This is Beirut 2024-12-11 17:45 - Reading : less than a minute
The Association of Lebanese Industrialists (ALI), led by Salim al-Zeeni, has launched a new initiative in collaboration with the International Labour Organization (ILO) to connect the capabilities of Lebanese industrialists with the needs of non-governmental organizations (NGOs) working to assist displaced populations. The initiative aims to ...
This is Beirut 2024-12-11 13:24 - Reading : 1 minute(s)
Zara owner Inditex posted another record quarterly profit on Wednesday as strong online and in-store sales gave the world's biggest fashion retailer a boost. The Spanish group, whose other brands include Massimo Dutti, Pull & Bear and Bershka, reported a profit after tax of 1.68 billion euros ($1.77 billion) for the third quarter, up six percent ...
Christiane Tager 2024-12-11 10:49 - Reading : 3 minute(s)
The license granted by the ministry allows TGS to conduct a comprehensive 3D seismic study spanning 1,300 square kilometers, making Block No. 8 the only block among Lebanon's ten offshore blocks to undergo such a survey for the first time. In his address, caretaker Minister of Energy Walid Fayad described this development as a pivotal milestone ...
This is Beirut 2024-12-10 22:40 - Reading : 3 minute(s)
According to the latest World Bank (WB) report on Lebanon’s economy (LEM), published on Tuesday, Lebanon’s real GDP growth was reduced by approximately 6.6% in 2024 due to the conflict between Hezbollah and Israel, bringing the cumulative decline in real GDP since 2019 to over 38%. This growing contraction reflects the devastating impact of ...
Liliane Mokbel 2024-12-10 16:30 - Reading : 2 minute(s)
Syria Reconstruction Caesar Act
According to estimates from various UN and international sources, Syria's reconstruction could yield benefits for all. However, these prospects remain uncertain and far from guaranteed. With the country still reeling from the war that followed the 2011 uprising, Syria's reconstruction is shaping up to be a lengthy and costly process, but it ...
Liliane Mokbel 2024-12-08 13:10 - Reading : 2 minute(s)
Following the collapse of Bashar al-Assad's regime, Syria is left with a crumbling economy, shaped by decades of state control and average wages barely surpassing $40 per month. The country’s economic prospects now depend largely on the removal of American and Western sanctions, as well as financial assistance from the international community. ...
This is Beirut 2024-12-07 14:05 - Reading : 1 minute(s)
The Nasdaq and the S&P hit fresh records on Friday after the November US jobs report came in better than expected, with the Dow edging down. The world's biggest economy gained 227,000 jobs in November, up from a revised 36,000 in October, according to the Department of Labor. "It's kind of being viewed as a Goldilocks jobs print," Tom Cahill ...
Liliane Mokbel 2024-12-07 12:00 - Reading : less than a minute
The hotel occupancy rate in Beirut has fallen below 10%, while in other regions, it is approaching 0%, according to Pierre Achkar, president of the Union of Syndicates of Tourist Establishments in Lebanon. "Arab countries continue to boycott Lebanon, and European nations do not anticipate a swift return of their citizens. A mandatory waiting ...
This is Beirut 2024-12-07 10:00 - Reading : 1 minute(s)
Lebanon Economy Reconstruction
This is probably the reality Lebanon will have to face. With the end of the war, the countdown has begun, including an assessment of damages estimated at $6 billion and the initiation of reconstruction. The productive and economic sectors will have the opportunity for a significant recovery, starting with the laying of the cornerstone on the site ...
This is Beirut 2024-12-06 20:35 - Reading : 1 minute(s)
The Establishment of The Water of Beirut and Mount Lebanon (EBML) has urged its subscribers to settle their fees for the current year (2024). Payments can be made at water office branches or through the Online Money Transfer SAL (OMT) service. Bank card payments are accepted at the water office branches. However, the EBML noted that, due to ...
This is Beirut 2024-12-06 20:25 - Reading : 2 minute(s)
Lebanon's telecommunications sector has suffered significant damage due to Israeli bombings, with initial estimates placing the losses at $117 million. This was revealed by the caretaker Minister of Telecommunications, Johnny Corm, in an interview with Sputnik. Corm explained that the estimated figures range between $88 million and $117 million, ...
Liliane Mokbel 2024-12-06 18:45 - Reading : 3 minute(s)
Central Bank of Lebanon Dollar Bills Counterfeit
Are counterfeit dollar bills circulating in the market? If so, it's clear that this issue is not limited to Lebanon but also affects other global markets. However, the Lebanese are particularly sensitive to it due to the country's economic crisis, which has left the cash economy in a fragile state, all amid a "neither peace nor war" situation ...