Lebanese PM talks to Saudi minister about support for economy

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BEIRUT (Reuters) - Prime Minister Saad al-Hariri spoke to the Saudi finance minister on Saturday about support for the Lebanese economy and preparations for the first meeting of a bilateral council, his media office said. Saudi Finance Minister Mohammed al-Jadaan said on Wednesday that Riyadh was in discussions with the Lebanese government about providing financial support, lifting Lebanon’s dollar-denominated government bonds. Lebanon, one of the world’s most heavily indebted states, faces financial strains linked to a slowdown in capital inflows needed to meet the financing needs of the government and the import-dependent economy. Years of low growth have also weighed.

Central bank foreign assets have been in decline. These, excluding gold, fell around 15% from an all-time high in May last year to $38.7 billion in mid-September. In a phone call, Hariri and Jadaan discussed “preparations to hold the first meeting of the Lebanese-Saudi joint committee and ... the agenda that includes agreements and memorandums of understanding that are intended to be signed”. They also discussed “ways leading to the support of the Lebanese economy and the participation of the Saudi private sector in projects included in the Cedre conference”, a reference to a major infrastructure investment program.

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Temporary closure of Lebanese Future TV: A sign that online video is the future?

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by ameinfo.com -- Earlier this week, Lebanese Prime Minister Saad Al Hariri announced that he will be temporarily shutting down his family-owned TV station, Future TV, after being on air for 26 years. “It is with great regret I announce today a decision to suspend the work of Future TV and payment of dues to the channel’s employees. This is due to the same financial reasons that led to the closure of the newspaper Al-Mustaqbal,” said Hariri in a statement. Hariri explained that it is essential that “the people of Future TV, all the Lebanese public, and the Arab brothers know that the channel will not be shut down and the decision is not to suspend its work permanently and turn it into a part of the past. The channel is rather announcing the end of a period of its journey to be able to address the accumulated financial burdens.”

According to Middle East Monitor, “Future TV employees have been on strike since early August over unpaid wages, a crisis that has continued for years but has aggravated in recent months.” AMEinfo also heard of this first-hand from a disgruntled employee working for the station. He is one of about 300 employees and freelancers working for the troubled station.

'Show me the money'; dollar-hungry businesses squeezed in Lebanon

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BEIRUT (Reuters) by Lisa Barrington and Ellen Francis -- Cars line up to fill their tanks but the worker at the gas station in Lebanon’s capital city waves them off, standing by the ‘Strike!’ signs. “No fuel today,” he shouts. The day of industrial action, replicated at petrol pumps across the country, was not really about fuel, it was about the dollars needed to pay for it, or rather the lack of them. “We don’t want a crisis ... the sector is bleeding,” said Fadi Abu Chakra, a spokesman for fuel distributors who led the strike this week. “We (get paid) in Lebanese pounds, and we need dollars to pay importers. Where are we supposed to get dollars if the banks are not giving them?”

A stagnant local economy and a slowdown in cash injections from Lebanese abroad have reduced the central bank’s foreign currency reserves, making it difficult for businesses to buy the dollars they need from banks. Some say they are being forced to go to money exchange houses which charge rates above the official peg of 1,507.5 pounds to the dollar. Lebanon has not seen such financial strains since its 1975-1990 civil war. The steady pressure has raised concerns for the stability of a country where political tensions - local and regional - are never far from the surface, and which hosts around a million Syrian refugees.

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Report: SA is Cutting Visa Fees for Lebanese

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by naharnet.com -- Obtaining a Saudi visa is about to become cheaper for Lebanese nationals. The Lebanese Broadcasting Station TV said on Saturday that Saudi authorities aim to cut down the fees to obtain all kinds of visa entry for Lebanese. The fees will be reduced to $80 dollars, which is equivalent to SR 300. According to the Saudi Embassy website, for non-U.S. passport holders the visa fee is one hundred and thirty-four U.S. dollars ($134.00) for multiple entries and fifty-four U.S. dollars ($54.00) for a single entry. The visa fee is one hundred and eight U.S. dollars ($108.00) for U.S. passport holders.

Commémoration de l'assassinat de Bachir Gemayel : "Le Liban ne peut pas s'agenouiller devant le Hezbollah"

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by lorientlejour.com -- Le chef des Kataëb Samy Gemayel et le député d'Achrafieh Nadim Gemayel s'en sont violemment pris samedi au Hezbollah, à l'occasion du 37ème anniversaire de l'assassinat, le 14 septembre 1982, du fondateur des Forces libanaises Bachir Gemayel, élu à la présidence de la République 22 jours plus tôt. "Le Liban ne peut pas s'agenouiller devant le Hezbollah", a lancé Nadim Gemayel, à l'occasion d'un discours auxquels ont assisté les principaux cadres du parti Kataëb, opposant déclaré au gouvernement. "Le temps est venu de nous unir face aux armes illégitimes et à la tentative d'une nouvelle occupation du Liban que l'on essaye d'imposer à la nation", a-t-il ajouté. "Il y a un parti qui prend ses ordres à l'extérieur du Liban, et dont les objectifs non-libanais nous imposent des choix non-libanais, et l’État se débine, comme en 1975", a estimé le député Kataëb du quartier d'Achrafieh, à Beyrouth, en référence au parti chiite. "La ligne nationale et souverainiste est fragmentée. Sans une union de nos efforts, nous ne serons pas pris au sérieux", a ajouté Nadim Gemayel. "Il faut en finir avec cet État qui n'arrive pas tenir debout", a-t-il conclu, appelant les responsables à "assumer leurs responsabilités avant qu'il ne soit trop tard".

"Sièges en carton"

"Notre pays est gouverné depuis l'étranger, et notre État est lâche et soumis à cause des mauvais choix de responsables qui ont modifié le visage du Liban", a aussitôt renchéri Samy Gemayel. "Si Bachir était encore vivant, aurait-il livré le pouvoir de décision de l’État ? Aurait-il été élu par ceux qui ne croient pas en la souveraineté du Liban et qui sont entrés dans la logique des quotes-parts, en échange de sièges en carton en abandonnant la cause ?", s'est-il interrogé, en référence notamment au Courant patriotique libre, allié du Hezbollah et fondé par le président Michel Aoun. et aux Forces libanaises. Il s'est ensuite symboliquement adressé à Bachir Gemayel. "Nous suivons ton exemple. Tu nous as appris à dire la vérité aussi difficile soit-elle, et aujourd'hui, le Liban a plus que jamais besoin que la vérité soit dite", a lancé le chef des Kataëb. "Toutes les fautes qui ont été commises par le passé et contre lesquelles tu nous as mis en garde se reproduisent aujourd'hui (...) L'absence de l’État et la reddition face aux armes qui ont détruit notre pays et notre peuple sont encore là et ouvrent la voie aux armes illégitimes qui se déploieront sur l'ensemble du territoire", a encore dit Samy Gemayel.

Beirut ranked among best party cities in the world

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by dailystar.com.lb -- BEIRUT: Lebanon’s capital has been ranked among the best party cities in the world, alongside Las Vegas, New York and Rio de Janeiro. CNN Travel published a report last week listing 11 cities in alphabetical order. “No matter the time of day in this city, chances are there's a party happening somewhere,” the article said of Beirut. The article quoted Roxane Fersane, chief concierge of the Four Seasons Hotel, near Beirut’s waterfront, as saying that “partygoers of all ages – with different tastes in music, food, and ambiance – are catered to” in Beirut. It lists Beirut’s waterfront as one of the most popular party destinations, saying that the area is “littered with popular clubs and rooftop bars.” But it also says that many locals prefer to flock to particular streets, such as Gemmayzeh and Mar Mikhael, which are famous for their bars and clubs. “Gemmayzeh and Mar Mikhael are well-renowned streets that have a traditional feel and are popular for bar-hopping,” says Fersane. “And Hamra Street has more of a hippie ambiance and is popular for its pubs, street cafes and bars.” The CNN Travel article also includes cities such as Bangkok, Barcelona, Cape Town and Seoul.