Home - el Khazen Family Prince of Maronites : Lebanese Families Keserwan Lebanon

Lebanon’s crisis, pandemic hit American University in Beirut

Details

by AP -- One of the Arab world’s oldest and most prestigious universities, which endured civil war, kidnappings and various economic crises, is preparing for what may be the biggest challenge in its 154-year history. The American University of Beirut is confronting a global pandemic, a severe recession and the collapse of Lebanon’s currency — all at the same time — and is planning a series of sweeping layoffs and salary cuts in response. AUB president Fadlo Khuri said the school, which ranks among the top 150 in the world, will lay off up to 25% of its workforce, close administrative departments and shelve an ambitious project for a major new medical center. “The layoffs are very painful,” Khuri told The Associated Press in an interview at the sprawling campus on the Mediterranean Sea. “AUB has never had to do this before, we’ve never been forced to have layoffs.”

The American University of Beirut, which operates under a charter from the state of New York, was the first to introduce American education to the Middle East. For generations, it has educated the Arab world’s elite, produced three presidents, around a dozen prime ministers — including Lebanon’s current premier, Hassan Diab — and countless Cabinet ministers and ambassadors. Its vibrant campus has also been a pillar of Beirut’s cultural and intellectual life, with a diverse student body and a history of activism. The announcement has come as a shock to members of the 6,500-strong workforce of AUB and the American University Medical Center. Tens of thousands of Lebanese have already lost their jobs in a worsening economic crisis exacerbated by the coronavirus outbreak. The crisis is rooted in decades of institutionalized corruption and mismanagement that came to a head last October, igniting mass protests. The economic meltdown has plunged the fragile country into deep uncertainty and threatens to unleash further unrest and chaos. Unemployment has skyrocketed to 35%, and nearly half the population lives below the poverty line, according to the World Bank.

Anxious Lebanese turn to property amid banking crisis

Details

by NAJIA HOUSSARI -- .arabnews.com -- BEIRUT: The Lebanese real estate sector has witnessed a spike in activity in the past three months despite an economic crisis that has seen the exchange rate of the dollar reach 6,000 lira, four times the official price. Raja Makarem, a property expert and director of Ramco Real Estate, said that sales over the past three months amounts to over $2 billion. He told Arab News that the real estate rush “will continue as long as the Lebanese banks agree to give bank checks to their depositors.” The decline of the real estate sector was one of the major signs of the economic crisis that began in 2012. The crisis peaked after the end of subsidized housing loans and the decline of foreign investment in the Lebanese real estate market. With Lebanon entering the stage of financial collapse in the second half of last year, real estate sector indicators recorded dire results for property value and sales numbers on top of a notable decline in new building licenses.

Property sales fell by up to 70 percent and the prices of apartments, especially larger ones, fell in value by 25 percent on average. In light of banking restrictions on personal savings pushed through last November, and rumors of further measures, many Lebanese have used property as a vehicle to retain personal savings. Jamal Shamas, a property expert, said: “During the last three months, depositors, especially those with large amounts, have been rushing to buy apartments in Solidere, in the heart of Beirut, and apartments on the Beirut waterfront, as these areas maintain their value due to their unique locations.” He added: “I now receive 20 calls per day to procure apartments as an accredited expert for real estate appraisal. “This phenomenon reached its climax when the banks announced that the depositors can withdraw small amounts from their dollar-based savings in Lebanese pounds, with a generous fixed exchange rate, so depositors rushed to real estate to save their deposits.” “These depositors are not all Lebanese; there are Syrians, Iraqis, and Gulf nationals who have accounts in Lebanese banks. Most of the Lebanese are expatriates in Africa or those who work in Arab countries.”

As Lebanon sinks into crisis, fear of crime grows

Details

lebanon

by reuters -- Vincent al-Boustani’s local council, in a small town north of Lebanon’s capital, runs a tight ship: staff and volunteers conduct 24/7 patrols, cameras monitor the streets and motorcycles are banned after 9pm. Boustani believes this is the best way to offer security as the economy crumbles, people become poorer and fear of crime increases. “The need for money, for food, I believe things will get even worse. I hope I’m wrong,” he said. “That’s why we must remain alert, aware of the danger...We’re going towards the unknown.” A financial crisis that has swept Lebanon since last year means more and more families have little means to cope as the currency collapses and the state offers little or no help. The country faces what is seen as the biggest threat to its stability since the 1975-1990 civil war.

In the first four months of 2020, murders in Lebanon doubled from the same period last year. Car thefts jumped nearly 50% and burglaries 20%, according to a report by the Beirut-based research firm Information International, based on police data. As the currency plunges, more unrest is feared in a country with a tumultuous history and where sectarian tensions are never far from the surface. The prices of imported foods upon which Lebanese depend have been driven up by a 70% decline in the Lebanese pound’s value since October. A World Food Programme report this month found that 50% of Lebanese, as well as 63% of Palestinians and 75% of Syrians in the country, had feared they would not have enough to eat over the past month.

Detained Lebanese woman accused of dealing with Israel

Details

Lebanese activist Kinda el-Khatib arrested and accused of 'spying for Israel' amid crackdown on speech

Kinda el-Khatib poursuivie pour collaboration avec Israël

by alaraby.co.uk -- The whereabouts of activist Kinda el-Khatib and her brother Bandar are still unknown after she was arrested by Lebanese state security for publishing comments on social media. It is believed that she was arrested because of a tweet that criticised President Michel Aoun, however security sources revealed that her arrest was based on suspicions that she was allegedly spying for Israel and entering Palestinian territories. A campaign was launched on social media accusing her of being an Israeli agent, and of opposing Hezbollah on social media. A security source told Al-Akhbar that Kinda’s arrest was based on “evidence from the General Security that proves her involvement in contact with people inside Israel,” and accused her of “providing information to the Israelis” as well as entering Israel during a trip to Jordan. The authorities have refused to provide further information about the allegations, and her whereabouts remain unknown. While her brother was released, Kinda remains in the authority’s custody.

Her family are convinced that “her file was ready before her arrest” and insist Kinda’s Twitter account was hacked and her opposition to Hezbollah was also fabricated. Kinda is not the first activist to be arrested by Lebanese authorities. An increasing number of activists in Lebanon are being arrested for social media posts criticising the government’s handling of the weakening economy, the currency crash and its handling of the coronavirus outbreak. According to Kinda’s sister Yasmine, the 23-year-old is currently completing her Masters studies in English literature at the Deanship of the Lebanese University in Beirut, and she is active on social media. She worked as a translator for a period of time with the "International Society for Parliamentary Elections" in the year 2018. The family are planning to get a lawyer to help with Kinda’s release. They have not been able to communite with her since her arrest. "There is complete ambiguity about her file, and they did not allow us to communicate with her, except for the moment she was transferred via the military police in Beirut,” her sister told Al Modon.

Lebanese fintech NymCard moves headquarters to Abu Dhabi to tap into growing regional fintech ecosystem

Details

by menabytes.com -- NymCard, a cloud-based card issuing and processing platform that was founded in Beirut in 2018 has relocated its headquarters to Abu Dhabi, it announced in a statement to MENAbytes, saying that move is aimed to support its regional expansion plans. The startup that allows financial institutions, banks, and fintechs to build virtual card programs for their customers, will continue to operate its Beirut office to serve their clients in Levant. Omar Onsi, the founder and CEO of NymCard in a statement, said, “Abu Dhabi has all the makings of a great fintech ecosystem and we’re very excited to be a part of it. Our headquarters in Abu Dhabi brings us closer to our customers, tech startups, and payment innovators looking for different types of modern payment solutions.” “We’re very honored to have been selected by Hub71 and are grateful to their team for the support they’ve extended to us for relocating our regional operations to Abu Dhabi,” he added.

Israeli jets fly over Beirut at low altitude

Details

The Daily Star BEIRUT -- : Israeli warplanes were seen flying over Beirut at unusually low altitudes Sunday, while also performing mock raids across other areas of the country in yet another violation of Lebanese airspace. Aside from the capital, the aircraft were reported to have also been spotted flying over Sidon, Hasbaya, Aarqoub, Jabal al-Sheikh, Shebaa farms, Metn, Keserouan, Nabatieh, and Tyre’s Palestinian refugee camps as well as other areas of the south, according to the state-run National News Agency. Although this has become commonplace in recent months, many took to social media to remark on how much louder and longer in duration it appeared to be than usual. "Just another Sunday afternoon in Beirut enjoying the sound of Israeli fighter jets," one Twitter user said.

Elissa celebrates World Father’s Day by dedicating her song ‘Zakaria’ to her dad

Details

File - Elissa.

By: Egypt Today staff -- CAIRO – June 2020: Lebanese megastar Elissa shared her song "Zakaria" on her official Twitter account and dedicated it to her dad. "For the love of my dad," tweeted Elissa. The famed Lebanese singer previously announced via her official Twitter account that she will release her upcoming album very soon. Elissa's album was delayed because of the spread of coronavirus. Elissa gave a dazzling performance in her latest online concert which took place on June 4. During the successful concert, Elissa’s fans launched the hashtag "Mekamleen Ma’a Elissa" (We will Continue with Elissa) and the hashtag trended in number 4 in Egypt. The fans interacted with her during the performance dubbing her the Queen, the charming, the icon and the legend. The concert was organised by Saudi Arabia’s General Authority for Entertainment.

Elissa's latest song "Ahwet El-Madi" (The Coffee of the Past) achieved huge success, amassing over 1 million views on YouTube. The song is written by Seham Sho'aa, composed by Mohamed Rahim and distributed by Kameel Khoury. The famed Lebanese star released her song "Hangany Kaman w Kaman" (We will sing again and again) on April 11. The heartthrob singer performed in Alexandria on December 12. This concert was Elissa's first in Egypt after her previous decision to quit singing. Later, she performed a massive concert in Dubai on February 14.