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☆ Israeli strikes target Hamas in Lebanon and Gaza after rocket attack
▼ + stars: | 2023-04-07 | by ( ) www.cnbc.com time to read: +4 min

GAZA CITY - Flames rise from the area after Israeli warplanes launched airstrikes on the central part of the Gaza Strip, on April 07, 2023. "We strongly condemn the blatant Zionist aggression against Lebanon in the vicinity of Tyre at dawn today," Hamas said. The strikes came in response to rocket attacks from Lebanon towards northern Israeli areas, which Israeli officials blamed on Hamas. As the Israeli jets struck in Gaza, salvoes of rockets were fired in response and sirens sounded in Israeli towns and cities in bordering areas. An Israeli military spokesman said the Israeli operation was over for the moment.

☆ Lebanon's cabinet reverses decision to delay daylight savings time
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mohamed AzakirBEIRUT, March 27 (Reuters) - Lebanon's caretaker premier said the cabinet had voted to move clocks one hour ahead on Wednesday night, reversing his decision to postpone the move to daylight savings time by a month that had sparked uproar across the country. Mikati angered many Lebanese when he decided last Thursday not to start daylight savings time over the last weekend of March but instead to roll clocks forward an hour on April 20. Moving clocks forward means Muslims would have to fast an additional hour as sunset would be at a later time on the clock. But the move was defied by Lebanon's top Christian authority as well as some schools, media outlets and businesses, which rolled their clocks forward on Saturday night. Mikati even faced objections from within cabinet, including the justice minister who said Lebanon had more important challenges to focus on.

☆ Lebanon wakes up in two simultaneous time zones as government can't agree on daylight saving change
▼ + stars: | 2023-03-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

On Sunday, the Mediterranean country of roughly 6 million was scheduled to turn its clocks back an hour for daylight saving, as it does every year along with much of the wider region and Europe. Daylight saving would mean that sunset falls around 7 p.m. rather than 6 p.m., making practicing Muslims go an additional hour before they can break their fast and eat and drink again. For the first time ever, millions of people in one small country are suddenly going by two different time zones. Importantly, however, people's clocks did not change automatically; the government expects people to change their own clocks manually. Even Apple and Google can't seem to agree on what time it is in Lebanon — on iPhones and iPads, Apple has Lebanon's time zone as unchanged and not aligned with daylight saving.

☆ Lebanon wakes up in two simultaneous times zones as government can't agree on daylight savings change
▼ + stars: | 2023-03-27 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

On Sunday, the Mediterranean country of roughly 6 million was scheduled to turn its clocks back an hour for daylight savings, as it does every year along with much of the wider region and Europe. Daylight savings would mean that sunset falls around 7 p.m. rather than 6 p.m., making practicing Muslims go an additional hour before they can break their fast and eat and drink again. For the first time ever, millions of people in one small country are suddenly going by two different time zones. Importantly, however, people's clocks did not change automatically; the government expects people to change their own clocks manually. Even Apple and Google can't seem to agree on what time it is in Lebanon — on iPhones and iPads, Apple has Lebanon's time zone as unchanged and not aligned with daylight savings.

☆ Lebanon has two times of day amid daylight savings dispute
▼ + stars: | 2023-03-26 | by ( Timour Azhari | ) www.reuters.com time to read: +4 min

BEIRUT, March 26 (Reuters) - Lebanon woke up in two time zones on Sunday amid an escalating dispute between political and religious authorities over a decision to extend winter time for a month. Businesses and media organizations, including two of Lebanon's main news channels LBCI and MTV, announced they too would enter daylight savings on Saturday night as calls for disobedience gained steam. LBCI said in a statement that it would disobey Mikati's decision because it would have harmed its work, adding: "Lebanon is not an island". But later that day, Mikati issued the decision to stay in winter time. Some Twitter users shared an old recording of famed Lebanese composer and musician Ziad Rahbani speaking about daylight savings.

☆ Lebanon in confusion as daylight savings dispute deepens divisions
▼ + stars: | 2023-03-26 | by ( Timour Azhari | ) www.reuters.com time to read: +4 min

It said it would turn clocks forward on Saturday night and other Christian organisations, parties and schools announced similar plans. Businesses and media organizations, including two of Lebanon's main news channels LBCI and MTV, announced they too would enter daylight savings on Saturday night. But later that day, Mikati issued the decision to stay in winter time. Independent MP Waddah Sadek said on Twitter decisions were taken without "any consideration for the consequences or confusion that they cause". Some Twitter users shared an old recording of famed Lebanese composer and musician Ziad Rahbani speaking about daylight savings.

☆ Explainer: The probes into Lebanese central bank chief Salameh
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +5 min

BEIRUT, Feb 23 (Reuters) - Lebanese authorities charged longtime central bank governor Riad Salameh, his brother Raja and one of his assistants on Thursday with money laundering, embezzlement and illicit enrichment after months of delay in the high-profile case. Top prosecutor Ghassan Oueidat stopped Tannous from attending a Paris meeting last year with European prosecutors investigating Salameh, Reuters reported. In June 2022, Oueidat ordered a prosecutor to formally charge Salameh with crimes including money laundering, illicit enrichment, forgery and tax evasion. On Thursday, a newly appointed prosecutor, judge Raja Hamoush, charged Salameh with money laundering, embezzlement and illicit enrichment. The finance minister said this month replacing him would be difficult, citing Lebanon's political complexities.

☆ TotalEnergies says well drilling in Lebanon's offshore Block 9 to begin in Q3
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +3 min

Following months of talks, QatarEnergy has taken a 30% stake in the consortium, leaving TotalEnergies and Eni with 35% each. "From a geological point of view, I am positive" about a discovery in Lebanon's Block 9, Descalzi told reporters. Pouyanne and Qatar's energy minister Saad al-Kaabi, also the CEO of QatarEnergy, said they were discussing possible coordination on renewable energy in Lebanon. Lebanon's first licensing round in 2017 saw a consortium of TotalEnergies, Eni and Russia's Novatek win bids to explore. Pouyanne said the maritime border agreement had ended the "deadlock" facing exploration activities in Block 9.

"He is not above God," Oweidat told Reuters, referring to Bitar. Several members of parliament had earlier met with the justice minister and the head of the supreme judicial council. 'JUDICIAL SCANDAL'Families of those killed in the blast, members of parliament and other Lebanese flocked to Lebanon's justice palace on Thursday to demand Bitar be allowed to carry on. This week's developments have set up a tug-of-war in Lebanon's judiciary, where politicians have influence over many appointments. Caretaker Prime Minister Najib Mikati said on Wednesday that splits in the judiciary could have "dangerous consequences" if left unresolved.

☆ Biden advisor says oil price cap is working as Russia takes economic hit
▼ + stars: | 2023-01-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The Group of Seven's oil price cap scheme intended to limit Russian oil export revenues is working "so far so good," according to Amos Hochstein, special presidential coordinator to President Joe Biden. The price cap initiative was introduced on Dec. 5, when the EU stopped taking Russian crude oil. EU countries will no longer be able to access seaborne Russian oil products as of Feb. 5. He did not specify how much the U.S. believes the price ceiling initiative is costing Russia. I think the G7 got together, it's part of the unity of the G7, and I think so far so good," Hochstein said.

☆ Egypt: How the Arab world's most populous country became addicted to debt
▼ + stars: | 2022-12-16 | by ( Cnn Staff | ) edition.cnn.com time to read: +12 min

The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh, are Band-Aids, experts say, designed to keep the Arab world’s most populous country afloat. Without proper reforms, however, Egypt may never be able to shake off its chronic financial woes and break its growing debt addiction. Billions of dollars from Abu Dhabi and Riyadh have poured into the Egyptian economy in recent years. Saudi Arabia’s Public Investment Fund (PIF) also launched the Saudi Egyptian Investment Company (SEIC) in August, a company dedicated to investments in several vital sectors of the Egyptian economy. Still, the Egyptian economy has struggled to shake off its economic woes.

"Humanity has a choice: cooperate or perish,” Guterres told delegates gathered in the seaside resort town of Sharm el-Sheikh. And our planet is fast approaching tipping points that will make climate chaos irreversible,” he said. Signatories to the 2015 Paris climate agreement pledged to achieve a long-term goal of keeping global temperatures from rising by more than 1.5°C above pre-industrial levels. Guterres said that goal will only stay alive if the world can achieve net zero emissions by 2050. The World Trade Organization, meanwhile, said in a report published on Monday that it should tackle trade barriers for low carbon industries to address the role of global trade in driving climate change.

☆ Analysis: Arabs view revived Netanyahu with concern but as balance against Iran
▼ + stars: | 2022-11-02 | by ( Suleiman Al-Khalidi | ) www.reuters.com time to read: +6 min

Lebanon's caretaker prime minister predicted a new maritime border deal would hold, while Palestinians and Jordanian experts forecast new strains. "Netanyahu was part of the Abraham Accords and signed it so there is no change in the course of normalisation," he said. But in Jordan, home to millions of Palestinian refugees and their families, his expected triumph was met with concern. "Today the Israeli right is talking about expelling Palestinians, they are saying there is no (Palestinian) state ..so what is left for Arabs?" Netanyahu "has been terrible for even the semblance of a peace process which Egypt officially upholds," he said.

☆ Explainer: What's at stake as Lebanon faces presidential vacuum?
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +4 min

What makes electing a president so difficult, what's at stake, and who are the candidates? In the event of a vacuum, presidential powers should pass to cabinet led by Sunni Muslim Prime Minister Najib Mikati. The Maronite community is more politically fractured than others in Lebanon, giving rise to many presidential hopefuls. Anti-Hezbollah lawmaker Michel Mouawad has won the most votes in four unsuccessful presidential election sessions so far, but not enough to win. But analysts and political sources say he would face opposition, notably from the Maronite politician Gebran Bassil, President Aoun's son-in-law and a presidential hopeful himself.

☆ Lebanon fails to elect president for third time amid financial meltdown
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

BEIRUT, Oct 20 (Reuters) - Lebanon's parliament failed to elect a president for the third time on Thursday, bringing the country closer to institutional deadlock amid a deep financial crisis. Outgoing President Michel Aoun's term ends on Oct. 31 and divisions remain among political blocs over the makeup of a new cabinet. Thursday's session saw 55 blank votes, 42 for anti-Hezbollah lawmaker Michel Mouawad and the rest of the ballots including scattered votes for political slogans. Speaker of Parliament Nabih Berri has set the next session for Oct. 24. Register now for FREE unlimited access to Reuters.com RegisterReporting by Maya Gebeily; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

☆ EXCLUSIVE Lebanon satisfied with final draft of Israel maritime border deal -top Lebanese negotiator
▼ + stars: | 2022-10-10 | by ( Timour Azhari | ) www.reuters.com time to read: +2 min

BEIRUT, Oct 11 (Reuters) - Lebanon has received a final draft of a U.S.-mediated maritime border deal with Israel that satisfies all of Lebanon's requirements and could imminently lead to a "historic deal," Lebanese lead negotiator Elias Bou Saab told Reuters. "We received minutes ago the final draft... Lebanon felt that it takes into consideration all of Lebanon's requirements and we believe that the other side should feel the same," Bou Saab said. Israel's official view of the latest draft of the deal was not immediately clear. Israel last week rejected last-minute amendments to the deal by Lebanon that briefly appeared to jeopardize longstanding efforts to reach an agreement. Lebanon's president said that a deal would not signify a "partnership" with Israel, a country Lebanon does not recognize and officially regards as an enemy.

On Wednesday, OPEC+, the oil cartel led by Saudi Arabia and Russia, agreed to slash production by 2 million barrels per day, twice as much as analysts had predicted, in the biggest cut since the Covid-19 pandemic. “Saudi Arabia is looking to head off a repeat of 2008 when the market crash sent the global economy into a recession and oil prices suddenly plummeted, requiring emergency action by OPEC,” said Wald. Analysts also say Saudi Arabia cannot afford to let oil prices go below a certain level for budgetary reasons. For its budget to break even, global oil prices must be at around $79 a barrel, according to the International Monetary Fund. That was a warning sign for Saudi Arabia and other oil exporters, who depend on oil for a majority of their revenue.

A picture of Lebanon's Prime Minister-designate Najib Mikati is placed on a residential building in the northern city of Tripoli, Lebanon September 23, 2022. The tragedy has underscored soaring poverty in northern Lebanon, and Tripoli in particular, that is driving ever more people to take desperate measures three years into the country's devastating financial collapse. Tripoli, Lebanon's second city with a population of roughly half a million, was already Lebanon's poorest before the country plummeted into financial crisis, the result of decades of corruption and bad governance overseen by ruling elites. The economic crisis has led poverty to sky-rocket, with 80% of the population of some 6.5 million poor, according to the United Nations. Several other boats attempted the voyage from Lebanon last week: Cyprus rescued 477 people from two vessels that left Lebanon.

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