This Is Beirut 2024-08-05 15:52 - Reading : 1 minute(s)
The Purchasing Managers' Index (PMI), published by BlomInvest, rose to 48.3 points in July from 47.8 the previous month. This marks the highest level recorded in three months. However, "commercial conditions remain difficult," according to the index results. Commenting on the result, BLOM Bank's Director of Economic Research, Dr. Ali Bolbol, said ...
2024-08-05 15:11 - Reading : 3 minute(s)
The stock markets opened in a state of high alert this Monday. The Tokyo Stock Exchange recorded the worst drop in points in its history, while European markets are in free-fall. A “bear market” in Japan, CAC 40 dropping more than 2% in France... The global stock market's downfall continued on Monday. The Tokyo Stock Exchange fell again after ...
2024-08-04 10:47 - Reading : 5 minute(s)
The Port of Beirut is Lebanon's main gateway for goods. Covering over 1.2 square kilometers with its four basins, it handles approximately 1.3 million containers each year using 16 cranes and 39 gantries. The Port of Beirut is one of the top ten Mediterranean ones and serves as a vital gateway to the Middle East. Using auto-financing, the port ...
2024-08-03 16:30 - Reading : 2 minute(s)
Since the August 4, 2020 explosion, the reconstruction of the Port of Beirut has become the focal point of significant interest, given its potential to generate millions of dollars. However, no tangible progress has been made so far, although an intriguing and notably pragmatic French proposal has emerged. Since the August 4, 2020 explosion, the ...
This Is Beirut 2024-08-02 16:55 - Reading : less than a minute
Sources at the Lebanese Central Bank (BDL), as quoted by MTV, assured that despite the security tensions of recent days, the BDL is still able to control the exchange rate of the Lebanese pound against the dollar, especially as it has recently succeeded in collecting dollars, which has strengthened the Lebanese pound. Still, according to these ...
2024-08-01 19:23 - Reading : 3 minute(s)
Following the bombing in Majdal Shams, the retaliation in the southern suburbs and Israeli threats to annihilate Lebanon, panic has gripped expatriates and the few tourists who decided, against all odds, to spend their holidays in the Land of the Cedars. This Is Beirut provides an update with the help of professionals in the tourism ...
Nicolas Sbeih 2024-08-01 07:30 - Reading : 5 minute(s)
We are used to criticizing politicians, the Lebanese Central Bank (BDL) at times, as well as Hezbollah and its offshoots—on this platform and elsewhere. We blame them for their misdeeds, their incompetence, their ignorance, their greed or all four at once. I admit that doing so is usually a breeze, given that politicians supply a steady stream ...
2024-07-31 20:33 - Reading : less than a minute
With the deterioration of the situation in Lebanon, citizens fear shortages of all kinds, particularly of fuel, as the Lebanese cannot forget the summer of 2021 and its oil shortages. However, for the time being, there is no reason to panic, as gasoline and fuel oil are available. Contacted by Ici Beyrouth, Maroun Chammas, the President of the ...
This Is Beirut 2024-07-30 18:11 - Reading : less than a minute
General Manager of the Port of Beirut Omar Itani announced on Tuesday that the port would be working around the clock to complete the formalities required to clear imported food products through customs, in order to ensure food safety. In a statement, he said that all port staff would be on hand to complete the formalities for imported food ...
This Is Beirut 2024-07-30 15:48 - Reading : 1 minute(s)
The Syndicate of Food Importers, chaired by Hani Bohsali, called on the relevant ministries and departments to take exceptional and rapid measures to expedite customs clearance and formalities for imported food products at the port of Beirut. This appeal was made in light of the delicate circumstances Lebanon is currently facing, to ensure the ...
This Is Beirut 2024-07-30 14:45 - Reading : 2 minute(s)
Ditch Ratings maintained last week Lebanon’s “Restricted Default (RD)” status on its long-term foreign currency public debt. The agency also announced its intention to withdraw Lebanon’s ratings due to insufficient information caused by the unavailability of key data. This decision underscores the Lebanese government’s failure to ...
Liliane Mokbel 2024-07-30 12:00 - Reading : 2 minute(s)
According to Majd al-Masri, the president of the Syndicate of Money Changers in Lebanon, there is no actual shortage of dollar bills in the Lebanese market. He asserts that the delays in fulfilling customers' currency exchange requests are due to a logistical issue that will soon be resolved. Mr. Masri reassures that fears of a dollar shortage are ...