Nadine Awadalla, Eric Knecht — BEIRUT (Reuters) – Protesters prevented Lebanon’s parliament from holding its first session in two months on Tuesday, escalating a wave of demonstrations against rulers blamed for steering the country towards economic collapse. Banks reopened after a one-week closure, with police stationed at branches and banks applying restrictions on hard currency withdrawals and transfers abroad. The protests erupted last month, fuelled by corruption among the sectarian politicians who have governed Lebanon for decades. Protesters want to see the entire ruling class gone from power.

Lebanon’s economic troubles have increased since then. Despite the depth of the economic crisis, the worst since the 1975-90 civil war, politicians have been unable to form a new government since Prime Minister Saad al-Hariri quit on Oct. 29. Near parliament on Tuesday, gunfire was heard as several dozen protesters forced two SUVs with official plates and tinted windows to turn back as they approached the building, Lebanese television showed. The vehicles sped away after they were struck by demonstrators chanting “Out, out, out!”

Parliament postponed the session indefinitely. “This is a new victory for the revolution and we are continuing until we achieve our goals,” said protester Abdelrazek Hamoud. The session’s agenda had included reelecting members of parliamentary committees and discussion of an amnesty law that would lead to the release of hundreds of prisoners. Protesters were angry the MPs were not tackling their demands for reform. Security forces had fanned out before dawn, shutting down roads around parliament with barbed wire. Police scuffled with protesters who tried to remove a barbed wire barricade. A protester waves a Lebanese flag next to a bonfire during ongoing anti-government protests in Beirut, Lebanon November 19, 2019. REUTERS/Andres Martinez Casares Ahmad Mekdash, a civil engineer, said: “They should be meeting right now to form a new cabinet and not to pass laws, especially laws that aren’t urgent.”

By BASSEM MROUE and MARIAM FAM — BEIRUT (AP) — Young men chanting the “people want to bring down the regime” gathered outside the office of Lebanese legislator Mohammed Raad, the powerful head of Hezbollah’s parliamentary bloc. One shirtless man grabbed a metal rod and swung it at the sign bearing Raad’s name, knocking it out of place as others cheered. It was a rare scene in the southern market town of Nabatiyeh, a Hezbollah stronghold. The protests engulfing Lebanon have united many across sectarian lines and shattered taboos, with some taking aim at leaders from their own sects, illustrating a new, unfamiliar challenge posed to the militant group.

Iranian-backed Hezbollah built a reputation among supporters as a champion of the poor and a defender of Lebanon against Israel’s much more powerful military. It and its Shiite ally, the Amal party, have enjoyed overwhelming backing among the Shiite community since the end of the 1975-1990 civil war, making them a political powerhouse that, along with allies, has dominated recent governments. But now many protesters group Hezbollah into the ruling class they are revolting against, blaming it for wrecking the economy with years of corruption and mismanagement. Protesters want that entire political elite out. Hezbollah’s leader, Hassan Nasrallah, and Amal’s chief, Parliament Speaker Nabih Berri, have not been spared. “All of them means all of them, and Nasrallah is one of them,” protesters have chanted at some Beirut rallies. The demonstrations that erupted Oct. 17 spread throughout the country, including predominantly Shiite areas in the south and the eastern Bekaa Valley. “The heavy participation of the Shiites … posed a main challenge: that there’s a large number from the sect that doesn’t accept the current situation,” said Hilal Khashan, professor of political science at the American University of Beirut. “That’s why there was a swift and decisive decision to nip this in the bud.” In several instances, men suspected of being Hezbollah and Amal supporters beat up protesters and destroyed their tents. Some of those who had criticized Nasrallah and Berri on social media appeared in videos, after apparently being beaten, to apologize for what they did. Amal denied any link to those behind the beatings, saying in a statement that they should be arrested and that they violated the movement’s belief in freedom of opinion. Hezbollah has survived many threats over the past years, including charges by a U.N.-backed tribunal for the killing of former Prime Minister Rafik Hariri in February 2005 — an accusation Hezbollah strongly denies — a ruinous war with Israel in 2006 and the war in neighboring Syria, where Hezbollah has sent thousands of fighters to back President Bashar Assad, losing an estimated 2,000 men.

by thenational.ae — Sunniva Rose — As Lebanese politicians seemed to be caught in a disastrous deadlock on Sunday, the anti-establishment protest movement scored its first electoral win, voting in an independent to lead the Beirut Bar Association. Melhem Khalaf won by a comfortable margin against Nader Gaspard, a candidate backed by the Free Patriotic Movement, Lebanese Forces, Progressive Socialist Party and the Future Movement. Pierre Hanna, previously backed by the LF, PSP and Future Movement, withdrew his candidacy in favour of Mr Gaspard to try to secure his win. “We hope this day will renew democracy within Lebanon’s institutions,” Mr Khalaf said in his victory speech. Until now, the Beirut Bar Association had not taken a formal stance on the month of mass protests against corruption, poor governance and a crumbling economy.

But as Mr Khalaf’s name was announced, many in the crowd of lawyers at the tally cheered and broke into chants of “thowra”, or revolution. Meanwhile, a plan by parties to form a new government to tackle the dire economic situation and address the demands of protesters appeared to fall apart. Two days after he was chosen by Lebanon’s most powerful political parties to be the country’s next prime minister, veteran politician Mohammad Safadi withdrew his candidacy on Saturday evening. As the country faces a possible “total economic meltdown with potential violence”, its political system is “completely paralysed” by the mass protests that started on October 17, analyst Imad Salamey said. After resigning on October 29, caretaker Prime Minister Saad Hariri had reportedly agreed to meet protesters half-way by forming a small government of technocrats. An apolitical government is one of the key demands of protesters. Triggered by a suggested tax on WhatsApp calls, the protest movement quickly became a rejection of the entire Lebanese political system, based on sectarianism. But Mr Hariri’s proposal was reportedly dismissed by President Michel Aoun, who wants politicians to be part of the new government.

by AFP — BEIRUT: The US embassy in Lebanon said on Saturday it supported the one-month-old anti-government protest movement in Lebanon. “We support the Lebanese people in their peaceful demonstrations and expressions of national unity,” the embassy said on Twitter. Lebanon has since Oct 17 been swept by an unprecedented cross-sectarian protest movement against the entire political establishment, which is widely seen as irretrievably corrupt and unable to deal with a deepening economic crisis. The government stepped down on Oct 29 but stayed on in a caretaker capacity, and an economic crisis has also battered the country.

Some local players, notably the powerful pro-Iranian Shiite movement Hezbollah, have accused “external parties” and Western embassies of supporting the popular uprising, including through financial backing. Several mass rallies are planned for Sunday in cities across Lebanon to keep up the pressure on the country’s ruling class. On Saturday, an initiative dubbed the “revolution bus” traversed the country. Leaving Akkar region in the north in the morning, the bus – decorated with the names of protest hotbeds in the multi-confessional country – arrived early in the evening in the southern city of Sidon. According to protesters, the initiative sought to break down geographical and sectarian barriers and overcome the collective trauma of the 1975-1990 civil war. In an incident that became emblematic of inter-sectarian schisms during that deadly conflict, a bus was strafed by gunfire.

by Nicky Harley — thenational.ae — Former finance minister Mohammad Safadi has withdrawn his candidacy to be prime minister of the next Lebanese government. In a statement, Mr Safadi said it would have been difficult to form a “harmonious” cabinet supported by all parties. He said he hoped outgoing prime minister Saad Hariri would be designated again for the post. On Thursday, three of Lebanon’s main political parties agreed on the 75-year-old billionaire businessman as their choice to become Lebanon’s new prime minister. Caretaker Foreign Minister Gebran Bassil, head of the Free Patriotic Movement (FPM), had confirmed on Friday that Mr Safadi would be nominated for the post when formal deliberations on forming the next government begin in parliament on Monday. But on Saturday evening Mr Safadi said in a statement that he had decided to withdraw following consultations with political parties and a meeting on Saturday with Mr Hariri. “It is difficult to form a harmonious government supported by all political sides that could take the immediate salvation steps needed to halt the country’s economic and financial deterioration and respond to the aspirations of people in the street,” the statement said.

By Ahiza Garcia, CNN Business – San Francisco (CNN Business)Bill Gates is back on top. On Friday, Gates surpassed Amazon (AMZN) CEO Jeff Bezos to reclaim the distinction of richest person in the world, with a net worth of $110 billion, according to the Bloomberg Billionaires Index. It’s the first time the co-founder of Microsoft […]

by reuters.com — – It was 2008 and unlike many countries, Lebanon was sailing through the worst global downturn in 80 years largely unscathed. With a booming economy and resilient banks, central bank governor Riad Salameh confidently talked up Lebanon’s success. “I saw the crisis coming and I told the commercial banks in 2007 to get out of all international investments related to the international markets,” Salameh, now one of the world’s longest-serving governors at 26 years, told the BBC at the time. Those efforts were lauded by the IMF and accolades followed. More than a decade later, however, his record is under attack. Detractors partly blame Salameh’s policies for Lebanon’s worst economic crisis in 30 years, including strains in the financial and banking system not seen even during the 1975-90 civil war. Defenders view the central bank as the linchpin of stability and one of few institutions that has operated effectively through years of bad government by politicians whose corruption is the underlying cause of the crisis.

Protesters on the streets, who once revered Salameh’s ability to steer the financial system through bouts of unrest, now daub graffiti on the walls of the central bank. “People used to think the governor was a god but now they know what is happening,” said Leila, a 30-year-old entrepreneur. The policies that largely defined his tenure include the Lebanese pound’s peg to the dollar and, in recent years, so-called “financial engineering”, involving siphoning dollars from local banks at high interest rates to keep the government’s finances afloat. His approach has drawn increasing criticism in the wake of anti-government demonstrations that erupted on Oct. 17 and led Saad al-Hariri to step down as prime minister, panicking depositors to pull billions of dollars from banks. This week banks shut again, after being closed for much of October, and have restricted transfers abroad and curbed U.S. dollar withdrawals.

DWINDLING INFLOWS

By AFP — BEIRUT: Lebanese protesters who have been demanding radical reform reacted with anger Friday to the reported designation of a new prime minister they regard as emblematic of a failed political system. According to senior officials speaking on condition of anonymity and Lebanese press reports, key political players agreed that Mohammed Safadi should […]

BEIRUT (Reuters) By Tom Perry and Laila Bassam– Three major Lebanese parties have agreed on nominating Mohammad Safadi, a former finance minister, to become prime minister of a new government, the Lebanese broadcasters LBCI and MTV reported on Thursday. The agreement was reached in a meeting on Thursday between outgoing Prime Minister Saad al-Hariri, Lebanon’s leading […]

by thenational.ae — Sunniva Rose and James Haines-Young  — Protesters closed the highway from the Lebanese capital to Baabda Palace on Wednesday and refused an invitation to meet President Michel Aoun. The demonstration outside the presidential palace came on the 28th day of the mass uprising against the government and decades of corruption. On Wednesday evening, men with guns and knives arrived at a protest in Jal El Dib, north of Beirut, leading to fights with protesters. At least one man fired into the air before being disarmed. Earlier in the day, Mr Aoun conveyed a message through the presidential guard for the protesters outside the palace to send in a delegation to discuss their demands. But the demonstrators refused to send a small number of people, insisting that if the president wanted to hear their complaints he would have to speak to all those gathered.

Protesters expressed anger at an interview Mr Aoun gave on Wednesday evening, in which he said: “If they do not like any person in authority, let them emigrate.” “He told us, ‘If you don’t like what is happening, just leave’,” said Guy Younes, 29, a civil engineer. “How is that possible in any country in the world? This is so stupid. He wants us to leave, 250,000 people to leave. Architecture student Nicholas Habib, 25, said: “We have a lot of requests. The first is the resignation of Michel Aoun and then we have to make selections and a technocratic Cabinet. “We want technocrats, we do not want politicians. It is engineers who are going to be judges and in the ministries, people who have nothing to do with politics.”

Mr Habib said Mr Aoun’s speech on Wednesday night angered him. “How can a president of a republic say that to his people?” he asked. But Mr Habib said he was optimistic that the president would eventually be forced to resign. People chanted, “We won’t go until the ‘father of all’ leaves,” using Mr Aoun’s self-given title. “Leave, leave, leave, your presidency is starving people.”

Marie-Therese Tabet, 65, who lives in Beirut, called for a new government that could stop the brain drain. “Our children, who are supposed to work, are highly educated people, hyper-responsible, but can’t find a way out so they go abroad where they succeed,” Ms Tabet said. “Why not take advantage of these brains to maintain this country?” Two women standing on the motorway to Baabda said the president’s message had been provocative and spurred people to hit the streets on Wednesday. “Instead of calming things down, people got very angry and it’ll probably push the level of anger and tension even higher,” one of the women said. “Of course we don’t trust him. Why would the people trust a government that failed them for years and years? “He was just not listening to what people were saying, and it ended up with a terrible outcome last night.”

middle-east-online.com — BEIRUT – Lebanese student Fatima Jaber’s family is struggling to pay off multiple loans with double-digit interest rates. Even before the start of protests that have forced out Lebanon’s prime minister, her confidence was fading in a financial system long regarded as a pillar of stability. But now, like many Lebanese, she thinks the system is broken.

The loss of trust is eroding liquidity in the banking sector, increasing concerns that banks may not be able to help the government fund high budget and current account deficits. One of the world’s most indebted countries, Lebanon has a public debt equal to about 150% of its gross domestic product. “We need a change to the system because everyone has at least one loan from the bank and the rates are very high and we can’t pay them,” said Jaber, 22, as she and a small crowd protested outside the central bank in the capital, Beirut. Dollar loans have to be repaid in the same currency, which is especially difficult because there is a hard currency squeeze in Lebanon. With big banks’ websites showing the annual interest on some loans is about 27%, any people are in dire straits.

Central bank governor Riad Salameh sought to ease concerns on Monday, saying the bank had a usable foreign cash reserve of $30 billion and total assets of $38 billion. The central bank has taken steps to protest depositors by ensuring no bank would fail and will seek to lower interest rates through liquidity management, he said. But the imposition by banks of controls on dollar withdrawals and transfers overseas has failed to rebuild confidence.