A funding crisis battering China's big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully curb the threat. It warned there were "concerns of negative spillovers to the broader economy and global markets".

The current midmarket rate for a US dollar is LBP1,500, while the black-market rate is more than LBP23,000 to the dollar.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three Hezbollah-linked financial facilitators and their Lebanon-based travel company. Specifically, OFAC designated Adel Diab, Ali Mohamad Daoun, Jihad Salem Alame, and their company, Dar Al Salam for Travel & Tourism. This action comes at a time in...

Lebanon ministers said they aim to increase the hours of EDL’s power supply in the near future by securing Egyptian gas and Jordanian electricity.

Riad Salameh is among the top Lebanese officials blamed for a financial crisis that the World Bank says is of a scale usually associated with wars.

Analysts think politically diverse Gen Z voters hold one of the keys to Erdogan's tricky path to presidential re-election.

After more than six years of the conflict in Yemen, it remains the largest humanitarian crisis in the world, with over 20 million people in need of aid.

The midmarket rate for the Lebanese pound is around 1,500 to the dollar, but the reality on the ground is that the black-market rate of 30,000 prevails.

Prime Minister Najib Mikati has said the Hezbollah allegations do not reflect the official position of Lebanon.

The Lebanese pound has lost more than 90 percent of its purchase power since end-2019, due to its devaluation against the dollar. The exchange-rate problem has led to a fuel shortage in Lebanon, to the extent that the entire country was plunged into darkness earlier this year.

The World Bank on Thursday said it agreed with its partners to repurpose $37 million in funds to help Lebanon's public school teachers survive a crushing economic crisis. The World Bank and the UK Foreign, Commonwealth and Development Office would divert the money from the Lebanon Syrian Crisis Trust Fund,...

Lebanon needs to receive 12 to 15 billion dollars from its partners to kickstart its economic recovery and shore up fast-diminishing foreign currency reserves, Central Bank Governor Riad Salameh said Tuesday. Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet's worst...

Lebanon is in the throes of an economic meltdown that has been called by the World Bank as among the planet's worst since the 1850s. The crisis is widely blamed on nepotism and corruption among the country's ruling class.

Guterres has previously called on Lebanese officials to unite to find solutions to the country's dire economic crisis, dubbed by the World Bank as among the planet's worst since the 1850s. Around 80 percent of Lebanon's population is estimated to be living under the poverty line.

Lebanon's spiraling economic crisis is causing abuse against children to soar and is putting one child out of two at risk of violence, the United Nations said on Friday. "One in two children in Lebanon is at serious risk of physical, emotional, or sexual violence, as families struggle to cope...

Disagreements over the size of the losses between Lebanon's government, central bank, and banking sector contributed to the collapse last year of negotiations with the fund over a new loan program, which is seen as essential to the country's efforts to emerge from a severe economic slump.

The United Nations says about one-third of Iraq's population lives in poverty, despite the country's oil wealth. The effects of low rainfall have been exacerbated as the levels of the country's two main rivers, the Tigris and Euphrates, drop because of upstream dams in neighboring Iran and Turkey.

Turkey's annual inflation rate jumped over 20 percent in November, official data showed Friday, after a currency crisis last month when the Turkish lira hit record lows against the dollar.

The Netherlands will provide support to the Lebanese media to ensure access to and delivery of reliable information for voters.

The Turkish lira plunged to record lows against the dollar on Tuesday after President Recep Tayyip Erdogan said policymakers have no appetite to hike interest rates in response to the currency's fall.

Lebanon's government, formed in September, has yet to take serious action to stop its downward spiral.

Belarus leader Alexander Lukashenko accused of luring migrants from the Middle East to his country to send them across the border in retaliation for EU sanctions.

The economy of Lebanon is in crisis. Here’s a look at which countries it depends on for trade and aid, and how much.

This is bad news for Lebanon, which had been counting on financial assistance from the Gulf to rescue its economy. Now, its ties have soured with four countries in the neighborhood because of comments made by its Information Minister George Kordahi.

The Lebanese central bank has opened a credit line of $60 million for medicine importers.

Facebook executives say the profits could have been even more if not for Apple updating its iPhone operating system to thwart advertisers targeting users without permission.

The Chinese firm has restarted work on 10 projects.

European leaders heaped praise on German Chancellor Angela Merkel on Friday as she attended what is likely her last EU summit after a 16-year reign heavily influencing the bloc through major ups and downs.

In the absence of a functioning public transport system, car culture has thrived in Lebanon, with many households, even modest ones, boasting multiple vehicles. Since 2019, however, an ever-worsening financial crisis has made petrol unaffordable for many and long queues at gas stations unbearable for the rest.

Azerbaijan-Iran ties soured weeks ago over allegations that Israel's military was active in Azerbaijan.

The UAE recorded fewer than 200 new cases of Covid this month, the lowest figure since Aug 2020. While life in the emirates has largely returned to normal, masks and social distancing rules remain in force. Heavily reliant on tourism, Dubai was one of the first destinations to reopen its...

Lebanon has gradually increased fuel prices in recent months because the cash-strapped central bank can no longer afford to fund fuel imports.

The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand into more than 280 Chinese cities as it peddled home-ownership dreams.

If the Lebanese were expecting a measure of relief from the new Mikati government, they were badly disappointed. The government hiked the price of gasoline, cutting a subsidy that Prime Minister has said the country cannot afford.

Leaders from around the MENA region are arriving in Baghdad for a summit meant to lower tensions in the region. The meeting is a chance for Iraq to showcase its recent efforts to be a neutral mediator.

Bahrain has succeeded in lowering its deficit by 35 percent to $1.38 billion in the first half of 2021, compared with the same period last year.

As the fuel crisis worsens in Lebanon, the country's leadership appears to be at odds over how to end the crisis that has kept the whole country on the edge for most of the summer.

78 percent of the country's population lives in poverty, higher than last year's figure of 55 percent.

The fatalities have taken place in two different incidents in the country where fuel is scarce due to an ongoing economic crisis. Lebanon is in the throes of an economic crisis that has led the country’s currency to be devalued by more than 90% since end-2019.

Lebanon's prime minister-designate Saad Hariri stepped down Thursday, saying he was unable to form a government, nine months after accepting the challenge and as the country sinks deeper into crisis.

Lebanon’s Caretaker Prime Minister Hassan Diab has said the monetary aid other nations have promised should be sent now to avert further crisis Lebanon has been promised billions of dollars in international assistance Lebanon’s Caretaker Prime Minister Hassan Diab has urged countries across the world to start sending the monetary...

Yemen is plagued by conflict that started with Houthi insurgence Some 80 percent of Yemenis are dependent on aid To cope with a worsening humanitarian crisis in the country, Yemen would receive $150 million in aid from the World Bank to shore up the war-scarred country’s basic healthcare, nutrition, and...