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Lebanon

Vero Video length: 04:08

Vero Labs taps into the fan-based asset economy

Vero Labs, the social networking company owned by the Lebanese billionaire Ayman Hariri, has partnered with the blockchain platform Avalanche to tap into the multi-trillion-dollar fan-based asset economy sector of the sports and entertainment industry.  Last year Vero Labs acquired Tokenise Stock Exchange, a regulated global marketplace where users can buy, sell and trade fan-based […]

Celebrations in Syria for the downfall of Assad, which Standard Chartered's Eric Robertsen says could have a positive effect on the region

Syria upheaval could be a sign of progress for the region

The removal of the Assad regime in Syria is a “step in the right direction for the region”, according to a leading economist from Standard Chartered. Eric Robertsen, managing director of global head of research and chief strategist at Standard Chartered, was discussing the fallout of a series of geopolitical crises during a media round […]

Massad Boulos seen with Donald Trump during an election campaign visit to Dearborn, Michigan. Boulos is father-in-law to Trump's daughter Tiffany

What Massad Boulos can do for US-Middle East trade

The rise of a Lebanese tycoon and Trump in-law to the White House suggests business links and personal ties between the US and the Middle East will be front and centre for the new administration. Incoming US President Donald Trump announced on social media on Sunday that Massad Boulos, the father-in-law of his daughter Tiffany, […]

An excavator operates in Sidon, Lebanon. Local observers believe the Middle East should take the lead in rebuilding

Middle East, not the West, should lead rebuilding, say experts

Rebuilding Palestine and Lebanon will take upwards of a decade once the conflict between Israel and Hamas and Iran-backed Hezbollah ends, according to the International Monetary Fund. But the two countries should be assisted by Middle East neighbours and not left in the hands of Western superpowers, say experts. The United Nations Development Programme’s initial […]

Adult, Male, Man

Lebanon placed on financial task force ‘grey list’

Lebanon has been added to the Financial Action Task Force’s (FATF) “grey list” of countries under increased scrutiny, the global financial crime watchdog announced on Friday.  Algeria, Angola and Côte D’Ivoire join Lebanon as the latest jurisdictions subject to heightened monitoring. The FATF places countries on this list when they exhibit serious deficiencies in addressing […]

A busy Beirut airport in August this year; the airport is currently open but flights are limited

Private jets and yachts take passengers fleeing Lebanon

People trying to flee the escalating conflict in Lebanon are turning to expensive private bus, yacht and jet operators as an increased number of airlines cancel flights. “If Beirut’s airport is closed due to the ongoing conflict, don’t worry,” reads one of the many such adverts that have inundated Lebanese social media. “Our luxury yachts […]

construction over-runs delays Asian construction workers working on a building, Kingdom of Bahrain

Middle East crisis further hinders late project delivery

The escalating Middle East conflict involving Israel, Lebanon and Iran is further hindering already stretched construction timelines in the Gulf. Safe passage through the Strait of Hormuz is threatened, with concerns that Iran will close the waterway. This route is critical to GCC oil and gas exports. Building projects in the Middle East suffered some […]

Speaking at the Future Hospitality Summit, Accor's CEO Sébastien Bazin said safety of the company's teams is a priority regional tensions

Gulf hospitality industry shrugs off war concerns

Middle East hospitality veterans downplayed concerns over wider regional tensions this week, saying the industry has survived crises before and is poised to do so again. Government officials and corporate executives spoke during the Future Hospitality Summit, which is taking place in Dubai this week, just as military action intensified in Israel, Lebanon and Iran, […]

Israelis take shelter during Iran's missile attack. Oil prices have jumped over fears of a wider war

Oil prices jump 3% as Middle East conflict intensifies

Oil prices rose by more than 3 percent on Wednesday as Israel vowed retribution for Iran’s ballistic missile attack on its regional adversary. The conflict has intensified rapidly, with Israel also ordering more soldiers into Lebanon to battle the Iran-backed group Hezbollah. There is little sign of de-escalation despite international pleas. That has sent oil […]

Passengers queue at Beirut-Rafic Al Hariri International Airport. Many airlines have suspended operations to Tel Aviv and Beirut

Airlines suspend flights to Middle East

Airlines in the Middle East have cancelled some flights and rerouted others after Iran fired more than 180 ballistic missiles at Israel.  Shares in some European airlines and travel companies fell on Wednesday by up to 2.7 percent after Israel’s neighbours closed airspace and airline crews skirted the conflict zone.  Many airlines have suspended operations […]

The site of an Israeli strike on the city of Ain Deleb in Lebanon. The GCC has called for an immediate ceasefire

As GCC calls for ceasefire, UAE gives Lebanon $100m

The UAE directed an urgent $100 million aid package to Lebanon on Monday, as fighting between Israel and Hezbollah continued. President Sheikh Mohamed bin Zayed al Nahyan said: “This initiative is part of the UAE’s continuous efforts to support Lebanon through its current challenges, underscoring the nation’s unwavering commitment to assisting the Lebanese people.” The […]

Riad Salameh was governor of Lebanon's central bank for three decades

Lebanon’s former central bank governor ‘arrested in Beirut’

The former governor of Lebanon’s central bank, Riad Salameh, was arrested on Tuesday after a hearing in Beirut, a senior judicial source has told Reuters. Salameh has been charged with financial crimes including money laundering, embezzlement and illicit enrichment. He has denied all wrongdoing. Neither he nor his lawyer immediately responded to Reuters’ attempts to […]

Khalaf Ahmed Al Habtoor, chairman of the Al Habtoor Group, said that the “lack of necessary security stability … has left us no choice but to abandon the launch of our television station from Lebanon"

Al Habtoor scraps Lebanon TV channel after physical threats

Dubai’s Al Habtoor Group has cancelled plans to launch a TV channel from Lebanon after physical threats were made to the founder and staff. Chairman and founder Khalaf Ahmad Al Habtoor said that the “lack of necessary security stability for investment … has left us no choice but to step back from this initiative and […]

An airplane on final approach to Beirut International Airport: Lebanon has cut the amount owed to airlines by 9%

Lebanon among biggest debtors to global airlines

The money owed to international airlines in Lebanon has fallen by almost 9 percent year on year, but still totals $129 million, the International Air Transport Association reported on Sunday. Lebanon takes the fifth spot in a 2024 list of countries where funds are overdue for repatriation, IATA said. It was the No 1 country […]

Almost all of Lebanon's visitors in the first quarter came from the Lebanese diaspora

Tourist numbers drop as Western visitors avoid Lebanon

Inbound tourism to Lebanon fell 13.5 percent year on year in the first three months of 2024, mainly as a result of Western tourists staying away, data released by the country’s Ministry of Tourism shows. It is the latest indication of damage to Lebanon’s post-crisis economy caused by the ongoing border conflict between Hezbollah and […]

Israel Lebanon damage

Israeli bombardment costs Lebanon at least $1.5bn

Israel’s bombardment of southern Lebanon in response to the Hamas attacks on October 7 has caused more than $1.5 billion of damage to buildings and infrastructure, the country’s Southern Council says. The president of the council, Hicham Haidar, told AGBI that damage to residential and commercial buildings stands at $1 billion, with 1,700 buildings destroyed […]

Lebanon-restaurants

Lebanon’s diners defy both slowdown and spectre of war

It is a cliché in Lebanon that people will always find the money for restaurants, even with war and conflict once again threatening its southern borders. “No matter what, Lebanese people want to go out,” says Christian Ghosn, CEO of Ghia Holding, which operates 25 restaurants in Lebanon, the Middle East, and Europe.  When Ghosn’s […]