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Hamra bank standoff exposes desperation of economic crisis

A judge ordered a gunman who took up to 10 hostages at a Beirut bank to force the release of his trapped savings to stay behind bars Friday, apparently a bid to prevent copycats as desperation deepens over Lebanon's economic meltdown.

A few dozen relatives of Bassam al-Sheikh Hussein briefly closed a major road in Ouzai, saying that keeping him in jail breaches an agreement reached Thursday. The 42-year-old food-delivery driver surrendered after a seven-hour standoff in return for getting $35,000 of his money and promises that he would only be questioned then set free. No one was injured.

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Five major Chinese firms to delist from NYSE

Five major Chinese companies including two of the country's largest oil producers will delist from the New York Stock Exchange, the firms said in filings on Friday.

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Amsterdam airport to compensate chaos-hit travelers

Amsterdam's Schiphol airport said it will compensate passengers who missed flights due to huge queues in a chaotic summer at one of Europe's busiest hubs.

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Stock markets mostly rise, oil drops

Stock markets mostly rose, the dollar rallied and oil prices fell Friday as traders attempt to guess the size of the US Federal Reserve's next interest rate hike after sky-high U.S. inflation eased.

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Germany to turn thermostat down as gas shortage looms

Germany will limit heating in public buildings over the winter to save on gas as Russia throttles supplies to Europe, Economy Minister Robert Habeck said on Friday.

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Shami says Lebanon at crossroads, urges for speedy reforms

Deputy Prime Minister Saadeh Shami said Friday that Lebanon is at a crossroads between reforms and further collapse.

"We have drawn a roadmap for economic, financial and monetary reforms through an agreement with the International Monetary Fund," Shami said, urging for a quick implementation of the IMF's prerequisites in order to reach a final agreement as soon as possible.

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Daily transport allowance for private sector workers increases to LBP 95,000

Caretaker Labor Minister Mustafa Bayram announced Friday that the daily transport allowance for private sector employees has increased to LBP 95,000.

The amendment to the transport allowance has been signed by President Michel Aoun, Prime Minister-designate Najib Mikati and Bayram.

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Oil demand rises as gas prices surge

Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency said Thursday.

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Stocks rise on more positive inflation data

Stock markets were mostly higher on Thursday after new U.S. data suggested that inflation could indeed be slowing in the world's biggest economy, raising hopes of less aggressive Federal Reserve monetary policy.

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US gasoline prices fall below $4 for first time since March

It's not too late for a road trip: The U.S. average price of gasoline at the pump has finally fallen below $4.00 a gallon, providing a bit of relief for Americans struck by massive inflation at almost every turn.

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