2023-12-07 12:24 - Reading : 3 minute(s)
While initial projections for the year-end holidays looked promising, stakeholders in the tourism and restaurant industries are currently expecting a somewhat muted festive season. The recent escalation of the conflict between Hamas and Israel, with its repercussions in southern Lebanon, has considerably disrupted the situation. Nevertheless, ...
2023-12-07 09:30 - Reading : 2 minute(s)
The Acting Governor of the Lebanese Central Bank (BDL), Wassim Mansouri, stated that, as far as he is concerned, Circular 151 is obsolete. This circular determines the exchange rate for one dollar at 15,000 Lebanese pounds and sets a monthly withdrawal limit of $1,600, which is equivalent to 24 million Lebanese pounds. Circular 151 initially set ...
This Is Beirut 2023-12-06 21:02 - Reading : 4 minute(s)
The parliamentary Finance and Budget Committee, chaired by MP Ibrahim Kanaan, met on Wednesday to continue its examination of the draft budget for fiscal year 2024. The draft, which was approved by the Council of Ministers on September 12, is currently before Parliament for final approval. After completing the study of the articles of the draft ...
This Is Beirut 2023-12-06 19:51 - Reading : 2 minute(s)
Eleven Lebanese banks have tied up the dispute by submitting a memorandum to the Ministry of Finance to compel the state to fulfill its legal and contractual obligations toward Banque du Liban. Eleven banks, namely, in alphabetical order: Bank Audi, Bank of Beirut SAL, Banque Libano-française SAL, Banque Libano-suisse SAL, Banque du Crédit ...
Liliane Mokbel 2023-12-05 23:14 - Reading : 2 minute(s)
Activity in the land registry services of Mount Lebanon has been at a standstill since October 2022, after a period of slow operation dating back to early 2020. More than 50,000 land registration formalities in this mohafazat are languishing in drawers. A nightmare for the Lebanese. Real estate transactions are on hold in the land registry ...
This Is Beirut 2023-12-05 20:37 - Reading : less than a minute
Lawyers for 11 Lebanese banks filed a memorandum on Tuesday, calling on the Ministry of Finance to compel the Lebanese State to immediately pay the Central Bank (BDL) the sums it owes. The banks are taking this action because they are BDL creditors and are wronged by its inability to demand repayment of the Lebanese State's debts. The State must ...
This Is Beirut 2023-12-05 13:49 - Reading : 1 minute(s)
Caretaker Minister of Energy Walid Fayad continues his participation in the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP 28), which is running until December 12 in Dubai. On Tuesday morning, he took part in a dialogue session on energy efficiency in buildings organized by the Regional Center for Renewable ...
This Is Beirut 2023-12-05 13:36 - Reading : less than a minute
The Consumers' Association announced in a press release that the prices of goods and consumer goods rose by 22% in the third quarter of 2023, compared with the second quarter of the same year. It said that "despite the stability of the dollar exchange rate at 89,000 pounds, the prices of 140 goods and services that form the basis of life for the ...
This Is Beirut 2023-12-04 20:52 - Reading : 1 minute(s)
During his participation in the fifth Union for the Mediterranean (UfM) Trade and Investment Forum in Brussels, Mohammad Abou Haidar, the Director General of the Ministry of the Economy, held meetings with officials from the European Commission’s Directorate General for Trade and the Directorate General for Taxation and Customs Union. The ...
This Is Beirut 2023-12-04 19:43 - Reading : 1 minute(s)
The Parliamentary Finance and Budget Committee, chaired by MP Ibrahim Kanaan, completed the study of the articles of the draft budget for the year 2024 on Monday and will start examining the budgets allocated to various administrations on Wednesday. The committee, which met on Monday, rejected the surcharges and new taxes proposed by the ...
Antoine Menassa 2023-12-04 17:06 - Reading : 2 minute(s)
We are currently witnessing unhealthy and, in any case, illegal attempts to cover the debts of Lebanon’s Central Bank (BDL). Unhealthy, because by adopting a balancing act, an attempt is being made to unjustly designate a scapegoat to bear the burden of the State's obligations to BDL, which amount to $72 billion... How? By highlighting the ...
This Is Beirut 2023-12-04 12:51 - Reading : 1 minute(s)
The price of gold broke its all-time high on Monday, reaching more than $2,100 per ounce (31.1 g), as traders bet on a cut in interest rates from the US Federal Reserve (FED) next year, following statements by FED boss Jerome Powell, who announced on Friday that rates are "well into restrictive territory," fanning hopes that the bank could begin ...