is Beirut, 2024-11-08 18:45 - Reading : 4 minute(s)

Scholz Germany crisis elections

German Chancellor Olaf Scholz, mired in crisis after his three-party coalition collapsed this week, said Friday he is open to talks on whether to move forward snap elections. The embattled chancellor has signalled new polls by March, half a year earlier than scheduled, but all opposition parties have urgently demanded they be held as early as ...

Finance Ministry Announces Exceptional Facilitative Measures for Baalbek-Hermel and Nabatieh

This is Beirut, 2024-10-17 14:40 - Reading : 1 minute(s)

Finances Lebanon war crisis

Due to the ongoing war, the Finance Ministry announced on Thursday a series of “exceptional measures to facilitate the completion of transactions for citizens under the supervision of the Regional Fiscal Authority in Nabatieh and Baalbek Al-Hermel governorates.” The ministry stated that residents of Nabatieh and Baalbek-Hermel can submit ...

Figures Outlining Impact of War on Economy

2024-10-09 19:51 - Reading : 1 minute(s)

lebanon crisis war prices food

Nabil Fahed, president of the Supermarket Owners’ Union, revealed that the non-essential commercial sector, meaning non-food-related businesses, is operating at only 5% of its pre-war capacity, experiencing a 95% drop. Additionally, it is facing various challenges, according to him. The closure of the Masnaa border crossing, which connects to ...

Economic Consequences of the Hezbollah-Israel Conflict

2024-10-08 16:15 - Reading : 6 minute(s)

USA war Lebanon crisis

This conflict will inflict particularly harsh consequences on the Lebanese economy in both the short and medium term. Already struggling with a dire economic crisis, Lebanon may experience further deterioration, characterized by rising inflation and increasing unemployment. The heightened tensions have also created a climate of uncertainty that ...

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