This Is Beirut 2024-06-11 20:40 - Reading : 1 minute(s)
The Ministry of Finance has begun settling public institutions' outstanding electricity bills with Électricité du Liban (EDL). The public electricity supplier announced in a statement that it had been informed on June 6 that the Ministry of Finance had begun paying the amounts due on bills from the General Directorate of the Presidency of the ...
Chelsea Al Arif 2024-06-11 14:17 - Reading : less than a minute
In an interview with This is Beirut, MP Ghassan Hasbani explained the draft law proposed to alleviate the impact of inflation and the deterioration of the local currency on taxpayers in Lebanon.
Liliane Mokbel 2024-06-09 16:00 - Reading : 3 minute(s)
Economic organisms are urging MPs to promptly discuss and approve amendments to Article 45 of the income tax law. The amendments grant companies an “exceptional” authorization to revalue their inventory and fixed assets, and to manage exchange rate differences from foreign currency receivables and accounts. They can either recognize gains or ...
This Is Beirut 2024-06-07 23:33 - Reading : 2 minute(s)
The caretaker Minister of Energy and Water, Walid Fayad, announced on Friday “an increase in electricity production from mid-June.” He pointed out that the two power plants in operation, Deir Ammar and Zahrani, currently produce the equivalent of around 450 megawatts, which will rise to around 600 megawatts by mid-June. Unfortunately, this ...
This Is Beirut 2024-06-06 19:17 - Reading : 1 minute(s)
The European Central Bank cut interest rates for the first time since 2019 on Thursday as eurozone inflation gradually eases, but president Christine Lagarde said the path ahead was unclear and warned of a "bumpy road." The key deposit rate was lowered a quarter point to 3.75 percent, bringing it down from a record high. Following an ...
This Is Beirut 2024-06-06 18:39 - Reading : less than a minute
The Traffic and Vehicle Management Authority (mécanique) announced on Thursday that it is starting to issue drivers' licenses to candidates who passed the theoretical and practical exams in 2022. The formalities will be conducted in the offices of Nabatieh, Saida, Zahle, Tripoli, Ouzai, Aley, and Jounieh. Interested individuals must personally ...
2024-06-06 15:51 - Reading : 2 minute(s)
Lebanon is currently producing some 15,000 Megawatts of electricity from solar energy, a quantity that is expected to rise thanks to increasing individual and collective initiatives. The endeavors in question are aimed at saving energy, reducing the electricity bills from private fuel-powered generators, and lowering taxation from Lebanon’s ...
Maurice Matta 2024-06-05 23:30 - Reading : 3 minute(s)
In an important development in the commercial leases dossier, on May 30 the State Council adopted a preliminary ruling, numbered 215, to reject an appeal against another preliminary ruling it had made on April 4, 2024, numbered 160, in which it had suspended the application of a government decision. That decision referred back to parliament the ...
Nicolas Sbeih 2024-06-05 20:19 - Reading : 4 minute(s)
Without anyone noticing and without any announcement, we missed our opportunity to anchor ourselves to Europe, failing to become a part of it. Yet, it was a beautiful prospect for many reasons: Europe is our primary commercial and cultural source, the main donor for our dilapidated administrations and NGOs, a model of modernism, democracy and ...
This Is Beirut 2024-06-05 18:26 - Reading : 1 minute(s)
The PMI (Purchase Managers Index), published by BlomInvest, registered 47.9 points in May 2024, compared with 48.9 the previous month. This is the lowest figure in sixteen months. Commenting on these figures, Helmi Mourad, analyst at BLOM Business Bank, stressed that the decline reflects the deterioration in business activity in the private ...
This Is Beirut 2024-06-05 18:25 - Reading : less than a minute
The European Bank for Reconstruction and Development (EBRD) announced on Wednesday that it was granting €12.5 million to the Lebanese private sector, as part of a nine-year program to help small and medium-sized enterprises (SMEs) integrate effective circular economy practices into their operations. The circular economy, or circularity, is the ...
This Is Beirut 2024-06-03 17:08 - Reading : 1 minute(s)
The Director General of the National Social Security Fund (NSSF), Mohammad Karaki, issued instructions on Monday to the relevant financial departments to transfer 131 billion Lebanese pounds to hospitals for the payment of treatment for dialysis patients, bringing the total amount paid since the beginning of the year to 521 billion pounds. He ...