Liliane Mokbel 2024-09-23 12:39 - Reading : 3 minute(s)
The surge in gold prices has substantially benefited the Banque du Liban (BDL), resulting in a considerable increase in the value of its gold reserves. An auditing firm, appointed by BDL’s commissioner for Foreign Affairs with the coordination of the International Monetary Fund (IMF), conducted an inventory on November 24, 2022, which ...
This Is Beirut 2024-09-21 21:29 - Reading : 2 minute(s)
The acts of war Lebanon has witnessed ince October 2023, which have intensified over the last three days, have dashed hopes for even modest economic growth. Growth forecasts, initially estimated at 2% for 2023 and 3% for 2024, have been significantly revised. In an interview with the al-Markazia news agency, economist Nassib Ghobril spoke of a ...
2024-09-20 14:32 - Reading : 3 minute(s)
Since the economic and financial crisis gripped Lebanon in 2019, Lebanese households have witnessed a significant transformation in their consumption and eating habits. The prices of essential household goods have experienced notable fluctuations over the past few years. Since the onset of the economic crisis in 2019, most Lebanese households ...
This Is Beirut 2024-09-20 13:05 - Reading : less than a minute
Gold prices set a new record on Friday, surpassing $2,609, driven by the prospect of further US interest rate cuts boosting demand for the precious metal. The price of gold surged to $2,609.74 per ounce just two days after the US Federal Reserve made a significant rate cut for the first time since 2020, indicating that more reductions are ...
This Is Beirut 2024-09-18 12:34 - Reading : 1 minute(s)
Caretaker Minister of Economy and Trade, Amin Salam, launched a platform on Tuesday evening to boost exports to China in cooperation with the Ministry of Foreign Affairs and Lebanese Signature. “This platform is the first of its kind. Initially, it will feature ten companies showcased on China's premier online marketplace, JD.com," stated ...
Liliane Mokbel 2024-09-18 11:10 - Reading : 2 minute(s)
L The transition to electronic tax stamps is a necessity. It didn’t come as a surprise to the general public when MP Ibrahim Kanaan, head of the Parliamentary Finance and Budget Committee, made this announcement last week after the committee's meeting. What concerns citizens most is when and how they will be able to access it. At this point, ...
Maurice Matta 2024-09-18 09:06 - Reading : 2 minute(s)
Lebanon’s Central Bank (BDL) is making progress with the Safeguards Assessment Program, signed with the International Monetary Fund (IMF) earlier this year. The program centers on revising accounting policies, financial reporting and disclosures to uphold the highest standards of governance and transparency. The Safeguards Assessment Program, ...
Maurice Matta 2024-09-16 11:00 - Reading : 4 minute(s)
The Parliament approved 14 laws during its sessions on December 14 and 15, 2023. On December 19, the Cabinet decided to issue these laws on behalf of the President. Later on, the caretaker Prime Minister published 11 of them in the Official Gazette, while withholding three: one amending provisions related to private school teaching staff ...
This Is Beirut 2024-09-13 21:10 - Reading : 2 minute(s)
Caretaker Economy and Trade Minister Amin Salam unveiled the Monthly Food Price Index on Friday, developed in collaboration with the World Food Programme (WFP). Salam met with a WFP delegation on Friday before unveiling the inaugural Monthly Food Price Index for July 2024. This launch marks a major step forward in the ministry’s commitment to ...
This Is Beirut 2024-09-13 18:58 - Reading : 1 minute(s)
Walid Fayad, Caretaker Energy Minister, paid an inspection visit to the Beirut and Nahr al-Kalb rivers on Friday, as clean-up efforts neared completion. The tour’s objective was to inspect the work being done to clean up the riverbeds in order to avoid previous problems such as flooding, landslides, and rock falls caused by severe rains. Fayad ...
Liliane Mokbel 2024-09-13 15:32 - Reading : 3 minute(s)
The reinstatement of fiscal and budgetary discipline remains an unattainable goal. By submitting the 2025 draft budget to the government, caretaker Finance Minister Youssef Khalil once again bypassed the laws and regulations governing the preparation of the state budget. In early September, caretaker Finance Minister Youssef Khalil ...
This Is Beirut 2024-09-13 12:48 - Reading : less than a minute
Lufthansa, Europe's largest airline, announced on Thursday that it would extend the suspension of its flights to Beirut until October 15, attributing this decision to heightened tensions in the Middle East. The airline group, which encompasses Eurowings, Austrian, Swiss and Brussels Airlines, initially suspended flights to the Lebanese capital at ...