This is Beirut, 2024-12-12 12:55 - Reading : less than a minute
The Director-General of the National Social Security Fund (CNSS), Mohammad Karaki, has instructed the relevant financial departments to transfer 30 billion Lebanese pounds to hospitals. This brings the total disbursed amount to hospitals since the beginning of November to 181 billion pounds. These transfers reflect the CNSS management's ...
Liliane Mokbel, 2024-12-08 13:10 - Reading : 2 minute(s)
Following the collapse of Bashar al-Assad's regime, Syria is left with a crumbling economy, shaped by decades of state control and average wages barely surpassing $40 per month. The country’s economic prospects now depend largely on the removal of American and Western sanctions, as well as financial assistance from the international community. ...
This is Beirut, 2024-12-07 14:05 - Reading : 1 minute(s)
The Nasdaq and the S&P hit fresh records on Friday after the November US jobs report came in better than expected, with the Dow edging down. The world's biggest economy gained 227,000 jobs in November, up from a revised 36,000 in October, according to the Department of Labor. "It's kind of being viewed as a Goldilocks jobs print," Tom Cahill ...
This is Beirut, 2024-12-07 10:00 - Reading : 1 minute(s)
Lebanon Economy Reconstruction
This is probably the reality Lebanon will have to face. With the end of the war, the countdown has begun, including an assessment of damages estimated at $6 billion and the initiation of reconstruction. The productive and economic sectors will have the opportunity for a significant recovery, starting with the laying of the cornerstone on the site ...
Liliane Mokbel, 2024-12-02 19:30 - Reading : 3 minute(s)
Economy Industry Commerce Parliament Lebanon
Industrial and commercial business owners are celebrating a major victory. Last Thursday, Parliament passed in a plenary session the bill amending Article 45 of Decree-Law No. 144 of June 12, 1959 (the Income Tax Law). This amendment grants "exceptional authorization" to income taxpayers, allowing them to revalue their inventories and real estate ...
Maurice Matta, 2024-11-30 09:00 - Reading : 5 minute(s)
On October 25, Lebanon was officially placed on the gray list of the Financial Action Task Force (FATF), subjecting the country to enhanced monitoring. The FATF report highlighted ongoing vulnerabilities in Lebanon’s efforts to strengthen measures against money laundering and terrorism financing. A key point in the report was FATF’s ...
This is Beirut, 2024-11-22 11:25 - Reading : 1 minute(s)
Caretaker Minister of Agriculture Abbas Hajj Hassan highlighted the extensive damage to Lebanon's agricultural sector, estimated at around 70%, based on an aerial study conducted in collaboration with the Food and Agriculture Organization (FAO) to assess the losses. He emphasized that Israeli bombardments have caused significant destruction, ...
Liliane Mokbel, 2024-11-20 18:00 - Reading : 2 minute(s)
Even before rebuilding residential and commercial units, priority will be given to restoring infrastructure as soon as hostilities end. This step is crucial to reestablishing the normal functioning of the social and economic fabric within any community. In this context, the caretaker government led by Najib Mikati, with the support of the World ...
Christiane Tager, 2024-11-20 10:00 - Reading : 2 minute(s)
Due to the ongoing war between Hezbollah and Israel, freight insurance premiums have surged, adding further pressure on Lebanese trade and, consequently, on consumers. Armed conflicts significantly increase the risks associated with maritime and land transport. Ships and cargo can be targeted or suffer collateral damage from hostilities. ...
Maurice Matta, 2024-11-20 09:00 - Reading : 5 minute(s)
Lebanon Economy Tourism Restaurants
Before the war, 60 airlines flew to Beirut; only Middle East Airlines remains today. Flights that once operated at 80-90% capacity now barely reach 20%, especially during peak seasons like Christmas and New Year. Travel to Lebanon has decreased by 80% compared to previous years, largely due to the ongoing conflict. The tourism sector, one of the ...
Liliane Mokbel, 2024-11-17 19:15 - Reading : 2 minute(s)
Hezbollah Israel economy consumption displaced
Many Lebanese have begun purchasing fruits and vegetables individually, a practice rarely seen in a culture that traditionally favors buying by the kilo. Grocery baskets have shrunk in both quantity and variety. Testimonies from mothers gathered by This is Beirut reveal a shift toward prioritizing legumes, which are more affordable than meat, ...
This Is Beirut, 2024-11-14 17:15 - Reading : 2 minute(s)
World Bank Lebanon Economy conflict losses
The World Bank has published on Thursday an initial assessment report of the impact of conflict on Lebanon’s Economy and Key Sectors. According to a new World Bank report, the cost of physical damages and economic losses due to the conflict in Lebanon is estimated at USD 8.5 billion. The Lebanon Interim Damage and Loss Assessment (DaLA) finds ...