Lebanon: Economy Minister Speaks of ‘Gangs’ in Ministries

Caretaker Economy Minister Amin Salam (Reuters)
Caretaker Economy Minister Amin Salam (Reuters)
TT
20

Lebanon: Economy Minister Speaks of ‘Gangs’ in Ministries

Caretaker Economy Minister Amin Salam (Reuters)
Caretaker Economy Minister Amin Salam (Reuters)

Lebanon’s caretaker Economy Minister Amin Salam said on Friday that 40% of Lebanon's flour stock is being smuggled into Syria, pointing to what he described as “gangs in the ministries” controlling the issue.

“We can’t confront the thieves and smugglers alone. Reports show that 40% of the flour is being smuggled into Syria. The long queues of people standing outside bakeries to get bread are mainly Syrians,” said Salam in a press conference.

The Minister stated that some important documents and evidence linked to the country’s bread and wheat crisis are in his procession.

His remarks came in light of accusations blaming the Ministry of negligence in providing flour to bakeries.

“There is a surplus of 10,000 tons of flour that has been stolen. We (our government) are here to clean up the mess done by previous administrations,” he said, adding that “some have brought in gangs to the ministries.”

“Accusations must not be fired arbitrarily,” he said, demanding the state and administrations to “work according to the rules.”

“Those selling the bread for 20 and 30 thousand a pack are nothing but thieves. A bread pack should be sold for around 14 thousand only,” he added.

In a radio interview, the representative of the Bekaa bakeries and a member of the Syndicate of Beirut and Mount Lebanon bakeries, Abbas Haidar, said: “Nothing more to say after so many constant meetings and sit-ins.

“We want to deliver bread to the people as quickly as possible, and therefore demand the Ministry of Economy to form a crisis cell to secure wheat for all mills, especially in the Bekaa region."

Lebanese flocked to bakeries early mornings desperate to find affordable bread in a country where fuel and medicine are already in critically short supply.

The country, struggling with political turmoil since 2019, has also been hit by the worst global economic crisis in 150 years, according to the World Bank.

Many bakeries have already closed down because they cannot afford the rising cost of fuel needed to power private generators as electricity cuts last for around 20 hours a day.



Trump Secures $600 Billion Saudi Investment Pledge on Gulf Tour

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and US President Donald Trump shake hands during a Memorandum of Understanding (MoU) signing ceremony at the Royal Court in Riyadh, Saudi Arabia, May 13, 2025. (Reuters)
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and US President Donald Trump shake hands during a Memorandum of Understanding (MoU) signing ceremony at the Royal Court in Riyadh, Saudi Arabia, May 13, 2025. (Reuters)
TT
20

Trump Secures $600 Billion Saudi Investment Pledge on Gulf Tour

Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and US President Donald Trump shake hands during a Memorandum of Understanding (MoU) signing ceremony at the Royal Court in Riyadh, Saudi Arabia, May 13, 2025. (Reuters)
Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and US President Donald Trump shake hands during a Memorandum of Understanding (MoU) signing ceremony at the Royal Court in Riyadh, Saudi Arabia, May 13, 2025. (Reuters)

US President Donald Trump secured a $600 billion commitment from Saudi Arabia on Tuesday to invest in the United States as he kicked off a Gulf tour in Riyadh where he was welcomed by Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister.

The leaders signed an agreement on energy, defense, mining and other areas, which the White House said will “build economic ties that will endure for generations to come.”

“The deals celebrated today are historic and transformative for both countries and represent a new golden era of partnership between the United States and Saudi Arabia,” it added in a statement.

Among the agreements secured on Tuesday: Saudi Arabian DataVolt is moving forward with plans to invest $20 billion in AI data centers and energy infrastructure in the United States.

Google, DataVolt, Oracle, Salesforce, AMD, and Uber are committing to invest $80 billion in cutting-edge transformative technologies in both countries, said the White House.

American companies including Hill International, Jacobs, Parsons, and AECOM are building key infrastructure projects like King Salman International Airport, King Salman Park, The Vault, Qiddiya City, and much more totaling $2 billion in US services exports.

Additional major exports include GE Vernova’s gas turbines and energy solutions totaling $14.2 billion and Boeing 737-8 passenger aircraft for AviLease totaling $4.8 billion.

Investment partnerships include several sector-specific funds with a strong emphasis on US deployment, such as the $5 billion Energy Investment Fund, the $5 billion New Era Aerospace and Defense Technology Fund, and the $4 billion Enfield Sports Global Sports Fund.

Trump had arrived in the Kingdom earlier on Tuesday on his first overseas trip since his reelection. He will next visit the United Arab Emirates and Qatar.

Saudi Arabia and the United States also signed the largest defense sales agreement in history, worth nearly early $142 billion.