This Is Beirut 2024-08-26 13:43 - Reading : less than a minute
The Central Administration of Statistics (ACS) reported on Monday that Lebanon’s consumer price index for July 2024 showed a 1.97% increase compared to June 2024. This recent rise, notably lower than the spikes seen in 2023, like the 33.27% surge in March and the 5.35% rise in May, reflects a more moderate trend. Conversely, the index saw a ...
2024-08-24 11:48 - Reading : 3 minute(s)
How is the private sector able to import fuel while the Ministry of Energy struggles to pay for diesel to run the country's power plants? Here’s why. The private sector is able to import fuel under the watchful eye of the Ministry of Energy, which sets and monitors prices, while the ministry struggles to afford diesel to keep the country's ...
Liliane Mokbel 2024-08-23 23:04 - Reading : 3 minute(s)
Who remains in Lebanon? Primarily the elderly. Who is emigrating? The young, but also families. The demographics of the Lebanese population are undergoing a significant shift, mainly due to the economic deadlock in which the country finds itself. Emigration is not a new phenomenon for societies, which typically experience migratory cycles limited ...
This Is Beirut 2024-08-23 12:35 - Reading : less than a minute
Antoine Habib, Chairman of the Board of Directors and General Manager of Banque de l'Habitat (BDH), revealed that the institution is preparing to launch a new loan in Lebanese pounds, which will be announced shortly. This loan, intended to assist low- and middle-income Lebanese in renovating their homes, is designed to incentivize them to remain ...
This Is Beirut 2024-08-23 12:22 - Reading : 1 minute(s)
Caretaker Minister of Energy Walid Fayad announced on Friday that "the oil tanker from Algeria is scheduled to arrive in Lebanon on Monday, August 26." In an interview with Voice of Lebanon, he explained that the ministry had dispatched a sample of the cargo to Dubai via DHL for analysis. If the results confirm that the cargo meets the required ...
This Is Beirut 2024-08-22 16:24 - Reading : 3 minute(s)
Wassim Mansouri, the first vice-governor of Banque du Liban (BDL), said on Thursday that “Banque du Liban is working to establish a state of stability pending major solutions that require the action of political forces," and he emphasized that “we are still working hard to prevent Lebanon from being included on the FATF's grey list.” In a ...
This Is Beirut 2024-08-21 20:14 - Reading : 2 minute(s)
Fifteen Lebanese citizens, including the top-ranked individual, are in the top 100 leaders of the largest international companies operating in the MENA region, according to American business magazine Forbes Middle East. In the 12th edition of Forbes Middle East, titled "Global Meets Local," which recognizes the leaders of the largest ...
Liliane Mokbel 2024-08-21 17:58 - Reading : 3 minute(s)
The exchange rate of the banking dollar, also called the "lollar" or local dollar, will officially remain at 15,000 pounds until a new decision is made. As for the cash dollar, it is set at 89,500 pounds. This proposal was submitted by the caretaker Minister of Finance, Youssef el-Khalil, to the Council of Ministers during the meeting held last ...
This Is Beirut 2024-08-21 17:22 - Reading : 1 minute(s)
Caretaker Minister of Energy Walid Fayad announced from the Serail that Electricité du Liban (EDL) would finance the purchase of half a million tons of Iraqi oil. He made the announcement following a meeting chaired by caretaker Prime Minister Najib Mikati. The meeting addressed the settlement of invoices from public institutions and ...
This Is Beirut 2024-08-21 13:11 - Reading : 1 minute(s)
“The price of Lebanese bread is set to rise by around 15,000 Lebanese pounds in mid-September, reaching 70,000 pounds,” stated Antoine Seif, President of the Union of Bread Manufacturers, in an interview with This is Beirut. He explained that this increase is expected due to the anticipated depletion of the country’s subsidized wheat stocks. ...
Maurice Matta 2024-08-21 09:30 - Reading : 3 minute(s)
On December 26, 2023, caretaker Prime Minister Najib Mikati signed eleven out of fourteen laws approved by Parliament on December 14 and 15. He withheld his signature from the remaining three laws, citing the need to review them at the next Cabinet session to explore constitutional options. The General Directorate of the Presidency of the Council ...
This Is Beirut 2024-08-20 18:30 - Reading : 2 minute(s)
The American rating agency Standard & Poor's (S&P) has maintained its rating on Lebanese pound bonds at CC while keeping a negative long-term outlook. Following the publication of this report, the Lebanese Ministry of Finance was keen to point out that “this semi-annual report is part of the agency's rating process and periodic review, ...