Economy

Op-edWhen Kostanian Admits Defeat and the End of Kulluna Irada’s Project!

Tony Abi Najem 20/02 21:50 - Reading : 4 minute(s)

The article written by Albert Kostanian, published on al-Modon’s website and titled “Announcing Defeat,” stood out. He begins with the statement: “After nearly six years of media and technical battles, the time has come to announce defeat.” In this article, where every sentence could be analyzed, it is important to focus on several key ...

Lebanon-Syria: Smuggling Thrives on Fuel

Liliane Mokbel 20/02 21:18 - Reading : 3 minute(s)

Lebanon Trafficking Syria

The illegal trafficking of goods between Lebanon and Syria has been a longstanding issue. Despite the collapse of Bashar al-Assad’s regime, little progress has been made, even with the United Kingdom’s assistance to Lebanon in securing its borders, notably through the construction of surveillance towers along the northern and eastern ...

The World Bank Recommends the Creation of a Transparent Reconstruction Fund

This is Beirut 20/02 17:50 - Reading : less than a minute

dollars lebanon

Lebanon has received key recommendations from the World Bank (WB) concerning the country’s reconstruction efforts. According to information reported by LBCI, in a recent meeting at the Grand Serail, members of the WB delegation stressed the need to establish a dedicated reconstruction fund, along with reforms to ensure financial ...

ECB rate hikes result in record loss in 2024

This is Beirut 20/02 16:15 - Reading : 2 minute(s)

Ukraine

The European Central Bank on Thursday reported a record loss in 2024 after it had aggressively hiked eurozone interest rates in response to soaring inflation. The ECB lost 7.9 billion euros ($8.3 billion) last year, the second straight year the Frankfurt-based institution has been in the red. In 2023, the central bank was down 1.3 billion euros, ...

ExplainerThe Necessity of Restructuring the Public Sector: A 'Political' Solution

Maurice Matta 20/02 10:00 - Reading : 4 minute(s)

Economy Lebanon Public Sector

Salaries and wages of public sector employees and workers: a pending issue whose resolution is tied to the beginning of the new mandate… These employees have already received promises that have not materialized, the latest being from the previous government led by Najib Mikati, which promised a new salary scale—never adopted—last June. Many ...

ExplainerEnd of the Road for the Bidding Process on Exploration of Blocks 8 and 10

Christiane Tager 19/02 20:50 - Reading : 4 minute(s)

Lebanon Economy Gas

Lebanon will close, on March 17, the third round of bidding for gas exploration in blocks 8 and 10 of its Exclusive Economic Zone (EEZ), located off its coast. This project could be a major breakthrough for the country in terms of energy security and economic development. These bids are seen as an opportunity to attract foreign investment and tap ...

Stock markets skid after Trump threatens auto tariffs

This is Beirut 19/02 17:20 - Reading : 3 minute(s)

Donald Trump Banks Europe New York Stocks

Global stock markets mostly fell Wednesday after US President Donald Trump broadened his tariff threats, stoking wider trade war fears. Trump warned the previous day that he would impose tariffs "in the neighbourhood of 25 percent" on auto imports and a similar amount or higher on semiconductors and pharmaceuticals. "Understandably this has ...

Tourism Chief Warns Against Instability

This is Beirut 19/02 16:05 - Reading : 1 minute(s)

Beirut International Airport Gulf Joseph Aoun Saudi Arabia

The President of the Federation of Tourist Unions and the Hoteliers’ Union, Pierre Achkar, has raised concerns over recent street violence and road blockades, particularly those disrupting access to Beirut’s International Airport (BIA). He cautioned that such unrest could jeopardize the tourism sector’s recent momentum, which had ...

BDL Raises Withdrawal Limits of Circulars 158 and 166

This is Beirut 19/02 15:50 - Reading : less than a minute

Banks Banque du Liban Central Bank of Lebanon

The Central Board of Lebanon's Central Bank (BDL) has approved an increase in withdrawal limits under circulars 158 and 166, allowing depositors to withdraw $500 and $250 per month respectively. The decision will take effect on March 1, 2025. In a statement issued Wednesday, the BDL explained that the decision aligns with its ongoing policy ...

Qlayaat Airport: Now or Never

Liliane Mokbel 18/02 20:50 - Reading : 3 minute(s)

Lebanon Hezbollah Kleiate Airport

From the moment he was appointed, Minister of Public Works and Transport Fayez Rasamny has shown a firm determination to revive the rehabilitation project of Qlayaat Airport, also known as René Mouawad Airport. According to him, this initiative will be part of a comprehensive vision for air transport, which will be implemented once the government ...

Khalaf: Fair Solutions to Restore Confidence

This is Beirut 18/02 20:00 - Reading : 2 minute(s)

lebanon Finances

The Secretary General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, stated that fair solutions remain possible to restore depositors' trust and safeguard the banking sector, emphasizing the importance of deep reforms to revive the country's economy. In the introduction to the ABL's monthly report titled “Addressing the Financial ...

Iran mulls moving capital to 'lost paradise' on southern coast

This is Beirut 18/02 16:00 - Reading : 4 minute(s)

Gulf Tehran

Faced with myriad problems including gridlocked traffic and a sinking earth surface in its current capital, Iran is considering a drastic solution -- moving it to an altogether different location on the Gulf of Oman. Though the idea of moving the capital has cropped up on various occasions since the 1979 Islamic Revolution, the proposals were ...