City Beirut Financial News

Since Israel began bombarding Beirut’s southern suburbs as part of its offensive against militants, Lebanon’s national air carrier has become a local icon simply by continuing to do its job

Hezbollah claimed responsibility Tuesday for a drone attack last week targeting the home of Israeli Prime Minister Benjamin Netanyahu, and acknowledged that some of its fighters have been take captive by the Israeli army. Hezbollah spokesman Mohammed Afif made the remarks during a press conference in Beirut's southern suburbs that was cut short following an Israeli evacuation warning for the area. An Israeli strike hit a target hundreds of metres (yards) away from the site of the conference just minutes after journalists left, an AFP video journalist said.

Israeli army said Monday that the latest commander responsible for funding the Lebanese Hezbollah group was «eliminated» in Syria. The man, whose name was not released, headed the Iran-backed Hezbollah's Unit 4400 that is «responsible for the transfers and the amount of funds» to the group through Tehran's oil sales, army spokesman Rear Admiral Daniel Hagari said in a statement. The commander was «eliminated» in Syria «a few hours ago», he added.

Antony Blinken headed to the Middle East on Monday to launch another push for an elusive ceasefire, seeking to revive negotiations to end the Gaza war and defuse the spillover conflict in Lebanon. Blinken's trip to the region is his 11th since the attack on Israel by the Palestinian militant group Hamas on Oct. 7, 2023, that triggered the Gaza war. It comes as Israel intensifies its military campaign against Iran-backed militants — Hamas in the Gaza Strip and Hezbollah in Lebanon. Israel carried out several strikes in Beirut's southern suburbs on Monday, including one near the Rafik Hariri University Hospital, the capital's main government hospital. Four people were killed, including a child, and 24 others were wounded, the health ministry said.

The Israeli military has carried out a wave of airstrikes targeting branches of a financial institution affiliated with Lebanon’s Hezbollah, saying the quasi-banking system is being used to fund the militant group’s military wing

Hezbollah’s deputy secretary general, Naim Qassem, has reportedly fled crisis-stricken Lebanon and is now residing in Tehran, according to local media sources. The move, reportedly ordered by Iranian leaders, is seen as a precautionary measure amidst rising concerns for Qassem’s safety, as he is believed to be a potential target of an Israeli assassination.

air strikes targeted south Beirut on Sunday after the Israeli army warned civilians to evacuate the stronghold of Lebanon's Hezbollah movement, state media said. The reported strikes came after Israeli Prime Minister Benjamin Netanyahu accused the Iran-backed Hezbollah movement of trying to assassinate him by attacking his residence. «Enemy (Israeli) airplanes carried out two strikes this morning on Beirut's southern suburbs, one of them hitting a residential building in Haret Hreik» near a mosque and a hospital, the National News Agency reported.

Israel scale back some of its strikes in and around the Lebanese capital of Beirut, U.S. Defense Secretary Lloyd Austin said on Saturday, adding the number of civilian casualties was «far too high.» Austin's comments came hours after Israel carried out heavy strikes on several locations in the city's southern suburbs, leaving thick plumes of smoke wafting over the city horizon throughout the evening. Israel said it struck arms facilities belonging to Lebanese armed group Hezbollah. Tens of thousands of people have fled the southern suburbs — once a densely populated zone that also housed Hezbollah offices and underground installations — since Israel began regular strikes there about three weeks ago.

Israel's promised retaliation for a missile attack earlier this month, Iran has balanced threats of a fierce response to any Israeli attack with diplomatic efforts to prevent escalation into all-out regional war. Iran launched 200 missiles at its arch-foe on October 1 in response to an Israeli strike that killed Iranian general Abbas Nilforoushan and Hezbollah chief Hassan Nasrallah in Beirut late last month. The missile barrage was also in retaliation for Hamas chief Ismail Haniyeh, who was killed in Tehran in July in an attack widely blamed on Israel.

Subscribe to enjoy similar stories. Israel expanded its offensive in Lebanon, sending more troops to conduct ground operations along the countries’ shared border and warning people to stay away from the coast of southern Lebanon ahead of a maritime operation. The additional Israeli forces are being added as the military expands its operations from the eastern part of the border to the west.

Iran's supreme leader has decorated the Revolutionary Guards aerospace commander for the Islamic republic's missile attacks on arch-foe Israel, Ayatollah Ali Khamenei's website said on Sunday. «Ayatollah Khamenei presented the Order of Fath (»Conquest" in Farsi) to General Amirali Hajizadeh, commander of the Guards Aerospace Force," it said. The decoration was bestowed because of «the brilliant 'Honest Promise' operation», the website said.

Hezbollah in Lebanon overnight and was assessing the damage on Friday after a series of strikes on senior figures in the group that Iran's Supreme Leader dismissed as counterproductive. The air attack on Beirut, part of a wide assault that has driven more than 1.2 million Lebanese from their homes, was reported to have targeted the potential successor to the leader of Hezbollah assassinated by Israel a week ago. Hashem Safieddine's fate was unclear and neither Israel nor Hezbollah have offered any comment.

oil prices headed for their sharpest weekly gain in more than a year, as escalating tensions in the Middle East kept markets on edge ahead of a U.S. jobs report later in the day. U.S. President Joe Biden said on Thursday that the U.S. is discussing strikes on Iran's oil facilities as retaliation for Tehran's missile attack on Israel, while Israel's military hit Beirut with new air strikes in its battle against Lebanese armed group Hezbollah.

southern Lebanon that are north of a UN-declared buffer zone, signaling that it may widen a ground operation launched earlier this week against the Hezbollah militant group. Israel has told people to leave Nabatieh, a provincial capital, and other communities north of the Litani River, which formed the northern edge of the border zone established by the UN Security Council after the 2006 war in a resolution that both sides accuse the other of violating. At least eight Israeli soldiers have been killed in clashes with Hezbollah in southern Lebanon, where Israel announced the start of what it says is a limited ground incursion earlier this week. The region was meanwhile bracing for Israeli retaliation following an Iranian ballistic missile attack.

geopolitical tensions in the Middle East. Several Gulf carriers have altered their routes to prioritise passenger safety, while neighbouring countries in the region have closed their airspace, forcing airlines to navigate alternative routes to avoid the escalating conflict. The Indian government on Wednesday issued a travel advisory urging its nationals to avoid non-essential travel to Iran. “We are closely monitoring the recent escalation in security situation in the region. Those currently residing in Iran are requested to remain vigilant and stay in contact with the Indian Embassy in Tehran,” read the advisory.

Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

Subscribe to enjoy similar stories. The latest strikes by Iran on Israel must be viewed beyond the lens of a simple military offensive. Any attempts to contain a more belligerent Iran will also require the US to exert greater influence over Israel's actions.

Subscribe to enjoy similar stories. The public squares and beaches of Beirut are crammed with people who have been displaced from the south of Lebanon and the city’s southern suburbs. The lucky ones have mattresses and blankets to sleep on.

Earlier, Lebanese citizens held a silent protest in Beirut, carrying national flags to express their defiance. Their message was clear: «Lebanon will remain Lebanon,» with or without Hezbollah. Despite the ongoing fear of Hezbollah’s influence, these protests signaled a growing sentiment against the militant group.

Hezbollah leader Hassan Nasrallah, who was then tracked down, spied upon, and then ultimately killed by Israeli agencies, reveal reports. This comes in after the pager and walkie-talkie blasts in parts of the Middle East, which saw hundreds of Hezbollah's top officials get injured, with multiple deaths of some of the Hezbollah's premier brackets.

Seyed Abbas Araghchi has called for an emergency meeting of the Organization of Islamic Cooperation (OIC) in response to recent Israeli attacks. According to a statement released by Iran's foreign ministry on Sunday, Araghchi made the appeal during a meeting with OIC Secretary General Hissein Brahim Taha in New York on Saturday. As per the official statement, Araghchi emphasised the responsibility of Muslim nations to respond to what he described as the «inhumane crimes» committed by Israel in Palestine and Lebanon. He condemned the recent Israeli airstrikes on Beirut, particularly those targeting densely populated areas with large bunker buster bombs, labelling them as crimes against humanity. He also criticised the inaction of international bodies like the UN Security Council and highlighted the political and military support Israel receives from the United States.