Pope seeks to beatify John Paul

Pope Benedict XVI has begun the process of beatifying his predecessor John Paul II, the first step to sainthood.

"The cause for the beatification of John Paul II is open," the new Roman Catholic leader told priests meeting at Rome's Basilica of St John in Lateran.

The Pope waived the usual rules which require a five-year wait before the Church begins to make someone a saint.

John Paul II died on 2 April, leading to widespread calls from Catholics worldwide for him to be made a saint.

Explosions rock Israeli position in Lebanon border area  

JERUSALEM (AFP) - A series of explosions were reported near an Israeli military base in the contested Shebaa Farms district on the border between Syria, Lebanon and Israel.

At least six blasts, probably caused by rocket fire from southern Lebanon, rocked the volatile area, an army spokeswoman said Friday.

Lebanese police said earlier that Israeli troops had opened fire with heavy machine guns on southern Lebanon amid fresh tension along the border.

The shooting hit the village of Kfarshouba near the Israeli-occupied Shebaa Farms district, damaging a house, police said.

Israel holds Lebanon responsible after border blasts

JERUSALEM (AFP) - Israel reiterated that Lebanon was responsible for maintaining peace along their common border following at least two explosions in 24 hours in the volative region.

"Israel holds Lebanon responsible for what happens on its border," Defence Minister Shaul Mofaz told public radio, adding that Israel had no interest in escalating tension along its northern border.

"We are following events in Lebanon closely. The Syrians continue to play a certain role despite announcing their troops have withdrawn," Mofaz added Friday.

Lebanese banks struggle with public debt

Banking official slams government for failure to take serious action

BEIRUT: Lebanese banks may not be able to finance the public debt this year at the same pace as before if customer deposits and capital inflow shrinks, the secretary general of the Association of Banks in Lebanon (ABL) warned Thursday. "Commercial banks have been financing the public debt for a long time. However, this trend may change if the banking sector does not achieve real growth in deposits and assets" said Makram Sader.

According to the Central Bank, the money supply in the first four months of 2005 fell by 3.2 percent compared to 3 percent growth in the same period of 2004.