Power Crisis Stifles the Lebanese Amid Lack of Feasible Solutions

Zouk Power Station is seen in Zouk, north of Beirut, Lebanon March 27, 2019. Picture taken March 27, 2019. REUTERS/Mohamed Azakir
Zouk Power Station is seen in Zouk, north of Beirut, Lebanon March 27, 2019. Picture taken March 27, 2019. REUTERS/Mohamed Azakir
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Power Crisis Stifles the Lebanese Amid Lack of Feasible Solutions

Zouk Power Station is seen in Zouk, north of Beirut, Lebanon March 27, 2019. Picture taken March 27, 2019. REUTERS/Mohamed Azakir
Zouk Power Station is seen in Zouk, north of Beirut, Lebanon March 27, 2019. Picture taken March 27, 2019. REUTERS/Mohamed Azakir

Lebanon’s electricity crisis severely worsened over the past few days, with power outages extending to 20 hours per day even in the capital.

Many generator owners have raised the monthly tariff because of the high cost of diesel and reduced subscription hours, which drowned several areas in total darkness that was only broken by candlelight.

The electricity crisis prompted a number of stores, especially small ones, to stop buying food commodities that need a refrigerator.

Minister of Energy Raymond Ghajar said that power rationing was due to the lack of fuel, citing “judicial reasons” behind the delay of delivery by fuel ships.

In response, member of the Progressive Socialist Party (PSP) and electricity expert Mohammed Basbous stressed that the ministry was required to provide further information on the matter.

“It’s surprising that we currently face an electricity crisis, especially since the Algerian Sonatrach company announced that it would commit to supplying Lebanon with the amount of fuel it needs and would refrain from renewing the contract at the end of the year,” he told Asharq Al-Awsat.

“The electricity crisis was supposed to start at the end of the year and not now, if no alternatives were found,” he emphasized.

Basbous asked about the reason why additional quantities were not brought from the Kuwait Petroleum Corporation, which has a similar contract to that of Sonatrach with the Lebanese state.

The Minister of Energy had announced that Iraq intended to supply Lebanon with fuel in exchange for food, Lebanese commodities and medicine. But Basbous stressed that this was not a feasible solution, due to the scarcity of food in the country, as factories were struggling to maintain their operation amid a severe financial and economic crisis.

The PSP member underlined that the lack of fuel and its high price were due to smuggling, as there are “lines of trucks that leave daily from the refineries and go directly to the border with Syria.”

He noted that the only solution was a government decision to immediately launch the comprehensive reform process, starting from the electricity and fuel issue, in addition to controlling cross-border smuggling.



China Leaders Urge Self-Reliance to Combat Economic ‘Difficulties’

Light reflects off buildings at sunset in Beijing on April 27, 2026. (AFP)
Light reflects off buildings at sunset in Beijing on April 27, 2026. (AFP)
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China Leaders Urge Self-Reliance to Combat Economic ‘Difficulties’

Light reflects off buildings at sunset in Beijing on April 27, 2026. (AFP)
Light reflects off buildings at sunset in Beijing on April 27, 2026. (AFP)

China's leaders urged greater self-reliance in the technology sector and industrial chains and stronger domestic demand to combat "difficulties and challenges" facing the economy at a high-level meeting, state media said Tuesday.

The calls came during a meeting of the ruling Communist Party's Politburo, a top decision-making body headed by President Xi Jinping, according to a summary published by state news agency Xinhua.

The world's second-largest economy has struggled to mount a robust comeback since the end of the Covid-19 pandemic, with a protracted debt crisis in the once-booming property sector and sluggish consumption weighing on activity, even as exports boom.

Noting "a strong start" to the year, officials at the meeting also acknowledged that "the economy faces certain difficulties and challenges, and the foundation for its sustained steady and positive growth still needs to be further consolidated".

"Efforts must be made to promote scientific and technological self-reliance and self-strengthening," Xinhua said.

Leaders also called for "continuously expanding domestic demand", as well as moves to "stabilize the real estate market" and employment, the report added.

Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, said the meeting showed that "the government is aware of the difficulties" facing the economy.

While last quarter's overall growth outpaced forecasts, momentum is set to slow during the second quarter due to external uncertainties and higher energy prices, Zhang wrote in a note.

"The key issue to watch in the coming months is how resilient China's exports will be," he added.

"If export growth stays resilient, I think the policy stance will stay unchanged in Q2. If export growth turns negative, I'd expect further policy support from the government."


Thailand Projects Lower Growth, Fewer Tourists Due to Middle East War

A clothes vendor prepares her displays as she opens up for business at Mahanak Market in Bangkok early on April 20, 2026. (AFP)
A clothes vendor prepares her displays as she opens up for business at Mahanak Market in Bangkok early on April 20, 2026. (AFP)
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Thailand Projects Lower Growth, Fewer Tourists Due to Middle East War

A clothes vendor prepares her displays as she opens up for business at Mahanak Market in Bangkok early on April 20, 2026. (AFP)
A clothes vendor prepares her displays as she opens up for business at Mahanak Market in Bangkok early on April 20, 2026. (AFP)

Thailand's economic growth and tourist arrivals are forecast to drop this year as the Middle East war roils global energy prices, the finance ministry said Tuesday.

The country's GDP growth is projected to dip to 1.6 percent, the ministry said in a statement, down from 2.4 percent in 2025.

Growth in the Southeast Asian nation is anemic, with the tourism sector vital but arrivals yet to return to their pre-Covid highs.

The government said in February that this year's growth forecast was between 1.5 to 2.5 percent.

Thailand expects about 33.5 million foreign tourists this year, about two million fewer than previously estimated, the ministry said on Tuesday.

Tourists from Europe and the Middle East have declined as a result of the US-Israeli war against Iran, which began two months ago and has driven up fuel prices, the ministry added.

Visitors from the Middle East fell by a third in March compared to the same month last year, and European arrivals dropped around four percent, while tourists from other Asian nations rose six percent, according to Thai tourism ministry figures.

Thailand received nearly 33 million foreign visitors in total last year.

The country's core inflation was forecast to hit three percent this year, up from an earlier estimate of 0.3 percent.


Oil Prices Rise 1% as No End to Iran War Stand-off Seems in Sight

 An offshore drilling platform operated by Sable Offshore Corp. is seen from Refugio State Beach near Goleta, Calif., Sunday, April 26, 2026. (AP)
An offshore drilling platform operated by Sable Offshore Corp. is seen from Refugio State Beach near Goleta, Calif., Sunday, April 26, 2026. (AP)
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Oil Prices Rise 1% as No End to Iran War Stand-off Seems in Sight

 An offshore drilling platform operated by Sable Offshore Corp. is seen from Refugio State Beach near Goleta, Calif., Sunday, April 26, 2026. (AP)
An offshore drilling platform operated by Sable Offshore Corp. is seen from Refugio State Beach near Goleta, Calif., Sunday, April 26, 2026. (AP)

Oil prices rose 1% on Tuesday, extending gains from the previous session, as efforts to end the US-Iran war appear stalled, with the crucial Strait of Hormuz waterway still mainly shut, keeping energy supplies from the key Middle East producing region out of the reach of global buyers.

US President Donald Trump is unhappy with the latest Iranian proposal aimed at ending the war, a US official said on Monday. Iranian sources disclosed on Monday that Tehran's proposal avoided ‌addressing its ‌nuclear program until hostilities cease and Gulf shipping disputes are ‌resolved.

Trump's ⁠displeasure with the ⁠Iranian offer leaves the conflict deadlocked, with Iran shutting shipping flows through the Strait of Hormuz, which typically carries supply equal to about 20% of global oil and gas consumption, and the US keeping in place its blockade of Iranian ports.

Brent crude futures for June climbed $1.41, or 1.3%, to $109.64 a barrel as of 0400 GMT, after gaining 2.8% in the previous session to its highest close since April 7. ⁠The contract is up for a seventh day.

US West Texas ‌Intermediate (WTI) crude for June rose $1.27, or 1.3%, to $97.64 ‌a barrel, after gaining 2.1% in the previous session.

An earlier round of negotiations between the ‌US and Iran collapsed last week following failed face-to-face talks.

"Talks around ‘peace’ still ‌look largely superficial and lack concrete evidence of de-escalation. Despite the rhetoric, vessel movement through the Strait of Hormuz remains curtailed, and that prolonged disruption is what's keeping oil risk premiums elevated," said Phillip Nova's senior market analyst Priyanka Sachdeva.

"In the near term, oil markets are ‌less about macro demand and more about diplomatic gridlock. Until diplomacy translates into actual barrel flows, not just statements, oil ⁠markets will remain volatile ⁠with an upward bias through May," she added.

Ship-tracking data revealed significant disruptions in the region, with six Iranian oil tankers forced to turn back due to the US blockade.

Prior to the US-Israeli war on Iran, which began on February 28, between 125 and 140 vessels transited the strait daily.

The market is also looking ahead to private and government US inventory data for later this week.

Analysts polled by Reuters are expecting US crude inventories to have risen by 300,000 barrels in the last week, with official data from the US Energy Information Administration set for release on Wednesday.