Economy

OECD Lowers Global Growth Projections Over 'Trade Barriers' and 'Uncertainty'

This is Beirut 17/03 13:45 - Reading : 2 minute(s)

Donald Trump European Union United States USA Vladimir Putin

The Organisation for Economic Co-operation and Development on Monday lowered its projections for global growth in 2025 due to "trade barriers" and "uncertainty". Trade tensions that have erupted since US President Donald Trump returned to the White House are in part responsible for the dampened growth perspectives, the OECD said. The OECD ...

Millions of Cubans Spend Second Night Without Electricity

This is Beirut 16/03 19:00 - Reading : 3 minute(s)

Cuba Energy

Millions of Cubans were without electricity for a second night Saturday after a widespread blackout hit the island, the fourth in less than six months. Cubans have been facing a serious economic crisis marked by widespread food, fuel, and medicine shortages, and the island's aging and often failing power system has made things worse. The latest ...

Saudi Arabia: Peace Mediator or Economic Strategist?

Christiane Tager 15/03 12:00 - Reading : 3 minute(s)

Saudi Arabia USA Ukraine

By hosting talks between the United States and Ukraine, Saudi Arabia seeks to establish itself as an essential mediator in global affairs. Traditionally recognized as a key player in the energy sector due to its vast oil reserves, the kingdom now aspires to expand its influence beyond energy. By facilitating peace negotiations, it demonstrates its ...

Moody's upgrades Greece credit rating, outlook stable

This is Beirut 15/03 09:40 - Reading : 2 minute(s)

Banks European Union International Monetary Fund

Ratings agency Moody's on Friday upgraded Greece's credit rating, pulling the country out of junk territory after its years of struggling to recover from a debt crisis. Along with the ratings elevation from Ba1 to Baa3, Moody's changed its outlook for Greece from positive to stable. The other two major ratings agencies, S&P and ...

SpotlightKulluna Irada: Millions Spent on Elections and Ongoing Budget Falsification

This is Beirut 15/03 08:15 - Reading : 3 minute(s)

Lebanon Economy Banks

On the surface, there is an intention to build a nation based on institutions, transparency and proper governance. However, in reality, Kulluna Irada has become nothing more than a breeding ground for theft, corruption, deception and falsification, all with destructive objectives for the country. The association, which was originally tasked with ...

Reviving Beirut's Downtown Before the End of March

This is Beirut 14/03 18:20 - Reading : 1 minute(s)

Economic Organizations Downtown Beirut Lebanon

Beirut's downtown is set to be revitalized before the end of March. The President of Economic Organizations, Mohammad Choucair, held a meeting on Friday with Beirut’s mohafez, Marwan Abboud, as well as the city's municipal council president, Abdallah Darwish. The aim of the meeting was to discuss measures to revive Beirut's downtown. ...

Gold tops $3,000 for first time on Trump tariff threats

This is Beirut 14/03 14:30 - Reading : 3 minute(s)

Donald Trump European Union Democrats Republicans United Kingdom

Safe-haven gold surpassed $3,000 for the first time Friday, boosted by uncertainty over US President Donald Trump's tariffs, while stock markets gained on hopes US lawmakers will avert a government shutdown. "Markets hate uncertainty, and Trump's second tenure in the White House has served to provide huge instability over expectations for trade, ...

SpotlightKulluna Irada's Strategy: Writing Off Deposits and the Bankruptcy of Banks

This is Beirut 14/03 08:30 - Reading : 4 minute(s)

Lebanon Economy Banks BDL

Demands for accountability from Kulluna Irada have intensified over its actions in recent years, particularly since the 2019 financial crisis. This includes the decision by former Prime Minister Hassane Diab's government to declare Lebanon bankrupt, its failure to repay debts, and its role in destabilizing the country's monetary and financial ...

SpotlightIMF Mission Concludes Meetings in Beirut

Maurice Matta 13/03 22:40 - Reading : 3 minute(s)

International Monetary Fund Banks Joseph Aoun Banque du Liban Washington

Finance Minister Yassine Jaber made reassuring remarks regarding negotiations with the International Monetary Fund (IMF) following an extensive meeting held at the Ministry of Finance with the IMF mission. During the meeting, Jaber affirmed that the elimination or partial deduction of bank deposits is a sovereign and national decision, ...

Qatar Supplying Natural Gas to Syria via Jordan

This is Beirut 13/03 21:22 - Reading : 3 minute(s)

Qatar Syria Jordan Gas

Qatar has begun funding gas supplies to Syria from Jordan, state media in the Gulf state reported Thursday, as Damascus's new leadership seeks economic relief for the war-torn country. "Qatar has started today providing... natural gas supplies to the Syrian Arab Republic through the territories of the Hashemite Kingdom of Jordan," ...

Engines Revving: A Cautious Rebound for Auto Loans in Lebanon

Christiane Tager 13/03 21:10 - Reading : 2 minute(s)

Lebanon Dollars Loans

After years of economic hardship, Lebanese citizens are finally beginning to see the possibility of replacing their vehicle or purchasing one for the first time. Auto loans, previously halted due to the devaluation of the Lebanese pound, banking restrictions and the financial crisis, are now being offered again, though in a very limited capacity ...

Trump Threatens 200% Tariff on Wine, Champagne from France, other EU countries

This is Beirut 13/03 15:00 - Reading : 2 minute(s)

Donald Trump European Union United States France Tariffs

US President Donald Trump on Thursday threatened to impose 200-percent tariffs on wine, champagne and other alcoholic products from France and other European Union countries in retaliation against the bloc's planned levies on US-produced whiskey. "If this tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all wines, ...