Tag: inflation

Sadr supports breach Green Zone, storm parliament in repeat of January 6 riots

Hundreds of protesters have breached a high-security zone in Baghdad and broken into Iraq's parliament building. The supporters of cleric Muqtada al-Sadr oppose the nomination of a rival candidate for prime minister. Sadr's political alliance won the most seats in last October's general election, but it is not in power due to political deadlock following […]

Lebanon to build new grain silos to alleviate food crisis

Lebanon plans to build two new grain silos to fight its its worsening food security crisis, the country's caretaker economy minister told The Associated Press on Wednesday. Amin Salam said that several countries and international organizations have expressed an interest in funding and bidding for the new silos, which will cost a total of $100 […]

Ukraine, Russia to relieve global grain crisis

Ukraine and Russia have signed a landmark deal aimed at relieving a global food crisis caused by blocked Black Sea grain deliveries, ending months of negotiations and sending wheat prices tumbling to levels last seen before Moscow's invasion. The first major deal between the warring parties since the February invasion of Ukraine should help ease […]

Sri Lankans storm president home in protest over prices

Sri Lanka's President Gotabaya Rajapaksa fled his official residence on Saturday shortly before protesters, angered by an unprecedented economic crisis, overran the compound and stormed his nearby office. Thousands of people had surrounded the leader's home to demand his resignation, blaming government mismanagement for a downturn that has subjected the island nation's 22 million people […]

Thousands march against PM Boris Johnson

Thousands of people marched through central London on Saturday in a protest over the soaring cost of living in Britain. Huge crowds flooded into the British capital for the rally to demand that the government do more to help people faced with bills and other expenses that are rising more quickly than their wages. Prime […]

Could you give it a rest? You have more important things to worry about

The inflationary pressure we are experiencing today is a wild dog; tough to tame! The incompetent global mess of the Biden Administration has not been helping in that perspective. Despite the pronounced independence of the monetary authorities, US politics always contaminate the Fed's and the Treasury's policy actions. By Mohammad Ibrahim FheiliBiden's administration has been […]

Protests break out over seized money in Lebanese central bank

Humanitarian organizations and associations protested Thursday in front of the Central Bank, urging authorities to free their funds trapped in the banks. Social Affairs Caretaker Minister Hector Hajjar participated in the protest. "This is not a political protest," he said. He asked the Central Bank governor to facilitate the bank transfers of these associations and […]

Fitch says election jeopardizes Lebanon's credit rating

Leading international credit ratings agency Fitch has warned that the results of this month's parliamentary elections in Lebanon make it difficult for any coalition to have a governing majority, potentially complicating implementation of reforms. Lebanon is in the grips of the worst economic and financial crisis in its modern history. Carrying out reforms is a […]

President Aoun revives 1974 national pricing council

President Michel Aoun on Friday signed a decree forming the "National Council for Pricing Policy", which is being formed for the first time since a decision was taken to form it in 1974, the Presidency said. The Council is “a national par excellence council that comprises all the relevant parties from the official administrations and […]

Protestors storm energy ministry in Lebanon

A group of protesters stormed on Friday the Ministry of Energy and Water in Corniche el-Nahr. An activist was meanwhile seen on TV smashing then tearing up a picture of President Michel Aoun that was hung on a wall in the ministry. Lebanon, grappling with an unprecedented economic crisis since 2019, and which defaulted on […]

Bread prices headed to new highs, Lebanese fear

The Ministry of Economy will issue today, Tuesday, a new price for the bread bundle, Economy Minister Amin Salam said. "There is neither a bread crisis nor a flour crisis," according to Salam, who told al-Jadeed TV that the new price will be "fair" and the dollar differences will be taken into account. Meanwhile, head […]

Road-blocking protests sink lira even further

Lebanon’s national currency, which has been witnessing a free fall in recent days, was trading for LBP 33,200 against the dollar at around 2:00 pm Tuesday, after having reached a historic low of 33,600 earlier in the day. The crash has sparked a fresh wave of road-blocking protests across the country. In the North, protesters […]

Lebanese transport sector to go on strike

The head of the Unions and Syndicates of the Land Transport Sector, Bassam Tlais, on Wednesday announced the program of the strike and protests that the sector will stage Thursday across Lebanon. “The previous suspension of the strike was based on promises from the prime minister and ministers to support the land transport sector,” Tlais […]

Mikati insists IMF talks inevitable for Lebanon in dire straights

Lebanon's Prime Minister Najib Mikati said on Monday a resumption of talks with the International Monetary Fund was a necessity to pull the country out of its financial crisis. Mikati made his remarks after a long parliamentary session, held since noon, to debate his government's policy proposal and give a vote of confidence. The prime […]

Lebanese businesswoman says economic hardships worse than civil war

Suzanne Mouawad lived through Lebanon's civil war and built a successful advertising business in the hopeful days after the fighting ended, but she says her country's economic collapse is breaking her in a way that even missiles did not. Mouawad, 56, comes from a well-to-do background and previously led a privileged life, running her agency […]

1 2 3 Next »

Stay up-to-date

Latest news

Russians bomb Syrian extremists working in US zone

Polls prove Americans don't want war with Iran

Anti-liberal backlash as Christian nationalism sweeps USA

Al-Rahi says easier dealing with Israel than fellow government

Ceasefire brokered between Gaza and Israel