by aawsat.com — The Lebanese state is seeking to control the rise in the value of the US dollar against the local currency by clamping down on money changers who have failed to adhere to the limits set by the central bank and the Lebanese Money Changers Association. Last week, the Association said it had […]

by arabnews.com — NAJIA HOUSSARIBEIRUT: In response to the unveiling of US President Donald Trump’s Middle East peace plan on Tuesday, politicians and activists in Lebanon reiterated their support for the right of Palestinians to return to their homeland, and said they would reject any attempt to permanently resettle refugees on its soil. Trump’s plan includes billions of dollars of investment in the Palestinian territories and neighboring countries, including Lebanon, which is grappling with an unprecedented economic crisis. Some are worried that the investment might be an inducement to accept the permanent settlement of Palestinian refugees, sparking renewed fears of a shift in the country’s Christian-Muslim balance. Lebanon hosts 12 refugee camps for Palestinians. A day of protest about the Trump plan was due to take place in the camps on Wednesday, including a general strike, marches and rallies.

Figures from the Lebanese Ministry of Interior reveal that the country hosted almost 600,000 Palestinian refugees between 1948 and 2016. The number registered with The United Nations Relief and Works Agency for Palestine Refugees (UNRWA) is 459,292. A census carried out in 2017 by Lebanon’s Central Statistics Department and the Palestinian Central Bureau of Statistics in 2017 found that 174,422 refugees lives in the camps. “Lebanon does not currently have any strategy on how to face this difficult moment,” said Hassan Mneimneh, head of the Lebanese–Palestinian Dialogue Committee (LPDC), an inter-ministerial government body. “The Ministry of Foreign Affairs has not prepared any strategy on how to deal with any attempt to impose resettlement as a fait accompli. We, as Lebanese, must strive to confront this long path because resettlement will not happen overnight, and Lebanon must refuse any trade off between its faltering economic situation and the resettlement issue. There should be no compromise on this matter at all. “The solutions to the economic crisis must be far removed from the temptations that might be offered to Lebanon in exchange for resettlement.”

(MENAFN – Asia Times) Lebanese student Adham al-Sayed was completing the last four months of his PhD in Wuhan, China this week, when instead of a quiet Lunar New Year of thesis work, he found himself at the epicenter of the coronavirus outbreak, cordoned off in a province on lockdown. Chinese authorities on January 22 ordered a “sanitary cordon” of Hubei province, shutting down transportation routes and effectively sealing off more than 50 million people, including thousands of foreign students studying in the capital city Wuhan. “The first day was crazy. Everyone was going to the shops to stock up on supplies. We were afraid that the next day, there wouldn’t be water,” Sayed told Asia Times via Whatsapp call from his international students’ dormitory.

Wednesday, Sayed says, was the first time he dared to leave his small apartment since the start of the province-wide quarantine, aimed at halting the spread of the epidemic, which has killed more than 100 people and infected thousands of others in China and beyond. With a black protective mask on his face and hood over his head, the 32-year-old, one of thousands of foreign students in the city, filmed his venture into the streets of Wuhan on Facebook live. While the streets appear mostly deserted, vegetable markets and pharmacies, he shows, are open and operating on normal business hours to serve the handful of people venturing out to re-stock. Pointing to a four pack of 2-liter water bottles he has just purchased, he explains they are still being sold at their pre-epidemic price of ￥10 ($1.44). “I wanted to kiss him, but I can’t,” he laughs, speaking of the mini-market owner through a protective mask.

by techcrunch.com Jonathan Shieber — The Los Angeles startup community is joining the rest of the world in mourning the death of NBA superstar, entrepreneur and investor Kobe Bryant who was killed in a helicopter crash in Calabasas, Calif., shortly before 10 a.m. on Sunday. Reports indicate that Bryant, his 13-year-old daughter Gianna Maria-Onore Bryant and seven other passengers were on board a helicopter traveling to Bryant’s basketball training facility Mamba Academy. There were no survivors. The 41-year-old NBA All-Star, Olympic medalist, Oscar winner and father of four was most famous for his achievements on the basketball court, but had established himself as an entrepreneur and investor whose reach extended far beyond the Los Angeles area that he called home. “Kobe was loved in Los Angeles,” wrote Mark Suster, managing partner of the Los Angeles-based venture capital firm Upfront Ventures, in a private message to TechCrunch. “He not only played at the peak of his sport but everything he did was quality from film, to books to philanthropy. It’s truly a sad day in LA.”

Bryant launched his venture career with partner and serial entrepreneur Jeff Stibel back in 2013, according to Crunchbase. The pair made a mix of early and late-stage investments in Los Angeles-based companies like LegalZoom, Scopely, Art of Sport, The Honest Company, RingDNA, FocusMotion, DyshApp and Represent. Last year, the investment firm expanded with a $1.7 billion investment vehicle that was launched in partnership with the private equity fund, Permira, according to a report in USA Today. “At my firm we have a saying, the greats study the greats. So I read about many captains of industry to learn about their journeys. However Kobe was more than a great. He aspired to be and worked relentlessly to be the best at whatever ‘game’ he decided to focus on. In basketball he was the best player of his generation. In writing, he won an Oscar right out the gate, in tech and investing he stood up an investment firm and quickly generated significant returns — a $6 million investment in BodyArmor became $200 million,” wrote Marlon Nichols, of MAC Venture Capital. “He was one of those rare talented humans whose effort matched his talent. I personally learned so much about focus and dedicating yourself to a goal from him. Kobe was beyond great, he was legend, he was a generational leader. Scratch generation leader. He was the kind of talent and leader that you see once in a lifetime.”

By Andrew O’Reilly, John Roberts | Fox News — President Trump on Tuesday called for a two-state solution to resolve the Israeli-Palestinian conflict, as he unveiled the details of his administration’s much-awaited Middle East peace plan. Trump announced the proposal alongside Israeli Prime Minister Benjamin Netanyahu during remarks in the East Room of the White House. “My vision presents a win-win situation for both sides,” Trump said. “Today Israel has taken a giant step toward peace.” He later tweeted a map of the proposed State of Palestine. While Trump and Netanyahu praised the plan as a way toward ending the decades-long conflict between the Israelis and Palestinians, odds of the peace plan taking shape are long given that the Palestinians have preemptively rejected the plan. “This is a great deal,” Trump said. “And the Palestinians may not have this opportunity ever again.”

Trump acknowledged he’s setting out toward a goal that has eluded every U.S. president in modern times but claimed those prior efforts were too vague and short on critical details. Trump declared his plan is “the most detailed proposal ever put forward.” “All prior administrations from President Lyndon Johnson have tried and failed,” Trump said. “In the past, even the most well-intentioned plans were light on details.” Trump added: “There is nothing tougher than this one, we have an obligation to humanity to get it done.” Netanyahu, who faces a tough re-election in March amid a corruption scandal, used his time on the dais to praise Trump’s plan and how it benefited Israeli sovereignty and security. The Israeli leader added that past deals had not had the “right balance between Israeli security and Palestinians aspirations.” “You have charted a brilliant future for Israelis and Palestinians toward a lasting peace,” he said. “For decades that peace has proved elusive.” He added: “It’s a great plan for Israel, it’s a great plan for peace.”

by gulfnews.com — Damascus: Lebanese Parliament Speaker Nabih Berri and ex-director of general security Jamil Al Sayyed are technically part of the same team, both affiliated with the Hezbollah-led March 8 Coalition. In reality, however, the two Shiite politicians are miles apart, due to the simmering rivalries between them. Prime on the list is a firm belief among Berri’s supporters that Al Sayyed wants to succeed him as speaker of parliament — a post that Berri has held since 1992. “The battle for the post of speaker of parliament is already underway,” said political analyst Fadi Akoum, “although the new elections are not due before two years from now.”

The threat raised much anger in Berri circles, who accuse Al Sayyed of insulting their boss. Hezbollah, a firm ally of both Nabih Berri and Al Sayyed, has been surprisingly silent over the latest spat, standing at arms-length from both men. Berri and Al Sayyed first worked together in the 1980s, when the former held the ministry of justice and Al Sayyed was director of intelligence in South Lebanon. In 1998, Al Sayyed was promoted to the job of director of general security, during the era of Syria’s strongman in Lebanon, President Emille Lahhoud.

Al Sayyed became a powerbroker in Lebanese politics, challenging Berri’s long-established grip over the Shiite community. He was discharged and arrested in 2005, accused of the murder of former Prime Minister Rafik Hariri. Upon his release in 2009, he launched his political career within the Hezbollah-led March 8 Coalition, challenging Berri, who was supposed to be a tactical ally. “Politicians in Lebanon have traditionally named their successors, whether in their own political parties or government posts,” said Akoum. “Berri has not named a successor, which explains Sayyed’s ambition to succeed him as speaker. He has positioned himself within the Resistance Bloc, which means full support from Hezbollah. The problem is how he will deal with the Future Movement, where many still accuse him of either taking part in or knowing about the conspiracy to assassinate Hariri.”

BEIRUT (Reuters) – Lebanon’s Christian religious authorities on Tuesday urged anti-government protesters to give a new government breathing room to tackle a dire financial crisis, condemning what they described as mob assaults on security forces in recent marches. Many demonstrators have rejected the government formed last week by the Iran-backed Shi’ite group Hezbollah and its allies without participation of major political parties including the second-largest Christian party, Lebanese Forces (LF). Demonstrations that began last October against a political elite blamed for steering Lebanon into its worst crisis in decades have turned violent as some protesters clashed with security forces at barricades around parliament and government headquarters in central Beirut to demand an independent cabinet. “The Fathers stress the right for peaceful demonstrations to demand reform, but strongly reject the mobs on the streets and squares, especially in Beirut, lest the mobilization veers away from its noble goals,” the Christian religious leaders said in a statement after a summit.

by reuters — When she heard Lebanese banks would limit cash withdrawals, Rita, a doctor, rushed out to buy a $10,000 Rolex watch on her credit card, anxious to protect some of her savings. “It’s better than keeping my money in the bank,” she said. Every week, account holders line up for their quota of cash – for some less than $200 – from their banks, which have also blocked foreign money transfers as Lebanon sinks deep into economic crisis. Dollar shortages have pushed up prices, the Lebanese pound has slumped on the parallel market and confidence in the banking system has all but collapsed. People with savings in the bank are scrambling to get their money out, buying jewellery, cars and land with credit cards or cashier’s checks.

Several people told Reuters news agency they feared even tighter controls, a haircut on their deposits, bank failure or a devaluation of the Lebanese pound, which has been pegged to the United States dollar for 22 years. They asked not to be fully identified due to safety concerns. Lebanon’s central bank insists deposits are safe and has pledged to maintain the dollar peg, while the head of the country’s banking association said the limits on withdrawals and other measures aimed “to keep the wealth of Lebanon” in the country. As remittances from abroad started to dry up last summer, many ordinary Lebanese started stashing cash at home, fearing a clampdown on bank withdrawals to keep foreign exchange from fleeing the country. That was months before protests erupted in October against the ruling elite that plunged Lebanon into its worst crisis in decades. In the capital, Beirut, staff at several jewellery stores said customers had come in recently looking to buy gold and diamonds, sometimes to sell them abroad, though most jewellers are now only accepting cash.

by AFP — BEIRUT: The Lebanese parliament approved the country’s 2020 budget on Monday, in an unprecedented session that revealed the true extent of the state of confusion in Beirut. The governments of former Prime Minister Saad Hariri, which drafted the budget, and current Prime Minister Hassan Diab, did not attend the budget debate, with Diab stating his government had “not yet won the confidence of Parliament, and has no right to retrieve the draft budget to study and modify it.” The session was attended by just 70 deputies out of its 128, and was boycotted by the deputies of the Lebanese Forces and the Phalange parties, and a number of independent members of Parliament (MPs).

Forty-nine MPs approved the budget, from the Hezbollah, Amal, and Free Patriotic Movement blocs and their allies. Thirteen MPs voted against it, including the Future Movement bloc, and eight abstained, including the Democratic Gathering bloc, which is loyal to Walid Jumblatt, leader of the Progressive Socialist Party. The budget did not include any economic vision, but was limited to numbers. The head of the Parliamentary Finance and Budget Committee, Ibrahim Kanaan, said that it included “an estimate of resources and allocations of funds.” The budget deficit reached $7.5 billion.

by the thehill.com — Hanin Ghaddar — Against the backdrop of three months of political and economic protests, Lebanese politicians appear to have reached a deal establishing a nominally technocratic government in Beirut. Still beholden to Hezbollah, the government has little Sunni or Druze support. Some protesters already call this a “Halloween government” since it gives thinly disguised cover to longtime establishment politicians. But the new government is unlikely to be able on its own to tackle the single biggest challenge it faces: the rampant corruption responsible for the country’s acute financial crisis. The formation of a new Lebanese government has been a central demand of the international community and a necessary precondition for any international aid. But that is not enough. The government must quickly take action to fight corruption and enhance transparency. For a country that has run on corruption and political patronage, this will be a very heavy lift.

Nearly all of Lebanon’s political establishment is entangled in Beirut’s deep-rooted corruption crisis, which cuts across the sectarian divide. Lebanon ranks 138th out of 180 nations in the Corruption Perceptions Index released by the anti-corruption watchdog Transparency International. Meeting in December, the International Support Group for Lebanon issued a final statement in Paris urging Lebanese authorities to “take decisive action” to tackle corruption and tax evasion while improving economic governance and the country’s business environment. At the time, U.S. Secretary of State Mike Pompeo said that while Lebanon must take these steps, the U.S. is ready to “do the things that the world can do to assist the Lebanese people getting their economy right and getting their government right.”

Today, the U.S. should take action that would force the new government’s hand and empower it to take on the corrupt political establishment — something no Lebanese government could otherwise do on its own: Washington should issue sanctions targeting some of the most egregious corrupt actors across the Lebanese political and sectarian spectrum under the Global Magnitsky Act. Corrupt leaders seek profit and the political power that comes with funding patronage projects. Global Magnitsky sanctions would not only name and shame Lebanon’s most corrupt actors, it would block all property and interests they hold in the United States, which are likely to be substantial. There are other tools available to designated political corruption — such as Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2020. The State Department employed this tool earlier this month targeting Moldovan corruption, but it includes only a ban on visa to enter the United States for the designee and their family members, and it lacks the authority to block funds held in the United States. Global Magnitsky would be a better fit in the case of Lebanon.