The defiant move reflects growing concern about the political stalemate in efforts to form a new government, and the worsening financial crisis.Riad Salameh, governor of the Banque du Liban, Lebanon’s central bank, reportedly told President Michel Aoun, caretaker Prime Minister Hassan Diab and caretaker Minister of Finance Ghazi Wazni last week that there is only enough cash in reserve to fund subsidies of basic items such as bread, fuel and medicines for three months.It has $19.6 billion available, $17.5 billion of which must be kept to cover a portion of deposits by bank customers.This leaves $2.1 billion for subsidies, which cost $700 million a month.https://arab.news/vedfe
A final communique said: “The summit took place to strengthen active partnership within the tripartite coordinating mechanism between Jordan, Iraq, and Egypt and in seeking to deepen the strategic complimentary cooperation between the three countries on the economic, development, political security, and cultural level.”The statement added that Egyptian President Abdel Fattah El-Sisi had praised Jordanian King Abdullah’s call to “recalibrate globalization in order to accomplish positive independence and mutual exchange.
Ghassan Al-Turki, a communications engineer, said many private schools had not dealt with the pandemic as well as they could have, and had not refunded fees although students completed only half of the second semester.“The schools promised to offer discounts of up to 50 percent, but many parents believe that there is no point in paying the tuition fees because the schools are not going to use the onsite facilities,” he told Arab News.https://arab.news/mhv9u
Ankara’s recent announcement about its largest-ever gas discovery is an expedient distraction from economic misery at home as it grapples with a tumbling currency, runaway inflation and burgeoning public debt.Qatar provided some band aids to stick over its gaping financial wounds in the form of a credit line, but the country needs much more than this to solve its dire economic crisis.Interestingly, the announcement came after Turkey failed to overcome opposition to its exploration activities from Greece, Egypt and Cyprus in disputed Mediterranean waters.https://arab.news/chp8y
Such would have been the decorous scene that greeted the Australian-born Tarrant that Friday morning 17 months ago when he drove into town in a Subaru bristling with the weaponry and high-tech gadgets he had accumulated for the purpose of killing as many Muslims as he could at the Linwood Islamic Centre and Al Noor Mosque.https://arab.news/ytzn3
The group, which controls Gaza, is designated as a terrorist organization in the US, Europe and several other countries.President Recep Tayyip Erdogan met the leaders in Istanbul on Saturday.The Hamas delegation was lead by the head of its political bureau Ismail Haniyeh, and included deputy chief Saleh Al-Arouri - wanted in the US as a terrorist.“The United States strongly objects to Turkish President Erdogan hosting two Hamas leaders in Istanbul,” State Department spokeswoman Morgan Ortagus said.https://arab.news/pazjf
What has mainly grabbed the headlines so far are efforts by pharmaceutical laboratories to come up with successful treatment options, vaccines in particular.Behind the scenes, complex negotiations are under way to buy a working vaccine as soon as it becomes available, according to experts.Several countries, including some in the Middle East, are involved in talks with leading companies and research institutes engaged in various phases of trials.https://arab.news/8kpnv
Riad Salameh has long been perceived as the strongman of Lebanon, the guardian of an economic model that has been the envy of many throughout the region.A skilled financier, he guaranteed the stability of the Lebanese pound for nearly 30 years and was awarded by the largest financial institutions.The banker saw his life change, however, with the October 2019 uprising and the economic collapse, which have mired the Land of the Cedars in turmoil.
The agreement, brokered by Donald Trump, makes the UAE the third Arab country to have full diplomatic relations with Israel in return for an end to Israeli threats to annex Palestinian land.In Jerusalem on Monday, Pompeo said he hoped more Arab countries would reach similar agreements with Israel.In the call with Sheikh Mohammed, they discussed the prospects for strengthening the deal “in a way that serves the foundations of peace and stability in the region.https://arab.news/rnp4d
Western Europe, particularly Spain, Italy Germany and France, has been hit with infection levels not seen in many months, sparking fears of a fully-fledged second wave.And in Asia, South Korea became the latest country to announce it would boost restrictions to try to stem a new outbreak, after largely bringing the virus under control.Across the world, the number of deaths has doubled to just over 800,000 since June 6, with 100,000 fatalities in the last 17 days alone, while more than 23 million cases have been reported.
Health authorities reported 10,339 new cases and 912 deaths, bringing the total to 3,044,940.Cases have leveled off in India’s two largest cities, with serological surveys showing widespread prevalence among the residents of the capital, New Delhi, and financial center Mumbai.https://arab.news/vtewr
S Global Ratings maintained the “selective default” or “SD” rating for Lebanon’s foreign debt, after the country first defaulted in March, but three more bonds were cut to “D” from “CC,” the agency said.“The recent catastrophic explosion in Beirut is deepening the country’s economic crisis,” S said in a statement.“A protracted political vacuum or weak new government could further delay policy reforms, external aid and debt restructuring negotiations.https://arab.news/9ce6n
One of the sources said Deutsche Boerse and Swiss stock exchange Six had also presented bids for the MTS platform used for trading Italy’s huge sovereign debt.The non-binding bids for a stake of more than 60 percent in MTS are believed to be in the range of €300-€350 million ($355-$410 million), sources said.Italian daily la Repubblica reported on Saturday that the US stock exchange Nasdaq had also presented a non-binding offer, as well as the bidders cited to Reuters.https://arab.news/58f46
Houston missed its first seven shots of overtime before Danuel House made a 3-pointer with less than a minute left.By then it was too late.Game 4 of the best-of-seven series is Monday.The Thunder had a balanced scoring attack, with Shai Gilgeous-Alexander adding 23 points and Danilo Gallinari had 20.Jeff Green had 22 points for the Rockets.They have played the entire series without Russell Westbrook, who is out with a strained right quadriceps.https://arab.news/2rffj