Lebanese Stores Close as Dollar Hits New High

The city of Baalbek sees a very shy commercial activity on Monday (NNA).
The city of Baalbek sees a very shy commercial activity on Monday (NNA).
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Lebanese Stores Close as Dollar Hits New High

The city of Baalbek sees a very shy commercial activity on Monday (NNA).
The city of Baalbek sees a very shy commercial activity on Monday (NNA).

The exchange rate of the dollar hit a new record in the Lebanese black market, exceeding LBP 13,000 (the official price is LBP 1,515 for one USD), forcing many shops to close their doors in various regions.

Lebanon’s National News Agency (NNA) reported that the shops in the southern city of Sidon were shut in the morning, after the dollar exchange rate reached the threshold of LBP 13,000. Some of them placed signs on the front doors saying: “We are closed because we refuse to raise prices.”

Also in Baalbek, the city’s markets witnessed light traffic and a very shy commercial activity.

According to NNA, a number of protesters organized a march in Tripoli markets, in the north, asking shopkeepers to close their stores and to announce a strike to protest the high exchange rate and the exorbitant prices.

In this context, the head of the Sidon Merchants Association, Ali Al-Sharif, said in a statement that the announcement by some commercial establishments in Sidon to temporarily close until the exchange rate stabilizes was a natural result of the sharp local currency devaluation.

The black market dollar exchange rate jumped to LBP 13,500 on Monday noon, from LBP 12,000 on Sunday and around LBP 8,000 earlier this month.



Egypt’s Tourism Minister: We’ve Agreed on Future Initiatives with Saudi Arabia


A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
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Egypt’s Tourism Minister: We’ve Agreed on Future Initiatives with Saudi Arabia


A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)

Egyptian Tourism Minister Sherif Fathy told Asharq Al-Awsat that he and Saudi Tourism Minister Ahmed Al-Khateeb have agreed to collaborate on several tourism initiatives.

These include joint marketing efforts, shared tourism programs, environmental protection measures, and promoting specific types of tourism in the Red Sea.

Fathy recently visited Riyadh, where he met with Al-Khateeb and engaged with Saudi business leaders. They discussed ways to promote tourism between their countries and increase visitor exchanges.

During his visit to the United Nations World Tourism Organization (UNWTO) regional office in Riyadh, Fathy stated that the office’s presence in Saudi Arabia enhances the organization’s work in the region and improves communication with other countries.

He confirmed that they plan to develop and implement the agreed initiatives in the near future.

Fathy highlighted that the Middle East is a key player in global tourism and deserves a dedicated office to support all countries in the region. This effort aims to boost collaboration and promote the Middle East as a top destination for travelers.

Tourism, National Economy: A Path to Sustainable Growth

Samer Al-Kharashi, Director of the UNWTO regional office for the Middle East, stated that the office supports 13 countries in the region, with Egypt being a key member.

He highlighted that the recent visit by Egypt’s Minister of Tourism and Antiquities, who serves as Vice President of the regional committee, creates opportunities for collaboration.

This partnership aims to boost tourism’s role in the national economy, create jobs, and promote sustainable practices that protect the environment.

Speaking to Asharq Al-Awsat, Al-Kharashi emphasized the potential for cooperation with Egypt, which has a rich tourism history and many ancient sites. He noted that the regional office has the expertise to assist member countries.

Al-Kharashi expressed optimism about the discussions, which covered various opportunities for joint projects that would benefit both Egypt and the wider region.

Strengthening Bilateral Relations

Fathy’s visit to the UNWTO regional office aims to enhance bilateral relations, as Cairo actively seeks to develop its tourism sector through international collaboration.

During their meeting, Fathy and Al-Kharashi addressed key issues facing Egypt’s tourism sector, including challenges and growth opportunities. They explored future cooperation, particularly in tourism training, improving services, and increasing investments.

Egypt ranks first in Africa, fifth in the Middle East, and 63rd globally on the Travel and Tourism Development Index.

The UNWTO regional office in Riyadh is the first of its kind outside the organization’s headquarters, dedicated to supporting member states in the Middle East.

The office focuses on promoting tourism education, improving infrastructure, and fostering sustainable tourism while preserving the region’s cultural and environmental heritage.