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 ...
This Is Beirut 2024-04-04 21:26 - Reading : less than a minute
The Cabinet approved on Thursday an increase of the minimum wage in the private sector to 18 million Lebanese pounds, as well as a 100% increase in school allowances. Thus, the minimum wage rises from 9 to 18 million pounds, fully declared to Social Security and integrated into the basic salary. With regard to school allowances, for the children ...
2024-04-04 19:01 - Reading : 3 minute(s)
The Cabinet has approved the amount of 880 billion Lebanese pounds for salary increases over the next three months for employees of Ogero, Lebanon's public telecommunications and internet provider. While trying to remain optimistic, the employees' union maintains its deadline of April 15 for the government to meet all of its demands. As ...
This Is Beirut 2024-04-03 17:05 - Reading : less than a minute
The Ministry of Finance announced, in a press release on Wednesday, that it had transferred all civil servants' salaries and retirees' pensions to the Banque du Liban (BDL). Those concerned will be able to collect them from private banks starting Friday morning, April 5. Of note, the Ministry transferred the salaries of military personnel in the ...
This Is Beirut 2024-04-03 17:02 - Reading : less than a minute
Caretaker Minister of Energy Walid Fayad affirmed on Wednesday that "the structural situation of the energy sector has clearly improved." In an interview with LBCI TV channel, he asserted that "the sector could now move in the right direction." "In terms of tariffs, subsidies have been removed, and the foundations have been laid for financial ...
Nicolas Sbeih 2024-04-03 11:55 - Reading : 4 minute(s)
Lebanon has unfortunately become one of the worst countries for investment. It's as if we intentionally sought this. There's no other way to explain it. Our "country risk" was often already problematic. But now, as the crisis engulfs us, even the slightest attempt to start any business has become an uphill battle. The obstacles are surely known to ...
2024-04-02 23:05 - Reading : 2 minute(s)
The Ogero employees' union will observe a second warning strike on Wednesday, April 3, and Thursday, April 4, within a week. It has granted the government "a deadline until April 15 to respond to all its salary demands, without exception." These demands will be discussed at the next Council of Ministers meeting. All Ogero centers and offices will ...
This Is Beirut 2024-04-02 20:26 - Reading : less than a minute
Gold prices nailed another historic peak Tuesday and oil extended gains over rising tensions in the Middle East, while stocks wilted as traders worried whether the rally has run its course. The haven precious metal advanced as high as $2,266.85 per ounce, gaining 0,5% in morning London deals to extend its blistering record-breaking run, driven ...
This Is Beirut 2024-04-02 19:03 - Reading : 3 minute(s)
The Secretary-General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, stated that the role of the state and its financial institutions are aggravating Lebanon's financial crisis. Khalaf stated, “A series of measures and initiatives undertaken are in direct conflict with fundamental principles of international law, including the United ...
This Is Beirut 2024-04-02 15:10 - Reading : 1 minute(s)
Are private school teachers heading for another strike to demand improved pay and pensions? The president of the private school teachers' union, Nehme Mahfoud, assured on Tuesday that teachers will not be able to continue working next year with current salaries in light of "the scandalously high prices and taxes imposed by the budget." He ...
This Is Beirut 2024-04-01 11:30 - Reading : 1 minute(s)
Gold hit another fresh record high Monday as investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report. The precious metal has enjoyed healthy buying interest this year as the US central bank hints at an easing of credit conditions. It hit a new high of ...
This Is Beirut 2024-03-30 10:30 - Reading : 2 minute(s)
The International Monetary Fund announced on Friday the immediate disbursement of $820 million to the Egyptian government, part of an augmented plan to aid the nation's stumbling economy. The IMF's Executive Board validated the payment as part of a $3 billion aid program granted at the end of 2022. The IMF action, repeatedly postponed and ...