by reuters — BEIRUT: At a street market in southern Beirut, Lebanese crowd around volunteers handing out free rations of bread and pasta, staples that have become a lifeline to families whose living standards have plunged during a financial crisis. “People can’t buy meat or fish anymore. Chicken is getting more expensive. They can only afford vegetables and bread,” said Salwa Hable, an organizer helping distribute the privately donated food. Lebanon’s economic crisis has brought mounting hardship for its roughly 6 million people. Prices have soared, the result of a dollar crunch that has sunk the local currency since October and eviscerated purchasing power. “It’s going to soon turn into hunger protests,” said Hable.

It was getting harder to solicit donations from better-off Lebanese, themselves feeling the pinch of the most destabilising crisis since the 1975-1990 civil war, she said. The worsening conditions have already threatened more serious unrest. Last month protesters defying a coronavirus curfew rioted, burning banks and leaving a demonstrator dead. Prime Minister Hassan Diab said last week the double-blow of the financial meltdown and coronavirus pandemic could tip Lebanon into a full-blown food crisis as basics like bread become unaffordable. People are eating less, with butchers complaining of shrinking sales, restaurants empty, and families making do with simple carbohydrates — even during the holy month of Ramadan, typically a time of nightly feasts. “We stopped buying fruits for ourselves. We get something small for my daughter, but that’s it,” said George Ortass, 46, a taxi driver.

BEIRUT (AP) — Lebanon’s prime minister visited United Nations peacekeepers in the country’s south near the border with Israel on Wednesday, describing the presence of the force in the volatile area as a necessity. The visit by Prime Minister Hassan Diab comes amid the backdrop of a war of words between Israeli and Lebanese officials, including the powerful Hezbollah group, over the mandate of the U.N. force, known as UNIFIL.

The force has been deployed in southern Lebanon since an Israeli invasion in 1978. Israel is calling for major changes in the way the mission in southern Lebanon operates on the ground, demanding that it have access to all sites and freedom of movement and that it report back to the Security Council if it is being blocked. The head of Lebanon’s Hezbollah group, Hassan Nasrallah, said late Tuesday that Lebanon will not accept a change of mandate for UNIFIL to allow it to raid and search areas, calling it a violation of the country’s sovereignty. Nasrallah said the U.S. is pressuring Lebanon to accept such a change. “They want to reduce UNIFIL numbers? Go ahead. Increase them? Go ahead,” Nasrallah said, adding if they also want to leave it will be no problem. “But we consider expanding its mandate an infringement on Lebanese sovereignty.” Diab said the presence of the troops was “necessary and urgent” in light of the ongoing “violations by Israel of Lebanon’s sovereignty by land, sea and air.”

by arabnews.com — NAJIA HOUSSARI — BEIRUT: Political forces in Lebanon have renewed pressure on the Iranian-backed Hezbollah to reform or face the US imposition of the Caesar Act, which could prove catastrophic for the country. Lebanese political circles are abuzz with debate over Hezbollah’s involvement in Syria and the likelihood of the imposition of the Caesar Act, which calls for biting sanctions on the Assad regime and its supporters. Mouaz Mustafa, who is a member of the Caesar Act team, recently said that prominent political figures in Lebanon were likely to be targeted alongside Hezbollah because the goal of the sanctions was to reach all people who had any kind of agreements with the Syrian regime. Lebanese politicians are not taking this matter lightly as is evident from their statements calling for an end to smuggling along the Syria-Lebanon border and for Hezbollah to be disarmed.

Gebran Bassil, leader of the Free Patriotic Movement (FPM), recently blamed “de facto forces” for the illegal smuggling along the borders in an apparent dig at the powerful military outfit. It is known that Hezbollah has long been involved in the war in Syria and maintains military bases and training centers inside Syrian territories near the border with Lebanon. Diesel and flour smuggling is carried out through illegal crossings from Lebanon to Syria. In a strongly worded message, FPM MP Ziad Aswad said: “We cannot go on holding weapons while our people are hungry.” Aswad warned Hezbollah that “the price of its weapons is paid by all Lebanese.” The most obvious position on American messages reaching Lebanese parties came through the admission of Aswad that “the Americans’ decision is necessary to disarm the (Hezbollah) party, or else manage yourself, Lebanese.”

by thenational.ae — Sunniva Rose — An employee at the Middle East’s leading music streaming service, whose tweet landed the company in the middle of a political dispute, denies she was spreading rumours of the Lebanese president’s ill-health. There were calls for a boycott of Anghami, the Middle East’s answer to Spotify with more than 55 million users, after its editorial lead Christine Habib tweeted in Arabic on Monday: “We will not pay you the last honours. You killed all of us before dying.” Ms Habib did not name Lebanese President Michel Aoun, 85, but sparked an angry response from his supporters on social media under the hashtag #boycottAnghami. As anger grew, a movement took to social media to express support for the company and Ms Habib. A former reporter with local television network Al Jadeed, Ms Habib told The National that she had not insulted Mr Aoun. “Maybe the timing was a bit wrong but the tweet could have been about any other leader or even the country,” she said. “I have previous tweets saying , ‘Rest in peace, Lebanon’.”

Ms Habib said her tweet was in reference to the country’s severe social and economic crisis caused by decades of mismanagement and corruption. Lebanon’s currency in is near-freefall, unemployment is rising rapidly and living standards are deteriorating. Mr Aoun’s office has denied claims in local media about the president’s ill health, writing on Twitter that “appropriate legal measures” would be taken against “those who promote malicious rumours”. “Today, because of a tweet that’s not endorsed by our company from a personal account, I read calls to fire an employee and boycott Anghami,” Mr Habib said. “In contrast, others warn of retaliation with counter boycotts if the employee is fired. That’s our sad Lebanon life.

“As a country, we’ve suffered through wars, revolutions, assassinations, economic downturns, famine, ongoing banking crisis, inflation, devaluation and distress. “Moreover, most of us believe that we’re heading to worse times. And all that we’ve learnt is that we should continue to attack each other. “What if instead of attacking each other we can make a chain to lift each other? We’re all drowning together. “Wake up, everyone. Lebanon needs all of us.” Anghami is widely regarded as one of Lebanon’s most successful start-ups and while the company says it is registered in the Cayman Islands, it is headquarters are in Beirut and offices in Dubai, Cairo and Riyadh. Bloomberg reported in January that it was considering a sale that could value it at $400 million (Dh1.46 billion).

by middleeasteye.net — By Paul Cochrane — When Saudi Arabia’s Public Investment Fund was brought under the direct control of Crown Prince Mohammed bin Salman in 2015, and the fund’s programme was announced in 2017, it was under a mandate to invest at home and abroad to be a financial enabler of the kingdom’s economic diversification efforts. One of its earliest and biggest splashes was in Tokyo-based SoftBank’s $100bn Vision Fund, which invested in high-profile technology companies and, in keeping with its name, aimed to bankroll futuristic developments in artificial intelligence, robotics and gene-sequencing. Saudi Arabia, along with Abu Dhabi’s sovereign wealth fund, Mubadala, contributed almost two-thirds of the fund’s capital, with PIF investing some $35bn.

The investment with the Japanese conglomerate seemed a perfect match for the kingdom’s Vision 2030, outlined in 2016, with SoftBank making a commitment to enable diversification efforts through involvement in technology, renewable energy and in MBS’s $500bn Neom mega-city project on the Red Sea coast. SoftBank’s links to Saudi and MBS, by then the kingdom’s crown prince, came under scrutiny in October 2018 following the murder of journalist Jamal Khashoggi, but it largely managed to ride out the negative publicity. Just a year ago, the media gushed about SoftBank being a major disruptor on the start-up and venture capital tech scene, while a second Vision Fund was announced. Riyadh was initially keen on getting involved but backed away last year as problems emerged with the first fund, according to Rory Fyfe, managing director of Mena Advisors, a regional research and consultancy company in London.

London (CNN Business)The coronavirus pandemic may be forcing Renault and Nissan to rethink their strained relationship. Already under huge pressure from slumping sales and profits in 2019, the collapse in global car demand this year could push the French and Japanese companies much closer together to cut costs and share the burden of building a new generation of electric vehicles. The carmakers have been partners since 1999, cooperating on strategy and product development while never taking the plunge and completing a full merger. Together with junior partner Mitsubishi Motors, the unique industry alliance employs roughly 450,000 people and in 2018 it sold roughly one in every nine cars around the world. Yet the partnership began its third decade in turmoil. The 2018 arrest of former alliance boss Carlos Ghosn, a turnaround expert credited with keeping Renault and Nissan in business, sparked a series of leadership changes at both carmakers, confusion over their strategy and questions over whether the sputtering relationship had outlived its usefulness.

Renault participated in merger talks with a European rival, and there were major questions over how the alliance would revive its fortunes in North America, where Nissan is a significant player but its French counterpart is not. Analysts also raised questions about cultural differences at the companies. The companies have so far largely maintained separate manufacturing facilities. Sharing production at the plant in Sunderland could be a sign that the carmakers have set aside their differences and are responding to the crisis by helping each other to cut costs. Ghosn, who was arrested on charges of understating his income, has always denied charges of financial impropriety. He had hoped to bring the companies much closer together, and he has blamed his arrest on a Nissan conspiracy aimed at preventing further integration with Renault. Nissan disputes this narrative.

by blocksats.com — According to a poll widely published on Twitter, more than half of the 6,661 voters would choose to receive their salary in Bitcoin. Although they prefer to receive dollar bills, they are not interested in receiving the money in their own fiat currency, which has collapsed against the US currency. In 2020, economic turmoil and distrust in banks that increased during the coronavirus caused people to adopt the world’s main digital asset.

Unprecedented economic collapse The result makes sense, given that Lebanon is facing an unprecedented economic collapse, where prices for basic goods have doubled in at least the past two months, leaving them out of reach of half the population. Prime Minister Hassan Diab also acknowledged that Lebanon is on the verge of an “unimaginable food crisis”. Its long-standing currency continues to fall and is still being used to pay for imports. The crisis is likely to hit the impoverished communities more strongly and put more pressure on the middle class, widening the gap between the elite and the rest. The banking system in the country is also destabilized, with protests over central banks and bank branches increasing.

By Osama Habib, The Daily Star Beirut – The real estate giant Solidere made a comeback to profitability after selling close to $500 million in properties over the past two years, allowing it to settle all its debts, the company’s vice president Ghazi Youssef said Friday. “We did relatively well despite the crisis that engulfed Lebanon. We sold around $450 million to $500 million worth of land in the Downtown district in the past two years. We had debts of around $600 million in the past and now I can say we are no longer in the red,” Youssef told The Daily Star over the telephone. Youssef expressed his belief that many Lebanese have chosen to invest their money in real estate. “There is around $5 billion in cash in the market and it seems some [people] have preferred to buy land in Solidere because they think it’s a sound investment,” he added.

Solidere has been struggling with the acute political and financial crisis that struck Lebanon in recent years. The company implemented a restructuring plan to cut costs last year. However, rigid capitals control imposed by the banks since late last year, coupled with the sharp devaluation of the Lebanese pound, drove many investors and bank customers to search for a safer investment, especially since most of them could not transfer money abroad or carry out financial transactions with other countries.

by middleeasteye.net — Christopher Phillips — The political futures of both Syrian President Bashar al-Assad and Turkish President Recep Tayyip Erdogan have recently been the subject of speculation. For Assad, a dispute with his wealthy cousin amid grumblings from his ally, Russia, has prompted some to wonder whether his bloody reign may soon end. For Erdogan, the fallout from the Covid-19 crisis and associated economic uncertainty has led to murmurs about his potential departure. Yet, such speculation rarely outlines how these neighbouring strongmen would actually be toppled. Both rule over regimes, whether inherited (in Assad’s case) or created (in Erdogan’s), that make it difficult for rivals – from either within the ruling establishment or without – to overthrow them.

‘Coup-proofing’ the state: As is the case in many autocratic states, Assad and Erdogan have tried to “coup-proof” their regimes to ensure they can withstand far more dramatic setbacks than either currently faces. Coup-proofing is, according to author James Quinlivan, “the set of actions a regime takes to prevent a military coup”. This is more common in states such as Turkey and Syria, where there is a history of military intervention in politics. The methods vary from state to state, but Quinlivan notes similarities in the coup-proofing of Saudi Arabia, Syria and Saddam Hussein’s Iraq. Standout methods include packing key security positions with those tied to the ruler by family, ethnicity or religion; building up armed forces parallel to the regular military; and developing multiple overlapping internal security agencies monitoring the military and one another to prevent coups.

Assad inherited a regime that his father had coup-proofed par excellence. The extent of successful coup-proofing was seen when he avoided any serious attempt by establishment insiders to topple him, despite losing more than half of the country at one point during the recent civil war. Though thousands of soldiers defected and joined the opposition, those in key security positions, mostly from his own Alawi sect and family, stayed loyal. Similarly, the key security divisions fighting rebels in the early stages of the conflict were the “parallel structures”: the Republican Guard and the 4th Armoured Division, armed with the best equipment to defend the regime. Though it is unknown whether there were attempts at coups – there were several rumours – their absence suggests the myriad security agencies Syria had on the eve of the war proved effective.

By Matt Hadro (CNA).- President Donald Trump on Friday called on state governors to reopen churches “right now.” At a Friday press briefing, Trump said that the U.S. Centers for Disease Control (CDC) would “at my direction” be issuing new guidance for churches to reopen. He said he was identifying houses of worship as “essential places that provide essential services,” noting that state governors had classified such establishments as liquor stores and abortion clinics as providing essential services, but not churches. The White House and the CDC have for weeks reportedly been in the process of drafting and publishing new guidelines for churches to reopen. On Friday, CNA learned that, according to someone familiar with the deliberations, the new CDC guidance is expected on Friday afternoon and will differ from its previous interim guidance for faith communities that was issued in March, at the outset of the U.S. pandemic. That guidance was reportedly not cleared by the White House before publishing. That guidance was reportedly met with concern by many in the faith community for certain provisions that seemed to intrude on the autonomy of religious groups, such as one recommendation that Jews should be allowed to use electronic devices on the Sabbath to stream services online.

The new guidance, CNA was told, would be more sensitive to the autonomy of churches and religions and will apply a “lighter touch” to them, functioning as a set of recommendations rather than instructions, and implying that actions taken by state and local governments that go beyond the federal recommendations are inappropriate. It has the input of lawyers with experience in religious freedom cases. The guidance will include a section for state and local leaders, saying they should recognize religious gatherings as something unique and different from other gatherings and protected by the First Amendment; it will imply that states should not be treating churches more strictly than they are treating other public gatherings or businesses reopening. Churches, however, will not be officially classified as “essential” establishments, CNA was told, as that classification can vary state-by-state in its implications for religious groups. However, calling churches “essential” in the administration’s “messaging” on the guidance was reportedly discussed.