Lebanon’s MEA Set to Accept ‘Fresh Dollars’ Only

A Middle East Airlines (MEA) plane. Reuters file photo
A Middle East Airlines (MEA) plane. Reuters file photo
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Lebanon’s MEA Set to Accept ‘Fresh Dollars’ Only

A Middle East Airlines (MEA) plane. Reuters file photo
A Middle East Airlines (MEA) plane. Reuters file photo

The head of Lebanon's airline said on Sunday the carrier would at some point need to demand payment for tickets bought in Lebanon using "fresh dollars", or recently transferred currency that is not subject to restrictions imposed since a financial crisis.

Middle East Airlines (MEA) Chairman Mohamad El-Hout did not say when this rule would be introduced, but the warning will raise concerns for holders of dollars who have been virtually locked out of dollar accounts since late 2019.

The authorities have limited dollar withdrawals to about $500 a month, with a few exceptions, and imposed an exchange rate of about 3,900 Lebanese pounds, effectively slashing the value of those deposits as the unofficial street rate is now over 8,000. Before the crisis, 1,500 was the freely-used rate.

Buying airline tickets was one way those dollars held in local banks could be used, in a nation with a large diaspora and where hard currency has grown scarce.

Dollars transferred to Lebanon in more recent months, known as "fresh dollars", are held in new accounts and not subject to withdrawal or other restrictions.

"If the company wants to ensure its stability, we will reach a time when we will need to have sales in 'fresh dollars'," Hout told Reuters, adding that MEA would need to do this because the carrier's expenses for fuel and other items were in dollars.

He said the alternative was to stop operating the carrier, which is majority owned by the central bank.

He also told a Lebanese television channel that prices lowered, by about 40%, once payment was in "fresh dollars.”



How Will Saudi Arabia’s Consumer Protection Law Reshape Relations Between Buyers and Sellers?

 Centria Mall in Riyadh (Saudi Tourism)
Centria Mall in Riyadh (Saudi Tourism)
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How Will Saudi Arabia’s Consumer Protection Law Reshape Relations Between Buyers and Sellers?

 Centria Mall in Riyadh (Saudi Tourism)
Centria Mall in Riyadh (Saudi Tourism)

Saudi Arabia’s new consumer protection law could reshape everyday transactions in the kingdom, promising greater transparency, safeguards against harmful business practices and easier access to redress.

But its real test will be whether effective enforcement and swift complaint resolution turn legal guarantees into tangible protection.

Lawyer and legal consultant Dr. Tael bin Fahm told Asharq Al-Awsat that the law could strengthen relations between consumers and businesses by making transactions more transparent and clarifying mutual rights and obligations, creating a more reliable and consistent shopping and service experience.

For consumers, the biggest change would be a shift from seeking redress after suffering harm to preventing it in the first place, he said. That would require clear information on products, services, prices, warranties, contract terms and complaint procedures.

Making Consumer Rights Easier to Enforce

Consumers have long faced hurdles in asserting their rights, from difficulties proving violations and navigating multiple authorities to lengthy disputes, particularly over warranties and defective products, Bin Fahm said.

For some, the cost of pursuing a complaint outweighs the damage itself, discouraging them from seeking compensation.

The solution, he said, lies in simpler complaint procedures, faster decisions, clearer escalation channels and digital tools to track cases.

Recognizing consumer rights is not enough; consumers must be able to exercise them.

Stronger legal protections could also push businesses to improve service quality, ensure credible advertising, strengthen after-sales support and resolve customer complaints more quickly, Bin Fahm said.

Beyond tackling violations, he said, the law could bolster consumer confidence and foster a more competitive market where respect for consumer rights becomes a core measure of business performance.

Enforcement Holds the Key

The law offers an opportunity to strengthen consumer protection as Saudi Arabia’s e-commerce sector expands and the range of goods and services grows. But Bin Fahm cautioned that its impact would depend on enforcement, not merely enactment.

Legislation lays the groundwork, he said, but effective oversight, enforcement procedures and public awareness are what turn legal protections into reality.

He identified clear implementing regulations, effective market oversight, swift complaint resolution, meaningful penalties and accessible compensation for valid claims as critical to success. Greater awareness of rights and responsibilities among consumers and businesses would also be essential.

To gauge whether the law is delivering, Bin Fahm called for measurable benchmarks, including average complaint resolution times, dispute settlement rates, consumer satisfaction and reductions in repeat violations.

Ultimately, he said, success would be measured not by the number of legal provisions or penalties, but by whether consumers feel safe and confident in everyday transactions and can secure their rights without complicated procedures or costs disproportionate to the harm suffered.

The goal is a market where consumer rights are respected as a matter of course and fair business practices are the rule, not the exception.


Hapag-Lloyd Raises Outlook for Third Time on Strong Freight Rates

Hapag-Lloyd containers at a loading terminal at the harbor in Hamburg, Germany, July 13, 2025. (Reuters)
Hapag-Lloyd containers at a loading terminal at the harbor in Hamburg, Germany, July 13, 2025. (Reuters)
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Hapag-Lloyd Raises Outlook for Third Time on Strong Freight Rates

Hapag-Lloyd containers at a loading terminal at the harbor in Hamburg, Germany, July 13, 2025. (Reuters)
Hapag-Lloyd containers at a loading terminal at the harbor in Hamburg, Germany, July 13, 2025. (Reuters)

German container shipping company Hapag-Lloyd on Wednesday raised its full-year earnings outlook for the third time this year, citing strength in freight rates and a stronger-than-expected performance ‌in the ‌fourth quarter.

The stock was ‌up ⁠2.4% at 0925 ⁠GMT.

The upgrade adds to a series of positive outlook revisions across the European logistics sector, where resilient global trade, elevated shipping ⁠rates and persistent ‌supply-chain disruptions have ‌supported earnings and boosted profitability.

Hapag-Lloyd ‌now expects full-year earnings ‌before interest and tax of $2.0 billion to $2.4 billion, up from previous expectations of $1.25 billion to $1.75 ‌billion.

The company also lifted its 2026 earnings before ⁠interest, tax, ⁠depreciation and amortization guidance to $4.6 billion to $5.0 billion, from $3.9 billion to $4.4 billion previously.

The latest increase follows earlier upgrades in July and September, reflecting sustained strength in container shipping markets and management's improved expectations for year-end trading.


Gold Gains After Steep Drop, but Hawkish Central Bank Signals Weigh

People buy gold jewellery on the occasion of 'Dhanteras' as part of Diwali celebrations, the Hindu festival of lights, in Kolkata on November 6, 2026. (AFP)
People buy gold jewellery on the occasion of 'Dhanteras' as part of Diwali celebrations, the Hindu festival of lights, in Kolkata on November 6, 2026. (AFP)
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Gold Gains After Steep Drop, but Hawkish Central Bank Signals Weigh

People buy gold jewellery on the occasion of 'Dhanteras' as part of Diwali celebrations, the Hindu festival of lights, in Kolkata on November 6, 2026. (AFP)
People buy gold jewellery on the occasion of 'Dhanteras' as part of Diwali celebrations, the Hindu festival of lights, in Kolkata on November 6, 2026. (AFP)

Gold prices climbed on Wednesday, but remained anchored near the $4,000 level after a sharp selloff in the previous session following a hot US inflation print and hawkish policymakers' comments that tilted market expectations towards further and larger ‌rate hikes.

Spot ‌gold rose 0.5% to $4,051.31 per ounce ‌by ⁠0916 GMT after dropping ⁠as much as 3% to $4,013.29 on Tuesday. US gold futures for December delivery gained 0.7% to $4,059 per ounce.

"Gold is seeing some slight relief after its post-CPI declines," said Han Tan, chief market analyst at Bybit.

"However, it's a tough ask for gold bulls to keep pushing prices higher, given ⁠the prospects of more Fed rate ‌hikes in the pipeline."

Data released on ‌Tuesday showed US consumer prices rose more than expected in ‌October, with the CPI increasing 0.4%. Economists polled by Reuters ‌had forecast a 0.3% rise.

Traders raised the odds of a December Federal Reserve rate hike to 100% from 84% before the data, as per CME's FedWatch tool. Expectations of a ‌larger, half-percentage-point hike also increased.

Ahead of the data, Fed Governor Christopher Waller said a core inflation ⁠reading ⁠of 0.3% in October would prompt him to consider a half-point hike at the December meeting.

Other policymakers also maintained a hawkish tone, with Fed Bank of Philadelphia President Anna Paulson signaling further US rate hikes and Fed Vice Chair for Supervision Michelle Bowman reaffirming the central bank's focus on curbing price pressures.

Although gold is typically seen as an inflation hedge, higher interest rates diminish its appeal, as gold bullion pays no interest.

Among other metals, spot silver climbed 2.7% to $52.87 per ounce, and palladium gained 4.1% to $1,066.66 per ounce.