This is Beirut - economy

Fuel Prices Drop in Lebanon After Tax Removal Ruling

This is Beirut, 18/07 12:00 - Reading : less than a minute

Lebanon Fuel Prices Tax Economy motorists

Fuel prices in Lebanon dropped significantly on Friday following the removal of a previously imposed tax. The measure, recently announced by the authorities, comes amid a challenging economic climate marked by persistent currency fluctuations and mounting pressure on consumers’ purchasing power. The decision had an immediate effect, causing a ...

Lebanon-Cyprus Maritime Border Talks Reach Critical Stage

Bassam Abou Zeid, 18/07 09:30 - Reading : 3 minute(s)

Cyprus Lebanon Syria Oil economy exploration gas maritime borders

Lebanon’s push to revive oil and gas exploration in its Exclusive Economic Zone remains stuck in limbo. Political gridlock and regional volatility have stalled progress, and even French energy giant TotalEnergies – holder of the license for Block 9 – has yet to take any operational steps or issue public statements. The only current movement ...

Crisis and Creativity: How Lebanese Brands Are Carving Out Their Place

Liliane Mokbel, 17/07 14:50 - Reading : 4 minute(s)

Lebanon Economy Entrepreneurs Exports New brands Franchise

Faced with soaring import costs and an ongoing multifaceted crisis, Lebanese entrepreneurs have shown remarkable ingenuity. Paradoxically, the country’s challenges have acted as a catalyst, pushing many in the private sector to create their own commercial brands. In a local market hungry for revitalization, particularly following the gradual ...

Government Finalizes Financial Appointments, Names Mazen Soueid as Head of the Banking Control Commission

Maurice Matta, 11/07 19:45 - Reading : 5 minute(s)

Lebanon Banks Banque du Liban Economy

At midnight between Monday and Tuesday, June 9, the terms of the four vice governors of the Central Bank of Lebanon (BDL) expired: Wassim Mansouri, Bachir Yaqzan, Salim Chahine, and Alexander Mouradian, along with the mandate of the president and members of the Banking Control Commission and three members appointed as experts to the Capital ...

Finance Minister Reveals Details of Lebanon’s Upcoming Visit to Iraq

This is Beirut, 11/07 19:05 - Reading : 1 minute(s)

Yassine Jaber Lebanon Economy Iraq

Finance Minister Yassine Jaber revealed important details on Friday regarding the planned Lebanese ministerial visit to Baghdad. During a meeting with Iraq’s Chargé d’Affaires Mohammad Reda al-Husseini, Jaber revealed that the visit, originally scheduled for last month, had been postponed. The visit will address sensitive bilateral issues, ...

EU 'Locked and Loaded' to Conclude Trade Deal with US

This is Beirut, 11/07 15:05 - Reading : 1 minute(s)

European Union USA Economy Tariff Trade

The EU said Friday it was ready to strike a deal with Washington to avoid swingeing tariffs, after US President Donald Trump sowed doubt over reaching an accord. "We remain on our side fully locked and loaded to conclude an agreement with the US," EU trade spokesman Olof Gill told reporters. "Let's see what happens when our friends in Washington ...

MEA Goes Low-Cost: Launch Set for March 2027

Christiane Tager, 10/07 18:55 - Reading : 2 minute(s)

Middle East MEA Lebanon economy low-cost Beirut airport airline

Facing soaring fares and near-monopoly on direct routes, Lebanon’s national carrier Middle East Airlines (MEA) is preparing to shake up the market. Led by Chairman Mohamad El Hout, MEA plans to launch a low-cost subsidiary in March 2027, according to insiders. The new airline will start with 4 aircraft and offer tickets up to 30% cheaper than ...

Is Iran’s Economy on the Brink?

Christiane Tager, 07/07 17:25 - Reading : 2 minute(s)

International Monetary Fund Israel Iran economy

The war may be over in Iran, the missiles silenced — but another battle rages on: the economy. After decades under crippling sanctions, battered by soaring inflation and a plunging currency, Tehran is still holding on. But for how long? While the military front has quieted, the economic one remains on high alert. For years, the Islamic Republic ...

Record Year for UK Music Tourism Driven by Global Stars

This is Beirut, 02/07 10:30 - Reading : 2 minute(s)

Music Economy Tourism Britain Culture

Music tourism contributed a record £10 billion ($13.8 billion) to the UK economy last year as fans flocked to live shows by Taylor Swift and other big acts, industry data from UK Music revealed Tuesday. "Charli XCX, Bruce Springsteen, Sam Fender and Dua Lipa helped lure a record 23.5 million music tourists to concerts and festivals," UK Music ...

$4 Billion: The True Weight of Lebanon’s Agriculture Sector

Liliane Mokbel, 28/06 14:00 - Reading : less than a minute

agriculture lebanon economy food

As Lebanon endures a prolonged economic crisis, one figure remains widely overlooked: the country’s agriculture sector generates over $4 billion annually when including the entire value chain: transport, packaging, and agro-food processing. On its own, raw agricultural production is valued at $2.2 billion per year. Strengthening agriculture and ...

The Ministry of Finance Still Stuck in the Paper Age

Liliane Mokbel, 27/06 15:35 - Reading : 2 minute(s)

Finance Ministry Yassin Jaber Digitalization Economy Lebanon

Finance Minister Yassine Jaber has announced a $6 million allocation from the Lebanon Financing Facility (LFF) to modernize tax and land registry systems and support the ministry’s ongoing reform and digital transformation efforts. Established in December 2020 under the World Bank’s guidance following the Beirut port explosion, the LFF is a ...

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

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

Gulf Israel Middle East tourism economy lebanon

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 ...

economy