Falling oil prices hurt Lebanese economy too says Salameh

You would think that Lebanon would  benefit  greatly from the falling oil prices  , since  it  import all its  needs , but not according to  Central Bank Governor Riad Salameh. According to him  falling oil prices reduce the remittances Lebanon  receives from  the Lebanese people who work  in the Arabian Gulf countries . Salameh  said the bank is introducing measures […]

Assad regime cuts subsidies as Syria’s GDP falls to half prewar level

Syria’s economy is in a tailspin, and the regime of President Bashar al-Assad is increasingly struggling to find resources to quash the four-year-old rebellion, analysts say. The government has had to scale back subsidies for citizens for goods ranging from water to heating oil over the last six months. That has angered Syrians, who already […]

Moscow accuses West of seeking ‘regime change’ in Russia

Russian Foreign Minister Sergei Lavrov accused the West on Saturday of trying to use sanctions imposed on Moscow in the Ukraine crisis to seek “regime change” in Russia. His comments stepped up Moscow’s war of words with the United States and the European Union in their worst diplomatic standoff since the Cold War ended. “As […]

Putin can’t afford a new Cold War , analysis

by Geoffrey Smith One of the axioms of global geopolitics is that a country can project power only as far as its economic might allows. There is good reason why the United States, by far the world’s largest economy, has been the dominant force in all things political and military for the past 60 years. […]

Iran’s currency drops sharply to an all-time low

Iran’s currency plummeted to an all-time low on Saturday, registering a more than 21-percent drop in a span of two weeks against the U.S. dollar, currency tracking websites and money changers said. The rial was traded at between 39,000 and 40,000 per dollar on the open market on Saturday, down from about 33,000 two weeks […]

Syria Now Fully a War Economy, report

As the conflict in Syria continues, with the United Nations reporting a dramatic increase in the numbers of refugees fleeing the country, Syria’s economy, too, is a victim of the violence. And its chances of recovery are looking slim. “Syria is now fully a war economy that displays all the features of a country in […]