This Is Beirut 25/09 17:16 - Reading : less than a minute
Interim Governor of Lebanon's Central Bank, (BDL) Wassim Mansouri issued a statement on Wednesday in which he announced his decsion to ask commercial banks to make a one-off exceptional payment of three monthly installments to the beneficiaries of circulars 158 and 166 at the beginning of October. Circular 158 authorizes beneficiaries to withdraw ...
Christiane Tager 25/09 16:40 - Reading : 3 minute(s)
The fear of shortages of all kinds has caught up with the entire Lebanese population amid the intensification of Israeli strikes and the widening conflict between Israel and Hezbollah. On Monday, people began rushing to gas stations, bakeries, supermarkets, and pharmacies. However, the presidents of various unions, as well as the Ministry of ...
Liliane Mokbel 25/09 15:24 - Reading : 3 minute(s)
The transmission effect or exchange rate pass-through reflects the impact of currency depreciation on price levels, particularly their elasticity, driven mainly by changes in the prices of imported goods and services. This is especially relevant for Lebanon, which experienced a historic currency devaluation from 2020 to 2023, with its ...
This Is Beirut 24/09 12:39 - Reading : 1 minute(s)
As bombardments intensify in Lebanon, there’s a growing fear among the population about the potential disconnection from global communication networks if they were to be compromised. This concern is well-founded, considering there are no backup systems in place. In an interview with This is Beirut, Johnny Corm, the caretaker Minister of ...
23/09 19:10 - Reading : less than a minute
With the deterioration of the situation in Lebanon and the intensification of bombardments, citizens fear shortages of all kinds, especially of fuel, as the Lebanese cannot forget the summer of 2021 and its gasoline shortages. On Monday afternoon, queues formed outside several gas stations. But there's no reason to panic just yet, as gasoline and ...
23/09 16:32 - Reading : less than a minute
The press office of caretaker Minister of Telecommunications Johnny Corm, confirmed in a statement that no violation of the official communication network by Israel has occurred. The messages received by Lebanese citizens in several regions on Monday are fraudulent operations conducted via electronic applications that do not require advanced ...
This Is Beirut 23/09 15:15 - Reading : 1 minute(s)
In his editorial for the Association of Banks in Lebanon (ABL), titled “The Biggest Challenge: Maintaining Exchange Rate Stability and Financial Communication in Times of War,” Secretary General Fadi Khalaf emphasized the immense challenge faced by Lebanon’s banking sector amidst the ongoing conflict with Israel. Khalaf underscored the ...
Liliane Mokbel 23/09 12:39 - Reading : 3 minute(s)
The surge in gold prices has substantially benefited the Banque du Liban (BDL), resulting in a considerable increase in the value of its gold reserves. An auditing firm, appointed by BDL’s commissioner for Foreign Affairs with the coordination of the International Monetary Fund (IMF), conducted an inventory on November 24, 2022, which ...
This Is Beirut 21/09 21:29 - Reading : 2 minute(s)
The acts of war Lebanon has witnessed ince October 2023, which have intensified over the last three days, have dashed hopes for even modest economic growth. Growth forecasts, initially estimated at 2% for 2023 and 3% for 2024, have been significantly revised. In an interview with the al-Markazia news agency, economist Nassib Ghobril spoke of a ...
Christiane Tager 20/09 14:32 - Reading : 3 minute(s)
Since the economic and financial crisis gripped Lebanon in 2019, Lebanese households have witnessed a significant transformation in their consumption and eating habits. The prices of essential household goods have experienced notable fluctuations over the past few years. Since the onset of the economic crisis in 2019, most Lebanese households ...
This Is Beirut 20/09 13:05 - Reading : less than a minute
Gold prices set a new record on Friday, surpassing $2,609, driven by the prospect of further US interest rate cuts boosting demand for the precious metal. The price of gold surged to $2,609.74 per ounce just two days after the US Federal Reserve made a significant rate cut for the first time since 2020, indicating that more reductions are ...
This Is Beirut 18/09 12:34 - Reading : 1 minute(s)
Caretaker Minister of Economy and Trade, Amin Salam, launched a platform on Tuesday evening to boost exports to China in cooperation with the Ministry of Foreign Affairs and Lebanese Signature. “This platform is the first of its kind. Initially, it will feature ten companies showcased on China's premier online marketplace, JD.com," stated ...