Your search results: 18 articles
Dozens of roads across Lebanon have been closed in protest of the lira’s rapid collapse, local media report. Affected areas include Corniche al-Mazraa and downtown Beirut, Saadnayel and Taanayel in Zahle, and multiple roads in Tripoli and Nabatieh
16 March 2021
The Military Court of Cassation has ordered the release of Kinda al-Khatib, who was arrested in June and charged with collaborating with Israel and entering occupied Palestine. A military court sentenced the civilian to three years in prison in December
16 March 2021
MPs vote in committee to give a stopgap $200 million to import fuel for electricity
BEIRUT — MPs voted Tuesday in favor of a $200 million transfer to keep Lebanon’s power plants running for the next couple of months, while taking another chunk out of the central bank’s rapidly...
Emily Lewis, 16 March 2021
Businesses in several areas have closed shop, either in protest against the lira's crash or due to pressure from protesters, according to reports from the NNA and posts on social media. Residents in Batroun have also flocked to gas stations in anticipation of possible price hikes
16 March 2021
A letter of credit has been opened to settle the $2 million owed to a German company contracted to clean up 52 containers with toxic material at Beirut's port. The toxic waste is still in Lebanon because the government has yet to pay, one month after the firm completed its work
16 March 2021
Shops close amid pandemonium as the lira crashes past LL15,000 to the dollar
BEIRUT — The Lebanese lira crashed to a new record low against the US dollar on Tuesday, sending frenzied shoppers to stock up on goods and throwing merchants into disarray, with some shutting down...
Omar Tamo, 16 March 2021
Subsidies on "some products like fuel" will run out after this month, caretaker Premier Hassan Diab has told Reuters. Certain other subsidies are covered until June, he said
16 March 2021
Incidents of homicide and theft in Lebanon increased by 45.5% and 144%, respectively, year-on-year in January and February, consultancy Information International said, citing statistics from the ISF. Suicides, meanwhile, fell by 40% over the same period, the firm said
16 March 2021
Caretaker Finance Minister Ghazi Wazni has told Bloomberg that Lebanon is scaling back food subsidies and will gradually raise gasoline prices to save dwindling foreign reserves. He did not give a timeline for these actions
16 March 2021
Protesters have blocked roads across Lebanon in protest of the lira’s drop, rising prices and poor living conditions, local media reports. Areas affected include Hamra and Aisha Bakkar in Beirut, Jabal Mohsen in Tripoli, Saadnayel in the Bekaa, Elia junction in Saida and Baalbeck
16 March 2021
The dollar’s selling price on the parallel market has exceeded LL15,000, another record. The national currency has lost over 90 percent of its value since it began to deviate from the official peg during the second half of 2019
16 March 2021
BDL’s latest interim balance sheet shows an additional LL1.5 trillion in circulation outside BDL in the first half of March, putting the total at nearly LL36 trillion. The bank’s foreign assets, which represent its reserves, have fallen by about $350 million over the same period
16 March 2021
Parliament’s joint committees have approved a law granting a $200 million advance to Électricité du Liban, which is sufficient funding to generate electricity for about two months, local media outlets report. The law will now advance to Parliament for its approval
16 March 2021
The dollar’s selling price has surpassed LL14,000 on the parallel market as Lebanon’s national currency again hits a new low
16 March 2021
The Iraqi Customs Authority has tweeted that it has “facilitated the passage of 10 tankers loaded with fuel from the Islamic Republic of Iran to Lebanon in aid.” The economic crisis in Lebanon has steadily deepened in recent weeks as the local currency plummets in value
16 March 2021
Three demonstrators were injured overnight in clashes with the Lebanese Army in Zouk Mosbeh, the NNA reports. Yesterday protesters blocked roads across the country over the steep decline in the value of the lira
16 March 2021
Lira plummet continues, vaccine safety concerns, electricity funding: Everything you need to know this Tuesday
Want to get the Morning Brief by email? Click here to sign up . The lira fell to another record low , around LL13,500 to the dollar, sparking roadblock protests in areas across Lebanon. With...
