Middle East Experience

Lebanon’s central bank said on Thursday it could not keep up its imports of subsidized medical goods without using its mandatory reserves and asked the relevant authorities to find a solution to the problem.Lebanon, which in the throes of a financial crisis that is threatening its stability, has been subsidizing fuel, wheat, medicine and other basic goods since last year.For the latest headlines, follow our Google News channel online or via the app.In a statement issued after caretaker health minister Hamad Hasan said he had visited the bank asking for the release of funds for essential medicines to no avail, the central bank said it would not dip into its mandatory reserves to cover the $1.3 billion cost of the subsidized medical supplies.“This total cost that is required from the central bank as a result of a policy to subsidize these medical items cannot be supplied without touching mandatory reserves and this is what the board of the central bank refuses,” it said.Lebanon’s hard currency reserves have dropped alarmingly from over $30 billion before the financial crisis hit in late 2019 to just over $15 billion in March.The wider subsidy program costs around $6 billion a year.Hasan had said on a local television program last week that around 50 percent of required medicines were available but in the warehouses of importers awaiting payment.Lebanon, which is in political paralysis, deeply indebted and struggling to raise funds from potential donor states and institutions, has said money for subsidies will run out in May.The design and implementation of its subsidy system, which included long lists of non-basic items, has been criticized as wasteful by traders and consumers.Read more:Lebanon will never regain sovereignty with Hezbollah’s current status: David HaleWorld Food Program boosts assistance in Lebanon as economic crisis deepensLebanon’s central bank announces new foreign exchange system
Source: Al Arabiya
Full Article: Lebanon’s central bank says not enough reserves for import of medical supplies

ITP Media titles Caterer Middle East and Time Out Dubai have joined forces to launch the Big, Fat, Tipping Survey
Source: Arabian Business
Full Article: Calling all F&B operators and staff: What happens to your tips?

Saudi Arabia has allowed the resumption of entertainment activities for individuals who are vaccinated against COVID-19, the General Entertainment Authority (GEA) announced on Thursday.Read the latest updates in our dedicated coronavirus section.“We, the General Entertainment Authority, announce the resumption of entertainment activities in accordance with the protocols established to ensure the safety of all,” Chairman of the Saudi Entertainment Authority Turki Alalshikh said in a tweet.Attendees will be required to present proof of vaccination using the Kingdom's official Tawakalna mobile application while entertainment venues will be allowed to operate at 40 percent capacity, according to a circular.Masks and social distancing will still be required regardless of vaccination. A minimum distance of 1.5 meters between individuals and those are not wearing a mask properly will not be allowed to enter entertainment venues, the authoritiy said.Event organizers will be required to apply for a permit through the GEA and ticket sales must be done online, as a precautionary measure against the spread of the virus.Read more:Hundreds of cars line up to enter Bahrain at King Fahd causeway as it reopensSaudi Arabia plans to reopen to foreign tourists soon, tourism official confirms
Source: Al Arabiya
Full Article: Saudi Arabia to resume entertainment activities for vaccinated individuals

The Palestinian Authority wants to handle the reconstruction of the Gaza Strip through international funds, which Hamas rejects.
Source: Al Monitor
Full Article: Gaza reconstruction deepens PA-Hamas dispute

Our exclusive in-person event at the JW Marriot Marquis in Dubai on May 31 will offer up insight on investing, real estate, crypto, online trading and the golden rules for growing your portfolio.
Source: Arabian Business
Full Article: Is it time to build your financial future? The AB Money Forum is back and here to help with a host of experts

Gazans were already suffering from water scarcity even before the Israel escalation that damaged most of the water plants and pipelines.
Source: Al Monitor
Full Article: Israeli campaign in Gaza worsens water crisis

Experts at the Middle East Tourism Investment Summit remain convinced about the actions needed by governments around the world
Source: Arabian Business
Full Article: Why travel passes, vaccines are key to the global tourism rebound

In cooperation with community associations and with masses of individual volunteers, the Gaza City municipality is leading a massive effort to clear the enclave of rubble left by the recent Israeli airstrikes.
Source: Al Monitor
Full Article: Volunteers clear rubble from Gaza's streets

Issam Kazim says many factors related to Expo 2020 visitor numbers are 'out of Dubai's control'
Source: Arabian Business
Full Article: Dubai tourism chief 'realistic' about Expo visitor numbers amid global uncertainty

Saudi Arabia reported 1,215 new COVID-19 cases over the past 24 hours, raising the total to 447,178, the Ministry of Health announced on Friday.Read the latest updates in our dedicated coronavirus section.Of the new cases, 345 were detected in the capital Riyadh while 324 were confirmed in the city of Mecca.Meanwhile, 1,161 people who had previously tested positive for the virus recovered, raising the total number of recoveries to 429,663.The death toll increased to 7,320 after 11 people died due to COVID-19 complications.Read more:Sinopharm vaccine: Chinese scientists publish world’s first report on clinical trialsUK approves single shot Johnson & Johnson coronavirus vaccineGreece ready to use COVID-19 travel certificate before July to save summer: PM
Source: Al Arabiya
Full Article: Saudi Arabia reports 1,215 new COVID-19 cases, 11 deaths in 24 hours