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☆ 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.

☆ Syrian refugees return home as Lebanese repatriation scheme begins
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

[1/5] Syrian refugees sit with their belongings on a pick-up truck as they prepare to return to Syria from Wadi Hmayyed, on the outskirts of the Lebanese border town of Arsal, Lebanon October 26, 2022. REUTERS/Mohamed AzakirARSAL, Lebanon Oct 26 (Reuters) - Hundreds of Syrian refugees living in Lebanon returned home on Wednesday, the first day of repatriations organised by Beirut, amid concerns from rights groups that the scheme may involve elements of coercion. Lebanese authorities say the repatriations, under a revived programme run coordinated by the country's General Security agency, are voluntary. In 2018, the General Security agency launched a mechanism through which any Syrian refugee could signal a desire to return home, liaise with Syrian authorities to make sure that individual was not wanted there. That pathway saw around 400,000 Syrians return home but was put on hold with the outbreak of COVID-19.

☆ Lebanon deputy PM says state cannot "save all depositors" who lost funds in crisis
▼ + stars: | 2022-10-24 | by ( Maya Gebeily | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterSpeaking on local broadcaster LBCI, Chami said the state's plan to plug a $72 billion hole in the financial system would not be able to "save all depositors." Chami said the government's total foreign currency reserves - including its gold deposits - amount to between $25 billion and $30 billion "at best." Parliament still needs to approve a banking resolution framework to address Lebanon's bloated commercial banking sector and a capital controls law. Chami said he expected that most banks would not face problems in paying back depositors or undergoing a restructuring. Register now for FREE unlimited access to Reuters.com RegisterReporting by Maya Gebeily; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Lebanese president calls on Totalenergies to start drilling after deal with Israel
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: 1 min

CAIRO, Oct 18 (Reuters) - Lebanese President Michel Aoun called on Totalenergies (TTEF.PA) to quickly start drilling in block 9 in the Mediterranean sea. The Lebanese Presidency said Aoun met with a delegation from the company and called for a start to drilling to offset the time spent in indirect negotiations with Israel to demarcate the southern maritime borders. Earlier this month, Lebanon and Israel reached an agreement demarcating a disputed maritime border between them after years of U.S.-mediated negotiations. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nayera Abdallah, Writing by Yasmin Hussein, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Lebanon MPs pass second attempt at new banking secrecy law
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

BEIRUT, Oct 17 (Reuters) - Lebanon's parliament on Thursday passed another round of amendments to a banking secrecy law after the International Monetary Fund said a previous draft retained key deficiencies. The IMF has laid out a list of reforms, including amending its banking secrecy law, that Lebanon must implement before it can gain access to $3 billion to relieve its economic crisis, one of the worst in modern history. Parliament passed an amended banking secrecy law in late July but the IMF recommended a slew of changes and Lebanese President Michel Aoun sent it back to parliament to make them. The latest draft still does not lift banking secrecy as a whole. The law still needs to be signed into law by Aoun, whose term ends on Oct. 31.

☆ Lebanon to resume sending refugees back to war-damaged Syria
▼ + stars: | 2022-10-12 | by ( Timour Azhari | ) www.reuters.com time to read: +3 min

Lebanon hosts the highest number of refugees per capita in the world. The plan would not involve the United Nations, which maintains that conditions in Syria do not allow for the large-scale return of refugees. The Lebanon office of the U.N. refugee agency, UNHCR, said it was "not facilitating or promoting the large-scale voluntary repatriation of refugees to Syria." New York-based advocacy group Human Rights Watch (HRW) said in July that "Syria is anything but safe for returnees". In its September report, the United Nations' Syria commission said the country was still not safe for returnees.

read moreIt will take effect once Lebanon and Israel send letters to Washington, which will issue a notice announcing the deal is in place. Parties to the deal would seek to resolve any further maritime differences through the United States, securing an ongoing guarantor role for Washington. A centrist, Lapid's caretaker government wants the deal done soon but has denied that the country's election is the deadline. TotalEnergies is set to begin exploration at the Qana prospect immediately after the deal takes effect, though Lebanon's energy minister said preparations would take a number of months. Seeking to play down future Lebanese profits, Israeli Energy Minister Karine Elharrar told Tel Aviv's 103 FM radio initial estimates put that prospect's total value at some $3 billion.

☆ Silicon Valley's not-so-secret thing for turning everyone into millionaires is angel investing. Here's how they do it.
▼ + stars: | 2022-10-11 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +10 min

Once only for the superrich, angel investing is now open to anyone with a few thousand dollars. With an estimated 360,000 active angel investors, it's become a favorite pastime in Silicon Valley. "It felt like gambling," David Spreng, a veteran venture-debt investor who's been angel investing as a side hustle for more than a decade, said. He wrote his first angel check shortly thereafter, a $1,000 investment in an electric-aircraft maker. The currency of Silicon Valley"Your currency, for lack of a better term, in Silicon Valley is you either started a company or you angel invest, right?"

☆ At war for decades, Lebanon and Israel edge towards a rare deal
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +4 min

A general view shows the Lebanese-Israeli border as seen from the southern Lebanese village of Khiam, Lebanon October 11, 2022. Some 100,000 Palestinians who fled or were expelled from their homes in Palestine during the war arrive in Lebanon as refugees. 1978Israel invades south Lebanon and sets up an occupation zone in an operation against Palestinian guerrillas. 1985Israel establishes an occupation zone in southern Lebanon, about 15 km (nine miles) deep, after it pulled back from a line further north, controlling the area with a proxy force, the South Lebanon Army. 2000Israel withdraws from southern Lebanon, ending 22 years of occupation.

☆ Israel and Lebanon reach historic agreement to resolve a long-running maritime border dispute
▼ + stars: | 2022-10-11 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Israel and Lebanon have brokered a historic agreement to resolve a long-running maritime border dispute on Tuesday, following months of negotiations mediated by the United States. Israel and Lebanon reached a historic agreement to resolve a long-running maritime border dispute on Tuesday, following months of negotiations mediated by the United States. "This is a historic achievement that will strengthen Israel's security, inject billions into Israel's economy, and ensure the stability of our northern border," Israel's Prime Minister Yair Lapid said in a statement. Negotiations pertaining to the Israeli-Lebanese border dispute over gas-rich waters off the countries' Mediterranean coasts have been ongoing since October 2020. The Israel president also thanked U.S. special envoy Amos Hochstein for his "hard work" in mediating the agreement.

☆ Factbox: Strained emerging economies in focus at the IMF World Bank meeting
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

On Friday, the IMF said its executive board approved Kyiv's request for $1.3 billion in emergency funding through a Rapid Financing Instrument. This is on top of $1.4 billion the IMF has provided to Ukraine since the start of the war. Former central bank governor Kyrylo Shevchenko said in July that Kyiv hoped for a $15-$20 billion IMF programme before year-end. On Friday, IMF staff said talks with Ghana's government about a potential loan programme had been constructive but more work was needed on a debt-sustainability analysis. EGYPTA major grain importer that depends heavily on tourism revenue, Egypt has experienced a double whammy from COVID-19 and soaring food prices with no current IMF programme in place.

A view shows the border wall between Lebanon and Israel as pictured from Kfar Kila village, southern Lebanon, October 11, 2022. The agreement is meant to resolve a territorial dispute in the eastern Mediterranean sea in an area where Lebanon aims to explore for natural gas. It was also endorsed by the heavily armed, Iran-backed Lebanese group Hezbollah, which until recently has threatened to attack Israeli gas facilities, according to two officials. While Israel has moved ahead with production and export of natural gas, Lebanon's efforts have been hamstrung by political dysfunction. An Israeli official said final approval was expected within the next three weeks.

☆ Lebanese MPs to convene to elect new president, no consensus on candidate
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterBEIRUT, Sept 27 (Reuters) - Lebanese parliament speaker Nabih Berri will call for a session to elect a new president on Sept. 29, state media reported, despite no political consensus on a candidate and dim chances of a sucessful vote. Register now for FREE unlimited access to Reuters.com RegisterThe votes of two-thirds of lawmakers in the 128-member legislature are required for a candidate to be sucessful in the first round of voting, after which a simple majority suffices. Aoun came to power after a 29-month presidential vacuum in which parliament was unable to agree on electing a president. Aoun is limited to one term, and major political parties have not announced any agreement on his successor. Register now for FREE unlimited access to Reuters.com RegisterReporting by Timour Azhari; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Lebanon's progress in implementing reforms remains very slow - IMF
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

Dalati Nohra/Handout via REUTERSBEIRUT, Sept 21 (Reuters) - Lebanon's progress in implementing reforms required to unlock relief funds from the International Monetary Fund (IMF) remains very slow, the IMF said in a statement on Wednesday. "Despite the urgency for action to address Lebanon's deep economic and social crisis, progress in implementing the reforms agreed under the April (staff-level agreement) remains very slow," the IMF said at the end of its delegation's visit to Beirut. The IMF said Lebanon's small depositors must be fully protected and recourse to public resources should be limited. After meeting the IMF delegation on Wednesday, Lebanon's President Michel Aoun said that "domestic actors" had slowed progress towards reform. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal, Mahmoud Mourad, Aidan Lewis and Maya Gebeily; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Nadim Cherfan, founder of the Lebanese dance troop 'Mayyas' who won the America's Got Talent competition, is welcomed with his troop at Beirut airport, Lebanon September 16, 2022. REUTERS/Mohamed AzakirBEIRUT, Sept 15 (Reuters) - Lebanese celebrated at home and abroad on Thursday, despite their homeland's crises, as they woke up to the news that local female dance troop Mayyas had won the America's Got Talent competition on U.S. television, bagging a $1 million prize. Lebanon, this one's for you," the group posted on Instagram alongside a video of their winning act - an Arabesque performance embellished with feathers and glowing white orbs. "It's like a big middle finger to everything dragging you down in Lebanon," Farah told Reuters. Messages of congratulations filled Twitter on Thursday morning as Lebanese learned of the win, which had taken place overnight as they were sleeping.

☆ Raportul FBI a dezvăluit ce a provocat explozia din Beirut: Unde au dispărut celelalte 2.200 de tone de nitrat de amoniu?
▼ + stars: | 2020-12-30 | by ( ) www.zdg.md time to read: +2 min

„Raportul FBI a dezvăluit că doar 500 de tone au explodat”, a declarat Hassan Diab în timpul unei conferinţe de presă. Dar “unde au dispărut celelalte 2.200 de tone?”, a întrebat el. Ancheta continuă să bată pasul pe loc la cinci luni după explozia care a traumatizat naţiunea libaneză şi a devastat cartiere întregi din Beirut. Alături de trei foşti miniştri, Diab a fost inculpat pe 10 decembrie de judecătorul care răspunde de anchetă. Cu toate acestea, câteva zile mai târziu, ancheta a fost temporar suspendată, doi dintre miniştrii acuzaţi cerând recuzarea judecătorului Fadi Sawan.

Persons: demisionar Hassan, Diab, Hassan, Michel Aoun Organizations: FBI Locations: Beirut, demisionar, SUA, Agerpres, Liban, miniştrii

☆ FBI a finalizat raportul privind explozia din Beirut
▼ + stars: | 2020-12-30 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Explozia sângeroasă care a avut loc pe 4 august în portul din Beirut a fost provocată de 500 de tone de nitrat de amoniu, a anunţat premierul libanez demisionar Hassan Diab, citând rezultatele unei anchete a Biroului Federal de Investigaţii (FBI) al SUA, informează AFP. "Raportul FBI a dezvăluit că doar 500 de tone au explodat", a declarat Hassan Diab în timpul unei conferinţe de presă. Ancheta continuă să bată pasul pe loc la cinci luni după explozia care a traumatizat naţiunea libaneză şi a devastat cartiere întregi din Beirut. Alături de trei foşti miniştri, Diab a fost inculpat pe 10 decembrie de judecătorul care răspunde de anchetă. Cu toate acestea, câteva zile mai târziu, ancheta a fost temporar suspendată, doi dintre miniştrii acuzaţi cerând recuzarea judecătorului Fadi Sawan.

Persons: demisionar Hassan, Diab, Hassan, Michel Aoun Organizations: FBI, Agerpres Locations: Beirut, demisionar, SUA, Liban, miniştrii

„Raportul FBI a dezvăluit că doar 500 de tone au explodat”, a declarat Hassan Diab în timpul unei conferinţe de presă. Dar „unde au dispărut celelalte 2.200 de tone?”, a întrebat el, citat de Agerpres, citează Digi24. Ancheta continuă să bată pasul pe loc la cinci luni după explozia care a traumatizat naţiunea libaneză şi a devastat cartiere întregi din Beirut. Alături de trei foşti miniştri, Diab a fost inculpat pe 10 decembrie de judecătorul care răspunde de anchetă. Cu toate acestea, câteva zile mai târziu, ancheta a fost temporar suspendată, doi dintre miniştrii acuzaţi cerând recuzarea judecătorului Fadi Sawan.

Persons: Diab, Hassan, Michel Aoun Organizations: FBI Locations: Liban, Beirut, miniştrii

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