The United States Embassy in Beirut said Wednesday that it welcomes the reform steps undertaken by Prime Minister Nawaf Salam's government, including the Cabinet’s approval of the gap law.

In a statement, the embassy said the gap law would help restore the confidence of international financial institutions, including the World Bank and the International Monetary Fund, in the Lebanese economy and support its recovery.

By Kamran Talattof, University of Arizona

A familiar slogan has echoed through the streets of various Iranian cities in recent days: "Neither Gaza nor Lebanon, I sacrifice my life for Iran."

The Association of Banks in Lebanon announced Monday that the government’s draft law on financial regulation and deposit recovery was issued “without any serious study of the figures required for its implementation.”

“If it were serious, the draft law should have been preceded by determining the size of the deficit, how it will affect the Central Bank of Lebanon and the banks, an accurate assessment of non-performing assets, the amount of funds required to repay the various deposit categories, and verification of the availability of the necessary liquidity,” ABL added in a statement after a meeting.

The European Union said Monday that member states had made "progress" towards approving the bloc's trade deal with the South American bloc Mercosur and that it hoped to sign the agreement "soon".

Diplomats have said the EU aims for a signature on January 12. European Commission chief spokeswoman Paula Pinho did not confirm the date but insisted the EU was on the "right track" to get the deal over the line in the near future.

Oil prices fell back Monday while the prices of precious metals surged as markets reacted calmly to the U.S. capture of Venezuelan President Nicolas Maduro in a weekend raid.

Asian shares rallied on heavy buying of tech-related stocks after modest gains Friday on Wall Street. The future for the S&P 500 was up 0.2% while that for the Dow Jones Industrial Average was virtually unchanged.

Widening protests in Iran sparked by the Islamic Republic's ailing economy are putting new pressure on its theocracy.

Tehran is still reeling from a 12-day war launched by Israel in June that saw the United States bomb nuclear sites in Iran. Economic pressure, which has intensified since September when the United Nations reimposed sanctions on the country over its atomic program, has put Iran's rial currency into a free fall, now trading at some 1.4 million to $1.

Turkey's annual inflation slowed in December to 30.9 percent, a fourth straight month of declines and well below the 44.4 percent posted in the same month of 2024, official figures showed Monday.

Vietnam said on Monday its economy grew 8.0 percent last year, thanks to gains in services, construction and exports and despite fresh U.S. tariffs taking effect.

"GDP in 2025 is projected to grow significantly at an estimated rate of 8.02 percent compared to the previous year," the General Statistics Office said in a statement.

On New Year's Day, Bulgaria will achieve its decades-old goal of joining the euro currency union and deepening ties with the more prosperous countries of Western Europe.

Membership is expected to promote cross-border trade and investment, and the Bulgarian government pressed for years to get in. Yet polls show the changeover is taking place against a background of widespread skepticism among ordinary people.

Widening demonstrations sparked by Iran's ailing economy spread Thursday into the Islamic Republic's rural provinces, with at least seven people being killed in the first fatalities reported among security forces and protesters, authorities said.

The deaths may mark the start of a heavier-handed response by Iran's theocracy over the demonstrations, which have slowed in the capital, Tehran, but expanded elsewhere. The fatalities, two on Wednesday and five on Thursday, occurred in four cities, largely home to Iran's Lur ethnic group.