Key Appointments at Banque du Liban Still Pending

Maurice Matta 05/06 16:00 - Reading : 4 minute(s)

Banque du Liban Central Bank of Lebanon International Monetary Fund Banks Joseph Aoun

The terms of the four vice-governors of the Lebanese Central Bank (BDL) will expire on June 11, along with those of the chairman and members of the Banking Control Commission, as well as three experts on the Capital Markets Authority. In line with Article 18 of the Code of Money and Credit, the governor of BDL is appointed by decree for a ...

Gamers Get Hold of Nintendo's Hotly Awaited Switch 2

This is Beirut 05/06 12:05 - Reading : 4 minute(s)

Japan Nintendo Switch 2

Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score record early sales for the Japanese "Super Mario" creator. The device, which features a bigger screen and more processing power, is an upgrade to the Switch that became a global phenomenon with hit games such as "Animal ...

Brent Crashes: Black Gold Turns Weightless

Christiane Tager 05/06 10:10 - Reading : 2 minute(s)

Ukraine United States USA

Just two years ago, Brent crude neared $100 per barrel following Russia’s invasion of Ukraine. As of Tuesday, the European benchmark traded around $65.70 per barrel—a level unseen since the depths of the 2020 pandemic. This steep and unexpected decline baffled analysts, even as it offers welcome relief to consumers. At the core of this ...

Trump Says Deal with Xi 'Extremely Hard' as Steel Tariffs Double

This is Beirut 04/06 22:30 - Reading : 4 minute(s)

Donald Trump United States China Tarrifs Xi Jinping

US President Donald Trump said Wednesday it is "extremely hard" to reach a deal with China over a trade impasse that has roiled global markets, while his doubling of metal tariffs fueled tensions with key partners. Trump's latest salvos came as ministers from Organisation for Economic Cooperation and Development (OECD) countries ...

Running Low? Unleaded to the Rescue

Christiane Tager 04/06 21:35 - Reading : 4 minute(s)

Lebanon Crisis Fuel prices Private sector

The Lebanese government seems to be taking its cue from an old maxim: “When in trouble, raise the taxes.” In a decision that hit like a bombshell, authorities announced a sharp hike in fuel prices – despite a global drop in oil costs. The official rationale? To fund social aid. The logic? Ease the burden on the poor by adding to the strain ...

Lebanese Wine Industry Embraces AI for a Sustainable Future

This is Beirut 04/06 20:25 - Reading : 1 minute(s)

Banks European Union Lebanon

In a pioneering move toward modernizing agriculture, the European Bank for Reconstruction and Development (EBRD) and the European Union held a workshop in Lebanon focused on the integration of artificial intelligence into sustainable viticulture. Organized in coordination with the Ministry of Agriculture and the National Institute of Vine and Wine ...

No Political Veto on Kleiate Airport Rehabilitation Project

Liliane Mokbel 04/06 19:10 - Reading : 3 minute(s)

Lebanon Nawaf Salam Hezbollah Kleiate Airport

The rehabilitation project for Kleiate Airport – also known as René Moawad Airport – in Akkar, northern Lebanon, is moving ahead at a steady pace. In an interview with This is Beirut, Akkar MP Sagih Atieh, who chairs the parliamentary Public Works Committee, stated that “the reactivation process is proceeding normally, and there has been no ...

Lebanon Builds Regional Ties to Boost Employment and Cooperation

This is Beirut 03/06 20:10 - Reading : 1 minute(s)

Lebanon’s Minister of Labor Mohammad Haidar held a series of meetings during the 113th International Labor Conference in Geneva aimed at strengthening regional cooperation on employment and working conditions. He met with the Syrian Minister of Labor Hind Kabawat, in the presence of both Lebanese and Syrian delegations. Their discussions ...

In Search of Lebanon’s Financial and Economic Taif Agreement

Johnny Kortbawi 03/06 18:40 - Reading : 2 minute(s)

Banks Central Bank of Lebanon economy finance

Lebanon’s economic crisis cannot be measured solely by the six years since its visible eruption in September 2019. Its roots extend much further back—to 1992 and the first government formed after the Taif Agreement. This period marked the beginning of Lebanon’s modern economic policies, shaped by the country’s financial establishment with ...

Food Prices Hold Steady on the Eve of Adha

This is Beirut 03/06 16:15 - Reading : 1 minute(s)

Lebanon Hani Bohsali Al-Adha

As Eid al-Adha approaches, Lebanese households can find some reassurance: prices of imported food items are expected to remain stable, offering a rare moment of relief amid ongoing economic challenges. Hani Bohsali, President of the Lebanese Food Importers’ Union, confirmed that no significant increase in imported food prices is anticipated in ...

As Fuel Prices Climb, the State Taps Your Wallet

Christiane Tager 02/06 19:50 - Reading : 2 minute(s)

Banks

Thursday night brought a shocking surprise at the fuel station: gasoline and diesel prices surged, despite a 17% drop in global oil prices since February. Yes, you read that correctly. While prices are falling worldwide, in Lebanon, they’re climbing. This is the Lebanese exception – flammable edition. In short, a price hike running completely ...

Bank Reform in Lebanon: Central Authority Under Growing Pressure

This is Beirut 02/06 17:15 - Reading : 1 minute(s)

lebanon Banking Parliament Reform finance auathority

The parliamentary subcommittee tasked with banking reform held a pivotal session to examine Articles 5 and 6 of the draft law proposing the creation of an independent banking authority. Two competing visions are at the center of the debate. The first, supported by Banque du Liban (BDL), calls for the establishment of a new, autonomous body ...