Economy

Economic Reforms: Lebanon Wants to Regain Control, Says Finance Minister

This is Beirut 11/04 18:50 - Reading : 1 minute(s)

Finance Minister Yassine Jaber stated that reforms are above all a national necessity, rather than merely a condition imposed by the international community. He made these remarks during a meeting held on Friday with a delegation from the European Bank for Reconstruction and Development (EBRD), led by Vice President Matteo Patrone. The minister ...

Lebanon Moves Toward Raising Private Sector Salaries

This is Beirut 11/04 18:15 - Reading : 1 minute(s)

Economy lebanon salaries

Labor Minister Mohammad Haidar on Friday led a key meeting of the Ministry of Labor’s Price Index Committee to discuss the salaries and allowances of private sector employees. Regarding retirement, Haidar recalled the adoption last November of a new law establishing a retirement and social protection system. He stated that the ...

Dollar, Stocks Hit and Gold Hits Record as Trade War Panic Returns

This is Beirut 11/04 09:05 - Reading : 4 minute(s)

Donald Trump dollar Washington

The dollar tumbled with most stocks while gold hit a fresh record high as panic gripped markets again on Friday, while China retaliated against Donald Trump's latest tariff blitz against the world's number two economy. The US president's decision to delay crippling duties for 90 days sparked a frenzied scramble for equities that had ...

Donald Trump Strikes Again

Christiane Tager 10/04 21:35 - Reading : 4 minute(s)

Donald Trump Europe United States China Tarifs

After 15 hours of market instability, US President Donald Trump put the brakes on his tariff measures. But China remains firmly in the crosshairs of the US president, now facing increased tariffs. Why such a rapid backpedal? Here’s a breakdown of this "pause on tariffs that lasted barely the blink of an eye." On Wednesday morning, global ...

Residential Leases: A Never-Ending Reform

Liliane Mokbel 10/04 20:15 - Reading : 3 minute(s)

Lebanon Law on old rental agreements

The issue of former tenants of residential properties remains stalled. While waiting for a resolution, it is the property owners who are bearing the brunt of this paralysis, penalized by a poorly defined law on old rental agreements. Facing the deadline for the liberalization of residential leases, many former tenants are turning to the courts to ...

EU Pauses Tariffs as Trump Eases Trade Pressure, China Left in the Crosshairs

This is Beirut 10/04 18:00 - Reading : 4 minute(s)

Donald Trump European Union China Tariffs

The EU paused plans for retaliatory tariffs on US goods Thursday after President Donald Trump abruptly suspended higher US duties on the bloc and other countries, leaving China in the crosshairs of his trade war. Trump's about-face on Wednesday triggered a massive market rebound, but Wall Street's rally fizzled on Thursday, and the dollar slumped ...

Italy’s Prada Says to Buy Rival Versace for 1.25 Bn Euros

This is Beirut 10/04 15:55 - Reading : less than a minute

USA

Italian fashion house Prada announced Thursday that it had reached a deal with US group Capri Holdings to buy Versace for 1.25 billion euros ($1.39 billion). The acquisition will create a luxury group with revenues of over 6 billion euros, which could better compete with industry giants such as the French conglomerates LVMH and Kering amid a ...

Before Restructuring Banks, the Government Must Acknowledge the Systemic Crisis

This is Beirut 10/04 14:15 - Reading : 5 minute(s)

Banks International Monetary Fund Central Bank

Lebanon’s Cabinet approved on Tuesday the statement of justification for the draft law on the reorganization of banks, with a follow-up session scheduled for Friday to finalize the text. The initiative is framed by two core principles the government says it upholds: safeguarding depositors’ rights and revitalizing the banking sector so it can ...

US Dollar Slumps on Stop-Start Tariffs

This is Beirut 10/04 13:55 - Reading : less than a minute

Donald Trump USA

The US dollar plunged against the euro and other main rivals again on Thursday after President Donald Trump abruptly paused higher tariffs on all countries except China, adding to investor uncertainty. The greenback lost over one percent against the European single currency, as markets also expected data later in the day to show US inflation ...

EU Suspends Counter-Tariffs for 90 Days After US U-Turn

This is Beirut 10/04 13:50 - Reading : less than a minute

Donald Trump European Union USA

EU chief Ursula von der Leyen said Thursday the bloc will suspend a planned package of tariffs on US goods "to give negotiations a chance" after President Donald Trump's U-turn on massive duties. "While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for ...

Passenger Traffic at Beirut Airport Declines Slightly in Q1 2025, But Arrivals Rise

This is Beirut 10/04 12:05 - Reading : 1 minute(s)

Beirut International Airport

Passenger traffic at Beirut International Airport (BIA) saw a slight decrease in the first quarter of 2025, with a total of 1,254,550 passengers, representing a 1.42% drop compared to the same period in 2024, when the airport recorded 1,272,625 travelers. However, there was a positive trend in arrivals, which increased compared to last year. The ...

Customs Duties: When China Gets Hit with a Tax — and We Get a Shock at the Checkout!

Christiane Tager 10/04 11:00 - Reading : 5 minute(s)

Lebanon China Donald Trump Tarifs

American president Donald Trump announced on Wednesday that he would suspend his “reciprocal” customs surtaxes for 90 days. However, this decision does not apply to China. With the new American customs duties taking effect — reaching an impressive 104% for certain Chinese products — many American companies that have long relied on China to ...