Liliane Mokbel 2024-12-28 12:00 - Reading : less than a minute
Banks prices inflation crisis world bank
In Lebanon, prices in dollars rose by 4.9% between September 2019 and September 2024, according to the World Bank. Meanwhile, the Central Directorate of Statistics reports a staggering 5970% increase in prices in Lebanese pounds over the same period.
This is Beirut 2024-12-27 21:35 - Reading : less than a minute
The Directorate General of the Internal Security Forces (ISF) has issued a statement denying rumors circulating on certain social networks, claiming that the old printing of the hundred-dollar bill is still in circulation in the country. According to these rumors, the distribution of these bills has been suspended worldwide. However, the ISF said ...
This is Beirut 2024-12-27 13:45 - Reading : less than a minute
On Friday, the Banque du Liban (BDL) issued a circular asking banks to pay two monthly installments to beneficiaries of circulars 158 and 166, which concern exceptional bank withdrawals of fresh dollars, at the beginning of January. Depositors benefiting from Circular 158 will receive $800 in cash instead of $400, while those benefiting from ...
Maurice Matta 2024-12-27 11:00 - Reading : 5 minute(s)
The relevant departments of the Banque du Liban (BDL) have finalized a comprehensive study on deposits and accounts held in Lebanese banks. This study distinguishes between “fresh accounts,” opened after October 17, 2019, and “dollar accounts,” which refer to legacy accounts established before that date. Commissioned by the acting ...
This is Beirut 2024-12-26 15:15 - Reading : less than a minute
In order to continue offering insured patients high-quality care, hospitals will have to raise their prices with insurance companies by 15% as of January 2, 2025. Under the direction of its President, Sleiman Haroun, the Syndicate of Hospital Owners in Lebanon convened on Thursday. Participants talked about “the contractual relationship ...
This is Beirut 2024-12-26 15:05 - Reading : 1 minute(s)
Turkey’s central bank lowered its key interest rate on Thursday for the first time since February 2023, cutting it by 2.5 percentage points to 47.5%. This move comes in response to a slowdown in inflation, which remains above 47% year-on-year. The rate had been held steady at 50% since March as part of efforts to curb inflation. The central ...
This is Beirut 2024-12-26 14:45 - Reading : 2 minute(s)
According to Wissam Fattouh, the Secretary General of the Union of Arab Banks (UAB), Lebanon is set to enter a new phase aimed at restoring financial and monetary stability as the year 2025 approaches. In a recent statement, Fattouh emphasized that regaining confidence in the Lebanese pound is critical for achieving economic stability. This, he ...
This is Beirut 2024-12-25 12:15 - Reading : less than a minute
Caretaker Minister of Agriculture Abbas el-Hajj Hassan sent letters to the Ministries of Defense, Interior and Municipalities, the Supreme Customs Council, the General Directorate of Customs, the Lebanese Army Command and the General Directorate of State Security, calling for action to combat the growing phenomenon of smuggling of agricultural ...
This is Beirut 2024-12-23 21:05 - Reading : less than a minute
Mohammad Karaki, the Director General of the National Social Security Fund (NSSF), has requested that 27 billion Lebanese pounds be sent to hospitals through the appropriate financial services. This raises the entire sum given to hospitals since the start of December to 57 billion pounds, and for 2024, it will be approximately 207 billion ...
This is Beirut 2024-12-23 21:00 - Reading : less than a minute
Electricity of Lebanon (EDL) announced on Monday that throughout the holiday season, the daily energy supply will be extended from around 4 to 6 hours to approximately 6 to 8 hours. "An additional gas unit and a half-steam unit have been installed at the Zahrani power plant, increasing output by 200 megawatts," the public energy supplier said in a ...
This is Beirut 2024-12-23 13:20 - Reading : 1 minute(s)
The Director General of the Ministry of Economy, Mohammad Abu Haidar, stated that the war inflicted losses estimated at $12 billion to $15 billion on Lebanon’s economy, with direct losses exceeding 50%. In an interview with the local channel MTV, he explained that the war’s repercussions have deprived the country of revenues typically ...
This is Beirut 2024-12-22 12:20 - Reading : 4 minute(s)
This photograph shows "Parfums de Marly" boutique, a luxury and niche perfume brand, in Paris on December 12, 2024. ©Grégoire CAMPIONE / AFP Produced in small batches with high-quality, natural or rare ingredients, niche perfumes are becoming big business even while retaining their exclusive nature. "We've had absolutely incredible ...