by ncronline.org — VATICAN CITY — Two weeks after meeting Pope Francis at the Vatican and inviting him again to visit Lebanon, President Michel Aoun tweeted that the visit could take place as early as June. The “Lebanese Presidency” Twitter account said, in Arabic, “President Aoun was informed by the papal ambassador that Pope Francis […]

by reuters — BEIRUT — The Governor of the Bank of Lebanon, Riad Salameh, denied “what is being circulated about the bankruptcy of the Central Bank, and considered that this is not true.” In a statement, Salameh said that despite the losses that afflicted the financial sector in Lebanon, which are under treatment in the […]

By Najia Houssari — arabnews.com — BEIRUT: Lebanon and its central bank are bankrupt, according to the country’s deputy prime minister. The “state is bankrupt … so is the Banque du Liban,” Saadeh Al-Shami said on Monday, adding that “the loss has occurred, and we will seek to reduce the losses for the people.” He said the losses would be attributed to the state, the central bank, and other lenders and depositors. “We cannot live in a state of denial as we cannot allow withdrawals for all people who have deposits in banks,” he said. Al-Shami’s statement came as a delegation from the International Monetary Fund is in talks with the Lebanese government on a financial recovery plan.

Economic groups in Lebanon have objected to a plan presented to the IMF that clears the state of liability and leaves depositors and banks to foot the bill. It also turns state debt into heavy losses for the Lebanese economy and society. After a meeting with the head of the IMF mission, Ernesto Ramirez-Rigo, the groups said that depositors’ money had been squandered due to the fixing of the exchange rate, interest rate differences, and the state’s expenditure. They objected to “easy solutions, by adopting an accounting approach that eliminates losses without any special considerations.” They also stressed the need to preserve the rights of depositors and the continuity of the banking system.

By Payton Bruni — albawaba.com — Lebanese MMA fighter Sandra Succar has become a world champion in the women’s bantamweight division for the international MMA association GAMMA. The 22-year-old fighter competed in the GAMMA global championship in Amsterdam on March 27, 2022, and won with a triangle choke submission. As the referee raised her hand […]

by english.aawsat.com — Lebanon’s political forces fear a low turnout in the upcoming parliamentary elections on May 15, as recent opinion polls published by statistics centers have pointed to a lack of public enthusiasm over the elections. The situation has prompted the country’s politicians to urge the voters to participate massively in order to achieve the required change. Religious clerics, including Maronite Patriarch Bechara Al-Rai, Grand Mufti Sheikh Abdel Latif Derian, and other prominent figures, have been repeatedly calling for a wide participation in the elections, as a first step towards addressing the deteriorating economic and social crises.

In this regard, Lebanese Forces MP Pierre Bou Assi, said he hoped that the voter turnout in Baabda constituency would reach one hundred percent, stressing that boycotting the polls was “the worst option under these circumstances.” In turn, member of the Democratic Gathering bloc, MP Wael Abu Faour, said that the Progressive Socialist Party (PSP) was facing a major electoral battle. “We are confident that the people of Rashaya and the Western Bekaa have understood this challenge,” he stated.

by AFP  — Iraq, once synonymous with conflict and chaos, is becoming a land of opportunity for Lebanese job-seekers fleeing a deep economic crisis back home. Akram Johari is one of thousands who fled Lebanon’s tumbling currency and skyrocketing poverty rates. Last year, he packed his bags and boarded a plane from Beirut to Baghdad, using social media to search for opportunities. “I didn’t have enough time to look for a job in the Gulf,” the 42-year-old said, explaining why he eschewed the more traditional path for those seeking economic opportunities in the region. With its relative proximity and visas on arrival for Lebanese, the Iraqi capital seemed a good option. “I had to take quick action, and so I came to Baghdad and began searching for work on Instagram,” Johari said, speaking in a restaurant he has run for about a month.

Lebanon is grappling with an unprecedented financial crisis that the World Bank says is of a scale usually associated with war. Beirut’s crisis, driven by years of endemic corruption, has seen Lebanon’s currency lose more than 90 percent of its value against the dollar. Lebanon’s 675,000-pound monthly minimum wage now fetches around $30 on the black market, and about 80 percent of the population now lives in poverty, according to the U.N. When he left Beirut, Johari was earning the equivalent of about $100 per month. In Iraq, he earns enough to support his family back home, he said.

by knews —The American University of Beirut is officially opening its doors beginning next year with a campus in Paphos, according to Paphos Mayor Phedonas Phedonos. In statements on Wednesday, Mr. Phaedon said that the new University will mark a new era for the city of Paphos. Construction of the new campus is expected to start in June or July of this year, with a cost of 29 million euros. New enrollments are expected to begin in September 2023. According to the Mayor, the Paphos campus of the American University of Beirut will accommodate approximately 2 thousand students and will offer three faculties, computer science, economics and business and the School of Civil Engineering. In his statements, the Mayor thanked the government for its support of the project while announcing that the agreement with AUB will be officially formalized in a ceremony this Friday in which the Mayor, the President of Cyprus and the US Deputy Secretary of State are expected to be present.

​​Founded in 1866, the American University of Beirut bases its educational philosophy, standards, and practices on the American liberal arts model of higher education. It was granted institutional accreditation in June 2004 by the Commission on Higher Education of the Middle States Association of Colleges and Schools in the United States which was reaffirmed in 2016. AUB Beirut currently offers more than 130 programs for bachelor’s, master’s, MD, and Ph.D. degrees.

By Najia Houssari — arabnews.com — BEIRUT: Parties standing in the May 15 parliamentary elections in Lebanon are hurrying to draw up their candidate lists ahead of the Monday deadline for registration. Campaigning for the elections is gathering pace as candidates visit their constituents across the country and their rhetoric becomes increasingly inflammatory. Most of the parties in power have announced their lists and alliances, but the opposition and independent forces are still forming lists and alliances.

A voter in the Baalbek-Hermel constituency told Arab News that “Hezbollah mobilized all its electoral machinery and began touring the voters, wooing them in Beirut and its southern suburbs, in the Bekaa and the south.” The voter added that party delegates “enquire about the number of voters in each house and whether they need transportation to reach the polling booth, and ask them to fill out a specific form to communicate with them.” The voter, who declined to be named, also indicated that Hezbollah’s delegates were being challenged during campaigns. They said people were raising queries about how the party had benefited them during the last period of being in power, and that their situation had become worse. “The same applies to other parties whose electoral machines face losing the voter enthusiasm.”

NNA – Minister of Industry, George Boujikian, on Friday said during his meeting with the CEO and founder of “Made in Lebanon” that the United States’ openness to Lebanese products was very encouraging. “It’s an outright evidence of the high quality our national industry, especially with the recognition of the US authorities, particularly the Food […]

By Najia Houssari — arabnews.com — BEIRUT: Lebanon’s Grand Mufti Sheikh Abdel Latif Derian has called on Lebanese voters to participate in upcoming parliamentary elections without hesitation. “Any alternative produced by the elections is better than the coercive and corrupt authority, and some candidates are motivated and willing to create change,” he said. Addressing the Lebanese people on Friday ahead of Ramadan, Derian criticized what he called a “corrupt clique” in power. He accused them of demolishing “everything that the Lebanese built in 100 years, including the judiciary and the banking sector, as well as Lebanon’s relations with Arab and international countries.” Derian criticized the “desperate attempts to ruin Lebanon’s identity, belonging and constitution, and destroy the principle of separation of powers in favor of personal feuds and miserable political interests.”

FASTFACT

Lebanon’s Grand Mufti Sheikh Abdel Latif Derian has called on Lebanese voters to participate in upcoming parliamentary elections without hesitation. He expressed concern about the military losing stature and power in favor of militias that follow orders from abroad.