Iraq will provide cash-strapped Lebanon with fuel in a deal that will help to increase power supply in coming months, Lebanese Energy Minister Raymond Ghajar said on Saturday.
He was speaking on his return from Baghdad where he signed a one-year agreement to purchase one million tonnes of Iraqi fuel, to be paid for in Lebanese pounds. Iraq will spend the sum on Lebanese services, Mr Ghajar said.
Lebanon, on the other hand, will swap Iraqi heavy fuel oil with spot cargoes of fuel suitable to run the country’s power plants.
“At peak [power] production, the deal will ensure the provision of electricity for four months,” , Mr Ghajar told reporters at Beirut airport.
“We hope other Arab countries follow suit and give us this opportunity because it is really a golden opportunity for us,” he said.
The deal with Iraq will enable the state-owned power company, Electricite du Liban, to increase its power supply from the current level of less than two hours daily in many parts of the country once new spot cargoes are purchased and delivered, Mr Ghajar said.
Two weeks ago, EDL had to temporarily shut down two plants after running out of fuel. The plants provide up to 60 per cent of the country’s electricity.
Lebanon’s decades-old power woes have intensified in recent months over shortages of diesel and other fuel. The central bank has reduced its subsidies of oil imports because of falling foreign currency reserves.
Electricity supply has been unreliable in Lebanon since the end of the 15-year civil war in 1990. Since then, EDL has sold power at a loss. The country’s energy troubles have been compounded by the smuggling to neighbouring Syria of diesel used to run private generators that compensate for state power rationing.
Acute shortages in diesel recently forced private generators to cut their power supply, plunging many areas across the country into hours-long daily blackouts that threatened to shut down hospitals among other vital facilities and businesses.
Bakeries in some parts of Lebanon have shut down their ovens. Supermarkets said the lack of power impedes their ability to preserve perishable food.
The cuts have sparked demonstrations and several attempts by protesters to hijack diesel deliveries in the Bekaa area and the northern region of Akkar, prompting the army to intervene to secure shipments.
On Friday, generator operators said they would have to stop operating because of shortage of diesel and the high price of fuel on the black market.
The worsening power cuts have caused frequent internet failures and disruption of water supplies. Unicef issued a warning that more than four million people in Lebanon could lose access to affordable clean water within weeks.
More than half of the population has fallen below the poverty line since late 2019, when the country was hit by its worst economic and financial crisis in decades. The crisis led to the collapse of the national currency, which has lost more than 90 per cent of its market value against the dollar.
The financial meltdown has been exacerbated by political paralysis. Politicians have been unable to agree on the formation of a new government almost a year after the previous one resigned following the massive explosion that hit Beirut port and killed more than 200 people in the capital.
The blast, which wounded and displaced thousands of people, caused property damage in the billions of dollars. Eleven months later, it is not known what triggered the blast or who was responsible for the storage of hundreds of tonnes of ammonium nitrate at the port with the knowledge of the country’s top officials and security chiefs.
The international community, which has provided direct aid to vulnerable communities, has said financial support for the country hinges on the formation of a Cabinet that commits to the introduction of reforms.
President Michel Aoun is expected to hold binding parliamentary consultations on Monday to nominate a new prime minister in place of Saad Hariri. Mr Hariri, who has held the post twice previously, abandoned efforts to form a Cabinet earlier this month after nine months of bickering with the president over its makeup.
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
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
The biog
Age: 59
From: Giza Governorate, Egypt
Family: A daughter, two sons and wife
Favourite tree: Ghaf
Runner up favourite tree: Frankincense
Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”
FIGHT CARD
Sara El Bakkali v Anisha Kadka (Lightweight, female)
Mohammed Adil Al Debi v Moaz Abdelgawad (Bantamweight)
Amir Boureslan v Mahmoud Zanouny (Welterweight)
Abrorbek Madaminbekov v Mohammed Al Katheeri (Featherweight)
Ibrahem Bilal v Emad Arafa (Super featherweight)
Ahmed Abdolaziz v Imad Essassi (Middleweight)
Milena Martinou v Ilham Bourakkadi (Bantamweight, female)
Noureddine El Agouti v Mohamed Mardi (Welterweight)
Nabil Ouach v Ymad Atrous (Middleweight)
Nouredin Samir v Zainalabid Dadachev (Lightweight)
Marlon Ribeiro v Mehdi Oubahammou (Welterweight)
Brad Stanton v Mohamed El Boukhari (Super welterweight
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
UAE currency: the story behind the money in your pockets
Brief scores:
Toss: Australia, chose to bat
Australia: 272-9 (50 ov)
Khawaja 100, Handscomb 52; Bhuvneshwar 3-48
India: 237 (50 ov)
Rohit 56, Bhuvneshwar 46; Zampa 3-46
Player of the Match: Usman Khawaja (Australia)
Player of the Series: Usman Khawaja (Australia)
Read more from Aya Iskandarani
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Scoreline
Saudi Arabia 1-0 Japan
Saudi Arabia Al Muwallad 63’
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now