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The Latest Breaking News from Lebanon

Lebanon sets new exchange rate, dramatically devalues pound

Lebanon’s Central Bank has set a new exchange rate that effectively devalues the country’s currency by 90% but did little to bridge the gap with the soaring black market rate

The Independent UK

Lebanon Devalues Official Exchange Rate by 90%

Lebanon devalued its official exchange rate for the first time in 25 years on Wednesday, weakening it by 90% but still leaving the local currency well below its market value. The pound has crashed since a financial meltdown in 2019 after decades of corruption, profligate spending and mismanagement by the…

Asharq Al-Awsat

Regional Power Plan for Lebanon Held up Over Syria Sanctions

Egypt is still seeking assurances that US sanctions will be waived to start exporting gas to Lebanon through Syria under a plan first announced in 2021 to help ease Lebanon's power crisis, a senior French official said on Tuesday. The plan also has yet to go to the World Bank…

Asharq Al-Awsat

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Lebanon: Villagers Try to Stem Illegal Logging Scourge

Braving the bitter cold, Lebanese villagers have been patrolling a mountainside in the country's north, trying to protect trees from loggers who roll in under the cover of darkness. Near his village of Ainata, "nearly 150 centuries-old oak trees have been felled" in the past year, said Ghandi Rahme, pointing…

Asharq Al-Awsat

Lebanon to Devalue Currency by 90% On Feb. 1, C.Bank Chief Says

Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years. The shift from the old rate of 1,507 to 15,000 is…

Asharq Al-Awsat

Cash Is King in Lebanon as Banks Atrophy

The money exchange shop in Lebanon's Bekaa Valley was buzzing with business. Cellphones pinged endlessly and employees shouted out various rates as customers flocked in carrying plastic bags of the crashing local currency to buy US dollars. "Welcome to the Wall Street of Lebanon," grinned the storefront's owner, a machine…

Asharq Al-Awsat

QatarEnergy Replaces Russian Company in Lebanon Gas Exploration

Lebanon, two international oil giants and state-owned oil and gas company Qatar Energy signed an agreement Sunday that the Qatari firm will join a consortium that will search for gas in the Mediterranean Sea off Lebanon’s coast. Qatar Energy is replacing a Russian company that withdrew from the Lebanese market…

Asharq Al-Awsat

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Maronite Patriarch Says Judge Probing Beirut Port Blast Must Pursue Truth

Lebanon's Maronite Patriarch Beshara al-Rai called on Sunday for the judge struggling to investigate the Beirut port explosion to be able to pursue his work and get help from any outside authority to pinpoint those responsible for the devastating blast. Long-simmering tensions over the investigation have boiled over since Judge…

Asharq Al-Awsat

Lebanon's top Christian cleric says judge probing port blast must be allowed to pursue truth

Lebanon's top Christian cleric called on Sunday for the judge struggling to investigate the Beirut port explosion to be able to pursue his work and get help from any outside authority to pinpoint those responsible for the devastating blast.

Reuters

Qatar replaces Russian company in Lebanon gas exploration

Lebanon, two international oil giants and state-owned oil and gas company Qatar Energy agreed Sunday that the Qatari firm will join a consortium that will search for gas in the Mediterranean Sea off Lebanon’s coast

The Independent UK

QatarEnergy to Join Lebanon Offshore Oil and Gas Exploration

QatarEnergy will join TotalEnergies and Eni in a three-way consortium to explore oil and gas in two maritime blocks off the coast of Lebanon, the Lebanese energy ministry said on Thursday. Following months of talks, QatarEnergy is set to take a 30 percent stake, leaving France's TotalEnergies and Italy's Eni…

Asharq Al-Awsat

Lebanon Lawmaker Sit-in Enters 2nd Week

Two Lebanese lawmakers on Friday entered the second week of a sit-in inside the crisis-hit country's parliamentary chamber, vowing to remain inside until fellow MPs elect a new president. Parliamentarians Najat Saliba and Melhem Khalaf, both independents, began their protest on January 19, after colleagues met and failed for an…

Asharq Al-Awsat

Ohio city rewrites abortion ban, advocacy groups end lawsuit

Groups representing social workers and women say they have succeeded in forcing a small Ohio city to significantly narrow its abortion ban and dropped their lawsuit

The Independent UK

Lebanese MPs denounce top prosecutor's moves against judge probing port blast

Some 40 Lebanese lawmakers on Friday became the latest group to back the judge investigating the catastrophic 2020 Beirut port blast and call for the country's top prosecutor to be held accountable for steps taken against the judge and his probe.

Reuters

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Asharq Al-Awsat

Lebanon's Central Bank Freezes Accounts of Foreign Trade Exchanger

Lebanon's Central Bank froze the accounts of foreign trade exchanger Hassan Moukalled and his two sons, Rayan and Rani, two days after the United States imposed sanctions on them. The US Department of the Treasury's Office of Foreign Assets Control (OFAC) designated Moukalled, his sons, and his money service business,…

Bangkok Post

Lebanese elite bury blast probe

BEIRUT: In their move to bury an investigation into the Beirut port blast, Lebanon’s ruling elite have driven another nail in the coffin of the collapsing state, stirring conflict in the judiciary as they try to avoid accountability at any cost.

Asharq Al-Awsat

Lebanese Elite Bury Blast Probe, Pushing Fragile State Closer to Edge

In their move to bury an investigation into the Beirut port blast, Lebanon's ruling elite have driven another nail in the coffin of the collapsing state, stirring conflict in the judiciary as they try to avoid accountability at any cost. Long-simmering tensions over the investigation have boiled over since Judge…

Reuters

Lebanese elite bury blast probe, pushing fragile state closer to edge

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France 24

Families of Beirut blast victims slam infighting over investigation

The relaunching this week of the investigation into the August 2020 Beirut port blast triggered an unprecedented impasse with the lead judicial investigator and top prosecutor slapping charges against each other. Critics called it a “farce”, but for families of the victims still seeking justice, the parody is wrenching and…

The Independent UK

Government ‘determined’ to see justice over killing of Irish peacekeeper

Tanaiste Micheal Martin visited Lebanon where Private Sean Rooney was killed in a shooting incident in December.

Reuters

Lebanese central bank freezes accounts of money exchanger sanctioned by U.S

Lebanon's central bank froze all bank accounts belonging to Lebanese currency exchange house CTEX and its owner Hassan Moukaled on Thursday, days after the U.S. Treasury sanctioned them over alleged financial ties to blacklisted group Hezbollah.

Al Jazeera

Middle East round-up: Turkey, Sweden, NATO and the Quran

Here’s a round-up of Al Jazeera’s Middle East coverage this week.

The Independent UK

Anger soars in Beirut amid standoff over port blast probe

Scores of protesters have scuffled with riot police in Beirut as they try to break into the chief offices of Lebanon’s judiciary

Reuters

Lebanese protest as fate of blast probe hangs in balance

More than 200 people protested outside Lebanon's justice palace on Thursday over efforts to derail an investigation into the deadly 2020 Beirut port explosion, as top judges cancelled a meeting to discuss the fate of the inquiry.

Al Jazeera

Yemen and Lebanon landmarks added to UNESCO endangered list

Landmarks of ancient kingdom of Saba and Rachid Karami International Fair inscribed to list of sites in danger.

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