This is Beirut - Economy

Strait of Hormuz: Is Iran Ready to Gamble with Global Energy Stability?

Liliane Mokbel, 15/06 14:40 - Reading : 2 minute(s)

Gulf Israel Strait of Hormuz Iran economy energy

As the Middle East flares up amid mounting tensions between Iran and Israel, one urgent question dominates global attention: Is Tehran ready to close the Strait of Hormuz, a crucial lifeline for the world’s energy supply? On Friday night, Emmanuel Macron sounded a stark warning. In a statement, the French president cautioned, “We must brace ...

Drought: When the Sky Turns Its Back on the Earth

Christiane Tager, 14/06 15:30 - Reading : 3 minute(s)

Lebanon agriculture Economy

Beirut recorded less than 350 mm of rainfall between November and March—well below the annual average of 800 mm—making the winter of 2024-2025 one of the driest in the last 20 years, according to official data. In the Beqaa, a vital agricultural hub, precipitation fell by over 45% compared to the seasonal average. This severe drop disrupted ...

LBP 44.2 Million for a Basic Food Basket

Liliane Mokbel, 14/06 12:00 - Reading : less than a minute

Economy Lebanon World Food Program

According to the World Food Program, the survival food basket has reached LBP 44.2 million, or around $492, an increase of $42 since January. That's how much it now costs for a family of five to cover its basic food needs for a month in Lebanon. This basket, which includes rice, wheat, pulses, oil, sugar, salt and sardines, represents the bare ...

Syria: The New Battleground for Influence and Investment

Liliane Mokbel, 12/06 12:00 - Reading : 3 minute(s)

European Union Saudi Arabia Syria economy reconstruction Lebanon Qatar

The international community appears determined to reintegrate Syria both economically and politically after decades of isolation. This momentum stands in stark contrast to neighboring Lebanon, which fears that Syria’s reconstruction will monopolize international attention, pushing its own geopolitical and economic challenges into the ...

Lebanon’s Public Debt Exceeds $100 Billion

This is Beirut, 11/06 15:40 - Reading : less than a minute

debt lebanon economy

According to official statistics and reports from several local banks, Lebanon's public debt has exceeded the $100 billion mark. This historic level reflects years of accumulated budget deficits, inefficient public management, poor financial governance and a lack of structural reforms. This debt includes both domestic and external debt incurred ...

Lebanon Meets the IMF: An Exercise in Masochism

This is Beirut, 11/06 11:40 - Reading : 4 minute(s)

IMF Lebanon Economy Reform

The latest round of kabuki theater between Lebanon’s government and the IMF has produced what all such high-level summits inevitably do: a mixture of forced smiles, indecipherable jargon, and the vague scent of scorched-earth diplomacy. It also revealed something everyone in the room knew but no one had the courage—or funding—to fix: Lebanon ...

Mullahs Inc.: Inside Iran’s Shadow Banking Network

Mario Chartouni, 10/06 11:40 - Reading : 3 minute(s)

United Arab Emirates US economy sanctions nuclear program Iran Hong Kong

With nuclear talks stalled, Washington has opened a new front in its standoff with Tehran: financial warfare. On Friday, the United States imposed sanctions on more than 30 individuals and entities tied to a sprawling money-laundering network that covertly funnels funds to the Iranian regime. This clandestine financial system — a covert, ...

Gold in Uncertain Times: Jewelry vs. Bullion

Liliane Mokbel, 07/06 15:30 - Reading : 2 minute(s)

Gold Economy Jewelry bullion

In times of crisis, gold stands as the ultimate pillar of stability. Timeless, reassuring and resistant to passing trends, it shines brighter as financial markets falter. But a critical question remains: which form of gold offers better protection in turbulent times — jewelry or bullion? And is resale truly profitable? Historically, when ...

In Search of Lebanon’s Financial and Economic Taif Agreement

Johnny Kortbawi, 03/06 18:40 - Reading : 2 minute(s)

Banks Central Bank of Lebanon economy finance

Lebanon’s economic crisis cannot be measured solely by the six years since its visible eruption in September 2019. Its roots extend much further back—to 1992 and the first government formed after the Taif Agreement. This period marked the beginning of Lebanon’s modern economic policies, shaped by the country’s financial establishment with ...

Stocks Track Wall St Sell-Off as US Deficit Fears Grow

This is Beirut, 22/05 10:50 - Reading : 5 minute(s)

USA Donald Trump Economy Bitcoin

Equities sank and Treasuries remained under pressure following sharp losses on Wall Street fuelled by US economy fears as Donald Trump tries to push through fresh tax cuts that could balloon the already huge deficit. A weak auction of 20-year US government debt flashed a warning sign that the bond market was worried about the country's finances, ...

Will Banking Reforms Spark a Crisis Between Souhaid and Salam?

Maurice Matta, 21/05 20:10 - Reading : 4 minute(s)

Lebanon Economy Banks Karim Souhaid Nawaf Salam

It seems that the relationship between Banque du Liban (BDL) Governor Karim Souhaid and Prime Minister Nawaf Salam is far from ideal. In fact, it can be described as tense – a situation that didn’t arise recently but dates back to Souhaid’s appointment as Governor of the Central Bank, which was secured through a majority vote in the ...

USJ and HDF to Open Groundbreaking Healthcare Facility in Limassol

Liliane Mokbel, 14/05 13:40 - Reading : 2 minute(s)

Lebanon Cyprus Economy Medical Healthcare

Hôtel-Dieu de France (HDF), Lebanon’s premier university hospital, is expanding to Limassol, Cyprus, with an ambitious project that will feature a state-of-the-art medical center and a faculty of medicine affiliated with Saint Joseph University (USJ). This strategic initiative is designed to meet the growing demand for specialized healthcare ...