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EU widens sanctions on Iran over support for Russia

The European Union on Monday widened sanctions against Iran over its support for Russia's war on Ukraine, including targeting vessels and ports used to transfer drones and missiles.

The 27-nation bloc agreed to prohibit any transaction with ports "used for the transfer of Iranian UAVs or missiles or related technology and components to Russia," said a statement issued as EU foreign ministers met in Brussels.

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War costs Lebanon $5 billion in losses, damages 100,000 homes

More than a year of clashes that escalated into war in September have cost Lebanon more than $5 billion in economic losses and damaged nearly 100,000 housing units, the World Bank said Thursday.

The World Bank report provided estimates for damage between October 8, 2023, and October 27, 2024, saying "the conflict has caused $5.1 billion in economic losses" and that it "damaged an estimated 99,209 housing units" -- mainly in Lebanon's war-torn south.

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Israel announces $5.2 billion fighter jet deal with Boeing

Israel says it has reached an agreement to purchase 25 advanced F-15 fighter jets from U.S. aerospace giant Boeing for $5.2 billion.

The Defense Ministry said the agreement, concluded Wednesday, was part of a broader aid package approved by the U.S. government earlier this year. Deliveries will begin in 2031, and there’s an option for the purchase of an additional 25 aircraft.

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Iran's currency falls to all-time low as Trump clinches US presidency

Iran's currency fell on Wednesday to an all-time low as former President Donald Trump was on the verge of clinching the U.S. presidency again, signaling new challenges ahead for Tehran as it remains locked in the wars raging in the Middle East.

The rial traded at 703,000 rials to the dollar, traders in Tehran said. The rate could still change throughout the day. Iran's Central Bank could flood the market with more hard currencies as an attempt to improve the rate, as it has done in the past.

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'War ruined me': Lebanon's farmers mourn lost season

Lebanese farmer Abu Taleb briefly returned to his orchard last month to salvage an avocado harvest but ran away empty handed as soon as Israeli air raids began.

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Israeli Cabinet approves 2025 budget ramping up defense spending amid fighting in Gaza and Lebanon

Israel’s Cabinet on Friday passed a budget for 2025 Friday, Prime Minister Benjamin Netanyahu’s office said, ramping up defense spending amid the war in Gaza and Israel’s invasion of Lebanon.

The budget, which must still be approved by Israel’s parliament before taking effect, increased allotted defense spending to at least $27.2 billion, Israeli media reported, though that could increase to $40 billion pending further cabinet discussions.

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Former central bank governor Salameh faces new corruption charge

Lebanon charged the country's former central bank governor with illicit enrichment and issued an arrest warrant against the detained banker, the second in less than two months, judicial officials said Thursday.

Riad Salameh, 74, was charged by the first examining magistrate of Mount Lebanon Nicola Mansour over an apartment that was rented in France to be a substitute office for the central bank if needed, the four official said on condition of anonymity because they were not authorized to speak to the media.

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Germany's economy is stagnant and govt can't agree on a way forward

Germany's economy is struggling and the governing coalition has a lot of ideas on how to fix it. But it can't agree which the right one is.

The latest outbreak of infighting in Chancellor Olaf Scholz's government has raised questions about whether it will get anything done in the 11 months before Germany's next election is due — and whether it will survive until then.

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US economy believed to have grown at solid pace again last quarter

Powered by consumer spending, the U.S. economy likely kept expanding at a healthy pace from July through September despite the pressure of still-high interest rates.

The Commerce Department is expected to report Wednesday that the gross domestic product — the economy's total output of goods and services — grew at a 2.6% annual pace last quarter, according to a survey of forecasters by the data firm FactSet. That would be down from a 3% annual rate in the April-June period. But it would still amount to a solid pace as Americans ponder the state of the economy in the final stretch of the presidential race.

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Google ad change could affect millions of small businesses

Google is changing the way its Google Local Services ads work, which could affect millions of small businesses.

Google Local Services ads run locally and are a big way that small businesses market their goods and services. Ads appear on the top of Google search results.

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