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With support from the Lebanon Trade and Investment Facilitation (TIF) activity, funded by the United States Agency for International Development (USAID), Toters -- the leading Lebanese marketplace, e-grocery, and delivery app -- raised $18 million in equity investment from international and local investors.

The TIF activity supported the investment readiness of Toters by providing valuation analysis, facilitating investor outreach, and conducting deep-dive market analysis. This USAID-supported transaction sets the stage for Toters’ growth plans and enables the company to scale operations and expand in local and regional markets, a statement issued by TIF said.

Full Story Comment 0 Tweet Report: Lebanon threatened with oil sanctions after Hezbollah's move by Naharnet Newsdesk 05 July 2022, 16:27

In the wake of Hezbollah’s launching of three drones towards the Karish offshore gas field, the United States warned Lebanon that it might face “deterring punitive measures” that might involve “slapping oil sanctions” on the country, media reports said on Tuesday.

“U.S. mediator Amos Hochstein openly cautioned Lebanese officials that such a step would torpedo the U.S. efforts and could subject the Lebanese investments in the oil and gas resources to the threat of sanctions, especially that it targeted a maritime area that is outside of Lebanon’s internationally-recognized border under the U.N. records,” diplomatic sources told the Nidaa al-Watan newspaper.

Full Story Comment 1 Tweet Euro hits 20-year low against dollar by Naharnet Newsdesk 05 July 2022, 12:02

The euro sank Tuesday to the lowest dollar level since 2002 as data pointed to growing recession risks in the eurozone.

Full Story Comment 0 Tweet Top NGO calls Switzerland 'safe haven' for Russian oligarchs by Naharnet Newsdesk 04 July 2022, 14:51

A leading Swiss nongovernmental group on Monday called out Switzerland as a "safe haven" for Russian oligarchs and as a trading hub for Russian oil, grain and coal.

Public Eye urged the Swiss executive branch to "use all levers at its disposal to stop the financing of this inhuman aggression," in a reference to Russian President Vladimir Putin's war in Ukraine that has killed thousands of people, driven millions from their homes, and rippled through world economy by driving up food and fuel prices.

Full Story Comment 1 Tweet Dutch farmers block entrances to supermarket warehouses by Naharnet Newsdesk 04 July 2022, 14:00

Dutch farmers angry at government plans to slash emissions used tractors and trucks Monday to blockade supermarket distribution centers, the latest actions in a summer of discontent in the country's lucrative agricultural sector.

The Netherlands' busiest aviation hub, Schiphol Airport, urged travelers to use public transport to get to its terminals amid fears that the blockades also would target airports. Fishermen acting out of solidarity with farmers also blocked a number of harbors.

Full Story Comment 0 Tweet Ghana seeks IMF support for ailing economy by Naharnet Newsdesk 01 July 2022, 17:26

Ghana said on Friday it was seeking International Monetary Fund (IMF) support for its economy, battered by inflation, a pandemic slump and the war in Ukraine.

Full Story Comment 0 Tweet New Zealand leader makes first trip to UK since trade deal by Naharnet Newsdesk 01 July 2022, 15:30

New Zealand Prime Minister Jacinda Ardern on Friday made her first visit to the U.K. since both countries signed a free trade agreement, meeting with British Prime Minister Boris Johnson to boost bilateral ties and discuss Russia's war in Ukraine.

The trip came after both leaders attended the NATO summit in Madrid. They will also discuss security challenges facing the Indo-Pacific region.

Full Story Comment 0 Tweet Inflation hits record 8.6% for 19 countries using the euro by Naharnet Newsdesk 01 July 2022, 14:36

Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia's war in Ukraine.

Annual inflation in the eurozone's 19 countries hit 8.6% in June, surging past the 8.1% recorded in May, according to the latest numbers published Friday by the European Union statistics agency, Eurostat. Inflation is at its highest level since recordkeeping for the euro began in 1997.

Full Story Comment 0 Tweet French airport workers strike for higher pay amid inflation by Naharnet Newsdesk 01 July 2022, 14:04

Flights from Charles de Gaulle Airport in Paris and other French airports faced disruptions Friday as airport workers held a strike to demand salary hikes to keep up with inflation and an urgent hiring push to deal with resurgent travel demand.

The labor action is the latest trouble to hit global airports this summer, as travel resurges after two years of virus restrictions.

Full Story Comment 0 Tweet After two pandemic years, a summer travel bounce — and chaos by Naharnet Newsdesk 01 July 2022, 13:41

At a tourism conference in Phuket last month, Thailand's prime minister looked out at attendees and posed a question with a predictable answer.

"Are you ready?" Prayuth Chan-ocha asked, dramatically removing his mask and launching what's hoped to be the country's economic reset after more than two years of coronavirus-driven restrictions. When the crowd yelled its answer — yes, according to local media — it might have been speaking for the entire pandemic-battered world.

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• chrisrushlau The AFP regrets an error in the above story: "the country's clerical leaders... 22 February 2026, 17:59

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