Christiane Tager, 02/06 19:50 - Reading : 2 minute(s)
Thursday night brought a shocking surprise at the fuel station: gasoline and diesel prices surged, despite a 17% drop in global oil prices since February. Yes, you read that correctly. While prices are falling worldwide, in Lebanon, they’re climbing. This is the Lebanese exception – flammable edition. In short, a price hike running completely ...
Liliane Mokbel, 30/05 13:00 - Reading : 4 minute(s)
Power plant maintenance is resuming, the local fuel market is well supplied, and electricity rationing is beginning to ease gradually. These improvements raise the prospect of an average electricity supply of twelve hours per day. Yet, without activating the Regulatory Authority – mandated by law for more than twenty years – the resolution of ...
This is Beirut, 28/05 20:55 - Reading : 2 minute(s)
Banks Los Angeles Yassin Jaber Jean-Christophe Carret World Bank
In a bid to accelerate Lebanon’s post-war recovery, Finance Minister Yassine Jaber met with Jean-Christophe Carret, the World Bank’s Regional Director, on Wednesday to discuss the imminent launch of the Lebanon Emergency Assistance Project (LEAP), a reconstruction initiative designed to channel international aid into rebuilding efforts through ...
This is Beirut, 27/05 21:40 - Reading : 3 minute(s)
Banks Hassan Nasrallah Central Bank of Lebanon Hezbollah Israel
Al-Qard al-Hassan, a financial institution linked to Hezbollah and operating through 34 branches in areas controlled by the militia, has recently drawn attention for its role in the group’s financial operations. The Israeli think tank Alma Research and Education Center, which focuses on security issues in northern Israel, has provided ...
Liliane Mokbel, 27/05 12:45 - Reading : 4 minute(s)
Banks Beirut International Airport EDL Energy
Electricity rationing is the rule, contrary to all logic in a nation-state framework. A quarter of a century after the end of the Civil War, the Lebanese remain dependent on alternative means of energy supply – mostly at the mercy of the neighborhood private generator supplier. Électricité du Liban (EDL) will long remain in Lebanon’s history ...
This is Beirut, 26/05 12:40 - Reading : 2 minute(s)
ABL Banks Banque du Liban Fadi Khalaf
In the editorial of its monthly report titled “A New Phase on the Horizon,” the Secretary-General of the Association of Banks in Lebanon (ABL), Fadi Khalaf, emphasized that no economic recovery plan can succeed without serious cooperation among all stakeholders. He stressed that this partnership must ensure the protection of depositors' rights ...
This is Beirut, 26/05 11:50 - Reading : 1 minute(s)
Banks Gulf Kuwait Middle East Saudi Arabia Lebanon
The Arab world’s economy is undergoing a rapid transformation, fueled by the rise of financial markets and robust growth in the technology, energy and finance sectors. According to data compiled by Forbes Middle East, more than 280 companies across the region now boast a market valuation exceeding $1 billion. At the forefront of this ...
Ryan Chaba, 24/05 10:30 - Reading : 5 minute(s)
It’s a quietly growing trend. Since Lebanon’s 2021 fuel crisis, the electric vehicle market has been steadily gaining ground. Chinese electric vehicles (EVs), in particular, are spearheading the shift. Their futuristic designs are increasingly becoming common sights on Lebanon’s roads. The numbers are still small but rising. In the absence ...
Christiane Tager, 23/05 23:00 - Reading : 3 minute(s)
Since 2011, hosting Syrian refugees has posed a severe economic challenge for Lebanon. According to the latest World Bank report, the direct annual cost of accommodating these refugees is estimated at around $4.5 billion. However, this figure only accounts for direct expenses. When indirect costs are included, the total cost rises to roughly ...
This is Beirut, 23/05 19:25 - Reading : 1 minute(s)
Minister of Finance Yassine Jaber, in the presence of Minister of Energy and Water Joe Saddi, signed a $257.8 million loan agreement with World Bank Regional Director Jean-Christophe Carret for the Greater Beirut Water Supply Project. The financing is aimed at improving water coverage for 1.8 million people, reducing dependence on costly private ...
This Is Beirut, 22/05 15:20 - Reading : 2 minute(s)
Banks Banque du Liban Central Bank of Lebanon Finances Parliament Lebanon
Lebanon’s Central Bank (BDL) announced in an official statement that it remains committed to transparency and integrity within the financial sector. It is actively pursuing legal procedures in collaboration with specialized law firms across several European countries and other international jurisdictions. This effort aims to initiate judicial ...
Christiane Tager, 21/05 20:45 - Reading : 3 minute(s)
Let’s dive into the world of Bitcoin – a digital currency that is transforming global finance. Bitcoin (BTC) is much more than just a cryptocurrency: it is a decentralized currency, without a central bank or intermediaries, based on blockchain technology – a public and secure ledger. In other words, it’s money that never sleeps, doesn’t ...