Economy

Numbers & FiguresTotal Assets of Lebanese Commercial Banks Drop 8.06% YoY as of August 2024

This is Beirut 28/11 16:25 - Reading : 2 minute(s)

According to the consolidated balance sheet of Lebanese commercial banks, total assets contracted by 8.06% year-on-year (YoY), dropping to $104.56 billion in August 2024. This decline followed Banque du Liban’s (BDL) adoption of a new official exchange rate of LBP 89,500 per USD, effective January 31, 2024. Currency and deposits with BDL ...

MEA: Back to Normal

This is Beirut 28/11 13:35 - Reading : less than a minute

MEA Lebanon Flights

The national carrier Middle East Airlines (MEA) will resume all flights as normal from December 12. The airline also began operating additional flights on Thursday to meet demand, which has increased considerably. Sources at MEA confirmed that, since the announcement of the ceasefire, more than 6,000 requests have been received via the website, ...

Reinsurers Reluctant Toward Lebanese Insurance Companies Over Conflict

Liliane Mokbel 27/11 16:00 - Reading : 3 minute(s)

Central Bank of Lebanon Hezbollah Israel Insurances Reinsurers

Reinsurers are hesitant to renew reinsurance contracts with Lebanese insurance companies — an expected approach in view of the conflict sparked by Hezbollah’s front against Israel. As the year-end approaches, most annual reinsurance agreements for the 40 insurance companies operating in Lebanon are set to expire. Negotiations have been ...

Abboud: Some Foreign Airlines Could Resume Service to BIA

This is Beirut 27/11 15:55 - Reading : 1 minute(s)

Flights MEA Lebanon

The President of the Association of Travel and Tourist Agents in Lebanon, Jean Abboud, has revealed that even though the ceasefire is now in force, Arab and foreign airlines will not be able to resume direct service to Beirut International Airport. He told This is Beirut that Lebanon had “not yet received any information or feedback from ...

Hamiye: Rehabilitation of Masnaa Crossing Has Begun

This is Beirut 27/11 11:20 - Reading : 1 minute(s)

Hezbollah Ali Hamieh Masnaa Lebanon

Caretaker Minister of Public Works and Transport Ali Hamiye posted on his X account that contractors affiliated to his ministry had initiated work to restore and reopen the Masnaa crossing, a key border point between Lebanon and Syria. Masnaa serves as a vital conduit for the transit of people and goods between the two countries, playing a ...

Numbers & FiguresThe Toll of a Devastating Conflict

Christiane Tager 27/11 10:00 - Reading : 4 minute(s)

Lebanon Hezbollah Israel Destruction

Lebanon finds itself once again at the heart of an exorbitantly costly conflict. The war between Israel and Hezbollah is not limited to military confrontation; it inflicts colossal damage on a country struggling to recover. Destroyed infrastructure, a paralyzed economy, and displaced populations — this conflict’s repercussions far exceed the ...

Record Tariffs: Trump Targets China, Canada, and Mexico

This is Beirut 26/11 12:04 - Reading : 3 minute(s)

Donald Trump taxes Canada Mexico China

US President-elect Donald Trump said Monday he intends to impose sweeping tariffs on goods from Mexico, Canada and China, prompting a swift warning from Beijing that "no one will win a trade war." In a series of posts to his Truth Social account, Trump vowed to hit some of the United States' largest trading partners with duties on all goods ...

Kreidieh: “Network is Working Almost Normally”

This is Beirut 26/11 11:40 - Reading : less than a minute

Imad Kreidieh, Managing Director of Ogero, a public telephone and Internet operator, declared on Tuesday that “the network of the Ministry of Telecommunications and Ogero continues to operate almost normally in non-bombed areas.” Kreidieh also assured that if the sea cables were severed, there would be another way for the Lebanese government ...

Numbers & FiguresFigure of the Week: Flames of War Devastate 65,000 Olive Trees

Liliane Mokbel 23/11 12:00 - Reading : less than a minute

United Nations FAO Olive War

The Food and Agriculture Organization of the United Nations (FAO) reports that 70% of the Lebanese agricultural sector has been affected, both directly and indirectly. Thousands of hectares have been completely or nearly destroyed, and 65,000 olive trees have been fully burned due to white phosphorus bombings, which are prohibited under ...

ChronicleBitcoin Nears $100K: Will Trump Boost Crypto?

Maurice Matta 22/11 16:00 - Reading : 3 minute(s)

Donald Trump Republicans White House crypto bitcoin

On Thursday, Bitcoin surged past $98,000, raising its market capitalization to $1.9 trillion. This rally reflects expectations of robust legislative and executive support for the crypto sector, bolstered by Republican victories in the White House and Congress. The cryptocurrency market, including “meme coins” like Dogecoin, continues to surge ...

Hajj Hassan: Aerial Study With FAO Reveals 70% Devastation in Agricultural Sector

This is Beirut 22/11 11:25 - Reading : 1 minute(s)

Economy Agriculture Lebanon

Caretaker Minister of Agriculture Abbas Hajj Hassan highlighted the extensive damage to Lebanon's agricultural sector, estimated at around 70%, based on an aerial study conducted in collaboration with the Food and Agriculture Organization (FAO) to assess the losses. He emphasized that Israeli bombardments have caused significant destruction, ...

Most Asian Markets Track Wall St Gains, Bitcoin Closes on $100,000

This is Beirut 22/11 09:05 - Reading : 3 minute(s)

New York Ukraine USA Vladimir Putin Volodymyr Zelensky White House

Most Asian markets gained Friday after a bounce on Wall Street, while bitcoin continued its march higher to move within touching distance of the $100,000 mark. Rising geopolitical tensions tempered the atmosphere and pushed oil higher after Russia hit Ukraine with a new-generation intermediate-range missile and sent a warning to the West. The ...