Liliane Mokbel 2023-12-20 18:39 - Reading : 3 minute(s)
Without prior notice, Lebanon’s Central Bank (BDL) announced on Monday evening (December 18), by means of a simple statement, a new rate for the dollar on its Sayrafa exchange platform. It set the rate at 89,500 Lebanese pounds (LBP) to the dollar, marking an increase of LBP 4,000 from the rate that has been in effect since last ...
This Is Beirut 2023-12-20 13:39 - Reading : 2 minute(s)
The public administration’s civil servants have announced a total strike starting Thursday. In a statement, the civil servants' league deplored the contempt and indifference with which the government treats their rights, as if "the civil servant had become a mere commodity to be exploited and nothing more." They required that their demands be ...
This Is Beirut 2023-12-19 23:32 - Reading : 1 minute(s)
As part of its review of the draft budget for the fiscal year 2024, the parliamentary Finance and Budget Committee, chaired by MP Ibrahim Kanaan, examined the Ministry of Public Works and Transport’s budget. The draft budget had been approved by the Cabinet on September 12. The committee met in the presence of caretaker Minister of Public ...
This Is Beirut 2023-12-18 23:10 - Reading : less than a minute
According to multiple sources, the Banque du Liban (BDL) has reportedly decided to raise the rate of the Sayrafa platform from LBP 85,500 to the dollar to LBP 89,500, effective Monday. This rate had remained unchanged for several months. Although the BDL has not yet issued an official statement, it is said to have informed banking institutions of ...
2023-12-17 12:10 - Reading : 5 minute(s)
An IMF report emphasized the "urgent need" to reform customs and tax services in Lebanon following years of mismanagement and the country's crisis since 2019. This has resulted in a significant drop in public treasury revenues, decreasing from 21% of the GDP in 2019 to 6.3% in 2022. In response to a Capacity Development (CD) assistance request ...
Liliane Mokbel 2023-12-15 19:55 - Reading : 3 minute(s)
Solidere recorded losses of $11.1 million in 2022, compared to $21.5 million in 2021. However, its stock price remains stable on the Beirut Stock Exchange. According to the audited financial report, losses of the Lebanese Company for the Development and Reconstruction of Beirut Central District (Solidere) decreased in 2022 by $10.4 million, ...
This Is Beirut 2023-12-14 22:14 - Reading : 1 minute(s)
The National Social Security Fund (CNSS) transferred on Thursday an additional 102 billion pounds for the treatment of dialysis patients. CNSS announced, in a statement, that its Director General, Mohammad Karaki, has instructed the relevant financial departments to transfer an additional 102 billion Lebanese pounds for the treatment of dialysis ...
This Is Beirut 2023-12-13 22:41 - Reading : less than a minute
One of the leading US rating agencies, Moody's, says "Lebanon's rating remains C," while changing the outlook to "stable," according to Reuters. In its report, Moody's explains that "Lebanon's stable outlook reflects its expectation that the rating will remain C for the foreseeable future." It believes, however, that "the continuing political ...
This Is Beirut 2023-12-13 21:11 - Reading : 2 minute(s)
The Parliamentary Finance and Budget Committee, led by MP Ibrahim Kanaan, met on Thursday to continue reviewing the 2024 fiscal year budget proposal. This budget, approved by the Council of Ministers on September 12, was discussed in the presence of the Caretaker Minister of Finance, Youssef Khalil, and the Minister of Interior, Bassam Mawlawi. ...
This Is Beirut 2023-12-13 20:25 - Reading : 1 minute(s)
Electricité du Liban (EDL) has implemented preventive measures until the anticipated delivery of the allocated diesel cargo for December 2023, aiming to prevent a potential blackout. In an official statement, the public supplier outlined the necessity of these measures to extend the energy production period, ensuring an uninterrupted power ...
Liliane Mokbel 2023-12-13 20:21 - Reading : 3 minute(s)
New 100,000 Lebanese pound banknotes have been in circulation since December 1, 2023. There's no need to panic, as this is a purely technical measure. However, what about the 500,000 and 1,000,000 Lebanese pound banknotes? Irrespective of the purpose behind printing higher-value banknotes than those currently in circulation, such a measure ...
This Is Beirut 2023-12-13 19:52 - Reading : less than a minute
The employees of the telephone operator Touch have organized a sit-in in front of the company’s building in Bachoura. The initiative was the result of a call by the syndicate of Alfa and Touch employees to protest against “arbitrary decisions” taken by the President of the Board of Directors at Touch. The president of the syndicate, Nabil ...