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Tag Archives: corona crisis

Welcome to the World CEO: “We have the unique chance to smart investments and sustainably change the tourism industry”

The coronavirus pandemic will likely cost the global tourism sector $2 trillion in lost revenue in 2021, the UN’s tourism body estimated last month, calling the sector’s recovery “fragile”. “We now have the unique chance to smart investments and to sustainably change the industry for the better”, said Stefanie Schachtschabel …

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UK reaffirms commitment to Lebanese people

On his first visit over two-days to Lebanon’s second largest city, British Ambassador to Lebanon Ian Collard toured UK-funded projects in Tripoli and surrounding areas and met city officials, as well as the embassy’s project partners and beneficiaries. In his messages to the citizens of Tripoli, Ambassador Collard reaffirmed the …

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Hezbollah wants US waiver to import Iran fuel oil

Lebanon’s Hezbollah chief Sayyed Hassan Nasrallah repeated calls on Monday for the cabinet to seek a U.S. sanctions waiver to import Iranian fuel and alleviate crippling shortages. Nasrallah said the government should make power shortages a priority, adding the total blackout that occurred on Saturday when Lebanon’s two largest power …

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US says Hezbollah fuel import a PR stunt

The United States on Thursday denounced Hezbollah’s deliveries of Iranian fuel in crisis-hit Lebanon as a public relations stunt and warned that Tehran remained under sanctions. Iran is set to deliver more fuel in the coming days to Lebanon for distribution by Hezbollah, the Shiite movement that has shown its …

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Macron wants Lebanon to stick to IMF requirements

French President Emmanuel Macron urged Beirut on Friday to implement urgent reform measures and push ahead with International Monetary Fund (IMF) talks, adding that France would continue to support Lebanon. Macron made his comments after meeting Lebanon’s Prime Minister Najib Mikati, who is on his first foreign trip after successfully …

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Lebanese abroad send aid to homeland

Lebanese expats in the wealthy UAE, many of them riven with guilt, are scrambling to ship essential goods and medicine to family and friends in their crisis-stricken home country. “How can I sit in the comfort of my home in air-conditioning and a full fridge knowing that my people, my …

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Lebanese cabinet succeeds in attaining confidence vote

Lebanon’s new government won a vote of confidence on Monday for a policy programme that aims to remedy a devastating economic crisis, despite the parliamentary session being delayed when the lights went off due to power shortages. The programme drawn up by Prime Minister Najib Mikati’s government promises to revive …

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More fuel prices hikes says new Lebanon government

Lebanon’s new government raised gasoline prices on Friday, cutting a subsidy that Prime Minister Najib Mikati has said is unaffordable as he advances plans to address a devastating financial crisis. The government also signed a new contract with restructuring consultancy Alvarez & Marsal (A&M) to carry out a forensic audit …

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New Lebanese government pushes draft commitment to IMF

The Lebanese government will resume negotiations with the International Monetary Fund while beginning reforms demanded by donors, according to a draft policy programme that aims to tackle one of the worst financial meltdowns in history. New Prime Minister Najib Mikati’s government will also resume negotiations with creditors over a restructuring …

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Algeria, Saudi talk trade, OPEC

Algerian President Abdelmadjid Tebboune and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud on Tuesday discussed coordination within OPEC as well as bilateral, regional and international issues, Algeria’s presidency and the Saudi minister said. Saudi Arabia “is keen to continue coordination and consultation regarding regional and international issues…most notably …

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Hezbollah promises Iran fuel shipments by Thursday

Sayyed Hassan Nasrallah, leader of Lebanon’s armed Shi’ite movement Hezbollah, said on Monday that a first ship carrying Iranian fuel oil to help Lebanon through its financial crisis had docked in Syria on Sunday. Nasrallah had announced last month that he had organised purchases of fuel from Iran, Hezbollah’s main …

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Hundreds of thousands of Lebanese trying to flee the country

Immigration from Lebanon is entering a state of “exodus” as the many crises hitting the small Mediterranean country remain unresolved, according to the Crisis Observatory, an interdisciplinary research program launched by the American University of Beirut. The continuing immigration of thousands of Lebanese is reaching a tipping point, the research …

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Syrian refugees leave Lebanon over economic crisis

The economic crisis in Lebanon is prompting a remarkable number of Syrian workers residing in the country to return to Syria. The number of Syrian refugees in Lebanon has decreased to 851,717, according to the UN High Commission for Refugees’ latest census, though the Lebanese government stopped allowing the UNHCR …

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Lebanon still not out of the woods, politicians says

More than 12 months since Lebanon’s cabinet resigned and with the country teetering on the brink of collapse, politicians look unlikely to form a much-needed government any time soon, sources warn. Despite one of the world’s largest-ever non-nuclear explosions killing more than 200 people, soaring hyperinflation, food insecurity and crippling …

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No more fuel subsidies, says Lebanon central bank

Lebanon’s central bank said it would offer credit lines for fuel imports based on the market price for the Lebanese pound from Thursday, effectively ending a fuel subsidy that has drained its reserves since the country descended into financial crisis. The move, announced late on Wednesday, means fuel prices will …

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Maronite patriarch angry over Hezbollah rockets, defended by President

Michel Aoun

President Michel Aoun on Tuesday condemned criticism of Lebanon’s Christian Maronite patriarch after he expressed opposition to the Iran-backed Shi’ite group Hezbollah, warning that insults must be avoided to safeguard national unity. Following a cross-border salvo between Israel and Hezbollah, Patriarch Bechara Boutros Al-Rai was sharply critical of Hezbollah on …

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Lebanon can no longer take care of its bears

Two endangered bears who were living in poor conditions in a Lebanon zoo have been flown to an animal sanctuary in the US after they started to lose weight and suffered from other health issues. Rights association Animals Lebanon said it managed to persuade their owner that “the bears deserved …

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Najib Mikati slotted to be new Lebanese PM

Lebanon’s wealthy businessman and former premier Najib Mikati is poised to be designated prime minister on Monday after winning the support of most major parties to form a new government facing a crippling financial crisis, political sources said. Earlier, a club of former Lebanese Sunni prime ministers said on Sunday …

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Hariri hands list proposed cabinet to Lebanese president

Lebanon’s prime minister-designate Saad Al-Hariri said on Wednesday he had presented a cabinet proposal to President Michel Aoun and is awaiting his response on Thursday, in a move that could end almost nine months of political deadlock amid an economic collapse. “Now is the moment of truth,” Hariri, who has …

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Qatar to help feed hungry Lebanese soldiers

Qatar will provide the Lebanese armed forces with 70 tonnes of food a month, the Qatari state news agency QNA reported, as Lebanon seeks assistance amid its worst economic and political crisis since a 1975-1990 civil war. Lebanon’s army chief Joseph Aoun had appealed to world powers at meeting in France last …

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Iraq worried OPEC price war in the offing

The financial adviser to Iraq’s prime minister said that “in the absence of coordination and understandings between OPEC producers, the beginnings of a price war will be formed again,” the Iraqi News Agency (INA) quoted him as saying on Monday. Mazhar Mohammed Saleh added that “the increases in production within …

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Saudi, UAE disagree over OPEC policy

Oil held steady as tensions between Saudi Arabia and the UAE escalated over the weekend, leaving the market with few clues about how supply talks will proceed on Monday after discussions reached an impasse last week. The clash was unresolved just hours before Monday’s meeting was scheduled to start. The Saudis are standing …

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