Lebanese Depositors Smash Up, Burn Beirut Banks

Several dozen Lebanese protesters attacked banks in a Beirut neighborhood on Thursday, while blocking roads protesting against informal restrictions on cash withdrawals in place for years and rapidly deteriorating economic conditions.

At least six banks had been targeted as the Lebanese pound hit a new record low on Thursday, a spokesperson for Depositors Outcry, a lobby representing depositors with money stuck in the country’s banking sector, said.

A bank in the Badaro neighborhood smouldered as firefighters sprayed water, while riot police stood nearby with shields.

Since 2019, Lebanese banks have imposed restrictions on withdrawals in U.S. dollars and Lebanese pounds that were never formalized by law, leading depositors to seek access to their funds through lawsuits and often by force.

The Lebanese pound has lost more than 98% of its value since the country’s financial sector imploded in 2019. It was changing hands at around 80,000 pounds per greenback on Thursday, dropping from 70,000 pounds just two days earlier.

The country’s central bank, which has struggled to manage the crisis, did not respond to a request for comment on why the pound had crashed and what it was doing to address the issue.

The office of Lebanon’s prime minister said work was ongoing to remedy financial conditions in the country.

Lebanon made a first step towards securing an International Monetary Fund bailout in April 2022 but, nearly a year later, has failed to carry out the reforms needed to finalize it.

Source: Voice of America

China reveals the volume of its imports of Iraqi oil for the past year

Baghdad, The Chinese Embassy in Baghdad revealed, today, Thursday, the volume of its imports of Iraqi oil during the past year 2022.

“In 2022, China imported 55.49 million tons of crude oil from Iraq,” the Embassy said in a post on its Facebook page.

It added, “The value of oil imports from Iraq amounted to 39.04 billion dollars, an increase of 47.49% on an annual basis.”

Source: National Iraqi News Agency

MIKATI TACKLES DEVELOPMENTS WITH BOU HABIB, UK OFFICIALS

Caretaker Prime Minister, Najib Mikati, on Thursday met at the Grand Serail with Caretaker Minister of Foreign Affairs and Emigrants, Abdallah Bou Habib, with whom he discussed the current situation of the ministry of foreign affairs.

Mikati then met with Director General for the Middle East at the Foreign, Commonwealth and Development Office, Vijay Rangarajan, in the presence of British Ambassador to Lebanon, Hamish Cowell, with whom he discussed the repercussions of the earthquake that hit Syria and Turkey, and the difficulty of securing aid to stricken regions.

For his part, the British official thanked the “Lebanese humanitarian institutions for swiftly responding to humanitarian calls to help those afflicted in quake-hit areas.”

Cowell then lauded “Lebanon’s strategic role in the region,” calling on Lebanese politicians to expedite the election of a new president.

Source: National News Agency

Premier Arnous receives condolence cable from Secretary General of Eurasian Peoples’ Assembly

Damascus, Prime Minister, Eng. Hussein Arnous, received a cable of condolence from the Secretary-General of the Eurasian Peoples’ Assembly, Andrey Belyaninov, in which he expressed his deep condolences over the victims of the devastating earthquake that hit several Syrian governorates recently.

“Our prayers are for those who have lost loved ones during these difficult times,” Belyaninov said in his cable, wishing speedy recovery for the injured.

Source: Syrian Arab News Agency

Minister Mikdad to Malaysian delegation: Syria appreciates Malaysia’s support

Damascus-Fayssal Mikdad, Minister of Foreign Affairs and Expatriates, expressed Syria’s high appreciation for Malaysia’s standing by its side in these difficult times.

Meeting with a Malaysian delegation headed by Dato’ Norman Bin Muhamad, Deputy Secretary General of Bilateral Affairs of Malaysia, Minister Mikdad, expressed Syria’s high appreciation for Malaysia’s standing by its side in these harsh times, adding that the Syrians are proud of their historical relations with Malaysia, and in the existing cooperation between the two countries at various stages and on several levels.

Mikdad presented the impact of the terrorist war that Syria has faced in all its forms and the destruction caused by terrorist groups in weakening its national capabilities to confront such natural disasters.

Norman offered his country’s condolences over the the victims of the earthquake which left thousands of victims and injured, stressing that his country stands by Syria in the face of this humanitarian catastrophe.

He presented the aid that was sent to Syria to face the repercussions of the earthquake, and the tasks to be carried out by the specialized team that arrived in Damascus, pointing to the Malaysian government’s intention to send more aid to Syria in the coming days.

Source: Syrian Arab News Agency

Southern Governor stresses keenness on catering to citizens’ needs

Southern Governor, His Highness Shaikh Khalifa bin Ali bin Khalifa Al Khalifa, met with Minister of Municipalities Affairs and Agriculture Eng. Wael bin Nasser Al-Mubarak, in the presence of a number of officials.

HH the Southern Governor stressed keenness on achieving the citizens’ aspirations and catering to their needs, in line with the directives of His Majesty King Hamad bin Isa Al Khalifa and the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. He discussed the work progress in many services and development projects being implemented in the Southern Governorate, stressing keenness to meet citizens’ aspirations.

The Minister of Municipalities Affairs and Agriculture commended the efforts made by HH the Southern Governor in assessing the citizens’ needs and catering to them. He also praised the pioneering initiatives of the Southern Governorate to improve the infrastructure and public facilities. He lauded cooperation between the Southern Governorate and the Ministry of Municipalities Affairs and Agriculture in implementing the services projects.

Source: Bahrain News Agency

HM King issues decree (17) of 2023

His Majesty King Hamad bin Isa Al Khalifa today issued Decree No. (17) of 2023 amending Article (1) of Decree No. (61) of 2021 establishing the General Authority for Sports, based on a proposal by the Prime Minister And after the approval of the Cabinet, it was stated:

Article 1:

The Minister’s definition contained in Article (1) of Decree No. (61) of 2021 establishing the General Sports Authority for Sports shall be replaced with the following definition:

Minister: “Minister concerned with youth affairs”.

Article 2:

The Prime Minister, and ministers, each in their capacity, shall implement the provisions of this decree, which becomes effective upon its issuance and will be published in the Official Gazette.

Source: Bahrain News Agency

HM King issues decree (18) of 2023

His Majesty King Hamad bin Isa Al Khalifa today issued Decree No. (18) of 2023 appointing a chief executive of the National Center for Financial Investigation at the Ministry of Interior, based on the proposal of the Minister of Interior, and after the approval of the Cabinet, in which it was stated:

Article 1:

Shaikha Mai bint Mohammed bin Khalifa Al Khalifa is appointed as Chief Executive Officer of the National Center for Financial Intelligence at the Ministry of Interior.

Article 2:

The Minister of Interior shall implement the provisions of this decree, which becomes effective upon its issuance and will be published in the Official Gazette.

Source: Bahrain News Agency

HM King issues Decree (19) of 2023

His Majesty King Hamad bin Isa Al Khalifa issued Decree (19) of 2023 appointing Dua’a Sultan Mohammed Salman as Deputy Chief Executive of the Statistics and Population Registry at the Information and eGovernment Authority, following a proposal by the Minister of Interior and the approval of the Cabinet.

The Minister of Interior shall implement the decree which shall take effect upon its issuance and will be published in the Official Gazette.

Source: Bahrain News Agency