
Jan 16, 2022
Lebanon's state internet provider says internet services have been disrupted because of diesel shortages
BEIRUT (AP) — Internet services were disrupted in Lebanon Sunday because of diesel shortages, according to the state provider, adding another essential service to the list of casualties of the country’s snowballing economic crisis.
Imad Kreidieh, the head of state internet provider Ogero, tweeted that starting early Sunday a major station in west Beirut, al-Mazraa, would run out of diesel and go offline. The outage affected over 26,000 subscribers, including the country’s General Security operation rooms, he told Al-Jadeed TV.
By midday Sunday, a resident donated diesel, allowing the station to get back online, he said. Meanwhile, another neighborhood in east Beirut, Achrafieh, was out of diesel and operated on batteries.
“The situation is unbearable,” Kreidieh told the TV station.
Lebanese live with only few hours of state electricity a day and rely on a network of private generators that also depend on diesel fuel. This often leaves neighborhoods in total darkness for hours. Meanwhile, residents have to pay for multiple services, including hefty bills to generator operators, which change regularly as the crisis worsens.
Internet and telecom services already were expensive in Lebanon. In 2019, a tax imposed on WhatsApp services sparked nationwide protests that turned into a denunciation of the entire political elite.
The import-dependent country is also suffering from shortage of medicines, leaving patients dependent on black market, smuggled medicines and donations from Lebanese expats and civil groups.
Lebanon is in the throes of the worst financial and economic crisis in its history that has sunk the once middle-class country into poverty.
The crisis is rooted in years of corruption and mismanagement by the same political class that has ruled for years. Lebanon is running out of foreign reserves and has gradually lifted subsidies on essential goods, including fuel and medicines.
But the government has yet to implement a social safety program or draft a recovery plan to negotiate with the International Monetary Fund.
The crisis caused the national currency to lose more than 90% of its value to the dollar while banks, fearing bankruptcy, have limited people’s access to their deposits in local and foreign currency. Meanwhile inflation has soared and prices increased.
The state-owned and other telecommunication companies complain they can’t keep up with rising operational costs, including fuel.
“I will not agree to continue in this post unless I have all the authorities and tools to do my job,” Kreidieh told Al-Jadeed.
He blamed the service interruption in west Beirut on a civil servant who didn’t sign a piece of paper on time to allow him to buy needed diesel. Amid the crisis, many public sector workers have gone on strike, demanding their salaries be adjusted to rising inflation and a collapsing currency.
Kreidieh said internet service is also affected outside of Beirut.
Commercials with Sydney Sweeney promoting a gambling platform and Megan Fox endorsing male enhancement have rankled fans, and even athletes. Who is in charge?
Despite strong revenues and profits, the streaming service cut 1,000 jobs and jettisoned its chief content officer. Drops in the stock price and viewer engagement are to blame.
In the contrarian logic of investing, rising interest rates have made bonds much more attractive, our columnist says.
Higher interest rates are inflating borrowing costs as the Trump administration spends on the Iran war and tariff refunds.
The potential downgrade by MSCI, an influential index provider, adds to a deepening crisis of investor confidence in the economic policies of President Prabowo Subianto.
The Federal Reserve chairman stuck to his pledge to avoid providing guidance about the path forward for interest rates, but did nothing to convey an urgency to raise them later this month.
Tesla CEO Elon Musk showcased the vehicle at a facility owned by his SpaceX company, which helped develop the model.
Kevin Warsh, the central bank’s chairman, suggested he wouldn’t push to raise borrowing rates this month. But persistent inflation may force the Fed’s hand.
Senior banking executives have told the BBC they expect to be "on the menu" in the chancellor's Budget tax later this month.
The booking giant is accused of breaking federal antitrust laws and forcing millions of customers to overspend on stays by as much as 30 percent.
Elon Musk’s company and other automakers, like Jaguar and Bentley, are trying to sell very expensive electric cars to people who usually prefer gasoline-fueled luxury and performance.
President Trump has been promoting his efforts to reduce drug prices, but many Americans have not seen relief from rising costs for prescriptions and insurance premiums.