Lebanon Secures $250 Million World Bank Loan for Reconstruction

This is Beirut 16:40 - Reading : 1 minute(s)

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Lebanon signed a $250 million loan agreement with the World Bank on Tuesday to begin repairing infrastructure damaged by Israeli airstrikes since October 2023, marking the first step in a broader reconstruction effort. Finance Minister Yassine Jaber signed the deal with World Bank regional director Jean-Christophe Carret in Beirut, in a ceremony ...

Lebanon Faces Severe Water Shortage as Rainfall Drops 51%

This is Beirut 16:00 - Reading : 2 minute(s)

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Lebanon is grappling with one of its worst water crises in decades after rainfall this year fell by 51% compared to the annual average, Energy and Water Minister Joe Saddi warned Tuesday. In his remarks at a press conference, Saddi said the sharp decline in precipitation, compounded by fewer rainy days and intense bursts of rain that the soil ...

Central Bank Chief Says Syria Will Remove Two Zeros in Currency Revamp

This is Beirut 25/08 21:35 - Reading : 2 minute(s)

Syria Syrian Central Bank Currency

Syria's central bank governor, Abdul Qadir al-Hasriya, said Monday that his country would change its currency by removing two zeros and printing new banknotes to replace those issued under ousted ruler Bashar al-Assad. Since the start of Syria's civil war in 2011, the pound has plunged from 50 to about 10,000-11,000 against the greenback, ...

A Few Extra Hours of Power: Kuwait Helps Bring Back Light to Lebanon

Christiane Tager 25/08 18:30 - Reading : 2 minute(s)

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Even a small relief can feel like a breath of fresh air in the daily lives of Lebanese families. But this shipment is more than just a tank of fuel: it represents a political gesture, much-needed financial support and a symbol of warming diplomatic ties with the Gulf monarchies. In a country where electricity has become a luxury and every hour of ...

Khalaf: Toward Realistic Solutions in 2026

This is Beirut 25/08 13:05 - Reading : 2 minute(s)

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In his monthly editorial, “Toward Realistic Solutions in 2026,” Secretary-General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, stressed that Lebanese banks intend to play an active role in this critical stage of exiting the crisis. To support this effort, they have engaged the international firm ANKURA to assist in the reform ...

ExplainerDollar Wavers, Global Economy on Edge

Christiane Tager 22/08 21:00 - Reading : 2 minute(s)

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The dollar has reigned as the undisputed king of currencies since World War Two, but 2025 began with a sharp decline. In just six months, it lost more than 10% of its value, reaching its weakest level since 1973, according to Morningstar. Erratic trade policies under Donald Trump, coupled with mounting tensions with the Federal Reserve, have left ...

Meta Makes Huge Cloud Computing Deal with Google

This is Beirut 22/08 09:35 - Reading : 2 minute(s)

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Meta has made a cloud computing deal with Google worth more than $10 billion over the course of six years, a source close to the transaction told AFP Thursday. The source confirmed a report at tech news outlet The Information about the arrangement, which will include Meta using Google datacenter servers, storage, networking and other ...

Government Allocates $40M for Jounieh Highway Expansion, Adds Buses

This is Beirut 21/08 18:30 - Reading : 1 minute(s)

Fayez Rasamny Public Transport Buses Jounieh Highway Lebanon

The Parliamentary Committee for Public Works, Energy and Water convened under the chairmanship of MP Sagih Atieh, with Public Works and Transport Minister Fayez Rasamny in attendance. At the end of the session, Atieh announced the allocation of nearly $40 million in funding for expropriations and the widening of the Jounieh Highway. With studies ...

Consumer Price Index: 1.32% Rise in July

This is Beirut 21/08 14:35 - Reading : less than a minute

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In July, Lebanon’s consumer price index (CPI) increased by 1.32% compared to the previous month and by 14.27% year-on-year, the Central Administration of Statistics (CAS) reported. The monthly CPI changes for July 2025 by region are as follows: Beirut: +1.87% Mount Lebanon: +1.46% North Lebanon: +1.10% Bekaa: +1.10% South Lebanon: ...

Lebanese Tenants’ Rights Commission Warns of Forced Evictions

This is Beirut 21/08 12:35 - Reading : 1 minute(s)

The Lebanese Tenants’ Rights Commission has once again raised the alarm, accusing certain landlords and real estate developers of using “illegal methods, including threats,” to force families out of their homes. In a statement on Thursday, the commission emphasized that tenants “are not illegal occupants,” but families who have paid ...

The Silent Crisis of Lebanese Apples

Christiane Tager 20/08 21:30 - Reading : 2 minute(s)

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In many mountain communities, apples are far more than a dessert – they are an economic pillar. Families depend on the harvest to cover schooling, healthcare and daily expenses. When apples go unsold, the entire rural economy wobbles. Juice, jams, artisanal cider and vinegar exist as alternatives, but they are insufficient to handle ...

Egypt to Export Electricity to Iraq, Syria, and Lebanon via New Submarine Cable

This is Beirut 20/08 12:50 - Reading : less than a minute

Egypt is preparing a major energy project to export electricity to Iraq, Syria, and Lebanon via a new submarine cable through Jordan, with an initial capacity of 2,000 megawatts. The announcement follows a visit by Egyptian Prime Minister Mostafa Madbouly to Amman, where he met with his Jordanian counterpart to discuss expanding regional energy ...