Ryan Chaba 24/05 10:30 - Reading : 5 minute(s)
It’s a quietly growing trend. Since Lebanon’s 2021 fuel crisis, the electric vehicle market has been steadily gaining ground. Chinese electric vehicles (EVs), in particular, are spearheading the shift. Their futuristic designs are increasingly becoming common sights on Lebanon’s roads. The numbers are still small but rising. In the absence ...
Christiane Tager 23/05 23:00 - Reading : 3 minute(s)
Since 2011, hosting Syrian refugees has posed a severe economic challenge for Lebanon. According to the latest World Bank report, the direct annual cost of accommodating these refugees is estimated at around $4.5 billion. However, this figure only accounts for direct expenses. When indirect costs are included, the total cost rises to roughly ...
This is Beirut 23/05 19:25 - Reading : 1 minute(s)
Minister of Finance Yassine Jaber, in the presence of Minister of Energy and Water Joe Saddi, signed a $257.8 million loan agreement with World Bank Regional Director Jean-Christophe Carret for the Greater Beirut Water Supply Project. The financing is aimed at improving water coverage for 1.8 million people, reducing dependence on costly private ...
This is Beirut 23/05 11:55 - Reading : 1 minute(s)
United Kingdom USA The Telegraph Redbird
British right-wing newspaper The Telegraph has agreed a deal that would see it purchased by US investment group RedBird Capital Partners for £500 million ($670 million), the pair announced Friday. RedBird has struck an "in-principle agreement" to purchase The Telegraph Media Group (TMG), which comprises the 170-year-old paper's print and online ...
This is Beirut 23/05 10:40 - Reading : 1 minute(s)
Bahrain Gulf Kuwait Saudi Arabia
A recent report by the US-based World Population Review highlights significant disparities across Arab countries in access to “safely managed” drinking water. While several Gulf states lead the region, Lebanon posts alarming figures that reflect the country’s deepening infrastructure crisis. At the top of the regional ranking, Kuwait has ...
This is Beirut 23/05 10:00 - Reading : 3 minute(s)
Japanese inflation spiked at a two-year high in April, data showed Friday, as rice prices almost doubled, turning focus on the central bank as it mulls more interest rate hikes amid Donald Trump's trade war. The news also puts pressure on Prime Minister Shigeru Ishiba ahead of elections in July and after a minister was forced to resign over a ...
Maurice Matta 22/05 20:00 - Reading : 3 minute(s)
It appears that the crisis over the non-residential lease law in Lebanon is far from over—especially after a recent decision by the Constitutional Council declaring the law unenforceable, which has sparked fresh constitutional interpretations regarding its fate. Last Tuesday, the Constitutional Council issued Decision No. 5 concerning the appeal ...
This Is Beirut 22/05 15:20 - Reading : 2 minute(s)
Banks Banque du Liban Central Bank of Lebanon Finances Parliament Lebanon
Lebanon’s Central Bank (BDL) announced in an official statement that it remains committed to transparency and integrity within the financial sector. It is actively pursuing legal procedures in collaboration with specialized law firms across several European countries and other international jurisdictions. This effort aims to initiate judicial ...
This is Beirut 22/05 11:15 - Reading : 1 minute(s)
Gulf Saudi Arabia Homeownership Lebanon
A recently published report by the U.S.-based financial and economic magazine CEOWORLD, known for its global rankings and comparative studies, sheds light on the disparities in homeownership rates across Arab countries. The findings reflect significant socio-economic differences within the region. At the top of the Arab world, Bahrain boasts the ...
This is Beirut 22/05 10:50 - Reading : 5 minute(s)
USA Donald Trump Economy Bitcoin
Equities sank and Treasuries remained under pressure following sharp losses on Wall Street fuelled by US economy fears as Donald Trump tries to push through fresh tax cuts that could balloon the already huge deficit. A weak auction of 20-year US government debt flashed a warning sign that the bond market was worried about the country's finances, ...
Christiane Tager 21/05 20:45 - Reading : 3 minute(s)
Let’s dive into the world of Bitcoin – a digital currency that is transforming global finance. Bitcoin (BTC) is much more than just a cryptocurrency: it is a decentralized currency, without a central bank or intermediaries, based on blockchain technology – a public and secure ledger. In other words, it’s money that never sleeps, doesn’t ...
Maurice Matta 21/05 20:10 - Reading : 4 minute(s)
Lebanon Economy Banks Karim Souhaid Nawaf Salam
It seems that the relationship between Banque du Liban (BDL) Governor Karim Souhaid and Prime Minister Nawaf Salam is far from ideal. In fact, it can be described as tense – a situation that didn’t arise recently but dates back to Souhaid’s appointment as Governor of the Central Bank, which was secured through a majority vote in the ...