Around 50% of Gas Stations in #Lebanon Don’t Have a License

The Syndicate of Gas Station Owners estimated the number of unlicensed gas stations in #Lebanon to be around 1,500, out of 3,000 gas stations across the country. "Less than half of the gas stations are operated by the importers. The others have independent management, but most still carry a certain brand because they buy the majority of their gasoline from this company. About three-quarters of unbranded, so-called ‘white’ stations, are unlicensed, and operate illegally". The…

Inflation at 7.6%, Highest Level in Five Years in #Lebanon

The Consumer Price Index is still on the rise in Lebanon, standing at 7.6% in July which is the highest recorded level in the past five years. Food and non-alcoholic beverages prices rose by six percent, rising oil prices caused electricity and gas prices to surge by 17 percent and transportation cost rose by 12.9 percent as well. The cost of health services rose 5.9 percent while the prices of clothing and footwear soared 14.6…
Business

List of Donors at the #CEDRE Conference

5 months ago
Lebanon received more than $11 billion between loans and grants at the CEDRE conference last week, in a bid to support development projects and reforms in the country. We were looking for investments between $16 ...
Baladi

EBRD Injects Confidence in Lebanese Financial Sector with Acquisition of 2.51% of Bank Audi’s Total Common Shares

6 months ago
These days, most of the news surrounding Lebanon’s economy and financial sector are dire warnings for a Greece-like meltdown in Lebanon, the world’s third most indebted country. This is why the European Bank for Reconstruction ...
Business

2017 Corruption Index: Lebanon Still Corrupt AF

6 months ago
The 2017 Corruption Perceptions Index placed Lebanon at the 143rd spot out of 180 countries and 14th out of 20 countries in Middle East and North Africa. The report did state that Lebanon is taking ...
Business

Should Lebanese Banks Close on Saturdays?

7 months ago
Lebanon’s official weekend holidays is still proving to be a hot topic in the country, as Lebanese banks may decide to close this coming Saturday and all Saturdays from now on. Previously, Fridays and Saturdays ...
Business

#Lebanon Still Has Third Highest Debt-to-GDP Ratio in the World

8 months ago
Debt is not necessarily a bad thing when governments borrow to fund spending on infrastructure or hospitals and schools, which is clearly not happening in Lebanon. Still though, we have an increasing debt-to-GDP ratio at ...
Business

[Updated] Can McKinsey Help Revive Lebanon’s Economy?

8 months ago
Update 10/07/2018: Global consulting firm McKinsey & Co. has set out its vision for Lebanon’s economy, with recommendations ranging from building a wealth-management and investment-banking hub to becoming a provider of medicinal cannabis. Turning it ...
Business

Holidays Tourists Spending Down by 30% in 2017, NYE Parties Booking Ratio Up to 80%

8 months ago
The Syndicate of Owners of Restaurants, Cafes, Nightclubs & Pastries in Lebanon stated a week ago that spending during the holidays has dropped by 30 to 40% this year when compared to last year. He ...
Business

VAT is Officially 11% Now in #Lebanon

8 months ago
The increase in VAT from 10 too 11% officials went into effect yesterday on Jan 1st 2018. The 1% increase is expected to lead to a 5 to 7% increase in the prices of goods, ...
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