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Economy

Bassil relaunches Batroun sewage project

باسيل والصرف

Foreign Minister Gebran Bassil relaunched a sewage treatment project in Batroun Sunday, the state-run National News Agency reported. “All of us, heads of municipalities and civil society, are keen to preserve our region and keep a watchful eye on this project to make it a new positive sign for all ...

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At Baabda, private sector opposes new taxes

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Lebanon’s private sector made a last-ditch effort Monday to repeal the tax measures designed to finance the salary scale for civil servants, public school teachers and military personnel. Bankers and business leaders, who took part in a broad economic meeting at Baabda’s presidential palace at the invitation of President Michel ...

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Lebanon finance minister discusses infrastructure development with IFC

khalil in ifc

finance Miister Ali Hasan Khalil met with a delegation from the International Finance Corporation to discuss public-private partnerships in infrastructure development in Lebanon, according to a Finance Ministry statement issued yesterday. Renewable energy initiatives are top priorities for infrastructure development projects, the statement said. During the meeting, Khalil reportedly highlighted ...

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Study: Oil, gas could be worth billions per year

lebanon fuel

The estimated average annual revenues from potential oil and gas reserves would be approximately $5.7 billion for 20 years, a study by Fransabank has said. “The government’s revenues are expected to be boosted from the exploitation of oil and gas: 15 percent corporate income tax, 60 percent profit share on ...

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Khoury: Lebanon needs long-term plan to revive suffering economy

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Economy Minister Raed Khoury called Tuesday for the drafting of a clear and comprehensive economic plan to be pursued by future successive governments. “We call upon the government, the Parliament and the private sector to draft a clear economic strategy which should be implemented by all future successive governments,” he ...

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Tenants begin to leave properties under new rent law

قانون الايجارررر

Tenants under the old rent law have begun to leave the properties they have lived in for decades, following legislation passed in March that favored the rights of property owners. The law, which impacts approximately 200,000 apartments, mostly in Beirut and its suburbs, allows for an incremental increase in rents, ...

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