Nicolas Sbeih 2024-04-11 17:52 - Reading : 4 minute(s)
Houses continue to crumble, people are succumbing beneath the rubble, and the olive fields, a lifelong toil, are turning to ash. No one cares, except the Minister of Economy who reduced it all to abstract figures: damages, he claims, are estimated between 7 and 10 billion dollars. But the minister who aims to be the Great Vizier, did not dare see ...
2024-04-10 20:32 - Reading : 3 minute(s)
Since the beginning of the year, the price of gold has been skyrocketing, driven by expectations of a decline in interest rates by the US Federal Reserve, which boosts the yellow metal, alongside substantial purchases by China. On Wednesday, gold was trading at $2,354.22 per ounce, marking a surge of about 15% in just one year. Gold remains a safe ...
2024-04-09 14:00 - Reading : 3 minute(s)
Millions of practicing Muslims have observed fasting throughout the concluding days of Ramadan. Beyond its sacred significance, Ramadan heralds a surge in consumption, presenting a lucrative opportunity for businesses in the food and hospitality sectors, especially in Lebanon, where the economic situation is far from stable. While Ramadan is a ...
Maurice Matta 2024-04-08 16:28 - Reading : 5 minute(s)
The European Union's stance is in line with that of the International Monetary Fund (IMF) regarding recent indications and developments in Lebanon, including the passage of the 2024 budget within constitutional deadlines, reforms to banking secrecy laws and stabilization of the exchange rate in the parallel market. These developments signal that ...
Maurice Matta 2024-04-07 12:00 - Reading : 6 minute(s)
Today, April 7, marks the second anniversary of the agreement signed between the Lebanese government and the International Monetary Fund (IMF) delegation at the Presidential Palace in the presence of former President Michel Aoun. The signing took place under his auspices, as he exercised his constitutional prerogative. As president, he is ...
2024-04-06 15:16 - Reading : 2 minute(s)
The money supply experienced phenomenal growth in Lebanon within one month, increasing by 439% between December 2023 and January 2024. What are the reasons for this, and what does it signify? A recently published report revealed that Lebanon has experienced a significant increase in the circulating money supply, which multiplied by more than five ...
This Is Beirut 2024-04-06 14:59 - Reading : 1 minute(s)
The Caretaker Minister of Economy, Amin Salam, set off for Washington on Saturday to participate in the annual spring meetings of the World Bank (WB) at its headquarters. Salam's itinerary includes a series of meetings with key figures in the US administration, spanning across various departments such as the Departments of State, Treasury, ...
This Is Beirut 2024-04-05 20:53 - Reading : 1 minute(s)
The PMI (Purchasing Managers Index), published by BlomInvest, reached 49.4 points in March compared to 49.1 the previous month. This slight improvement demonstrates a certain flexibility in the local market. Commenting on this figure, BLOM Invest analyst Stephanie Aoun indicated that the PMI recorded a slight increase, primarily due to the ...
This Is Beirut 2024-04-05 15:37 - Reading : less than a minute
Caretaker Minister of Finance Youssef el-Khalil issued a decision on Friday clarifying the tax treatment of interest paid by taxpayers. Accordingly, income taxpayers who pay interest must declare this interest quarterly and pay the tax due within 15 days of the end of each quarter, after deducting tax at the rate of 17% on 50% of this ...
This Is Beirut 2024-04-05 15:22 - Reading : 2 minute(s)
The European Union has insisted on the priority for Lebanon to implement "agreed key reforms (as part of the agreement signed with the International Monetary Fund in 2022)" in order to restore the trust of international actors and Lebanese citizens in the financial system" and help "avoid Lebanon being trapped in a perpetual cycle of ...
This Is Beirut 2024-04-05 14:30 - Reading : less than a minute
During its meeting on Thursday, the Council of Ministers approved the request made by the Banque de l'Habitat (BDH) for a subsidized loan from the Abu Dhabi Development Fund. The government agreed to entrust the Council for Development and Reconstruction (CDR) with the task of contacting the Abu Dhabi Fund for Development and requesting a loan for ...
This Is Beirut 2024-04-05 13:11 - Reading : 1 minute(s)
On Thursday, the Council of Ministers approved an increase in the minimum wage in the private sector to LBP 18 million, as well as a 100% increase in school allowances. Thus, the minimum wage rises from LBP 9 to 18 million, fully declared to the National Social Security Fund and integrated into the basic salary. Regarding school allowances, for ...