S&P upgrades Lebanon's local currency rating to CCC, affirms foreign currency rating at SD
Reuters
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
LBCI
15 hours ago
- LBCI
S&P upgrades Lebanon's local currency rating to CCC, affirms foreign currency rating at SD
S&P Global Ratings announced an upgrade of Lebanon's long-term local currency rating to CCC with a stable outlook, while affirming its foreign currency rating at SD. Reuters
LBCI
a day ago
- LBCI
Lebanon and Syria launch push to revive trade and transport — can the lifeline be restored?
Report by Ghida Fayad, English adaptation by Karine Keuchkerian Between Beirut and Damascus, transportation has never been just about crossing the border. It has long served as a vital lifeline, connecting Lebanon to Arab markets, carrying goods and passengers in both directions. In recent years, however, that lifeline has dwindled under the weight of high fees, complicated procedures, and political and security pressures. Now, new agreements aim to restart it by facilitating the movement of goods and passengers between the two countries. Under the agreements, Lebanese and Syrian trucks, as well as public transport vehicles from both countries, will be exempt from any fees when entering or leaving the other's territory. The two sides also agreed to implement the International Road Transport, or transit, agreement in line with the 1977 Arab Convention, and to reduce transit fees for Lebanese trucks passing through the Al-Qaim crossing from 10% to 2%. Regarding the entry of empty trucks and vehicles and loading for a third country, Syria promised to consider allowing Lebanese trucks to transport goods to countries inaccessible to Syrian trucks. Damascus also asked Lebanon to study the possibility of allowing empty Syrian buses to enter Lebanon to transport passengers, with Beirut pledging to coordinate with the relevant authorities on the condition that these buses do not operate within Lebanese territory. The understandings also call for both sides to work with their respective authorities to reduce customs clearance fees, grant an exemption for trucks carrying steel rolls weighing up to three tons, and explore reactivating the 'Orange Card' related to the unified compulsory insurance system. A direct communication unit will also be established to allow immediate coordination in resolving any problems faced by transport vehicles or trucks, whether at the border or inside either country. These agreements are not new, but rather a revival of an accord dating back to 1993 — one that has seen periods of activity and stagnation and is now returning to the forefront in an effort to breathe new life into transportation and trade between Lebanon and Syria.
LBCI
a day ago
- LBCI
With US backing, Israel moves to divide West Bank and expand settlements
Report by Amal Shehadeh, English adaptation by Mariella Succar With full U.S. support, the Israeli government is moving forward with a plan considered the most dangerous yet for derailing the Palestinian state project. The government is expected to give final approval next week for construction plans in the E1 area. The plan would divide the West Bank into two sections, separating the north from the south, forming the backbone of efforts to eliminate the idea of a Palestinian state. The government's approval comes after years of delays due to international pressure and the dramatic, irreversible implications for the future of the territories under Israeli occupation. Finance Minister Bezalel Smotrich promoted his settlement plan, stating that a key condition of his coalition is to impose full Israeli sovereignty over the West Bank and link settlement activity there with Gaza. He argued that one of the objectives of the Gaza war is to re-establish settlements in the Strip as a condition for victory, asserting that such a plan would permanently end the idea of a Palestinian state. Smotrich, who described any support for a Palestinian state as 'suicidal' for Israel, revealed the start of a plan to expand the Ma'ale Adumim settlement and link it with Jerusalem, as a strategic step to consolidate Israeli control over the West Bank. Meanwhile, the Israeli government, through its relevant institutions, has issued orders to seize thousands of dunams of Palestinian land and allocated billions of shekels for investment in these territories. The plan aims to settle one million new Israeli settlers in the West Bank as part of what has been described as continuous Jewish construction to eliminate the Palestinian state project.
