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One year after Beirut blast, Lebanon suffering economic and political crises go.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from go.com Daily Mail and Mail on Sunday newspapers.
DUBAI: Since Lebanon’s currency collapsed in October 2019 thrusting the nation into its deepest economic crisis in recent memory a growing number of its citizens have been forced to rely on private generators to power their homes. The alternative is to go without electricity for several hours every day. Earlier this month, Karpowership, a Turkish energy company responsible for around a quarter of Lebanon’s electricity supply, turned off its generators, claiming that the debt-burdened Lebanese government owed it millions of dollars in unpaid dues. Faisal Al-Sayegh, a Lebanese MP, had warned in March that “two Turkish steamboats that were hired by the Ministry of Energy to generate electricity are to withdraw from Lebanon because they did not receive their dues, which are about $160 million.” ....
Curses of poverty and affluence and the search for financial cures September 6, 2018 Many believe that there is no such thing as too much money. At a closer look, however, the extreme abundance or absence of wealth both appear to be prime causes of anguish, albeit in incomparable proportions. Even moderate and temporary cases of poverty lead to all manner of problems, from stress and sleeplessness to ulcers and constant headaches; the poor are often denied their rights to dignity, housing, a clean environment, safe water and food, education, healthcare, labor, and freedom of movement. It is also true that more people stress over the absence of wealth than those who suffer due to extreme riches. However, this is only the case since the precariat, and the extreme poor outnumber the wealthy by such huge margins. ....
Amid crisis, Hezbollah bank is lifeline for some Lebanese As Lebanon s economic crisis continues to deepen, an increasing number of people are turning to the financial arm of the Iranian-backed militant group for help, receiving small, interest-free loans in dollars at a time of desperate need for hard currency Associated Press | Published: 01.27.21 , 10:59 When Lebanon’s financial meltdown began in late 2019, Hassan Shoumar was locked out of his dollar savings like everyone else in the country as banks clamped down with capital controls. But the young engineer had an alternative. He could still pull out the dollars in his account at the al-Qard al-Hasan Association, the financial arm of the Hezbollah terror group. ....