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The Latest Breaking News from Lebanon

Lebanon’s Central Bank Says Audit of Gold Reserves Completed ‘Successfully’

Lebanon’s Central Bank announced on Friday that the audit of the bank’s gold reserves- coins and ingots- which came at the request of the International Monetary Fund, has been completed “successfully.” The bank said that the amount of gold bullions declared corresponded exactly with the quantity of gold in its…

Asharq Al-Awsat

Lebanon: World Bank Rules out Economic Recovery if Political Paralysis Continues

The World Bank has refuted the anticipations of Banque du Liban (The Central Bank of Lebanon) of a 2 percent growth in GDP in 2022, expecting Lebanon to “contract by 5.4 percent in 2022 amid political paralysis and delays in implementing an economic recovery plan.” “The depth and duration of…

Asharq Al-Awsat

Lebanon MPs Again Fail to Elect President despite Economic Crisis

Lebanese lawmakers failed for a seventh time Thursday to elect a successor to former president Michel Aoun, even though the vacancy is hampering efforts to rescue the stricken economy. Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear majority.…

Asharq Al-Awsat

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Lebanese reformist, another lawmaker lose parliament seats

Lebanon's constitutional council has taken away parliament seats from two newly elected lawmakers, including an activist who had pledged to fight corruption

The Independent UK

Lebanese constitutional council rules Hezbollah ally Karami won election seat

Lebanon's constitutional council on Thursday found that Hezbollah ally Faisal Karami had in fact won a seat in parliament during May's election and voided the election of opposition lawmaker Rami Finge.

Reuters

Lebanon: Tenfold Increase in Customs Duties

The Ministry of Finance announced on Wednesday that the government will start collecting customs duties with a tenfold increase, starting the first of December. The announcement came a day after the Governor of the Banque du Liban said that the official exchange rate of the dollar would be raised to…

Asharq Al-Awsat

Lebanon Seeks $5 Mn to Broadcast World Cup on National TV

The Lebanese authorities were unable to reach a legal agreement that gives the Lebanese free access to watch the World Cup 2022, amid a vacuum at the top state post and a caretaker cabinet with limited powers to take such decisions. Officials failed at clinching an agreement to secure a…

Asharq Al-Awsat

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Lebanon Central Bank to Use Forex Rate of 15,000 Pounds per Dollar as of Feb. 1

Lebanon's central bank will adopt an exchange rate of 15,000 Lebanese pounds per US dollar as of Feb. 1 as part of a process to unify the country's multiple exchange-rate system, Lebanese central bank governor Riad Salameh said on Monday. The central bank's official rate is currently set at 1,500…

Asharq Al-Awsat

WFP to Allocate $5.4 Bln for Lebanon over 3 Years, Caretaker PM Says

The World Food Program has agreed to allocate $5.4 billion for aid to Lebanon over the next three years, Lebanese caretaker Prime Minister Najib Mikati said on Monday, following a meeting with the agency's country director. Mikati said the aid would be split, with half going to Lebanese and the…

Asharq Al-Awsat

WFP to allocate $5.4 billion for Lebanon over 3 years, caretaker PM says

The World Food Programme has agreed to allocate $5.4 billion in aid for Lebanon over the next three years, Lebanese caretaker Prime Minister Najib Mikati said, as the country's economic crisis keeps millions in poverty.

Reuters

Lebanon Arrests 3 after Over $1M Stolen from Home

Police in Lebanon, where a banking crisis has forced people to stash cash at home, said Friday that three people have been arrested after stealing over $1 million from a private residence. The three Syrians -- a man, his wife and a relative -- were arrested on November 11, a…

Asharq Al-Awsat

Lebanon's top judge decries political meddling, calls for 'revolution' in courts

Lebanon's most senior judge on Friday said meddling by the political leadership in the work of the judiciary had led to a chaotic situation that required a "revolution in approaches" to resolve, in a rare public rebuke of ruling elites.

Reuters

Lebanon: Parliament Fails for 6th Time to Elect a President

The Lebanese Parliament failed for the sixth time on Thursday to elect a successor to former president Michel Aoun, whose term expired on October 31. Parliament Speaker Nabih Berri chaired Thursday’s parliament meeting. Five legislators out of 128-member parliament did not attend. Legislators cast their paper ballots into a wooden…

Asharq Al-Awsat

Seeking compromise candidate, Lebanese politician Bassil leaves door ajar for presidency bid

Senior Lebanese politician Gebran Bassil said on Thursday he was working to find a compromise candidate for the presidency who would be able to push through crucial reforms, but that he would run for the post himself if he deemed a chosen candidate a bad option.

Reuters

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The Independent UK

Some return to war-battered hub of Palestinian life in Syria

The streets in Yarmouk, Syria’s largest Palestinian refugee camp, are piled with rubble

Zenger

Israel Allows TotalEnergies And Eni To Search For Gas Offshore After Lebanon Deal

Israel signed agreement to begin exploring natural gas within the framework of a historic maritime border agreement with Lebanon

Al Jazeera

Israel signs agreement on gas field shared with Lebanon

Exploration in the Qana field is set to begin after Tel Aviv signed a framework agreement with the contractor.

The Independent UK

Total to launch sea exploration after Lebanon-Israel deal

French oil giant Total says it will soon launch exploration activities in search for gas in the Mediterranean Sea off Lebanon’s coast, following last month’s Lebanon-Israel maritime deal

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Radio France Internationale

TotalEnergies, ENI sign deal with Israel on gas field shared with Lebanon

French power operation TotalEnergies and Italian hydrocarbon company ENI have jointly signed a framework agreement with Israel to exploit a gas field shared with Lebanon, the French energy supplier said Tuesday.

Asharq Al-Awsat

Rahi Calls on the United Nations to 'Save Lebanon'

Maronite Patriarch Cardinal Bechara Boutros al-Rahi urged to the United Nations to save Lebanon by holding an international conference – a call that was supported by country’s opposition parties and rejected by Shiites. “Faced with Parliament’s drastic failure to elect a new president of the republic, with the five sessions…

Asharq Al-Awsat

Lebanon Extradites to Iraq Grandson of Saddam Hussein’s Step-Brother

Lebanon extradited on Friday a man said to be a grandnephew of late Iraqi ruler Saddam Hussein to Iraq, where he is accused of involvement in a massacre by the ISIS extremist group, an Iraqi security source said Saturday. Abdullah Yasser Sabawi, the grandson of Sabawi Ibrahim al-Hassan, the step-brother…

Asharq Al-Awsat

Lebanon’s National Currency Tumbles as Central Bank Issues ‘Ambiguous’ Measures

The Lebanese pound exchange rate on the black market has slid to nearly LBP 40,000 to the US dollar amid conflicting reports about a delay in new regulatory measures that the Central Bank is preparing to take, which requires raising the price of allowances for withdrawals from hard currencies. In…

Asharq Al-Awsat

Washington Increases Aid to Lebanon, Urges Election of President

USAID Administrator Samantha Power concluded on Friday her multi-day visit to Lebanon where she announced additional humanitarian and educational aid and discussed with officials the importance of urgent action to respond to the economic crisis, elect a President and form a cabinet. Power held in Beirut a series of meetings…

The Independent UK

Amid crisis, Hezbollah seeks ally in next Lebanese president

The leader of Lebanon’s militant Hezbollah group says he wants the next Lebanese president to be a figure who won't “betray" the Iran-backed faction

Asharq Al-Awsat

Lebanon’s Deputy Speaker Calls for Talks with Syria to Demarcate Maritime Border

Lebanon’s Deputy Speaker Elias Bou Saab has called for communicating “directly and publicly” with Damascus to delineate the maritime border between Lebanon and Syria, following a recent border demarcation agreement with Israel. “The Lebanese government must engage directly and publicly with the Syrian government...

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