Liliane Mokbel 14/01 12:48 - Reading : 3 minute(s)
Many MPs have voiced their concerns, alternatively denouncing "hidden deficits" or "covered-up deficits" in the proposed 2023 budgets (which have not been voted on yet) and that of 2024. The 2024 budget project, examined by parliamentary committees, anticipates a deficit of around LBP 17 trillion. This figure has been contested by numerous MPs ...
Mario Chartouni 13/01 11:28 - Reading : 4 minute(s)
In 2019, Sri Lanka, the Asian island celebrated for its rich heritage and stunning landscapes, faced its most severe economic crisis since gaining its independence in 1948. What were the underlying causes, symptoms, effects, and potential solutions for this crisis? No Smoke Without Fire The first tragedy struck on April 21, 2019, Easter Sunday, ...
This Is Beirut 12/01 13:58 - Reading : 1 minute(s)
Profits made by the two mobile operators Alfa and Touch increased by tens of millions of dollars year-on-year while expenses were reduced, saving millions of dollars which were transferred to the Treasury. The financial conditions of the two mobile operators were on the agenda of the parliamentary Information and Telecommunications Committee, ...
This Is Beirut 11/01 21:51 - Reading : 1 minute(s)
Acting Governor of Lebanon's Central Bank (BDL) Wassim Mansouri said on Thursday that "the opportunity is real and the time has come to start finding solutions for the country's (woes) as a whole." Speaking at the end of a panel discussion at the headquarters of the General Confederation of Lebanese Workers (CGTL), Mansouri stressed that, for ...
This Is Beirut 11/01 21:47 - Reading : 1 minute(s)
The damage caused to the road network by the storm that hit Lebanon in December cost the Ministry of Public Works USD 1.5 million, at a time when the Ministry's budget for all road-related matters for the years 2022 and 2023 is USD 2.4 million. This was revealed by caretaker Minister of Public Works Ali Hamieh after a meeting with Prime Minister ...
Nicolas Sbeih 11/01 14:31 - Reading : 5 minute(s)
If one wished to enumerate, for amusement, the hindrances to investment and economic development in the country, they would have a plethora of options. I'm not certain that the allocated megabytes for this section would be sufficient. In a hodgepodge fashion, one can mention: closed, semi-closed or ajar administrations, turning formalities into a ...
This Is Beirut 10/01 19:49 - Reading : 1 minute(s)
The International Labor Organization (ILO) warned on Wednesday that global unemployment could rise in 2024, expressing concern over stagnating productivity, rising inequality and income-eroding inflation. "The global unemployment rate fell from 5.3% in 2022 to 5.1% in 2023, but an additional two million workers are expected to be looking for work ...
This Is Beirut 10/01 18:10 - Reading : 1 minute(s)
In an information note published on Wednesday, the Central Bank (BDL) appealed to market makers who wish to operate on its new Bloomberg-managed foreign exchange platform to contact the company directly. In this context, BDL has invited banks that wish to take part in the new platform's activity and that have not yet integrated the Bloomberg FX ...
This Is Beirut 10/01 17:51 - Reading : 2 minute(s)
Lebanon's state-run electricity company, Electricité du Liban (EDL), has announced a gradual increase in power supply, stressing, however, the need to take preventive measures to avoid having the fuel shortage problem be repeated in mid-February. In a press release issued on Wednesday, the public electricity supplier indicated that it was able ...
This Is Beirut 09/01 21:41 - Reading : 1 minute(s)
As part of the digital transformation project initiated by the Ministry of Economy and Trade, 18 administrative procedures under the Ministry's responsibility will be digitized by the end of March, and all formalities will be dematerialized during 2024. The caretaker Minister of Economy and Trade, Amin Salam, announced on his X account (formerly ...
This Is Beirut 08/01 17:35 - Reading : less than a minute
The caretaker Finance Minister, Youssef Khalil, on Monday handed over to the chairman of the parliamentary Finance and Budget Committee, Ibrahim Kanaan, the lists detailing the Treasury advances granted between 2020 and 2023 and the donations made to Lebanon between 2018 and 2023. The committee had requested these lists during the sessions ...
This Is Beirut 08/01 17:31 - Reading : less than a minute
The head of the union of workers and distributors in the gas sector, Farid Zainoun, called on caretaker Energy Minister Walid Fayad on Monday to "revive the decision taken in 2015 to replace domestic gas cylinders," noting that "displaced Syrians have brought in almost 1.5 million defective cylinders from Syria.” Zainoun pointed out that ...