MENAFN) Lebanon is expected to be forced to delay its debt, even though it already imposed steps to cut its deficit in this year’s state budget, as Moody’s suggested. Rating agency Moody’s affirmed: “Lebanon may have to reschedule its debt due to the slowdown of capital flows to the country and the decline in deposits growth.” Governor of the Central ...

(MENAFN) Lebanon is expected to witness an optimistic outlook as a result of reforms that it passed in this year’s state budget. However, Vice President of the World Bank for the Middle East and North Africa region Ferid Belhaj called for Lebanon to exert more efforts in its economic reforms. According to the vice president, “Lebanon is doing well with ...

“No more business as usual,” that’s the message from one of Lebanon’s top business leaders and lawmakers to France. Fouad Makhzoumi has appealed to the French government not to turn a blind eye to corruption in Lebanon, as the Arab state battles to pass this year’s budget. “Normally, governments do not like to hear bad news,” says Makhzoumi. “They would ...

Lebanon seeks Russia’s mediation on its maritime border with Syria. “We have knowledge that Syria wants to demarcate the maritime border with Lebanon, and Russia is present in this area and at this border in particular,” Lebanese Defense Minister Bou Saab told the Russian news agency. Saab mentioned that Russia may be incentivized by its own economic interests in the area. Together with Italian Eni ...

(Beirut) – The Borj Hammoud landfill, one of two principal landfills serving Beirut, Lebanon, is set to reach capacity by the end of July 2019, Human Rights Watch said today. The government had initially estimated that the landfill would be in operation until 2020. The government has taken no steps to provide an alternative site for Beirut’s solid waste. Instead, ...

With its crumbling Mamluk buildings, crusader castle, colourful souq and mouth-watering oriental sweets, Tripoli has long played the role of a busy commercial hub, strategically located on the Lebanese coastline close to the Syrian border. Beneath the city’s landmark early-20th century clock tower, bus drivers wait for customers heading to the capital Beirut or the Syrian city of Tartus, while ...

Lebanese authorities have been advised through European diplomatic channels to steer Lebanon clear of any possible military confrontation in the Gulf region over rising tension between the United States and Iran, Lebanese cabinet ministers said. The ministers, who refused to be identified, confirmed to Asharq Al-Awsat that the European and non-European advice to Lebanon stressed the need to respect the ...

Egypt will support the UAE and other Arabian Gulf states to prevent attempts to destabilise the region, President Abdel Fattah El Sisi said on Sunday, following the attacks on two tankers in the Gulf of Oman last week. The Egyptian leader’s comments came during a meeting with UAE Minister of Foreign Affairs and International Co-operation Sheikh Abdullah bin Zayed in Cairo. ...

COSAFA president, Philip Chiyangwa, arrived here in the early hours of today for various meetings with the continental game’s leadership ahead of the start of the 2019 AFCON finals on Friday. A photo, showing Chiyangwa in the company of CAF president, Ahmad Ahmad, here in a Cairo hotel, was released today, confirming that the duo had met to discuss a ...

Egypt has signed a $500m settlement with state-owned Israel Electric Corp over a defunct natural gas deal, the Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas (EGAS) said in a statement. The statement said that under the agreement signed on Sunday, Egypt will pay the amount over a period of eight-and-a-half years in exchange for the Israeli company dropping all ...