INSEAD Day 4 - 728x90

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

US to help Lebanon procure electricity

  • The economic crisis in Lebanon is so dire that the World Bank has said it is among the 10 worst of its kind since the mid-1800s.
  • The global body also said the crisis could be among the top three in the world if it was not addressed immediately

The office of the president of Lebanon has announced that the United States will help the country get electricity.

A Twitter account connected to the office said Lebanese President Michel Aoun had had a conversation with the US ambassador to his country.

It added that Aoun had been assured that the US would help the country procure electricity from various sources.

Read the tweet here:

Lebanon has been struggling with fuel shortages for at least a couple of months now, which has led to protracted power outages across the country.

The situation has been made worse by the surge in Covid-19 cases in the country in the past few weeks.

Hospitals across the country are struggling to keep patients alive, as power cuts necessitate the use of generators to run life-saving equipment.

Now, those generators need fuel, which too is at a premium in the country, with Lebanon’s central bank governor effectively ending fuel subsidies earlier this month.

The economic crisis in Lebanon is so dire that the World Bank has said it is among the 10 worst of its kind since the mid-1800s.

The global body also said the crisis could be among the top three in the world if it was not addressed immediately.