Lebanon

BEIRUT (AP) — On one of Beirut’s main commercial streets, store owners are cutting salaries by half or considering shutting down. Shops advertise sales, but still can’t draw in customers. The only place doing a thriving business: the store that sells safes, as Lebanese increasingly stash their cash at home.

It’s a sign Lebanese fear their country’s financial crisis, which has been worsening for months, could tip over into disaster.

BEIRUT (Reuters) - Lebanese security forces scuffled with protesters as they sought to prevent lawmakers from attending a session of parliament on Tuesday, continuing a month-long wave of demonstrations against politicians blamed for taking Lebanon toward economic collapse.

Queues built at banks that reopened after a one-week closure, with police deployed at branches and banks imposing tight restrictions on hard currency withdrawals and transfers abroad.

BEIRUT (Reuters) - Lebanon is like a sinking ship that will go under unless action is taken, Parliament Speaker Nabih Berri was quoted as saying on Monday, referring to the country’s deep economic and political crisis.

Newspaper al-Joumhuria cited Berri, an ally of the Shi’ite group Hezbollah, as telling visitors that efforts to form a new government were “completely frozen” and awaiting developments at any moment.

17 Nov 2019; MEMO: Former Lebanese finance minister Mohammad Safadi withdrew his candidacy to be the next prime minister on Saturday, saying that he saw that it would have been difficult to form a “harmonious” cabinet supported by all parties.

15 Nov 2019; MEMO: Lebanese President Michel Aoun has expressed his hope for the formation of a new government in the coming days, after overcoming the obstacles which may hinder its composition. “The demands made by the protesters in the squares are being followed-up,” tweeted Aoun. “These will be one of the government’s first objectives, following its formation, which we are working to achieve in the near future.”

BEIRUT, Nov. 14 (Xinhua) -- Lebanese political parties agreed on Thursday to appoint former parliament member Mohammad Safadi as new prime minister, local TV Channel LBCI reported.

LBCI said that Hezbollah, Future Movement, Free Patriotic Movement and Amal Movement agreed on appointing Mohammad Safadi as next prime minister.

Former prime minister Saad Hariri resigned on Oct. 29 after the nationwide protests started on October 17 due to the incapability of the cabinet to implement structural reforms to save Lebanon's ailing economy.

BEIRUT, Nov. 12 (Xinhua) -- Lebanese President Michel Aoun on Tuesday called on the protesters to leave the streets, while assuring that he supports all of their demands and implementation of reforms.

"If the Lebanese stay in the streets, they will ruin the country and we will reach a disastrous situation. We still have the opportunity to get out of our current situation if people go back to their work and we restore normal life in the country," Aoun said in a televised interview.

12 Nov 2019; MEMO: Hezbollah leader Hassan Nasrallah said yesterday that region is ready to confront the “Israeli enemy”.

Nasrallah hailed remarks by Houthi leader, Abdul Malik Al-Houthi in which he threatened to use utmost power to respond to threats posed by Israel.

“Although Yemen has been under the Saudi-led aggression for five years, Al-Houthi threatened to respond to any attack by the Israeli enemy,” Nasrallah said during the party’s Martyr’s Day commemoration.

12 Nov 2019; MEMO: The Governor of Lebanon Central Bank, Riad Salameh, said yesterday that the 2017 resignation of Prime Minister Saad Hariri following pressure from Saudi authorities has negatively affected the country’s economy.

BEIRUT (Reuters) - Lebanon’s banks and schools were shut on Tuesday in a new wave of disruption as politicians struggled to agree on a new government to steer the country out of its worst economic crisis since the 1975-90 civil war.

President Michel Aoun said formal consultations with MPs to nominate a new prime minister and form the cabinet would be held soon. Ahead of the formal discussions, politicians have been trying to agree on the composition of the government to replace caretaker Prime Minister Saad al-Hariri’s outgoing cabinet.