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Turkish Firm Resumes Supplying Lebanon with Power

Turkish company Karpowership on Tuesday announced that it has decided to resume supplying Lebanon with electricity from its two power ships Fatmagul Sultan and Orhan Bey.

Noting that the move will take effect today, Tuesday, the firm said its decision comes as a “goodwill gesture” as it “looks forward to a constructive dialogue with the Lebanese state in order to find solutions for the pending issues within the coming days and weeks.”

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Americans Apologize to Tokyo Court for Role in Ghosn Escape

Two Americans charged in Japan with helping Nissan's former chairman, Carlos Ghosn, jump bail and escape Japan for Lebanon apologized Tuesday in a Tokyo court.

"I deeply regret my actions and sincerely apologize for causing difficulties for the judicial process and for the Japanese people. I'm sorry," Michael Taylor, a former Green Beret said, bowing and holding back sobs.

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Lebanon Hikes Fuel Prices to Shore Up Forex Reserves

Lebanon hiked fuel prices by more than 30 percent Tuesday as it reduced subsidies that have eaten away at the central bank's foreign currency reserves amid a painful economic crisis.

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U.S. Stocks Mixed ahead of Key Economic Reports

Wall Street stocks were mixed early Monday ahead of key economic data this week updating the state of the U.S. economic recovery from the coronavirus downturn. 

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Russian Team in Lebanon to Study Rebuilding Destroyed Silos

A Russian business delegation met Lebanese officials on Monday to discuss plans to rebuild the grain silos destroyed last year in a massive explosion at Beirut's port, a Lebanese Cabinet minister said.

The visit by the Russian team -- including officials from Russia's Hydro Engineering and Construction company -- comes as Lebanon is going through the worst economic and financial crisis in its modern history.

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Aoun Asks Ministers, Administrations to Curb Fuel Crisis

President Michel Aoun has been following up since early morning on “the developments of the fuel crisis in the country” and the “suffering of citizens at gas stations,” the Presidency said on Monday.

To that end, Aoun held a series of calls with caretaker Energy Minister Raymond Ghajar and the relevant administrations at the Ministry, calling for “swift and firm measures to contribute to alleviating the fabricated crisis and ending the exploitation of citizens,” the Presidency added in a statement.

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European Bank Chief Eyes Transition as World Recovers

Odile Renaud-Basso, the first female president at Europe's development bank, hopes to restore the EBRD's green investment targets while addressing workplace equality as Covid-hit economies recover.

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Iran Embassy Hits Back at Shea over Oil Ships

The Iranian embassy in Lebanon on Saturday lashed out at U.S. Ambassador to Lebanon Dorothy Shea over remarks related to Hizbullah chief Sayyed Hassan Nasrallah's call for buying fuel from Iran.

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Protests Continue, Shops Close as Lira Hits Record Lows

Road-blocking protests continued Saturday in Lebanon and several shops closed in the northern city of Tripoli as the Lebanese lira plummeted to unprecedented lows.

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White House, Lawmakers Strike Deal on Infrastructure

U.S. President Joe Biden announced Thursday he has reached a deal with a bipartisan group of senators to rebuild the nation's infrastructure, likely unlocking the most funding for roads, bridges and ports in decades.

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