This Is Beirut 2024-05-07 20:30 - Reading : 2 minute(s)
The Electricité du Liban (EDL) employees' union declared a warning strike on Tuesday, closing all centers from Wednesday, May 8, until Friday, May 10. The decision was taken following a meeting at which a series of employees' financial entitlements were reviewed. In a statement, the union railed against the management, accusing it of ...
This Is Beirut 2024-05-07 13:53 - Reading : 1 minute(s)
The World Bank (WB) Managing Director of Operations, Anna Bjerde, has embarked on a two-day visit to Lebanon, aimed at engaging with stakeholders regarding the latest socio-economic developments in the country. This visit underscores the World Bank’s unwavering support for Lebanon during these challenging times. Accompanying her is Ousmane ...
Liliane Mokbel 2024-05-03 20:47 - Reading : 3 minute(s)
With porous land borders and a cash-based economy steadily growing, Lebanon undoubtedly deserves to be blacklisted by the FATF. But will it be? The Financial Action Task Force (FATF) will hold its last meeting for its annual exercise in June, which starts in July each year and ends in June of the following year. Lebanon is awaiting its verdict, ...
2024-05-03 16:22 - Reading : 5 minute(s)
Industries have watched their electricity bills skyrocket, yet they're not seeing a sufficient increase in power supply! They’re witnessing what they call a grinding “bazaar” that has unfolded since the introduction of the new billing system and the installation of smart meters. Invoices crisscross, accumulate, multiply... Is Électricité ...
2024-05-02 23:28 - Reading : 2 minute(s)
Bank Audi has published its economic report for the first quarter of 2024, highlighting that economic and monetary conditions indicate a recession in the real economy, attributed to the repercussions of the war on Lebanon's southern border. However, the LBP has remained stable against the dollar, offering a degree of monetary stability despite ...
Liliane Mokbel 2024-05-02 11:22 - Reading : 3 minute(s)
The fundamental principle of asset diversification remains unshakable despite the speculative fever surrounding a short-term surge in gold prices, with experts predicting a peak of $2,800 per ounce by the end of 2024. Lebanese investors have turned to gold since the onset of the multidimensional crisis in October 2019, even though the yellow ...
Nicolas Sbeih 2024-05-01 20:18 - Reading : 3 minute(s)
Some countries require caretaking. They need someone else to manage not only an exceptional situation, but also their day-to-day life. This pattern recalls the period of mandates, all born after the First or Second World War – initiatives meant to build a state that wasn't there, or to organize a country that was barely so. Our French ...
This Is Beirut 2024-05-01 13:25 - Reading : less than a minute
Caretaker Public Works Minister Ali Hamiye raised the alarm on Wednesday about GPS signal jamming, which is putting civil aviation at risk. Speaking at the meeting of the International Civil Aviation Organization (ICAO) at Punta Cana in the Dominican Republic, Hamiye pointed out that “the jamming is carried out by the Israeli Army continuously, ...
This Is Beirut 2024-04-30 12:13 - Reading : less than a minute
Caretaker Minister of Energy Walid Fayad emphasized in a recent interview with the LBCI television channel that progress in the electricity sector plan is positive, but lamented its slow pace. He underscored the lack of attention from politicians and decision-makers towards the energy sector, stressing its critical role in the economy. “The ...
This Is Beirut 2024-04-29 18:03 - Reading : less than a minute
The Federation of Syndicates of Banks' Employees in Lebanon strongly rejected the government's proposed plan to restructure the banking sector. Discussion of the proposed draft law aimed at addressing Lebanon's banking crisis and the government's proposed restructuring measures took place on Monday in a meeting organized by the Federation in ...
This Is Beirut 2024-04-29 13:00 - Reading : less than a minute
Caretaker Minister of Agriculture Abbas Hajj Hassan issued a decision on Monday concerning onion and potato imports from Egypt. He stipulated that these must be subject to a prior import permit within the time limit set by the decree "for importing certain types of vegetables and fruit during specific periods." The statement confirms that this ...
This Is Beirut 2024-04-29 12:52 - Reading : 2 minute(s)
In its report on "Lebanon's Poverty Outlook," the World Bank (WB) considers that the budget for fiscal year 2024 represents "a missed opportunity to adopt the necessary changes to the budget and fiscal policy," even though the latter plans to reduce the budget deficit to zero and achieve revenues of 17.3% of gross domestic product (GDP) in ...