Wall Street stocks fell early Tuesday following mixed results from Walmart and Home Depot as concerns about higher interest rates continued to weigh on markets.
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The Mansourieh branch of Bank of Beirut was on Tuesday sealed with red wax at the orders of Mount Lebanon Prosecutor Judge Ghada Aoun, media reports said.
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Two UK tea manufacturers on Monday faced accusations of sexual abuse on tea plantations in Kenya, according to an undercover investigation by the BBC.
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Central Bank Governor Riad Salameh has announced that he has decided to leave his post following the end of his term.
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Contacts were held over the past 48 hours between senior officials and political leaders, especially Speaker Nabih Berri and caretaker PM Najib Mikati, in a bid to defuse the tensions related to the latest Lebanese currency crash and the banking sector strike, a media report said.
Full StoryThousands of flights to and from German airports were canceled Friday as workers walked out to press their demands for inflation-busting pay increases.
The strikes at seven German airports, including Frankfurt, Munich and Hamburg, affected almost 300,000 passengers and forced airlines to cancel more than 2,300 flights.
Full StoryThe lower house of France's parliament debated a contested pension bill aimed at raising the country's retirement age from 62 to 64 during what was expected to be lawmakers' last discussion on the proposal before sending the legislation to the Senate.
President Emmanuel Macron's government has vowed to go ahead with the reform despite nationwide protests and strikes and opinion polls consistently showing a majority of French people oppose the change.
Full StoryThe Abu Dhabi National Oil Company's gas processing firm said Friday it plans to sell 4% of its shares to local investors in the latest initial public offering to be made by a state-run energy company in the Middle East.
The move follows a similar IPO by the Saudi oil giant Aramco in 2019 that raised some $30 billion, and comes months before the United Arab Emirates is set to host this year's U.N. climate talks.
Full StoryA Saudi sovereign wealth fund now holds 8.26% of the stock in the video game maker Nintendo, making it the largest outside investor in the Japanese gaming company, a company filing said Friday.
The investment comes as part of efforts by the kingdom's Public Investment Fund to diversify Saudi Arabia's economy away from oil, including billions already spent on video game firms. The fund has been a major component in the plans of Saudi Crown Prince Mohammed bin Salman, himself said to be an avid gamer.
Full StoryIn less than a week the Lebanese pound's value against the dollar has plummeted to a new low from 66,000 to 80,000 at the black market rate, the exchange rate used for buying and selling most goods and services in the country. There are several mobile exchange rate applications that have been the reference for the black market rate for years.
Though the country’s pegged exchange rate against the dollar was officially devalued to 15,000 earlier this month, the black market rate has reflected a more realistic market rate for years, but rapidly fluctuates with no transparency.
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