Maurice Matta 2024-05-27 08:27 - Reading : 6 minute(s)
So far, TotalEnergies Group's report on drilling and exploration results in Block 9, southern Lebanon, remains unpublished, albeit the legal deadline passing for TotalEnergies to submit it to the Lebanese State represented by the Ministry of Energy. Drilling operations in the mentioned block ceased in mid-October 2023, and despite Minister Walid ...
Liliane Mokbel 2024-05-26 10:20 - Reading : 2 minute(s)
In 2023, Lebanon imported 31,814 kg of gold bars, valued at $1.9 billion, compared to 16,776 kg in 2022, an increase of 89.6% year-on-year. This marked a record high for Lebanon in terms of the weight and value of gold bar imports over a decade, namely, from 2014 to 2023. According to the research and statistics bureau Information ...
2024-05-25 10:34 - Reading : 2 minute(s)
For several years, Lebanon has been facing severe electricity rationing in the summer due to increased consumption and the inability of power plants and the grid to handle the load. However, it appears that the Lebanese might hope to benefit from an additional one or two hours of electricity per day starting mid-June. The office of EDL director ...
This Is Beirut 2024-05-23 21:25 - Reading : 2 minute(s)
The chairman of the Parliamentary Finance and Budget Committee, MP Ibrahim Kanaan, announced that a suspension of fiscal stamp sales is being considered. If the authorities fail to resolve the black-market trafficking of these stamps, a draft law with double emergency status will be proposed. The Parliamentary Finance and Budget Committee held a ...
This Is Beirut 2024-05-23 20:22 - Reading : 3 minute(s)
Poverty in Lebanon has more than tripled over the past decade, reaching 44% of the total population, according to a new World Bank (WB) report published on Thursday. Based on a recent household survey covering five Lebanese governorates – Akkar, Beirut, Beqaa, North Lebanon and most of Mount Lebanon – the report reveals that one in three ...
2024-05-23 14:07 - Reading : 2 minute(s)
The recent mission report from the International Monetary Fund (IMF) concluded that Lebanon’s economy and population are still heavily burdened by the lack of action on “essential” economic reforms. This situation has been further exacerbated by the negative impacts of the war in Gaza, conflicts on Lebanon’s southern border, and the ...
Nicolas Sbeih 2024-05-23 12:35 - Reading : 4 minute(s)
In societies, it is customary to find two categories of people or entities: builders and destroyers. Generally, this distinction tends to be nuanced and subject to debate. But not in our case. Here, everything is clear. There is a category that we take pride in when we see them inaugurate a hotel, a factory, or a business — essentially creating ...
This Is Beirut 2024-05-22 23:49 - Reading : 2 minute(s)
"Because things have become clear, we need to move towards a final agreement", said Ernesto Ramirez Rigo, head of the International Monetary Fund (IMF) mission to Lebanon, at the end of his meeting on Wednesday in Beirut with the Economic bodies, chaired by Mohamad Choucair. However, he did not give any further explanation of what seems clear, in ...
Liliane Mokbel 2024-05-22 20:18 - Reading : 3 minute(s)
Since the beginning of the year, record spikes in the prices of gold, and more recently, silver, have been making headlines. The prices of both gold and silver are closely correlated, influenced by shared macroeconomic conditions and currency risk hedging strategies. 5% Profits But in the current context, the price of silver seems to be rising ...
2024-05-21 20:10 - Reading : less than a minute
Economic organizations explored investment opportunities in Senegal during a meeting on Tuesday, chaired by Former Minister Mohammad Choucair. The event was attended by the Senegalese Ambassador to Lebanon, Kemoko Diakite, Consul Zaher Makhader, and a group of union leaders and businesspeople interested in fostering economic cooperation with ...
This Is Beirut 2024-05-20 17:35 - Reading : less than a minute
Caretaker Minister of Finance Youssef Khalil announced on Monday a decision extending, until June 21, the deadline for filing tax stamp duty declarations and paying invoices and prepaid cards issued by cell phone operators and electronic communications companies (Internet).
Maurice Matta 2024-05-20 12:20 - Reading : 6 minute(s)
The official exchange rate of 89,500 Lebanese pounds to one US dollar is recognized by the Lebanese Central Bank (BDL) as the unified exchange rate, which banks are required to use when drafting their financial statements and periodic reports. This rate aligns with the parallel market exchange rate. BDL’s Acting Governor, Wassim Mansouri, keeps ...