Banks behaving badly: Lebanon’s financial sector goes rogue

The IMF says some Lebanese banks are liquid enough to pay 100 percent of the value of deposits up to $200,000. But no government body will force banks to pay depositors or restructure this collapsed sector.

Qatar enters Iraq’s energy sector, but risks abound

Qatar's investment in Iraq's energy sector has the potential to transform Persian Gulf geo-economic dynamics, but Iraq's political instability continues to pose major risks for large investors across the board.

Algeria offers to help Cuba repair besieged energy sector during Diaz Canel visit

Algiers will also cancel all outstanding interest on Cuba's debt and postpone its repayment

Lebanese army receives first financial aid package from Qatar

Qatar delivered the first batch of $60 million pledged in monetary assistance to the LAF, intended to be paid as bonuses regardless of rank

Lebanese banking association opposes financial recovery plan

The announcement comes on the same day that the Lebanese currency hit a record high of 33,500 liras per one US dollar

Global financial crimes watchdog adds UAE to list of money laundering hot spots

The financial watchdog has accused Emirati authorities of not doing enough to combat widespread money laundering activities

For crisis-hit Lebanon, it’s IMF or bust: Washington

Despite claims of wanting to help Lebanon, the US continues to block the implementation of a vital energy-sharing plan with Jordan and Egypt

US-Saudi differences push Lebanon to the brink

Uncertainty is growing in Lebanon as the US reportedly issued a warning to its local allies about siding with Saudi Arabia behind Washington's back

Lebanon’s caretaker PM steps in to protect banks charged with money laundering

The Association of Banks in Lebanon announced that, thanks to Mikati's overstepping of his authority, they would 'temporarily suspend' a strike that has helped decimate the value of the lira

Washington’s Dollar-and-Stick ploy with Iraq

Iraqi officials are in Washington to discuss “economic reforms” but are in fact being pressured to shun Iranian energy imports in the hope of having US sanctions and dollar rations lifted.

Washington bankrolls temporary salary increase for Lebanese security forces

The US, Qatar, and the EU have proven instrumental in providing funds for the Lebanese army since the start of the economic crisis

US court ruling opens door for Lebanese banks to be prosecuted on foreign soil

Lebanon's financial institutions have evaded any responsibility for their role in the crisis gripping the nation, and have instead placed the burden on regular citizens

Qatar dangles aid in front of Lebanon in exchange for naming army chief as president: Report

Doha has joined Saudi Arabia, France, and the US in supporting General Joseph Aoun for president of the cash-strapped nation

Lebanese parliament again fails to elect president, pushing nation deeper into crisis

As Lebanon sinks deeper into crisis, US officials have said that once the 'complete disintegration of the state' happens, Lebanon can be 'rebuilt from the ashes, freed from the curse of Hezbollah'

Lebanon in dire need of ‘equitable’ banking reform, losses exceed $70bn: World Bank

According to the World Bank, Lebanon's inflation rate is expected to average at 186 percent this year

US and Mikati ‘fooled’ Lebanon into thinking Iranian fuel deliveries would be permitted: Report

US officials recently said the only way to 'rid Lebanon of Hezbollah' is for the country to fall into complete collapse in order to be 'rebuilt from the ashes'

Switzerland finds no reason to label Hezbollah a terrorist organization

Switzerland's investigation into Hezbollah was a result of Germany banning the organization and labelling it a terrorist group under Israeli pressure

Global finance vs global energy: who will come out on top?

There is more to the current struggle between the oil-consuming west and the oil-producing nations than meets the eye and it runs far deeper than the war in Ukraine

Lebanese banks close ‘indefinitely’ for second time in a month

Depositors have staged over a dozen bank heists in the past several weeks after being locked out of their life savings for the past three years

Two Turkish banks drop Russia’s Mir payment system following new US sanctions

US and EU officials have been pushing to sanction Turkey for its continued economic cooperation with Russia

US, EU increase pressure on Turkey over Russia sanctions

The increase in pressure comes amid a boost in economic and energy cooperation between Moscow and Ankara

Iran Central Bank and Tehran Stock Exchange launch trade in Russian rubles

Earlier this week, Moscow expressed interest in dropping the US dollar for their bilateral trade with Iran

Iran and Russia ready to drop US dollar in bilateral trade: Kremlin

President Ebrahim Raisi and Vladimir Putin have moved to increase cooperation in order to overcome unilateral US sanctions

Lebanon CB chief carried out ‘self-audit’ to clear himself of corruption: Report

Salameh’s lawyer has maintained that the financial review constitutes an audit under international standards

Billionaire Najib Mikati named Lebanese PM for the fourth time

Mikati will now be tasked with forming a new government, a process experts believe will take weeks, if not months

Lebanese PM threatens to expel over one million Syrian refugees

Mikati's warning comes amid reports that his caretaker government may give up the right to a gas field within Lebanon's maritime border to Israel

St. Petersburg sets the stage for the War of Economic Corridors

In St. Petersburg, the world's new powers gather to upend the US-concocted “rules-based order” and reconnect the globe their way

Russia, Iran discuss linking card payment systems to overcome US sanctions

Russia is in talks with China and Iran on linking the Russian Mir card payment system with other domestic payment systems

US sanctions on Iran are illegal under international law: UN special rapporteur

The UN official noted that decades of sanctions have mainly affected the low-income section of Iranian society

Lebanon unemployment rate triples: Survey

A UN agency said the informal economy accounted for around 30 percent of employment