RECENT ARTICLES
World Bank threatens to cut Lebanon's vaccine aid over line-jumping
By , BEIRUT (Reuters) - The World Bank threatened on Tuesday to suspend its multi-million dollar financing for Lebanon’s COVID-19 vaccinations over politicians jumping the line.Local media and officials said some lawmakers got shots in parliament on Tuesday while other Lebanese in the priority groups were still waiting their turn, drawing a rebuke from the doctor leading the campaign and outrage on social media.The World Bank’s reallocation of $34 million enabled Lebanon to receive its first two batches of about 60,000 Pfizer-BioNTech doses this month.The bank has monitored the rollout to...…By , BEIRUT (Reuters) - The World Bank threatened on Tuesday to suspend its multi-million dollar financing for Lebanon’s COVID-19 vaccinations over politicians jumping the line.Local media and officials said some lawmakers got shots in parliament on Tuesday while other Lebanese in the priority groups were still waiting their turn, drawing a rebuke from the doctor leading the campaign and outrage on social media.The World Bank’s reallocation of $34 million enabled Lebanon to receive its first two batches of about 60,000 Pfizer-BioNTech doses this month.The bank has monitored the rollout to...WW…
Exclusive: Lebanon's leaders were warned in July about explosives at port - documents
By , BEIRUT (Reuters) - Lebanese security officials warned the prime minister and president last month that 2,750 tonnes of ammonium nitrate stored in Beirut’s port posed a security risk and could destroy the capital if it exploded, according to documents seen by Reuters and senior security sources.Just over two weeks later, the industrial chemicals went up in a massive blast that obliterated most of the port and swathes of the capital, killed at least 163 people, injured 6,000 and destroyed 6,000 buildings, according to municipal authorities.A report by the General Directorate of State...…By , BEIRUT (Reuters) - Lebanese security officials warned the prime minister and president last month that 2,750 tonnes of ammonium nitrate stored in Beirut’s port posed a security risk and could destroy the capital if it exploded, according to documents seen by Reuters and senior security sources.Just over two weeks later, the industrial chemicals went up in a massive blast that obliterated most of the port and swathes of the capital, killed at least 163 people, injured 6,000 and destroyed 6,000 buildings, according to municipal authorities.A report by the General Directorate of State...WW…
Analysis: Lebanon's woes push it to fringes of global finance system
By , , BEIRUT/LONDON (Reuters) - Foreign lenders including HSBC and Wells Fargo are cutting ties with Lebanon’s central bank, sources familiar with the matter told Reuters, underlining the country’s international isolation as it reels from economic crisis.In a letter to Lebanon’s public prosecutor last week, Governor Riad Salameh warned that foreign correspondent banks were starting to curtail their business relationships with the local financial system, while Wells Fargo had closed a central bank account in dollars, and HSBC had shut its British sterling account, according to three sources...…By , , BEIRUT/LONDON (Reuters) - Foreign lenders including HSBC and Wells Fargo are cutting ties with Lebanon’s central bank, sources familiar with the matter told Reuters, underlining the country’s international isolation as it reels from economic crisis.In a letter to Lebanon’s public prosecutor last week, Governor Riad Salameh warned that foreign correspondent banks were starting to curtail their business relationships with the local financial system, while Wells Fargo had closed a central bank account in dollars, and HSBC had shut its British sterling account, according to three sources...WW…
Lebanon army chief berates politicians after president calls to clear protests
By , BEIRUT (Reuters) - Lebanon’s president told the army and security forces on Monday to clear roadblocks after a week of protests over a collapsing economy and paralysed government, but the army chief warned that troops should not get sucked into the political deadlock.President Michel Aoun issued the call to open up the roads across the country after a meeting with top officials while the army’s top commander held a separate meeting with military commanders at which he stressed the right to peaceful protest.Army chief General Joseph Aoun also berated Lebanon’s sectarian-based...…By , BEIRUT (Reuters) - Lebanon’s president told the army and security forces on Monday to clear roadblocks after a week of protests over a collapsing economy and paralysed government, but the army chief warned that troops should not get sucked into the political deadlock.President Michel Aoun issued the call to open up the roads across the country after a meeting with top officials while the army’s top commander held a separate meeting with military commanders at which he stressed the right to peaceful protest.Army chief General Joseph Aoun also berated Lebanon’s sectarian-based...WW…
Lebanon faces 'biggest danger', needs elections, says patriarch
By BEIRUT (Reuters) - Lebanon’s top Christian cleric called on Sunday for early parliamentary elections and a government formed to rescue the country rather than the ruling “political class” after the vast explosion in Beirut’s port threw the nation into turmoil.The now-caretaker cabinet resigned amid protests over the Aug. 4 blast that killed more than 172 people, injured 6,000, left 300,000 homeless and destroyed swathes of the Mediterranean city, compounding a deep financial crisis.Patriarch Bechara Boutros Al-Rai, who holds sway in Lebanon as head of the Maronite church from which the...…By BEIRUT (Reuters) - Lebanon’s top Christian cleric called on Sunday for early parliamentary elections and a government formed to rescue the country rather than the ruling “political class” after the vast explosion in Beirut’s port threw the nation into turmoil.The now-caretaker cabinet resigned amid protests over the Aug. 4 blast that killed more than 172 people, injured 6,000, left 300,000 homeless and destroyed swathes of the Mediterranean city, compounding a deep financial crisis.Patriarch Bechara Boutros Al-Rai, who holds sway in Lebanon as head of the Maronite church from which the...WW…
Lebanese government raises subsidised bread prices as currency tumbles
By BEIRUT (Reuters) - The Lebanese government on Tuesday raised the price of a 900-gramme loaf of partially subsidised bread to 2,000 pounds from its pre-October-crisis price of 1,500 pounds in the first such price change in eight years.Slideshow The pound, which is officially pegged at 1,500 to the dollar, has lost over 80% of its value since October and is now trading at nearly 9,000 to the dollar on the black market after sharp falls in recent days.Since October Lebanon has been in a financial crisis that has seen businesses close and prices and unemployment soar.The crisis is seen as...…By BEIRUT (Reuters) - The Lebanese government on Tuesday raised the price of a 900-gramme loaf of partially subsidised bread to 2,000 pounds from its pre-October-crisis price of 1,500 pounds in the first such price change in eight years.Slideshow The pound, which is officially pegged at 1,500 to the dollar, has lost over 80% of its value since October and is now trading at nearly 9,000 to the dollar on the black market after sharp falls in recent days.Since October Lebanon has been in a financial crisis that has seen businesses close and prices and unemployment soar.The crisis is seen as...WW…
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