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Shea Says U.S. to Help Lebanon Get Electricity from Jordan, Gas from Egypt

Hours after Hizbullah chief Sayyed Hassan Nasrallah announced that a ship carrying diesel from Iran to Lebanon would arrive within hours, President Michel Aoun's office announced that U.S. Ambassador to Lebanon Dorothy Shea told him the United States would help Lebanon get electricity from Jordan and facilitate the flow of Egyptian gas through Jordan and Syria to northern Lebanon.

Shea told Aoun that negotiations are ongoing with the World Bank to pay for Egyptian gas and to fix cables and pipelines that will be used, according to the statement.

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Japan's Imports, Exports Grow on Overseas Economic Rebound

Japan's exports in July jumped 37% from a year ago, the government said Wednesday, highlighting an overseas recovery from the coronavirus pandemic.

Imports also grew, rising 28.5%, according to Finance Ministry data, for the second straight month of a trade surplus for the world's third largest economy.

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Multi-Billion-Dollar Reconstruction Projects Await in Post-War Libya

A decade after Libya descended into chaos, a host of countries are eyeing potential multi-billion-dollar infrastructure projects in the oil-rich nation if stability is assured.

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Spain Gets First Tranche of EU Virus Recovery Funds

Spain said Tuesday it had received its first tranche of funds amounting to 9 billion euros from the European Union's multi-billion-euro coronavirus fund.

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U.S. Retail Sales Drop 1.1% in July as Car Purchases Fall

Purchases of vehicles plunged in July, sending U.S. retail sales down a surprising 1.1 percent, the government reported Tuesday, a far bigger drop than analysts were expecting.

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Millennial Money: 3 Things to Do Before You Buy Crypto

Millennial Money: 3 things to do before you buy crypto

By SARA RATHNER of NerdWallet undefined

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Agreement Reached on Keeping Fuel Subsidies until Ration Card Approval

The Public Works Parliamentary Committee, the caretaker ministers of energy and finance, Electricite du Liban, the private oil companies and the state-run oil facilities held a meeting Tuesday in the presence of a central bank representative, al-Jadeed TV said.

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Army Deploys at Pumps as Salameh Firm on Ending Fuel Subsidies

The army has seized fuel from gas stations to curb hoarding amid crippling shortages, as the central bank chief stood firm on his decision to scrap fuel subsidies.

Lebanon is grappling with a financial crisis branded by the World Bank as one of the planet's worst since the 1850s.

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'Nothing Left': In Crisis-Hit Lebanon Bread Too is Scarce

Michael Hamati emerged from a long queue at a Beirut bakery sweat dripping from his forehead, as Lebanon's economic collapse sparks increasing shortages including over bread.

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Officials Meet as Fuel Shortage, Power Cuts Paralyze Lebanon

Severe fuel shortages and wide power cuts have paralyzed Lebanon, with some businesses temporarily closing down as top security officials met to discuss the situation.

Lebanon has for decades suffered electricity cuts, partly because of widespread corruption and mismanagement. The Mediterranean nation of 6 million, including 1 million Syrian refugees is near bankruptcy.

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