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 ...

The World Bank Unveils a Roadmap to Revitalize the Economy in 2025

This is Beirut 19/06 19:10 - Reading : 2 minute(s)

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The World Bank forecasts real GDP growth of 4.7% for Lebanon in 2025, driven by a recovery in tourism, moderate growth in consumption and the beginnings of renewed confidence, despite persistently weak private investment. This hoped-for rebound is based on the implementation of a one-year multisectoral action plan designed to accelerate ...

Syria Resumes SWIFT Transfers for First Time Since 2011

This is Beirut 19/06 16:30 - Reading : less than a minute

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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 ...

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

Tara B. Moussallem 19/06 16:10 - Reading : 3 minute(s)

Lebanon Casino du Liban Economy Free Patriotic Movement FPM

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

This is Beirut 19/06 10:30 - Reading : 2 minute(s)

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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

Christiane Tager 18/06 20:55 - Reading : 3 minute(s)

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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

This is Beirut 18/06 20:45 - Reading : 2 minute(s)

Qlayaat Airport Lebanon Infrastructure Investment Development

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

This is Beirut 18/06 15:50 - Reading : less than a minute

Banks Banque du Liban Central Bank of Lebanon Lebanon

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

This is Beirut 18/06 09:50 - Reading : 3 minute(s)

Markets World Oil Price

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 ...

Q&AWhy Stablecoins are Gaining Popularity

This is Beirut 18/06 09:20 - Reading : 3 minute(s)

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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

Liliane Mokbel 17/06 19:30 - Reading : 2 minute(s)

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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

This is Beirut 17/06 11:50 - Reading : 1 minute(s)

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 ...