gdeveloper 2024-08-07 21:03 - Reading : 2 minute(s)
Despite preventive measures implemented since July 27 to avert a blackout in Lebanon, Électricité du Liban (EDL) announced on Wednesday the complete shutdown of the Deir Ammar power plant due to the depletion of its diesel fuel reserves. In a statement, the public utility supplier explained that following the peak in consumption on July 26, it ...
2024-08-07 18:31 - Reading : less than a minute
Caretaker Finance Minister Youssef Khalil signed a decision, on Wednesday, under which “15 million tax stamps, valued at LBP 20,000, will be put into circulation.” The stamps feature a photo from the town of Kfardonin, in the Bint Jbeil district. Tax stamps have been in short supply for some time now and were being sold secretly in local ...
2024-08-07 18:27 - Reading : less than a minute
The Union of Employees of Lebanon's electricity company, Electricite du Liban (EDL), announced on Wednesday, that they will maintain the warning strike which they started today until Monday, August 12. During this period, no bills will be issued, and only maintenance services and employees at the main relay stations and the coordination ...
Liliane Mokbel 2024-08-07 12:38 - Reading : 3 minute(s)
If the current tensions escalate into war, Lebanon will face severe turmoil. In a scenario of widespread conflict, Lebanese citizens will need to fear uncontrollable inflation more than a further devaluation of the pound against the dollar. The country would experience chaos and significant volatility in the prices of goods and services if the ...
Maurice Matta 2024-08-07 09:17 - Reading : 4 minute(s)
A major tsunami hit global markets at the beginning of the week, driven by fears that the US, the world’s largest economy, is heading towards a recession. This followed Thursday night’s disclosure of official data regarding unemployment figures, which indicated that an unexpectedly high number of Americans were jobless. These figures ...
This Is Beirut 2024-08-06 19:29 - Reading : less than a minute
The Électricité du Liban (EDL) employees have announced that they will observe a warning strike on Wednesday, August 7. In a statement, the union of EDL employees indicated that "the decision was made after the Minister of Finance refused to approve the implementation of decree 13020 concerning the employees' salary demands." The statement ...
Liliane Mokbel 2024-08-05 16:00 - Reading : 8 minute(s)
Since 2010, Hodema, a consulting and research company specializing in the restaurant and hospitality sectors, has been investigating, analyzing, and studying the dining options in Beirut, which are divided into 11 zones. To compile the Hodema 2024 report, its experts visited 810 establishments including restaurants, cafés, bars, nightclubs, ...
This Is Beirut 2024-08-05 15:52 - Reading : 1 minute(s)
The Purchasing Managers' Index (PMI), published by BlomInvest, rose to 48.3 points in July from 47.8 the previous month. This marks the highest level recorded in three months. However, "commercial conditions remain difficult," according to the index results. Commenting on the result, BLOM Bank's Director of Economic Research, Dr. Ali Bolbol, said ...
2024-08-05 15:11 - Reading : 3 minute(s)
The stock markets opened in a state of high alert this Monday. The Tokyo Stock Exchange recorded the worst drop in points in its history, while European markets are in free-fall. A “bear market” in Japan, CAC 40 dropping more than 2% in France... The global stock market's downfall continued on Monday. The Tokyo Stock Exchange fell again after ...
2024-08-04 10:47 - Reading : 5 minute(s)
The Port of Beirut is Lebanon's main gateway for goods. Covering over 1.2 square kilometers with its four basins, it handles approximately 1.3 million containers each year using 16 cranes and 39 gantries. The Port of Beirut is one of the top ten Mediterranean ones and serves as a vital gateway to the Middle East. Using auto-financing, the port ...
2024-08-03 16:30 - Reading : 2 minute(s)
Since the August 4, 2020 explosion, the reconstruction of the Port of Beirut has become the focal point of significant interest, given its potential to generate millions of dollars. However, no tangible progress has been made so far, although an intriguing and notably pragmatic French proposal has emerged. Since the August 4, 2020 explosion, the ...
This Is Beirut 2024-08-02 16:55 - Reading : less than a minute
Sources at the Lebanese Central Bank (BDL), as quoted by MTV, assured that despite the security tensions of recent days, the BDL is still able to control the exchange rate of the Lebanese pound against the dollar, especially as it has recently succeeded in collecting dollars, which has strengthened the Lebanese pound. Still, according to these ...