Economy

Skyward Conflict: Israel and Iran Fuel Soaring Aviation Expenses

Christiane Tager 02/07 19:40 - Reading : 2 minute(s)

During the Israeli airstrikes on Tehran that started on June 13, airlines steered clear of Iranian airspace and several strategic zones in the Gulf. Over the 12 days of war, more than 3,000 flights were cancelled each day, according to Flightradar24. Those that managed to take off were forced into long detours, north, east or south, to avoid the ...

Global Fashion Industry Valued at $1.84 Trillion

This is Beirut 02/07 17:05 - Reading : less than a minute

Uniform Market Fashion industry

The global fashion industry has cemented its place as a powerhouse of the world economy, with a current market value of $1.84 trillion, according to the specialist platform UniformMarket (2024). Beyond its staggering economic weight, the sector provides employment to approximately 430 million people worldwide, making it one of the largest sources ...

Washington Moves Toward Easing Economic Pressure on Syria

Liliane Mokbel 02/07 10:00 - Reading : 2 minute(s)

Syria Donald Trump Sanctions

In a move that could signal a turning point in Washington-Damascus relations, United States President Donald Trump signed an executive order on June 30, 2025, partially lifting economic sanctions against Syria. These measures, in place for more than two decades, had severely isolated the Syrian economy and disrupted the functioning of most public ...

Big Beautiful Bill: America’s Divisive Tax Overhaul

Mario Chartouni 02/07 08:25 - Reading : 5 minute(s)

Donald Trump Republicans US House of Representatives Democrats Budget US

Passed by the US Senate last Tuesday by a majority of 51 votes to 50, thanks to the decisive vote of Vice President J.D. Vance, the One Big Beautiful Bill Act (OBBBA), nicknamed the “Big Beautiful Bill” (BBB), is currently the most ambitious and polarizing budget bill championed by Donald Trump since his return to the political ...

BDL Issues Circular to Regulate Foreign Transfers

This is Beirut 01/07 18:15 - Reading : less than a minute

Banks Banque du Liban Central Bank of Lebanon lebanon

Banque du Liban (BDL) issued Circular No. 169 on Tuesday, introducing new restrictions on the transfer of deposits abroad in a bid to promote fairness among depositors amid Lebanon’s ongoing financial crisis. Under the new directive, banks are prohibited from transferring deposits outside Lebanon without prior approval from BDL. The measure is ...

SpotlightBanking Reform Heats Up as Souhaid Pushes to Clarify Commission Powers

This is Beirut 01/07 11:00 - Reading : 4 minute(s)

Lebanon Banks Banque du Liban Economy

Most members of the Finance and Budget Committee’s subcommittee tasked with reviewing the draft Banking Reform Law agree on the need to protect the legislative reform process from both endless debate and political divisions, which could undermine the urgent financial restructuring Lebanon requires domestically and internationally. Participants ...

Souhaid Concludes Reform-Focused Consultations in Paris and Washington

This is Beirut 30/06 16:20 - Reading : 1 minute(s)

Washington International Monetary Fund Banks Central Bank of Lebanon Karim Souhaid

Central Bank Governor Karim Souhaid wrapped up a round of high-level technical consultations in Paris and Washington focused on advancing structural reforms in the banking sector, according to a statement issued by Banque du Liban (BDL). The meetings aimed to lay the groundwork for a comprehensive reform plan supported by legislative and ...

Khalaf Warns: “Comprehensive Plan Urgently Needed”

This is Beirut 30/06 12:15 - Reading : 2 minute(s)

Fadi Khalaf Central Bank Lebanon Bank Association Lebanon

In an op-ed published ahead of the Association of Banks in Lebanon’s (ABL) monthly report, Secretary General Fadi Khalaf once again sounded the alarm, warning that the absence of a comprehensive solution remains the greatest threat to Lebanon’s economic and financial future. With the country’s systemic crisis entering its sixth year, Khalaf ...

Top Chinese Diplomat in Europe to Promote Closer Ties

This is Beirut 30/06 09:35 - Reading : 3 minute(s)

China United States Europe Wang Yi

China's top diplomat heads to Europe on Monday for a visit that Beijing said will highlight ties as an "anchor of stability" in a world in turmoil. Wang Yi's tour will take him to the European Union's headquarters in Brussels as well as France and Germany as China seeks to improve relations with the bloc as a counterweight to superpower rival the ...

Central Bank of Lebanon’s Governor Proposes a Specialized Body for Bank Restructuring

Maurice Matta 28/06 15:00 - Reading : 6 minute(s)

Banks Central Bank of Lebanon International Monetary Fund

The subcommittee of the parliamentary Finance and Budget Committee, chaired by MP Ibrahim Kanaan, continues its review of the draft Banking Sector Restructuring Law. The discussions are centered on resolving divergences between the government's proposal, the IMF’s recommendations, and the proposals presented by Central Bank of ...

Figure of the week$4 Billion: The True Weight of Lebanon’s Agriculture Sector

Liliane Mokbel 28/06 14:00 - Reading : less than a minute

agriculture lebanon economy food

As Lebanon endures a prolonged economic crisis, one figure remains widely overlooked: the country’s agriculture sector generates over $4 billion annually when including the entire value chain: transport, packaging, and agro-food processing. On its own, raw agricultural production is valued at $2.2 billion per year. Strengthening agriculture and ...

A Home for $100,000: Housing Bank Boosts Loan Cap

Christiane Tager 27/06 21:20 - Reading : 2 minute(s)

Banks South Lebanon

The Housing Bank (Banque de l'Habitat, BDH) has raised the ceiling for subsidized housing loans to $100,000. No miracle here, just solid financing. “This increase from $50,000 to $100,000 was made possible by a funding package – currently under negotiation – granted by the Qatar Fund to the Housing Bank,” said BDH CEO Antoine Habib in a ...