Source: Reuters
Security & Justice
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Gaps in Coastal Radar Enabled Israeli Raid in Batroun, Army Commander Says
Lebanon’s army chief, General Joseph Aoun, detailed to Caretaker Prime Minister Najib Mikati how Israeli forces likely exploited gaps in the country's coastal radar system during the recent raid carried out in Batroun. The briefing comes as Lebanese officials seek answers on how Israel’s elite Shayetet 13 unit carried out the landing undetected.
Monday, November 4, 2024
Opinion
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
A Future Without Hezbollah
At the end of September, when Israel’s campaign to destroy Hezbollah was reaching its height, I met one of the group’s supporters in a seaside café in western Beirut. He was a middle-aged man with a thin white beard and the spent look of someone who had not slept for days. He was an academic of sorts, not a fighter, but his ties to Hezbollah were deep and long-standing.
Thursday, October 31, 2024
Sports
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Real Madrid Launch Investigation into Racist Insults After El Clasico Defeat
Real Madrid has launched an investigation into racist insults directed at players during Saturday’s 4-0 home loss to Barcelona in LaLiga, it said on Sunday.
Monday, October 28, 2024
Wednesday 31 May 2023 11:39:59
Lira Hits Record Low as Turkey Prepares for New Cabinet
Turkey's lira tumbled on Wednesday to a fresh record low against the dollar as President Recep Tayyip Erdogan prepared to decide the shape of his new cabinet and the direction of economic policy after an election triumph.
In its third successive day of losses, the lira weakened nearly 1.5 percent to a record of 20.75 against the US currency, taking its losses this year to nearly 10 percent.
Investors have been concerned about the sustainability of Turkey's unorthodox economic policies as it followed a low-rate program championed by Erdogan.
The focus is now on whom he will appoint to top economic policymaking roles and if there will be a course change towards economic orthodoxy.
A meeting this week between Erdogan and Mehmet Simsek, a former economy chief respected by investors for his orthodox policy credentials, fueled speculation over a possible pivot to more conventional policies.
"I don't know whether he will be the new finance minister or not, but any credible name is important to give a signal to the market that there will be change. Action speaks more than intention," said Cagri Kutman of KNG Securities.
"If you have Mehmet Simsek or a similar person in charge that is a big move. But then the market will be curious about the first move of the economic team — will there be more orthodox policies or will they do something worse or will they do something to buy time and see how it goes?"
First-quarter economic growth stayed buoyant despite the impact of southern earthquakes, high inflation and a cost of living crisis.
Turkey's economy expanded 4.0 percent in the first quarter of the year, just above expectations, official data showed on Wednesday, despite the impact of February's earthquakes that killed more than 50,000 and left millions homeless.
First-quarter gross domestic product (GDP) grew 0.3 percent from the previous quarter on a seasonally and calendar-adjusted basis, data from the Turkish Statistical Institute showed.
A Reuters poll forecast the economy to have expanded 3.9 percent in the first quarter, with growth of 2.8 percent in 2023.
