The Association of Banks in Lebanon on Wednesday categorically denied media reports linking banks to a dramatic surge in the dollar exchange rate on the black market.

“The requirements of banking liquidity abroad, as stipulated by the central bank according to Circular 154, exceed $3.4 billion sector-wide, so is it reasonable for banks to draw them from the local black market whose volume does not exceed a few million dollars?” ABL said in a statement.

Asian markets rose Wednesday following the previous day's losses but investors remain on guard over a possible correction as concerns about asset bubbles and a surge in inflation continue to play against progress in fighting coronavirus.

Syria's pound hit a new low against the dollar on the black market Tuesday, a foreign exchange website and currency traders said, in the latest blow to the war-battered economy.

The rollercoaster saga of former Nissan chief Carlos Ghosn has made international headlines, from his shock 2018 detention in Japan to his audacious escape the following year.

Asian markets struggled Tuesday to maintain a global rebound from last week's rout as the improving economic outlook and vaccine rollouts were offset by lingering worries that valuations may have run too far.

Lebanon's central bank was to start reviewing the country's banks Monday as it faces international pressure for banking sector reform amid its worst economic crisis in decades.

The United Nations chief warned Monday of a "death sentence" for war-torn Yemen as a donor conference yielded less than half the funds needed to prevent a devastating famine.

Equities rose in Asia on Monday as investors took a breather following last week's heavy selling, with a drop in US Treasury yields giving markets some much-needed stability, while the passage of Joe Biden's stimulus through the House provided some cheer.

Factory activity in China grew at the slowest pace in nine months in February, as business operations slowed over the country's Lunar New Year holiday, according to official data released Sunday.

A key U.S. Senate official ruled Thursday that President Joe Biden's $15 per hour minimum wage measure cannot be included in the huge Covid relief bill as written, imperiling Democratic efforts to fulfill a progressive priority.