Lebanese lira plunges to new low after lift of fuel subsidies

Lebanon's economic meltdown, caused by rampant corruption of the financial elites, have razed salaries and created a severe migrant crisis

Turkish lira continues to tank, reaching all-time low since December 2021

The annual inflation of the Turkish lira rose to nearly 80 percent, according to official data released on 4 July

Turkey’s state banks urging depositors to convert foreign currency to lira: Report

Despite the government's push to halt the dollarization of Turkey's economy, financial institutions warn that the currency could end year's trading at more than 20 US dollars per lira

Lebanese people take to the streets in protest after lira hits new low

The World Bank has called Lebanon's economic crisis the worst since 1850

Turkish lira bounces back after government pledges to protect local currency deposits

The lira rose to trade at 11 per US dollar after dropping to historic lows last week

Turkey’s stock market halts trading as lira hits new low

Economists believe that inflation will surpass 30 percent next year if Turkish President Recep Tayyip Erdogan continues to slash interest rates

US sanctions individuals in Lebanon for alleged Hezbollah connections

Lebanese money exchanger Hassan Moukalled is at the center of the sanctions

Hezbollah supports president who does not shy away from US threats: Nasrallah

The Hezbollah leader claimed Lebanon is being prevented from exploiting 'huge wealth' in its territorial waters and said the US is still pursuing proxy wars to control West Asia

Lebanese migrants responsible for over half of Lebanon’s GDP

Lebanon has become the most remittance-dependent country in the world thanks to decades of systemic corruption and mismanagement in the financial sector

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

Turkiye seeks gas discount with Russia

Turkiye has increased its Russian oil imports to over 200,000 barrels per day (bpd) this year, compared to last year's mere 98,000 bpd

France investigates paramour of Lebanon’s central bank chief for money laundering

Riad Salameh has avoided detention throughout the past year thanks to the protection afforded to him by high officials and by the US ambassador to Lebanon

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

Lebanese president boycotts budget and delays new exchange rate

A dollar currently fetches around 38,000 Lira on the black market

Runaway inflation soars to new highs in Turkey

As the Turkish economy continues to spiral, President Erdogan has pushed to bolster ties with all possible allies

Germany, France ask to bypass Lebanese judges ‘impeding’ corruption probe into central bank chief

Riad Salameh faces money laundering and embezzlement charges in France, Germany, Luxembourg, Lichtenstein, Switzerland, and Lebanon

Everybody wants to hop on the BRICS Express

Eurasia is about to get a whole lot larger as countries line up to join the Chinese and Russian-led BRICS and SCO, to the detriment of the west

Lebanese banks seek dialogue with depositors to stop heists

Lebanese banks allege they are 'victims' of the manufactured crisis that saw the lira lose over 90 percent of its value as a result of rampant corruption and mismanagement in the financial sector

Inflation shoots up to 24-year high in Turkey

The inflation of the Turkish lira accelerated for 16 consecutive months, increasing 3.25 percent between August and September this year

‘It won’t happen overnight’: Lebanese PM on new official exchange rate

Lebanese authorities are looking to close the gap between the 'official' exchange rate and the widely used black market rate in order to receive an IMF loan

Lebanon to slash official exchange rate

In addition to official and parallel market exchange rates, people have struggled with unfavorable rates for the withdrawal of Lebanese pounds

Lebanese banks begin partial reopening following heist spree

A number of banks have remained shut, while those that reopened have significantly increased their security

Turkey delivers 20 armed drones to UAE

International demand for Baykar's manufactured drones soared after their success in Ukraine, Syria and Libya

UN to finalize plans for US-funded salary support for Lebanese army

The United States is the largest aid donor to Lebanon, having provided $125 million in the fiscal year 2022 to the WFP and NGOs

New depositor holds up Lebanese bank as activists warn of ‘daily raids’

Desperate Lebanese citizens have been holding up banks in a last-ditch attempt to retrieve their savings, after getting locked out from their money for the last three years

Lebanese depositor holds up bank to access savings for second time in weeks

A woman armed with a toy gun was able to receive just over half of her own savings after spending weeks pleading with officials for help in paying for her sister's cancer treatment

Saad Hariri and the collapse of Lebanon

The Syrian regime-change war and Lebanon's economic collapse happened under Saad Hariri's watch, but the Future Movement leader is seldom mentioned for the pivotal role he played in Lebanon's unravelling

Pump prices shoot up in Lebanon as central bank lifts subsidies for fuel imports

Iranian officials recently reiterated an offer to provide Lebanon with 'free fuel, construct new power stations, and rehabilitate existing power networks'

Lebanon faces threat of complete internet outage

The US government refused sanction-waivers for Egypt and Jordan to provide Lebanon with electricity to power its industries and services

Turkey hikes energy costs as inflation soars

The Turkish president’s controversial economic policies have contributed the country’s deteriorating economy