INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Lebanon parliament extends army chief’s job, avoiding vacuum

Lebanese Army Commander in Chief General Joseph Aoun (C) attends a military parade to celebrate the 74th anniversary of Lebanon's independence in downtown Beirut, on November 22, 2017. AFP/File
  • Parliament approved delaying the retirement of senior officers at the head of the military and security services for one year, Lebanon's official National News Agency said
  • Lebanon has been without a president for more than a year and its government is operating in a caretaker capacity as political deadlock paralyses decision-making

Beirut, Lebanon – Lebanese lawmakers on Friday extended the army chief’s mandate, averting a military power vacuum as the country faces spillover of the Israel-Palestine conflict without a president or a fully functioning government.

Parliament approved delaying the retirement of senior officers at the head of the military and security services for one year, Lebanon’s official National News Agency said.

Army chief Joseph Aoun was set to retire on January 10, 2024, while the second most senior military position is already vacant.

Lebanon has been without a president for more than a year and its government is operating in a caretaker capacity as political deadlock paralyses decision-making.

No group in parliament holds an outright majority that would allow the election of a new head of state.

Around 80,000 Lebanese serve in the army, which is seen as a key pillar of the country’s stability.

The force is also deployed in the country’s south, which has seen deadly exchanges of fire, mainly between the Israeli army and the Iran-backed Hezbollah movement, since the Israel-Hamas war began in October.

Lebanon is navigating a devastating economic crisis that has plunged most of the population into poverty, according to the United Nations, and the cash-strapped military struggles to even maintain its own equipment.

The head of one of Lebanon’s top security agencies retired in March without a replacement, while the central bank governor’s mandate expired in July, without a clear successor.