This is Beirut 25/02 14:55 - Reading : 1 minute(s)
Banks European Union Ukraine United Nations
Ukraine will need over $500 billion to repair the damage resulting from the Russian invasion, which has entered its fourth year, according to a joint assessment published Tuesday. "The total cost of reconstruction and recovery in Ukraine is $524 billion over the next decade," said a statement published by Ukraine, the World Bank Group, the ...
Christiane Tager 25/02 10:00 - Reading : 2 minute(s)
Tensions persist between the Lebanese Hospital Owners' Syndicate and the Association of Insurance Companies. The conflict stems from a decision by the former, chaired by Sleiman Haroun, to increase hospital fees contracted with insurance companies by 15%, citing the need to “continue providing quality services to insured patients.” After ...
This is Beirut 24/02 14:20 - Reading : 2 minute(s)
Banks Beirut International Airport Central Bank of Lebanon Index
The Beirut Traders Association – Fransabank Retail Trade Index for the fourth quarter of 2024 (Q4-2024) recorded a value of 31.37, indicating a modest recovery in commercial activity, accompanied by cautious optimism about short-term improvements. In contrast, the index for the third quarter of 2024 had reached 35.06, reflecting a continued ...
This is Beirut 24/02 12:30 - Reading : 1 minute(s)
The Ministries of Agriculture and Environment issued a joint statement on Monday to reassure the public, stating, "In response to concerns about the impact of phosphorus on crops in the southern regions, initial laboratory tests conducted on samples, particularly olives, found no traces of phosphorus, ensuring they are safe for ...
This is Beirut 24/02 10:45 - Reading : 2 minute(s)
Alibaba AI Jack Ma Cloud computing
Chinese tech giant Alibaba said Monday it will spend more than $50 billion on artificial intelligence and cloud computing over the next three years, a week after co-founder Jack Ma was seen meeting President Xi Jinping. Investors have piled into Chinese technology stocks since the start of the year, with Alibaba – which runs some of the ...
Liliane Mokbel 23/02 12:20 - Reading : 2 minute(s)
In a note titled “A New Era: The Urgency of Deep Reforms,” the Institute of International Finance (IIF) emphasizes that there is still hope for Lebanon. It outlines two possible scenarios: limited reforms or comprehensive reforms. According to its estimates, Lebanon’s economy shrank by 38% between 2018 and 2024, while the investment-to-GDP ...
Liliane Mokbel 22/02 12:00 - Reading : less than a minute
Central Bank of Lebanon Public Administration Positions
113 senior positions within Lebanon's central administration are currently vacant and filled on an interim basis, according to sources close to the Grand Serail. This number is expected to increase by the end of 2025. Among the key positions to be filled are the Governor of the Central Bank (BDL), the Commander-in-Chief of the Army, and the ...
Christiane Tager 21/02 22:05 - Reading : 4 minute(s)
Hezbollah Israel European Union Gulf Damage War
$14 billion! That is the historic and no less colossal amount of damage caused by the conflict between Hezbollah and Israel. This sum includes both material damage and economic losses. The reconstruction costs are estimated at around $12 billion. For Nassib Ghobril, chief economist at Byblos Bank, economic losses amount to at least $3 ...
This is Beirut 21/02 15:30 - Reading : 2 minute(s)
Lebanon Iran Beirut Banque du Liban Custom fees
Finance Minister Yassine Jaber assured that there will be no increase in customs fees or taxes, while emphasizing that the state will ensure the collection of all its dues. Jaber emphasized that one of the prerequisites for an agreement with the International Monetary Fund (IMF) is combating customs fraud. He added that the state must strengthen ...
This is Beirut 21/02 15:25 - Reading : less than a minute
The Central Administration of Statistics (CAS) reported on Friday that Lebanon’s Consumer Price Index for January 2025 recorded a 1.1% increase, following a 0.18% decline in September 2024 compared to August 2024. This was the first increase in over a year, after record surges in 2023 (33.27% in March and 5.35% in May). However, the index saw a ...
Maurice Matta 21/02 11:00 - Reading : 3 minute(s)
In line with the Lebanese Central Bank (BDL) policy to raise withdrawal limits, and following consultations with President General Joseph Aoun, House Speaker Nabih Berri, Prime Minister Nawaf Salam and Finance Minister Yassine Jaber, BDL’s Central Council decided earlier this week to increase the ceiling under Circular No. 158 to $500 per month ...
Christiane Tager 20/02 22:30 - Reading : 2 minute(s)
Lebanon Economy Banks Central Bank
In a highly anticipated move, Lebanon’s Central Bank (BDL) announced on Wednesday an increase in the withdrawal limits for Circulars 158 and 166, raising them to $500 and $250 per month, respectively, effective March 1. While the decision was welcomed by depositors, it has sparked concerns over its cost and potential impact on BDL’s reserves ...