This Is Beirut 2024-01-29 23:09 - Reading : 2 minute(s)
The board of the International Confederation of Lebanese Businesspeople (MIDEL), which met under the chairmanship of Fouad Zmokhol, considered that the budget should not purely involve accounting but should be based on a strategic, economic and financial vision and outlook. Commenting on the finance law approved by Parliament on Friday, it noted ...
Maurice Matta 2024-01-29 13:31 - Reading : 5 minute(s)
The Lebanese Parliament approved last weekend, within the constitutional timeframe, the draft budget law for the year 2024, after bringing in the necessary amendments. However, the draft law neglected to include crucial reforms that could help the country come out of its financial collapse. The Parliament-approved budget underwent a thorough ...
This Is Beirut 2024-01-29 12:55 - Reading : 4 minute(s)
Oil prices rose on Monday due to fresh Middle East fears, as President Joe Biden pledged to retaliate after blaming Iran-backed rebels for a deadly attack on US troops, while equities were boosted by China's latest move to support its troubled markets. The drone strike on a base in Jordan, which came days after the Houthis struck a vessel in the ...
2024-01-27 21:21 - Reading : 2 minute(s)
Lawmakers deflect responsibility by shifting the decision on the dollar exchange rate to the Central Bank of Lebanon (BDL), a move criticized by economic experts as an evasion of addressing pressing financial issues, notably the plight of depositors. This reflects a persisting corrupt climate apparent in various numbers reported by the Central ...
2024-01-27 17:37 - Reading : 1 minute(s)
The Traffic Management and Vehicles Authority, known as ‘Mécanique’, announced on Saturday that it will be receiving citizens over the next two weeks to provide new services at the Dekwaneh center. These services include lifting seizures and mortgages and replacing lost vehicle permits and social security forms. On January 30 and 31, and on ...
2024-01-27 17:09 - Reading : 1 minute(s)
The League of Civil Servants announced on Saturday that it would observe a general strike from Tuesday, January 30 to February 9 inclusive. Calls for sit-in protests will also be issued. In a statement issued on Saturday, the League attacked the "salvation" government which continues to ignore the rights of all low-income public sector workers, ...
2024-01-27 00:45 - Reading : 2 minute(s)
Parliament approved the draft budget for fiscal year 2024 after examining it article by article. More than half the articles were amended. It was adopted within the time limit set by the Constitution, a first in almost 20 years. Parliament approved the draft budget for fiscal year 2024 on Friday after studying it article by article. The draft ...
2024-01-26 11:46 - Reading : 1 minute(s)
According to sources quoted by MTV, the collection of bills from Syrian refugee camps has brought in LBP 1.2 billion for Electricité du Liban (EDL). "Collection in the camps is going well," said Tarek Abdallah, a member of EDL's Board of Directors to MTV, hoping that these positive results will reduce the rates of waste and non-collection from ...
This Is Beirut 2024-01-25 20:28 - Reading : 2 minute(s)
Tensions in the Middle East could lead to an exacerbation of inflation, warned Christine Lagarde, President of the European Central Bank (ECB). "Tensions in the Middle East and shipping disruptions in the Red Sea could lead to a further rise in inflation rates," she said during a press conference in Frankfurt. Lagarde warned that ...
This Is Beirut 2024-01-25 14:16 - Reading : 5 minute(s)
Bank Audi released its annual economic report titled "Has the Uphill Climb Begun, with the Possibility of an Economic Turnaround?" The report highlights the negative impact of the Hamas-Israel war in the last quarter of the year. Despite an initial improvement, the economy faced a lack of growth. Bank Audi considers 2023 a year of "performance ...
2024-01-24 21:08 - Reading : 1 minute(s)
On Wednesday, the caretaker Minister of Finance, Youssef Khalil, announced four decisions pertaining to the extension of deadlines for some tax payments. These measures grant taxpayers an additional period to fulfill their obligations, thereby avoiding late payment penalties. The deadline for the annual flat and proportional fee imposed on ...
2024-01-24 19:11 - Reading : 3 minute(s)
Since the beginning of the Houthi attacks in November, maritime traffic in the Red Sea has declined by around 70%. This critical situation is disrupting the maritime transport sector and global trade, which is consequently affecting Lebanese trade. Since mid-November, Houthi attacks in the Red Sea have led numerous ship-owners to steer clear of ...