This Is Beirut 2024-07-24 13:18 - Reading : 1 minute(s)
The credit rating agency, Fitch Ratings, has maintained Lebanon's rating at “restricted default” (RD) on its long-term foreign currency public debt, as a result of the default on the Eurobonds due March 9, 2020. On Tuesday, the American International Financial Rating Agency maintained Lebanon's rating at RD, indicating Lebanon’s ongoing ...
Mario Chartouni 2024-07-23 16:00 - Reading : 4 minute(s)
Financial jargon is filled with terms borrowed from English that can seem complex at first glance. One such term is “commodities,” which refers to raw materials (RMs) traded as financial instruments on the stock market. Alternatively, if you have ample storage space, it can also mean physical goods. The aim here is to closely examine this type ...
Maurice Matta 2024-07-23 11:46 - Reading : 3 minute(s)
Since August 1, 2023, Lebanon’s Central Bank (BDL) liquid foreign currency reserves have steadily increased from $8.573 billion to $9.9 billion by June 2024, marking an average monthly growth of $120 million under the new leadership. This development occurs under Lebanon's Central Bank policy of not financing the government with currencies, ...
This Is Beirut 2024-07-22 17:59 - Reading : 1 minute(s)
Secretary General of the Association of Banks in Lebanon (ABL) Fadi Khalaf said, in the preamble of the association's monthly report titled “The return of loans will contribute to the recovery of deposits,” that restoring the banking sector's normal role, particularly in the field of credit, is essential to getting the Lebanese economy moving ...
This Is Beirut 2024-07-22 16:59 - Reading : less than a minute
The Central Administration of Statistics (CAS) reported on Monday that the consumer price index in Lebanon for the month of June 2024 recorded an increase of 0.28% compared with May 2024. A very moderate increase compared with the leaps recorded during the months of 2023, such as 33.27% in March and 5.35% in May. Moreover, the index rose by ...
This Is Beirut 2024-07-21 12:37 - Reading : 1 minute(s)
Iraq said on Sunday that a new power line will bring electricity from Turkey to its northern provinces as authorities aim to diversify the country's energy sources to ease chronic power outages. The 115-kilometre (71-mile) line connects to the Kisik power station west of Mosul and will provide 300 megawatts from Turkey to Iraq's northern ...
This Is Beirut 2024-07-19 19:16 - Reading : 1 minute(s)
Caretaker Prime Minister Najib Mikati, on Friday, sponsored the launch of the “Plan for the Development of the Fishing and Aquaculture Sector” by the Agriculture Ministry, at the Grand Serail. The ceremony was attended by several ministers, including Agriculture Minister Abbas Al Hajj Hassan, and a number of ambassadors, heads of diplomatic ...
This Is Beirut 2024-07-19 18:53 - Reading : less than a minute
The Association of Lebanese Industrialists, represented by its president, Salim Zeenni, and the Beirut Port Management and Investment Committee, represented by Beirut Port General Manager, Omar Itani, signed a memorandum of understanding on Friday, aiming to develop a cooperation framework between the two parties to support the industry and ...
Nicolas Sbeih 2024-07-18 10:00 - Reading : 4 minute(s)
Laurence Peter was not really a cynical man at heart. He was a simple, competent Canadian educator, mainly serving at the University of Southern California, and passed away in 1990. However, in the meantime, he upset the administrative and business world with The Peter Principle, a book published in 1960 that was translated into 38 ...
Liliane Mokbel 2024-07-17 20:46 - Reading : 4 minute(s)
The Ministry of Finance has directed the Association of Banks in Lebanon (ABL) to notify its members to provide a list of their clients, individuals and entities, including names, addresses and tax registration numbers, who have repaid their debts in bank dollars or lollars. This request is based on provisions of tax procedural law and aims to ...
This Is Beirut 2024-07-16 16:38 - Reading : 1 minute(s)
Hani Bohsali, President of the Union of Food Importers, assured on Tuesday that food prices would remain stable. In a statement, he described some reports of a rise in food prices due to the continuing rise in sea freight costs as a result of tensions in the Red Sea and the continuing Russian-Ukrainian war, as “exaggerated.” Bohsali stressed ...
This Is Beirut 2024-07-16 14:42 - Reading : less than a minute
Caretaker Finance Minister, Youssef Khalil, on Tuesday, reiterated his ministry’s “commitment to submitting the 2025 budget within constitutional deadline.” In an administrative meeting devoted to assessing the stages reached in preparing the budget, in light of meetings with economic officials and international donors, Khalil reaffirmed ...