This is Beirut - Economy

Writing Off Banks’ Capital Wipes Out Deposits

This is Beirut, 06/11 18:20 - Reading : 3 minute(s)

Lebanon Central Bank Karim Souhaid Yassine Jaber Economy Banks

The Governor of the Central Bank of Lebanon, Karim Souhaid, clarified the situation by declaring that Lebanon’s crisis is not purely a financial one but rather a systemic crisis in which the banking sector has become a victim. This is what Souhaid stated clearly during the parliamentary session dedicated to discussing the 2025 budget draft, ...

Syrians Furious at Major Hike in Electricity Prices

This is Beirut, 06/11 13:55 - Reading : 3 minute(s)

Syria electricity poverty economy

In his workshop near the Syrian capital, Ghassan Aama is at a loss following a recent decision to massively hike electricity prices, even as much of the country continues to face extensive outages. Last month, the energy ministry raised prices by at least 60 times compared to the previous tariff, sending shockwaves through a population already ...

Where Were You, Samir Hammoud?

This is Beirut, 05/11 16:35 - Reading : 1 minute(s)

Lebanon Banks Economy

High-level banking sources were surprised by comments made by the senior adviser to the Minister of Finance, Yassine Jaber, to the “Al-Markaziya” outlet regarding depositors’ accounts. According to Samir Hammoud’s statement, “If there are irregularities in depositors’ accounts, there are also irregularities in banks’ ...

Copper Price Hits Record High on US-China Hopes of Trade Truce

This is Beirut, 29/10 13:20 - Reading : 1 minute(s)

USA China Copper Economy Trade

The price of copper reached a record high in trading Wednesday, the industrial metal boosted by hopes of a truce in the US-China trade war. Copper hit $11,143 a tonne on the London Metal Exchange, also on concerns about tight global supply as a major mine in Indonesia remains shut following a deadly mudslide last month. The new high beat the ...

Amazon Says Cutting 14,000 Jobs Globally

This is Beirut, 28/10 13:25 - Reading : 1 minute(s)

Amazon AI Jobs economy

US online retail giant Amazon said Tuesday that it is eliminating 14,000 jobs to streamline its operations as it invests in artificial intelligence, without saying where the cuts will come. Amazon said in a statement the reductions were a "continuation" of its efforts "to get even stronger by further reducing bureaucracy, removing layers, and ...

Saudi Hosts World's Business Elite with Eyes on Gigaprojects, AI

This is Beirut, 28/10 09:05 - Reading : 3 minute(s)

Gulf Middle East Saudi Arabia Investment Economy FII

Saudi Arabia welcomes heads of state and the global business elite at a major investment conference this week as it seeks support for its sprawling "gigaprojects" and sky-high AI ambitions. Chinese Vice President Han Zheng, joined by several ministers and more than 150 business leaders, and Syria's interim president are among the guests at the ...

Trump Says He Won't Meet with Canada 'For a While,'

This is Beirut, 27/10 13:45 - Reading : 2 minute(s)

Donald Trump United States Canada Economy

US President Donald Trump said on Monday that he would not meet with Canada "for a while," as Prime Minister Mark Carney offered an olive branch to resume trade talks. Trump announced he would be hiking tariffs on Canadian goods by an additional 10 percent and terminated all trade talks following what he called a "fake" anti-tariff ad campaign ...

Syria Urges Banks to Provision Their Claims on Lebanon

Liliane Mokbel, 23/10 17:20 - Reading : 2 minute(s)

Banks Damascus Syria Lebanon economy

The Central Bank of Syria has given domestic banks a six-month deadline to fully provision their claims on the Lebanese banking sector, estimated at $1.6 billion, according to a circular cited by Reuters. The directive does not specify the exact nature of these claims – whether deposits, placements or financial investments – making their ...

Consumer Price Index Up 0.6% in September

This is Beirut, 21/10 18:00 - Reading : less than a minute

South Lebanon Economy

Lebanon’s Consumer Price Index rose 0.6% in September 2025, compared with August 2025, according to official data. Year-on-year inflation reached 15.06%. At the governorate level, monthly increases varied significantly: Mount Lebanon, +0.90%; Beqaa, +0.69%; Nabatieh, +0.64%; Beirut, +0.27%; South Lebanon, +0.22%; and North Lebanon, ...

Cocoa: Has the Sweet Boom Come to an End?

Christiane Tager, 18/10 16:00 - Reading : 3 minute(s)

economy cocoa

The frenzy that gripped the cocoa market seems to be fading. In December 2024, the price per ton hit nearly $12,000, a historic high driven by fears of a worldwide shortage. However, since the summer of 2025, prices have dropped below $6,000, reaching their lowest point since February 2024, according to Bloomberg. This shift signals the end of a ...

Global Markets 2025: From Soaring Peaks to Sudden Crashes

Christiane Tager, 17/10 12:15 - Reading : 2 minute(s)

International Monetary Fund Markets economy stocks

Since January, major stock indices such as the S&P 500, Nasdaq and Euro Stoxx have shattered records. Fueled by surging optimism around artificial intelligence, global finance seems to be reliving its golden era. Yet beneath this spectacular rise, the ground is quaking. Every peak is followed by a dark day. In just hours, billions of dollars could ...

Gold Rush in Lebanon: Between Speculation and Shortages

Liliane Mokbel, 15/10 16:50 - Reading : 2 minute(s)

Turkey Lebanon economy gold silver

Lebanese buyers are increasingly turning to precious metals, especially gold and silver, whose international prices have been climbing steadily to record highs. These days, it can take up to a week to obtain a gold bar and nearly two weeks for a kilogram of silver. A few weeks ago, people had to spend over an hour in line to make a purchase. The ...

Economy