This Is Beirut 29/08 21:47 - Reading : 1 minute(s)
The Association of Banks in Lebanon (ABL) strongly condemned the attacks on banks that occurred on Thursday, expressing its concern for depositors’ rights. In a statement, ABL said that banks were once again exposed to malicious attacks by those with vested interests, seeking to exploit the situation at the depositors' expense. The statement ...
This Is Beirut 29/08 18:12 - Reading : 1 minute(s)
Nvidia, the company with the world’s second-largest market capitalization, announced stellar results on August 29. Despite the strong performance, the company’s share price fell by around 7% in pre-market trading in New York. Nvidia posted sales of $30 billion for the quarter from late April to the end of July, representing a 122% ...
This Is Beirut 29/08 18:08 - Reading : 2 minute(s)
Chamber of Commerce Federation
The quarterly index, published by Fransabank in collaboration with the Federation of Chambers of Commerce of Beirut to demonstrate the retail sector activity, indicated a decline in performance in the second quarter of 2024. The index registered 39.69 points, down from 42.84 in the previous quarter. However, this decline was paradoxically ...
Christiane Tager 29/08 16:12 - Reading : 4 minute(s)
Over ten months of violence between Hezbollah and the Israeli army have, as anticipated, resulted in hundreds of casualties in Lebanon, along with significant material and, most importantly, economic losses. The cost to Lebanon is staggering and unbearable for a country already on the brink. The damage caused by Israeli bombings in southern ...
Maurice Matta 28/08 16:07 - Reading : 3 minute(s)
On March 19, 2024, the Index Committee at the Ministry of Labor approved increasing the minimum wage from LBP 9 million to LBP 18 million per month, with the consent of economic bodies and the General Confederation of Lebanese Workers. Following this, the Ministry drafted a decree to implement the wage increase and submitted it to the State ...
28/08 14:31 - Reading : 1 minute(s)
Caretaker Minister of Finance Youssef Khalil extended the deadlines for tax and income tax declarations by issuing three decisions on Wednesday. This aims to give taxpayers more time while avoiding late payment fines. The deadline for filing the annual income tax return for salaries and wages (R5), individual annual statements (R6) and the ...
Élie-Joe Kamel 28/08 09:19 - Reading : 5 minute(s)
Following the widespread blackout of Électricité du Liban (EDL) on August 17, caretaker Prime Minister Najib Mikati requested that the Central Inspection Authority shed light on the causes of this outage, which brought the country to a standstill. How is the investigation proceeding? Caretaker Minister of Energy and Water Walid Fayad, along ...
This Is Beirut 27/08 15:09 - Reading : less than a minute
Caretaker Minister of Public Works Ali Hamiye launched the creation of a Fast-Track lane for departing passengers at Beirut International Airport (BIA) from the arrivals hall on Tuesday. This new initiative aims to provide qualifying travelers with a faster and more convenient experience, allowing them to reach the boarding gates more swiftly and ...
This Is Beirut 27/08 15:07 - Reading : 1 minute(s)
The Zahrani and Deir Ammar power plants are set to resume more consistent electricity production after a 10-day interruption that began on August 17 due to a fuel shortage. Sources at the electricity company informed This is Beirut that a ship carrying 30,000 tons of Egyptian diesel arrived in Lebanon on Monday evening. “Unloading tests are ...
Bassam Abou Zeid 27/08 14:01 - Reading : 2 minute(s)
The Algerian ship carrying 30,000 tons of fuel oil, valued at $18 million, as a donation from the Algerian authorities for Lebanon’s electricity sector, is expected to arrive off the coast of Tripoli's oil facilities. However, a last-minute issue has arisen: Can these quantities of fuel oil be used in the Zouk and Jiyeh power ...
Christiane Tager 27/08 12:57 - Reading : 2 minute(s)
A few years ago, it was the Lebanese who were moving to Cyprus. But since October 7, 2023, with the onset of the war between Hamas and Israel, it is the Israelis who are turning to the island, making it a refuge or a backup plan. On this small Mediterranean island, the native Jewish community is working to welcome numerous Israelis ...
Christiane Tager 26/08 19:11 - Reading : 2 minute(s)
This is Beirut revisits the Sonatrach case, focusing on the global Algerian company that was a key supplier of natural gas to Lebanon until 2021. Following a scandal, Lebanon sought new sources, shifting its energy imports to Iraq. Today, Monday, Lebanon is scheduled to receive a gasoil shipment from Algeria, a much-needed boost to address its ...