The Daily Star Lebanon Breaking News, Lebanon News, Middle East News & World News

BEIRUT: The European Union is ready to support the Lebanese government’s plan to rescue the debt-ridden country from its worst economic and financial crisis, the EU Ambassador to Lebanon Ralph Tarraf said Tuesday. Tarraf spoke to reporters after he and ambassadors of other EU countries in Lebanon met with Prime Minister Najib Mikati, who briefed them on the government’s financial …

BEIRUT: The Lebanese pound rose on the black market Friday, trading at LL16,850 to the dollar, ending a six-day losing streak. Exchange dealers said they were buying the greenback for LL16,800 and selling it for LL16,900, compared to LL17,400-LL17,500 Thursday. The pound’s respite came after Lebanon named members of its team to conduct negotiations with the International Monetary Fund, whose …

BEIRUT: Turkey’s Karpowership said it stopped supplying Lebanon with electricity from its two power ships Friday as its contract expired. “As of Oct. 1, our contract with EDL has come to an end and as such we will begin the process of shutting down the two powerships,” the company said in a statement. “We are acutely aware of the country’s …

BEIRUT: The United Nations held a news conference Friday at the ESCWA offices to outline their Emergency Response Plan for Lebanon, seeking to provide essential support to 1.1 million of Lebanon’s most vulnerable people. The UN estimates that almost 2 million people are affected by the ongoing crises Lebanon is facing, and intends to facilitate a yearlong series of humanitarian …

BEIRUT: Jordanian Prime Minister Bishr al-Khasawneh Thursday held talks with top Lebanese leaders focusing on supplying Lebanon with Jordanian electricity and transferring Egyptian gas to help the crises-hit country plagued by chronic power cuts for decades. Khasawneh arrived in Beirut Wednesday night on a visit aimed at showing solidarity with Lebanon, which is reeling from its worst economic and financial …

BEIRUT: Hezbollah said Thursday its fighters downed an Israeli drone flying over south Lebanon. The group said in a statement the drone, targeted with the “appropriate weapons”, crashed near the village of Yater at 1:55 pm local time. There was no immediate comment from Israel. Israeli drones and warplanes routinely breach Lebanese airspace in violation of UN Security Council resolutions. …

BEIRUT — Lebanon is facing a severe electricity crisis, with caretaker Energy Minister Raymond Ghajar warning that the country could plunge into “total darkness” by the end of the month. The state electricity company, Electricité du Liban, is running out of funds to purchase fuel necessary for power generation. Ghajar highlighted the dire consequences, including the disruption of essential services …

In 2020, Lebanon’s Central Bank (Banque du Liban, BDL) announced it would end its subsidies on basic commodities, triggering fears of a dramatic rise in prices. Economists and consumer protection groups warned that prices could soar by as much as 400% if alternative measures are not implemented. The subsidies, which had provided essential goods at lower prices by offering importers …