Finance Minister Yassine Jaber on Tuesday held a press conference to defend the controversial taxes that were imposed by the government overnight.

"We have reached a critical juncture with a paralyzed and struggling public sector. A decision was necessary. Negotiations took place with the military, and a meeting was held at the Ministry of Defense. The consensus was to approve the salary increase, and those present understood that approving it without revenues would expose the country to a crisis, Jaber said.

The key Ring highway in Beirut and the vital Khalde road just outside the capital were blocked on Tuesday in protest at the government’s overnight decision to hike gasoline prices by 25% and the Valued Added Tax (VAT) from 11% to 12%.

The government said it made the move in order to fund a wage increase for the public sector and the armed forces equivalent to six times their wages in Lebanese pound in 2019.

Oil prices were in focus Tuesday as U.S. President Donald Trump ramped up threats towards Iran, shaking up markets subdued by holidays in Asia and the United States.

Africa was the world's fastest-growing solar market in 2025, defying a global slowdown and reshaping where the momentum in renewable energy is concentrated, according to an industry report released in late last month.

The report by the Africa Solar Industry Association says the continent's solar installed capacity expanded 17% in 2025, boosted by imports of Chinese-made solar panels. Global solar power capacity rose 23% in 2025 to 618 GW, slowing from a 44% increase in 2024.

The Trump administration reached a trade deal with Taiwan on Thursday, with Taiwan agreeing to remove or reduce 99% of its tariff barriers, the office of the U.S. Trade Representative said.

The agreement comes as the U.S. remains reliant on Taiwan for its production of computer chips, the exporting of which contributed to a trade imbalance of nearly $127 billion during the first 11 months of 2025, according to the Census Bureau.

World shares were mixed on Friday, following sharp Wall Street losses on a sell-off of technology-related stocks that investors fear could lose out from artificial intelligence disruptions.

U.S. futures edged lower. The future for the S&P 500 fell less than 0.1%, while that for the Dow Jones Industrial Average was 0.1% lower.

A key measure of inflation fell to nearly a five-year low last month as apartment rental price growth slowed and gas prices fell, offering some relief to Americans grappling with the sharp cost increases over the past five years.

Inflation dropped to 2.4% in January compared with a year earlier, down from 2.7% in December and not too far from the Federal Reserve's 2% target. Core prices, which exclude the volatile food and energy categories, rose just 2.5% in January from a year ago, down from 2.6% the previous month and the smallest increase since March 2021.

Achieving a stable and prosperous future for Lebanon requires both comprehensive financial restructuring and a foundation of peace and security that rebuilds trust with the international community, the U.S. Embassy in Beirut said on Friday.

It said U.S. Ambassador to Lebanon Michel Issa discussed with IMF Middle East & North Africa team lead Ernesto Ramirez Rigo means to “restore Lebanon's global credibility and attract international investments.”

Lebanon has secured temporary exemptions for freight vehicles hauling certain goods after a recent ban by Damascus on foreign trucks.

Damascus had issued a decision on Saturday stipulating that "non-Syrian trucks will not be allowed to enter" the country, and that goods being imported by road must be unloaded at specific points at border crossings.

A coalition of major trade unions and farmers' groups in India mounted a nationwide strike Thursday to protest an interim trade deal with the United States, saying the agreement undermines the interests of farmers, small businesses and workers.

In Parliament, lawmakers from opposition political parties demanded that the government scrap the trade deal and criticized Prime Minister Narendra Modi with the slogan "Narendra Modi, surrender Modi."