Reverse Exodus: People Crossing into Syria
Liliane Mokbel 03/10 19:20 - Reading : 3 minute(s)
Syrian migrants have begun returning to their country amid escalating military operations between Israel and Hezbollah. Lebanese nationals, particularly from the Beqaa Valley and South Lebanon, are also reportedly crossing into Syria. In its latest report, the United Nations High Commissioner for Refugees (UNHCR) has been on a Level 3 ...
BDL and Government Prioritize Palliative Solutions
Liliane Mokbel 26/09 20:20 - Reading : 2 minute(s)
In the aftermath of an absurd war, presented as support for Gaza, the Banque du Liban (BDL) and the Lebanese government have once again been compelled to rely on palliative solutions in the absence of more radical alternatives. In a memo signed by BDL Acting Governor Wassim Mansouri, banks have been instructed to provide beneficiaries of ...
Exchange Rate Pass-Through: Distorted Price Elasticity in Lebanon
Liliane Mokbel 25/09 15:24 - Reading : 3 minute(s)
The transmission effect or exchange rate pass-through reflects the impact of currency depreciation on price levels, particularly their elasticity, driven mainly by changes in the prices of imported goods and services. This is especially relevant for Lebanon, which experienced a historic currency devaluation from 2020 to 2023, with its ...
BDL Gold Reserves See $9.83 Billion Accounting Surge
Liliane Mokbel 23/09 12:39 - Reading : 3 minute(s)
The surge in gold prices has substantially benefited the Banque du Liban (BDL), resulting in a considerable increase in the value of its gold reserves. An auditing firm, appointed by BDL’s commissioner for Foreign Affairs with the coordination of the International Monetary Fund (IMF), conducted an inventory on November 24, 2022, which ...
The Implementation of Electronic Tax Stamps Still Far Off
Liliane Mokbel 18/09 11:10 - Reading : 2 minute(s)
L The transition to electronic tax stamps is a necessity. It didn’t come as a surprise to the general public when MP Ibrahim Kanaan, head of the Parliamentary Finance and Budget Committee, made this announcement last week after the committee's meeting. What concerns citizens most is when and how they will be able to access it. At this point, ...
Budget 2025: A Major Gap Between Theory and Reality
Liliane Mokbel 13/09 15:32 - Reading : 3 minute(s)
The reinstatement of fiscal and budgetary discipline remains an unattainable goal. By submitting the 2025 draft budget to the government, caretaker Finance Minister Youssef Khalil once again bypassed the laws and regulations governing the preparation of the state budget. In early September, caretaker Finance Minister Youssef Khalil ...
Salaries: The Enduring Struggle of Retired Military Personnel
Liliane Mokbel 10/09 20:06 - Reading : 3 minute(s)
The government failed to fulfill its commitment to provide a decent salary for public sector employees, especially retired army personnel, who once again took to the streets on Tuesday to express their outrage. The decline in purchasing power of wages and pensions of military personnel, veterans and public sector employees is not a new issue. ...
Budget 2025: An Equation with Many Unknowns
Liliane Mokbel 05/09 20:50 - Reading : 3 minute(s)
Listen to the article The objective of the 2025 budget proposal is to maintain a relative balance between revenues and expenditures, with the aim of keeping the overall deficit under 4.1%, or approximately $190 million. The draft budget submitted in August by caretaker Finance Minister, Youssef Khalil, forecasts a substantial increase in ...
Bank Loans Are Back…
Liliane Mokbel 04/09 18:51 - Reading : 2 minute(s)
Bank loans are back, but the criteria for accessing them are stricter in terms of candidate eligibility, loan purpose, amount, and repayment period. Contrary to popular belief, these loans are not available due to fresh deposits in foreign currencies. Such deposits are tightly protected and regulated by a series of circulars issued by the ...
Lebanon: Room for the Elderly
Liliane Mokbel 23/08 23:04 - Reading : 3 minute(s)
Who remains in Lebanon? Primarily the elderly. Who is emigrating? The young, but also families. The demographics of the Lebanese population are undergoing a significant shift, mainly due to the economic deadlock in which the country finds itself. Emigration is not a new phenomenon for societies, which typically experience migratory cycles limited ...
The Banking Dollar Maintained At 15,000 LBP
Liliane Mokbel 21/08 17:58 - Reading : 3 minute(s)
The exchange rate of the banking dollar, also called the "lollar" or local dollar, will officially remain at 15,000 pounds until a new decision is made. As for the cash dollar, it is set at 89,500 pounds. This proposal was submitted by the caretaker Minister of Finance, Youssef el-Khalil, to the Council of Ministers during the meeting held last ...
Resumption of Flights: Are Insurance Companies Reassured?
Liliane Mokbel 15/08 17:29 - Reading : 3 minute(s)
Air France and Transavia resumed their flights to Beirut on Thursday, after suspending them on July 29. Does this mean that Beirut International Airport (BIA) is now considered safe for civil aviation, despite ongoing hostilities in southern Lebanon? Is this an indication that reinsurance and insurance companies have revised their assessment of ...
Investment: Torn Between Gold and Silver Bars
Liliane Mokbel 13/08 13:52 - Reading : 2 minute(s)
JP Morgan experts believe that gold and silver are the most promising metals of the year, forecasting that the price of silver will soon surpass $30. While the price of an ounce of silver recently hit a high of $30, a level not seen since 2013, it still hasn't reached its historic peak of $50, recorded in 1980. Deciding between investing in gold ...
René Mouawad Airport: A Strategic Advantage
Liliane Mokbel 10/08 10:00 - Reading : 2 minute(s)
The Qlayaat René Mouawad Airport is not intended to compete with Beirut Rafic Hariri International Airport. Its purpose is to address urgent needs in security, logistics, and economic development. The rehabilitation of Qlayaat René Mouawad Airport is contingent upon the approval of the Minister of Public Works and Transport, Ali Hamiyeh, who ...
War Scenario: Chaos of Prices
Liliane Mokbel 07/08 12:38 - Reading : 3 minute(s)
If the current tensions escalate into war, Lebanon will face severe turmoil. In a scenario of widespread conflict, Lebanese citizens will need to fear uncontrollable inflation more than a further devaluation of the pound against the dollar. The country would experience chaos and significant volatility in the prices of goods and services if the ...
Hodema Assesses Dining Options in Eleven Beirut Neighborhoods
Liliane Mokbel 05/08 16:00 - Reading : 8 minute(s)
Since 2010, Hodema, a consulting and research company specializing in the restaurant and hospitality sectors, has been investigating, analyzing, and studying the dining options in Beirut, which are divided into 11 zones. To compile the Hodema 2024 report, its experts visited 810 establishments including restaurants, cafés, bars, nightclubs, ...
Shortage of Dollar Bills: A Logistical Issue
Liliane Mokbel 30/07 12:00 - Reading : 2 minute(s)
According to Majd al-Masri, the president of the Syndicate of Money Changers in Lebanon, there is no actual shortage of dollar bills in the Lebanese market. He asserts that the delays in fulfilling customers' currency exchange requests are due to a logistical issue that will soon be resolved. Mr. Masri reassures that fears of a dollar shortage are ...
Ministry of Finance: Taxing Windfall Profits
Liliane Mokbel 17/07 20:46 - Reading : 4 minute(s)
The Ministry of Finance has directed the Association of Banks in Lebanon (ABL) to notify its members to provide a list of their clients, individuals and entities, including names, addresses and tax registration numbers, who have repaid their debts in bank dollars or lollars. This request is based on provisions of tax procedural law and aims to ...
Public Sector Employees' Retirement Age Raised to 68
Liliane Mokbel 14/07 11:44 - Reading : 4 minute(s)
The retirement age for public sector employees is set to be raised to 68 for many reasons, and lawmakers are moving forward to make this happen. Two bills have been put forward to implement this change. One comes from the Democratic Gathering bloc, and the other by three MPs from the Change Coalition, namely Waddah Sadek, Michel Doueihy and Marc ...
Is a Power Blackout Threat Still a Concern for the Lebanese?
Liliane Mokbel 07/07 17:47 - Reading : 2 minute(s)
The lack of funds in EDL's account at Lebanon's Central Bank (BDL) is delaying the unloading of essential Iraqi fuel oil for the country's power plants, which is currently stored on board the tanker Sky Rider off the coast of Lebanon. Consequently, the risk of Lebanon being plunged into total darkness starting Monday is significantly increasing. ...
Code of Money and Credit: Progress on Certain Aspects of Its Reform
Liliane Mokbel 03/07 19:09 - Reading : 3 minute(s)
The commission tasked with drafting proposals to amend the Monetary and Credit Code (CMC) presented its project to Caretaker Prime Minister Najib Mikati on Monday after eleven months of rigorous effort. However, there is still a lengthy process ahead before the amendments become effective. The proposed text must first be examined by parliamentary ...
Health Insurance: Premiums on the Rise
Liliane Mokbel 30/06 11:00 - Reading : 3 minute(s)
Medical care costs are experiencing significant inflation. Major private insurers in the Lebanese market, contacted by This is Beirut, have indicated that their health insurance premiums will increase by about 10% starting July 1st. The decision to raise health insurance premiums comes in a market that has been declining for several ...
Real Estate: Series of Issues and Promising Solutions
Liliane Mokbel 26/06 18:21 - Reading : 4 minute(s)
In a country where state institutions are almost paralyzed and the specter of war is looming, recommendations for breaking out of the stagnation in the real estate sector are nothing short of hypothetical. Panelists at the second Annual Real Estate Forum in Lebanon, that took place on Tuesday, highlighted the plethora of challenges facing the ...
Petrodollars: The Raging Banknote
Liliane Mokbel 20/06 13:24 - Reading : 2 minute(s)
Is this the beginning of the end of the US dollar's hegemony in the world? This is a legitimate question, given Saudi Arabia's refusal to renew its petrodollar agreement with the United States. This half-century-old agreement has made the US dollar a powerful force in the world of finance. Signed on June 8, 1974, between the United States ...
Benefits Reaped from Sayrafa Will Be Taxed
Liliane Mokbel 15/06 18:15 - Reading : 3 minute(s)
A 17% tax will be applied on profits from transactions carried out by individuals and companies on Sayrafa, the exchange platform of Lebanon’s Central Bank (BDL). The taxable profits are those derived from operations exceeding $15,000 in 2022 and 2023. The decision by Caretaker Minister of Finance Youssef Khalil comes as part of the ...
The Rent Issue Continues to Stir Passions
Liliane Mokbel 13/06 19:14 - Reading : 2 minute(s)
The issue of rents for residential units and commercial spaces remains unresolved. Owners and tenants are navigating between new and old leases. The interpretation of laws is causing division among legal professionals and judges alike. Owners are reluctant to rent out their real estate properties, and potential tenants are hesitant to commit to a ...
A Conditional Revaluation of Stocks and Fixed Assets
Liliane Mokbel 09/06 16:00 - Reading : 3 minute(s)
Economic organisms are urging MPs to promptly discuss and approve amendments to Article 45 of the income tax law. The amendments grant companies an “exceptional” authorization to revalue their inventory and fixed assets, and to manage exchange rate differences from foreign currency receivables and accounts. They can either recognize gains or ...
Alternative Payment Methods: A Global Rise
Liliane Mokbel 02/06 13:19 - Reading : 4 minute(s)
Card payments are no longer the only and main consumers’ option. Bank cards are steadily giving way to alternative payment methods. This is a global trend, and Lebanon is no exception; for instance, electronic wallets are gaining significant popularity. The range of options keeps growing. In the coming years, there will be less cash and fewer ...
Gold Bars: Lebanon Imported 32,000 kg in 2023
Liliane Mokbel 26/05 10:20 - Reading : 2 minute(s)
In 2023, Lebanon imported 31,814 kg of gold bars, valued at $1.9 billion, compared to 16,776 kg in 2022, an increase of 89.6% year-on-year. This marked a record high for Lebanon in terms of the weight and value of gold bar imports over a decade, namely, from 2014 to 2023. According to the research and statistics bureau Information ...
Gold and Silver: The Craze of New Treasure Hunters
Liliane Mokbel 22/05 20:18 - Reading : 3 minute(s)
Since the beginning of the year, record spikes in the prices of gold, and more recently, silver, have been making headlines. The prices of both gold and silver are closely correlated, influenced by shared macroeconomic conditions and currency risk hedging strategies. 5% Profits But in the current context, the price of silver seems to be rising ...