Speaker Nabih Berri's parliamentary bloc on Saturday officially nominated him for a new term as parliament speaker.

Saudi Arabia's de facto ruler Crown Prince Mohammed bin Salman and French President Emmanuel Macron have reiterated their call for "structural reforms" in Lebanon.

"They reaffirmed the need to implement the structural reforms necessary for the country's recovery, as expected by the Lebanese population and the international community," the French presidency announced after a telephone conversation between the two leaders.

Prime Minister Najib Miqati on Friday called on the country’s newly-elected MPs to “hurry up in the needed steps to name a new premier and form a new government.”

“Any delay in the financial recovery plan will have a high cost that the Lebanese will bear,” Miqati warned, at a press conference that followed Cabinet’s final session at the Baabda Palace.

The International Support Group for Lebanon (ISG) on Friday welcomed the timely conduct of the parliamentary elections in Lebanon on May 15, expressing its appreciation for “the professionalism, hard work and dedication of the Lebanese civil servants involved in the electoral process” and commending the security forces for “maintaining public order during its conduct.”

“The ISG is encouraged by the Lebanese people’s civic participation in these elections in Lebanon and abroad, which was an opportunity for them to articulate their aspirations and to have their voices heard; they deserve that,” the ISG said in a statement.

Hizbullah chief Sayyed Hassan Nasrallah on Friday called for postponing the debate over his group’s controversial arsenal of weapons for “two more years,” as he called for a quick formation of a new government.

“I agree that the (parliamentary) majority will be on a file-by-file basis,” Nasrallah said in a televised address marking six years since the death in Syria of Hizbullah’s top military commander Mustafa Badreddine.

The employees of state-run mobile network operators Alfa and touch began a strike on Friday morning, which resulted in the closure of all of the two companies’ stores and disrupted bill payment services and the distribution of recharge cards.

A technical malfunction also hit a key station in the Corniche el-Nahr area and was not repaired due to the strike.

Cabinet on Friday approved the economic recovery plan amid the objection of the ministers of Hizbullah and the Amal Movement, TV networks said.

It also approved $35 million for cancer and chronic illness medicines, noting that the amount “will be provided in fresh dollars by the housing bank.”

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that it has designated Ahmad Jalal Reda Abdallah, a Lebanese businessman and Hizbullah “financial facilitator,” as well as five of his associates and eight of his companies in Lebanon and Iraq.

“This action illuminates Hizbullah’s modus operandi of using the cover of seemingly legitimate businesses to generate revenue and leverage commercial investments across a multitude of sectors to secretly fund Hizbullah and its terrorist activities. It also demonstrates how Hizbullah goes to great lengths to establish companies with opaque ownership structure in order to conceal their involvement in these businesses, and also their involvement in criminal activities such as altering of medication labels for black market pharmaceutical sales,” the Treasury said in a statement.

The Israeli army accused Friday Hizbullah of "exposing civilians to danger" by transferring arms on civilian flights from Iran to Damascus.

Israeli army spokesman Avichay Adraee claimed in a tweet in Arabic that the transfer is managed by Reda Safieddine, son of Head of Hizbullah's Executive Council Hashem Safieddine.

Telecommunications Minister Johnny Corm on Thursday said Cabinet has a “last chance” to save the telecom sector from collapse in Friday’s session, warning that his resignation is on the table if no action is taken.

“If the decree of hiking telecom tariffs is not approved, do not hold me responsible. The elections are over and the issue no longer bears politicization. The failure to approve the tariff will affect citizens in a more negative manner and in the name of the Lebanese economy we are raising our voices,” Corm said at a press conference.