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Showing posts with the label economic

Lebanon has been facing a dire crisis for quite some time, with its political and economic systems in a state of paralysis.

 The international community has been increasingly vocal in its concern for the country, with Lebanon's international backers warning that the current status quo is unsustainable and causing the state to become increasingly paralyzed. The situation in Lebanon has been deteriorating for years, with a failing economy, high unemployment rates, and political instability. The recent explosion in Beirut's port last year has only added to the country's troubles, causing widespread destruction and further exacerbating the economic crisis. Lebanon's international backers, including the United States, France, and other European countries, have expressed their deep concern about the situation and are calling for urgent action to address the paralyzed state and growing crisis. The international community has been providing humanitarian aid to Lebanon, but this aid is not enough to address the systemic problems the country is facing. The root causes of the crisis must be addressed ...

Saudi, UAE back OPEC cuts as US envoy warns of ‘uncertainty’

  While cordial, the comments at the Abu Dhabi International Petroleum Exhibition and Conference showed the stark divide between the United States and Gulf Arab countries it supports militarily in the wider Middle East. Already, American politicians have threatened arms deals with the kingdom and described it as siding with Russian President Vladimir Putin amid his war on Ukraine. Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, hinted at that in brief remarks at the event. “We don’t owe it to anybody but us,” the prince said to applause, noting that upcoming U.N. climate change summits will be held in Egypt and the United Arab Emirates. “It was done for us, by us, for our future, and we need to commit ourselves to that.”  “I can assure you that we in the United Arab Emirates, as well as our fellow colleagues in OPEC+ are keen on supplying the world with the requirement it needs,” al-Mazrouei said. “But at the same time, we’re not the only producers in the world.” ...