Economy

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

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 ...

Syria Resumes SWIFT Transfers for First Time Since 2011
Syria Resumes SWIFT Transfers for First Time Since 2011

For the first time since the outbreak of the Syrian civil war in 2011, Syria has completed an international bank transfer via the SWIFT system – a symbolic step toward reintegration into the global financial network. The announcement came on Thursday from Central Bank Governor Abdelkader Husrieh, who revealed in an interview with Reuters that ...

Raids at Casino du Liban and OMT: Sweeping Out Parallel Financing Networks
Op-edRaids at Casino du Liban and OMT: Sweeping Out Parallel Financing Networks

It was an operation that took everyone by surprise and deserves to be loudly applauded: Lebanese security forces, in coordination with financial judiciary authorities, carried out raids yesterday at Casino du Liban—seizing computers and servers—and at a branch of OMT, a money transfer company. This is a rare assertion of authority in a country ...

'Animaj' Raises €75 Million to Expand Ai-Driven Animation for Kids
'Animaj' Raises €75 Million to Expand Ai-Driven Animation for Kids

French startup Animaj, which acquired the popular Spanish children’s animation brand Pocoyo in 2023 and uses artificial intelligence (AI) to produce kids’ content, announced on Wednesday that it has raised €75 million to accelerate its growth. The fundraising round was led by Bpifrance, France’s public investment bank, and HarbourView ...

Economy on Hold: Lebanon Trapped in Other People's War
Economy on Hold: Lebanon Trapped in Other People's War

With regional tensions mounting, Lebanon’s economy teeters between stagnation and potential collapse. Nassib Ghobril, Chief Economist at Byblos Bank, tells This is Beirut that the conflict’s primary consequence is widespread instability, discouraging investment, slowing trade, and deterring tourism. The looming threat of war—particularly ...

Rasamny: Qlayaat Airport Rehabilitation Project Gaining Momentum
Rasamny: Qlayaat Airport Rehabilitation Project Gaining Momentum

Prime Minister Nawaf Salam and Public Works and Transport Minister Fayez Rasamny on Wednesday reviewed progress on the long-anticipated Qlayaat Airport rehabilitation and reactivation project, in the presence of representatives from Dar Al-Handasah – Shair and Partners, the consultancy firm behind the master plan, which was presented as part of ...

BDL Raises Monthly Withdrawal Limits
BDL Raises Monthly Withdrawal Limits

The Central Bank of Lebanon (BDL) announced on Wednesday a one-year extension of Circulars 158 and 166, initially set to expire on June 30, 2025. The decision, which comes amid a prolonged financial crisis, aims to address the pressing needs of depositors and help preserve social stability. As part of the extension, BDL also increased the monthly ...

Oil Stabilises After Surge, Stocks Drop as Mideast Crisis Fuels Jitters
Oil Stabilises After Surge, Stocks Drop as Mideast Crisis Fuels Jitters

Oil prices stabilized Wednesday after surging the previous day on fears of a US intervention in the Israel-Iran conflict sparked by Donald Trump calling for Tehran's "unconditional surrender". Iran and Israel exchanged missiles for a sixth day, with the US president's latest comments appearing to dent hopes that the crisis in the Middle East ...

Why Stablecoins are Gaining Popularity
Q&AWhy Stablecoins are Gaining Popularity

Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the US Senate set to vote Tuesday on a bill to regulate such digital tokens. But as stablecoins move closer to the financial mainstream, experts warn that weak regulation could leave investors and the financial system vulnerable. What are ...

All-Risk Insurance in Wartime
All-Risk Insurance in Wartime

While Lebanon remains officially neutral in the military escalation between Israel and Iran, it is already feeling the first economic tremors. Rising regional tensions are starting to weigh on the insurance sector, particularly in maritime and air transport, as well as war-related coverage, all of which rely heavily on reinsurance. Premiums in ...

Drought: Litani River at Its Lowest Level in Years
Drought: Litani River at Its Lowest Level in Years

Facing an unprecedented water shortage, the Litani National Authority has sounded the alarm and called for rigorous and cooperative management of water resources. In a statement, the Authority warned of a dramatic drop in water levels in the Qasmiyé–Ras el-Aïn irrigation project, which supplies the regions of Saida and Tyre. According to the ...