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, ...
This Is Beirut 2024-08-20 17:58 - Reading : less than a minute
A memorandum of strategic cooperation was signed on Tuesday between the Federation of Chambers of Commerce, Industry and Agriculture in Lebanon (FCCIAL), chaired by former minister Mohamed Choucair, and the Renee Moawad Foundation, headed by MP Michel Moawad. The memorandum aims to activate relations, coordination and cooperation between the two ...
2024-08-19 20:58 - Reading : 3 minute(s)
After hours of complete darkness in Lebanon, signs of hope are emerging as a five-step plan is set into motion. Essential facilities are gradually being resupplied with electricity, but it will take several more days before citizens can once again enjoy their sacrosanct four hours of daily power. On Saturday afternoon, following the complete ...
This Is Beirut 2024-08-19 17:16 - Reading : 2 minute(s)
The Secretary General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, indicated that despite the significant efforts made by the Central Bank of Lebanon (BDL) to avoid including Lebanon on the gray list, and keep the banks clear from thorough monitoring of transfers, major challenges remain. He stressed that Lebanon is still under ...
This Is Beirut 2024-08-19 11:44 - Reading : less than a minute
Lebanon's water supply has been severely disrupted due to the ongoing blackout in the country since Saturday afternoon, following the shutdown of power plants due to fuel shortages. Jean Gebran, President of the Beirut and Mount Lebanon Water Establishment (EBML), confirmed on Monday that water distribution has been affected by the power outages, ...
This Is Beirut 2024-08-18 20:15 - Reading : 3 minute(s)
Following the blackout in Lebanon on Saturday afternoon, glimmers of hope are appearing, and solutions are beginning to take shape. On Sunday, the Board of directors of Électricité du Liban (EDL) announced that it had approved the supply of around 5,000 kiloliters of petroleum derivatives to the Zahrani power plant, financed by a loan approved ...