Source: Express
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
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
A company of Lebanese soldiers assigned to maintain order in this anxious wartime capital is gathered at its headquarters 100 yards from the Mediterranean. I make the blunder of asking their commander how many of his men are Shiites, Sunnis, Christians and Druze.
Monday, November 4, 2024
“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
FC Barcelona is concerned that one of its main first-team stars will be banned from playing at the turn of 2025 because of issues related to his registration and Financial Fair Play (FFP) limits according to SPORT, which cited anonymous sources.
Friday, November 1, 2024
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
Monday 9 September 2024 16:30:31
One country's currency has crashed so much that just one US dollar can now purchase 89,578 of its pounds. Experts say the Lebanese Pound is the weakest currency in the world "by some margin" as it tops a hall of shame of the world's worst performing.
Andrew Michael, an expert at Forbes Advisor, said in a report on the worst performers: "The Lebanese pound is currently, by some margin, the weakest currency in the world when measured against the US dollar.
"One Lebanese pound buys $0.000011. Put another way, this means that $1 is worth 89,578 Lebanese pounds." Lebanon's economy is service-based, but the country also exports food and drinks, metals, some chemicals and precious stones.
But, bordering the Mediterranean Sea, as well as Israel and Syria, its economy has been affected harshly by the wars in Syria and more recently Gaza.
Next worst performing currency is the Iranian rial, currently worth $0.000024. Just $1 would buy 42,087 Iranian rials.
The currency emerged in the late 1700s and has been relatively static against the US Dollar for several years. Iran is a key exporter of oil and natural gas, but economic sanctions, largely from the US, have put huge pressure on its economy.
The report was compiled for those considering in investing in weaker economies, which can potentially make significant amounts if there is a rise in its value.
But, it is a risky tactic as they could remain low or even plummet further. The US dollar is the world’s most traded currency, but not the strongest, which is currently seen as the Kuwaiti dinar.
Third worst performing currency is the Vietnamese dong as each unit can only buy $0.000039. Just $1 could buy 25,442 Vietnamese dong.
It is a service led industry with electronics, energy and textiles key industries. It has been hit hard by rising interest rates in the US, restrictions on foreign exports and a slowdown in exports.
Another south-east Asian currency, the Laotian kip, is in at number four. Around since the 1950s, 1 kip is equivalent to $0.000046, so $1 is worth 21,705 kip.
Land-locked Laos relies on exports of copper, gold and timber but has slow economic growth, high inflation and rising debt.
Sierra Leone has had a currency called leone since 1964 and one unit of it gets $0.000048. So, $1 is the equivalent of 20,969 leone.
It's key exports are timber and minerals such as diamonds and gold plus industrial metals. High inflation and debt plus slow economic growth since the Ebola outbreak have kept it struggling.
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