Lebanon's politicians have approved the 2022 budget after a day of protests outside the Parliament building.
Agreement on the budget is one of the key conditions set by the International Monetary Fund for a bailout.
Legislators on Monday approved the budget with 63 votes in favour and 37 opposed.
The budget sets expenditure at 41 trillion pounds (about $1.2 billion under black market exchange rates), while revenues were projected at £30tn.
Retired military personnel clashed with security troops outside the parliament in Beirut on Monday, during a protest against the draft 2022 budget and their financial situation.
Dozens of demonstrators broke through a security barrier on a road that leads up to the Parliament, where the budget was being discussed.
But they were pushed back by soldiers in riot gear, who used tear gas.
Some of the retired military personnel wore military fatigues or the berets of their old units.
Parliament had been due to discuss the draft budget 10 days ago, but the session was suspended because of the lack of a quorum.
MPs approved the draft budget late on Monday, which tripled salaries for all public sector workers, including the security forces.
The adoption of an annual budget is one of a handful of reforms that the IMF has demanded if it is to unlock a $3bn aid package that would help to bail out Lebanon.
In passing the budget, MPs approved the use of an exchange rate for customs tax revenues that is significantly below the market value of the Lebanese currency.
But it falls short of an IMF demand that customs taxes be calculated at a "unified exchange rate".
Parliament endorsed a rate of 15,000 pounds to the US dollar, but on Monday the Lebanese pound was trading at about 36,000.
Lebanon is suffering a severe economic collapse that became apparent in 2019, and has been described by the World Bank as one of the worst in modern history.
The local currency has dropped in value by more than 90 per cent and many people have been plunged into poverty.
There are also widespread shortages of medicine, bread, water, electricity and other basic essentials.
The draft law has been criticised by some who say it contains no amendments for a reform of the financial sector and is not accompanied by a rescue plan to bring Lebanon out of the crisis.
An IMF delegation visiting Lebanon last week lamented the slow progress of the country's economic reform, despite a staff-level agreement this year.
“The Lebanese economy remains severely depressed against continued deadlock over much-needed economic reforms and high uncertainty," said Ernesto Ramirez Rigo, who led the mission.
Banks in Lebanon partially reopened on Monday after a week-long closure that came after branches were recently held up by depositors seeking access to their trapped savings.
But many branches remained shut, while some allowed customers in only by appointment. Only a handful are allowing walk-ins.
The Association of Banks in Lebanon said on Sunday that banks would reopen, but only in a limited capacity to businesses, educational institutions and hospitals. Many have increased their security.
ATMs will be available "for everyone else", to allow public and private institutions to transfer salaries, they said.
Since 2019, banks have imposed informal capital controls, severely restricting access to hard currency and compounding the economic difficulties faced by people in Lebanon amid the financial collapse.
This month, seven banks were stormed in a week — including five in one day — with depositors taking matters into their own hands in an attempt to unlock frozen life savings.
As a result, banks announced an initial three-day closure beginning last Monday because of fears for the safety of employees and customers.
It was extended indefinitely on Wednesday. In justifying the shutdown extension, the ABL said bank employers and customers were facing continued risks.
It also pointed to an “absence of any procedures or even assurances” from the government and security forces that would ensure a safe working environment.
A banking source told The National on Sunday that each bank will be in charge of its own security.
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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THE BIO
Favourite car: Koenigsegg Agera RS or Renault Trezor concept car.
Favourite book: I Am Pilgrim by Terry Hayes or Red Notice by Bill Browder.
Biggest inspiration: My husband Nik. He really got me through a lot with his positivity.
Favourite holiday destination: Being at home in Australia, as I travel all over the world for work. It’s great to just hang out with my husband and family.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Credits
Produced by: Colour Yellow Productions and Eros Now
Director: Mudassar Aziz
Cast: Sonakshi Sinha, Jimmy Sheirgill, Jassi Gill, Piyush Mishra, Diana Penty, Aparshakti Khurrana
Star rating: 2.5/5
UAE currency: the story behind the money in your pockets
The five pillars of Islam
The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
THURSDAY'S ORDER OF PLAY
Centre Court
Starting at 10am:
Lucrezia Stefanini v Elena Rybakina (6)
Aryna Sabalenka (4) v Polona Hercog
Sofia Kenin (1) v Zhaoxuan Yan
Kristina Mladenovic v Garbine Muguruza (5)
Sorana Cirstea v Karolina Pliskova (3)
Jessica Pegula v Elina Svitolina (2)
Court 1
Starting at 10am:
Sara Sorribes Tormo v Nadia Podoroska
Marketa Vondrousova v Su-Wei Hsieh
Elise Mertens (7) v Alize Cornet
Tamara Zidansek v Jennifer Brady (11)
Heather Watson v Jodie Burrage
Vera Zvonareva v Amandine Hesse
Court 2
Starting at 10am:
Arantxa Rus v Xiyu Wang
Maria Kostyuk v Lucie Hradecka
Karolina Muchova v Danka Kovinic
Cori Gauff v Ulrikke Eikeri
Mona Barthel v Anastasia Gasanova
Court 3
Starting at 10am:
Kateryna Bondarenko v Yafan Wang
Aliaksandra Sasnovich v Anna Bondar
Bianca Turati v Yaroslava Shvedova
UAE currency: the story behind the money in your pockets
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
In numbers
- Number of children under five will fall from 681 million in 2017 to 401m in 2100
- Over-80s will rise from 141m in 2017 to 866m in 2100
- Nigeria will become the world’s second most populous country with 791m by 2100, behind India
- China will fall dramatically from a peak of 2.4 billion in 2024 to 732 million by 2100
- an average of 2.1 children per woman is required to sustain population growth
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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