This Is Beirut 2024-06-21 12:43 - Reading : less than a minute
The Central Administration of Statistics (CAS) reported on Friday that Lebanon's Consumer Price Index (CPI) for May 2024 increased by 0.02% compared to April 2024. This rise is notably modest in contrast to the significant increases recorded in 2023 (33.27% in March and 5.35% in May). CAS further specified in their statement that the CPI showed a ...
This Is Beirut 2024-06-20 19:57 - Reading : 2 minute(s)
The Foreign Affairs and Expatriates Committee held a session on Thursday, focused on the findings of a recent World Bank report on the economic and financial repercussions of the Syrian war and the ensuing displacement on Lebanon. The document was presented by World Bank Country Director for the Middle East Department Jean-Christophe Carret. It ...
Liliane Mokbel 2024-06-20 13:24 - Reading : 2 minute(s)
Is this the beginning of the end of the US dollar's hegemony in the world? This is a legitimate question, given Saudi Arabia's refusal to renew its petrodollar agreement with the United States. This half-century-old agreement has made the US dollar a powerful force in the world of finance. Signed on June 8, 1974, between the United States ...
2024-06-19 21:35 - Reading : 2 minute(s)
Despite a very tense situation in southern Lebanon, expatriates were present to celebrate the Adha holiday in Lebanon. Planes were fully booked; guest houses, restaurants, and concerts were also full. This offers a promising preview of the summer season, a cornerstone of the Lebanese economy. Lebanese expatriates are determined, come hell or high ...
This Is Beirut 2024-06-17 22:01 - Reading : 4 minute(s)
Stock markets edged higher on both sides of the Atlantic on Monday despite fading hopes for United States interest rate cuts and worries about political upheaval in Europe, while oil prices rose. Eurozone stocks finished higher while London's blue-chip FTSE 100 dipped into the red. "European markets have risen off the lows of last week but ...
This Is Beirut 2024-06-17 14:27 - Reading : 2 minute(s)
The caretaker Minister of Energy and Water, Walid Fayad, said on Monday that studies had begun for the construction of two renewable energy plants by early 2025. He pointed out that there are 11 licenses for the construction of renewable energy plants, saying that CMA CGM has purchased two and has begun studies to build two renewable energy ...
Liliane Mokbel 2024-06-15 18:15 - Reading : 3 minute(s)
A 17% tax will be applied on profits from transactions carried out by individuals and companies on Sayrafa, the exchange platform of Lebanon’s Central Bank (BDL). The taxable profits are those derived from operations exceeding $15,000 in 2022 and 2023. The decision by Caretaker Minister of Finance Youssef Khalil comes as part of the ...
2024-06-15 09:00 - Reading : 2 minute(s)
On Friday, Middle East Airlines (MEA) received its tenth and last Airbus A321 Neo aircraft. It landed at Beirut International Airport at around 2:00 PM, coming directly from the Airbus factories in Hamburg, in the presence of the Caretaker Minister of Transport and Public Works, Ali Hamiye. Despite an unprecedented economic crisis and severely ...
Liliane Mokbel 2024-06-13 19:14 - Reading : 2 minute(s)
The issue of rents for residential units and commercial spaces remains unresolved. Owners and tenants are navigating between new and old leases. The interpretation of laws is causing division among legal professionals and judges alike. Owners are reluctant to rent out their real estate properties, and potential tenants are hesitant to commit to a ...
2024-06-12 12:56 - Reading : 3 minute(s)
Last November, the Council of Ministers decided to extend and renegotiate the management contract for the postal sector with LibanPost, which had expired in 2019 and had since been tacitly renewed. However, on July 13th, French shipping company CMA CGM won the tender launched by the Ministry of Telecommunications through the Merit-Colis Privé ...
This Is Beirut 2024-06-11 22:13 - Reading : 1 minute(s)
Referring to the investment climate in Lebanon, Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said that while his group is keen to invest in Lebanon, and is doing so in several areas, the political situation needs to be stabilized. In particular, it is imperative to elect a president, form a new government and implement reforms that are ...
This Is Beirut 2024-06-11 20:40 - Reading : 1 minute(s)
The Ministry of Finance has begun settling public institutions' outstanding electricity bills with Électricité du Liban (EDL). The public electricity supplier announced in a statement that it had been informed on June 6 that the Ministry of Finance had begun paying the amounts due on bills from the General Directorate of the Presidency of the ...