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Economy May 22, 2026

Lebanon's Economy Collapses Under Weight of Regional Conflict and Fuel Crisis

Lebanon's economy, showing modest growth in 2025, is now facing collapse due to renewed conflict wi…
The Economic Crisis in War-Torn LebanonBeirut, Lebanon – Mario Habib, a 51-year-old barber who opened his shop in 2006 just before war broke out between Israel and Hezbollah, is now living through another conflict. Twenty years later, his business in Furn el-Shebbak neighborhood is struggling as Lebanon's economy deteriorates under the weight of renewed war and global fuel crisis. "The price of running the generator is killing me," Habib said. "Everything has gotten more expensive, the price of petrol doubled, the supermarket is more expensive, even the products [I use for my business] got more expensive."Regional Conflict Disrupts Fuel Supplies and Economic GrowthIsrael's war on Lebanon and the broader US-Israel war on Iran are severely damaging Lebanon's fragile economy. Supply issues have particularly affected oil from the Gulf region, which has largely stopped flowing since the US and Iran blockaded the Strait of Hormuz. In Lebanon, which was already suffering from a severe economic crisis, there is less work and people are losing their jobs at an alarming rate.Despite Lebanon's government expressing optimism about the country's economy in 2025, with the World Bank recording a modest 3.5 percent GDP growth that year, the renewed conflict has erased those gains. In March 2026, inflation reached an 18-month high in Lebanon. Lebanon's Bank Audi now predicts that there will be 0 percent GDP growth in 2026 if the war continues.Economic Indicators Show Deteriorating ConditionsInflation reached an 18-month high in March 2026Bank Audi projects 0% GDP growth for 2026 if war continuesLebanon had recorded 3.5% GDP growth in 2025Reconstruction and recovery costs estimated at $11bn by World BankWar-related losses in 2026 estimated at $3bn (with more expected)Oil prices have increased approximately 65% since MarchCompounding Crises Create Perfect Economic StormLebanon's current economic crisis is not solely the result of recent conflicts. The country has been facing multiple compounding crises for years:2019: Financial mismanagement led to a banking crisis, cutting people off from their savings2020: Beirut port explosion killed 218 people and devastated infrastructure2021-2022: Worsening state services and mass emigration2023-2024: Hezbollah-Israel war displaced thousands of Lebanese2024: Israel intensified attacks, displacing more than one million people2026: Renewed Israeli attacks have displaced over 1.2 million people"This is a war that comes after a war," said Sami Zoughaib, an economist and research manager at The Policy Institute, a Beirut-based think tank. "It comes after institutional collapse. It comes after one of the worst financial crises in history."Societal Impact and Economic VulnerabilityThe economic crisis is disproportionately affecting Lebanon's most vulnerable populations. According to the World Bank, agriculture, commerce, and tourism—sectors accounting for 77 percent of economic losses—are key income sources for low-wage and informal workers now at significant risk.Remittances, which were approximately $6.6bn in 2023, are expected to drop significantly in 2026 due to rising oil prices. The 65% increase in oil prices since March particularly affects remittances from Gulf countries, which are crucial to Lebanon's economy.The displacement crisis has mostly impacted Lebanon's Shia community, from which Hezbollah draws its support. However, economists warn that the economic fallout could exacerbate societal divisions, with political elites potentially scapegoating displaced people for the country's economic problems—a pattern seen in the past with Syrians and Palestinians.Future Outlook: Economic Collapse or Recovery?Should the current pattern of conflict continue, Lebanon's economy could soon become unviable, with many investors deciding that opening or operating businesses is not worth the potential returns. The impact has been felt across the country, with no community left untouched by the economic consequences of war.While some areas have been hit harder than others, economist Sami Zoughaib warns that Lebanon may be reaching a point of no return. "That is, for me, very dangerous," Zoughaib said, referring to the potential for political elites to exploit economic divisions for their own gain.For ordinary Lebanese citizens like Mario Habib, the immediate concern is survival. Despite rising costs and reduced business, Habib refuses to raise his prices. "I always prefer that the person who comes here is comfortable," he said. "A lot of things are more expensive, but I prefer to be conservative on this. I feel like if you come to me, you want to be happy and relaxed."
#Lebanon #Economy #Israel-Lebanon War
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World Wide May 22, 2026

The Hidden Mental Scars of Mali's War

The Malian war has left deep mental scars on its survivors, a often-overlooked consequence of confl…
The Unseen Toll of War The conflict in Mali has had a profound impact on the mental health of its citizens. Beyond the physical destruction and loss of life, the war has left a lasting legacy of psychological trauma. Living with Trauma Survivors of the war often struggle with anxiety, depression, and post-traumatic stress disorder (PTSD). These conditions can make everyday tasks challenging and affect relationships with family and friends. The Need for Support Addressing the mental health needs of Malians affected by the war is essential for the country's recovery. This includes providing access to mental health services and supporting community-based initiatives. A Path Forward By acknowledging the mental trauma caused by the war, Mali can begin to heal and rebuild. It is crucial for the international community to provide support and resources to help the country address this critical issue.
#Mali #Mental Health #War Trauma
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Economy May 22, 2026

Petrol Purchases Plunge Drives Biggest UK Retail Sales Drop in a Year

Motorists cutting back on petrol purchases at the steepest rate since the Covid pandemic drove reta…
The Fuel-Driven Retail ContractionMotorists cutting back on petrol and fuel purchases at the steepest rate since the Covid pandemic in 2020 drove retail sales in Great Britain to their biggest monthly decline in a year. The Office for National Statistics (ONS) reported that the overall volume of retail sales plunged by 1.3% in April compared with the previous month, marking the biggest contraction since May last year and exceeding economists' expectations of a -0.6% decline.The Fuel Purchase FreefallFuel purchases plunged more than 10% month on month, representing the biggest slide since November 2020, when monthly sales fell 14.8% as pandemic protocols put households into a second national lockdown. After strong growth in March, motorists appear to be conserving fuel, with the ONS noting that "these subdued fuel purchases contributed to a sizeable monthly fall for total retail sales in April."Financial Impact AnalysisThe ONS slightly revised down its initial estimate of retail sales growth in March from 0.7% to 0.6%. That previous rise had been driven by a 6.1% increase in fuel sales volumes – and a 12% rise in the value of fuel sales, the biggest monthly increase since November 2021 – as the Iran war prompted "panic at the pumps" and a rush to stock up amid the biggest jump in fuel prices for more than three years.When excluding the impact of the dramatic fall in fuel purchases, total retail sales still fell by 0.4% month on month, indicating broader consumer caution beyond just fuel purchasing decisions.Shifting Consumer Behavior in RetailDespite the overall decline, there were "strong and sustained" sales at beauty product and computer and tech shops in April. However, retail stores faced a 0.4% decrease versus March, with clothing stores taking the brunt as sales declined 2.4% – the lowest level since June last year. This decline occurred amid variable weather conditions and lower demand as shoppers worried about rising prices.Consumer sentiment has fallen at its fastest rate for four years, according to Jacqueline Windsor, head of retail at PwC UK, who noted that "April 2026 will be remembered as the first month that the impact of the Middle East conflict first hit British consumers."Future Outlook for UK RetailThe question now is whether the downward momentum in retail sales will continue, or if May's better weather and potentially lower inflation can encourage consumers back into stores as spring turns to summer. Over the first quarter, total retail sales rose by 1.1% year on year and 0.5% compared with the final three months of last year, suggesting some underlying resilience despite the April downturn.The retail sector faces significant headwinds from geopolitical tensions affecting fuel prices and broader economic uncertainty, which may continue to influence consumer spending patterns in the coming months.
#Great Britain #Office for National Statistics #Retail Sales
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Environment May 22, 2026

Big Oil's War Profits May Have a Silver Lining After All

Fossil fuel companies are reaping massive profits from the Iran conflict while ordinary consumers f…
The LeadA friend of mine was recently left in tears after filling up the car she relies on to drive to work. Thanks to the US-Israeli attacks on Iran, prices at the pumps have soared. She wasn't sure how her family was going to make it to the next paycheck.It is a personal story and a distressing one, but the big picture is truly obscene. Fossil fuel companies are raking in monstrous, unearned war profits taken from the pockets of people like you, me, my friend, and any of us who fills up a vehicle or pays an energy bill.The War-Profits Bonanza$30m an hour: that's the pure, unearned profits banked by the world's top 100 oil and gas companies in the first month of the conflict in Iran, purely due to the spike in the oil price. Now the first numbers are in, and that $30m may have been a major underestimate.Shell's profit for the first three months of 2026 more than doubled to $6.9bn, as did BP's, to $3.2bn. TotalEnergies profits also surged by more than 50%, up to $5.8bn. Even in the Gulf itself, where the flow of oil through the strait of Hormuz has been heavily restricted, some companies have still flourished. Aramco, the state oil company of Saudi Arabia, saw its profits soar by 26% to $33.6bn in the first quarter.The Financial Impact on ConsumersThose four companies alone, benefiting not just from the oil price hike but also bumper oil-trading profits, made $23m an hour for the whole of January, February and March. And the Iran conflict only started on 28 February.To get some idea of the scale of this, imagine I gave you $6,200. What would you do? Pay off a loan? Book a fancy holiday? A second later, I give you another $6,200; then again, for hours, weeks and months. That is the rate of profit of just those four companies.There is plenty more to come for the industry. Oil and gas supplies will take months to return to prewar levels, and reserves are getting dangerously low. Even if the oil price remains at today's level of about $100 a barrel, those 100 companies will make $234bn by the end of the year. Remember, the companies, and petrostates such as Russia, have done no extra work for this, just ridden a soaring oil price. Also remember, you are paying for this. Where I live in the UK, household energy bills are about to jump by £209 ($280) a year for the average home.The Industry's Climate ObstructionThe profits are extreme, but not new: big oil and gas has been wildly profitable for decades. It has made an average $1tn a year in pure profit for about 50 years. The fossil fuel sector also benefits from explicit subsidies that totalled $1.3tn in 2022, according to the International Monetary Fund.These riches have funded the lobbying and campaigns that block climate action and have done so for years, long after the science became crystal clear. As an example of the consequences, the UK's official climate advisers said on Tuesday that all care homes and hospitals will need air conditioning within the coming 10 years, to stop the heat killing people.The Green Transition AccelerationBut here's that silver lining I promised: these peak profits contain the seeds of their own downfall. Sky-high fossil fuel prices are pushing people, companies and nations to supercharge their rush towards green power for the simple reason that it is now cheaper and more reliable. Solar power does not need to transit through the strait of Hormuz, as Bill McKibben has observed.The numbers on the surge in renewable energy deployment, already exponential, are not yet in, but they will almost certainly be huge. Green funds are already attracting billions of dollars in new investments and one consultancy estimates that an oil price of $100 a barrel will drive $4tn of extra green investment by 2030.Big oil remains a formidable political force but, on the ground, people are already voting with their feet. Sales of new electric cars in the UK leapt by 59% in April, for example. The pain and anger of today's energy crisis may yet become a critical turning point in confronting the climate crisis.
#Big Oil #Iran Conflict #Renewable Energy
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Environment May 22, 2026

Sea Foam: The Natural Phenomenon Behind Britain's Coastal Foam

Sea foam appearing around Britain's coast is a natural phenomenon caused by algae blooms and weathe…
The LeadAt this time of year a sinister-looking substance can often be sighted around Britain's coast: a frothy foam piled up along the shoreline or appearing in long ribbons offshore. People sometimes assume this foam is the result of pollution or sewage dumping. In fact it is a common natural phenomenon produced by a combination of algae and weather.The Science Behind Sea FoamSea algae start to grow in April as conditions warm. The most common sort, phaeocystis, is not toxic and forms part of the marine food chain. When the algal bloom dies it leaves a brown scum of organic material with surfactant properties, which, like soap, lowers the surface tension of the water.Formation of Coastal FoamThese natural surfactants create foam when the water is disturbed. Breaking waves churn up the water and produce yellowish-brown foam along the shoreline. This may be so abundant that fragments blow about like thistledown.Wind Patterns and Foam LinesWind blowing over the sea creates rotating horizontal cylinders of water, like submerged rolling pins. These rotating currents, known as Langmuir circulation, push water downward at one point and up in another. Sea foam gathers in long parallel lines in the calm sections, known as windrows, foam lines, or drift lines.Understanding the Appearance and SmellSea foam may look unnatural, as well as unsightly, and it sometimes smells foul. But it is generally natural and harmless.
#Sea Foam #Marine Biology #Phaeocystis
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Sports May 22, 2026

Kyle Busch, Two-Time NASCAR Champion, Dies at 41

Two-time NASCAR Cup Series champion Kyle Busch has died at 41 after being hospitalized with a sever…
The Passing of a NASCAR LegendTwo-time NASCAR Cup Series champion Kyle Busch has died at 41 after being hospitalized with a severe illness, NASCAR announced in a Thursday statement. The racing organization expressed their sadness, calling Busch "one of our sport's greatest and fiercest drivers" and extending condolences to his family, Richard Childress Racing, and the motorsports community.Racing Career and AchievementsBusch, a Las Vegas native, won championships in 2015 and 2019 and held the record for most wins across NASCAR's three national series with 234 victories. He was in his fourth season at Richard Childress Racing after previously winning titles with Joe Gibbs Racing. This season, he ranked 24th in the Cup Series standings with two top-10 finishes in 12 races.The Final RaceDuring a NASCAR Cup Series race on May 10 at Watkins Glen, Busch radioed in to his crew requesting medical aid after struggling with a sinus cold that was exacerbated by the intense G-forces and elevation changes at the upstate New York road course. Despite his condition, Busch continued to race and finished eighth.A Polarizing Figure in MotorsportsKnown as "Rowdy" and "Wild Thing" for his post-race fights, regular feuds with other drivers, and sometimes outlandish behavior, Busch stormed onto the Cup Series scene in 2005 by winning rookie of the year. Over his career, he won 63 Cup Series races and became one of the most recognizable figures in NASCAR.Legacy and FamilyBusch is survived by his wife, Samantha, and children Brexton and Lennix. His death marks the end of an era for NASCAR, as one of its most successful and controversial drivers has passed away at a relatively young age, leaving behind a legacy of remarkable achievements and memorable moments on the track.
#Kyle Busch #NASCAR #Richard Childress Racing
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Environment May 21, 2026

London Primary School Turns Flooded Playground into Climate‑Resilient Play Space

St John’s CofE Primary in Barnet, north London, transformed a flood‑prone tarmac playground into a …
The Flood‑Prone Playground That Stopped Kids From PlayingFor years the play area at St John’s CofE Primary was unusable after heavy rain; water pooled on the clay‑based tarmac, forcing teachers like Macci Dobie to dismiss children from the playground or even lift them out of puddles. The school’s location in a natural basin made the problem chronic and disrupted daily routines.Designing a Rain‑Garden Play Area with Trees for CitiesWhen parent governor Sarah Taggart launched a climate‑action plan, the school secured Department for Education funding to replace part of the tarmac with a sustainable drainage system. Trees for Cities landscape architect Alfie Davies led the design, installing stepping logs across a rain garden planted with ornamental grasses, shrubs, perennial flowers and a native bird‑cherry tree that tolerates both soggy and dry conditions.Rain garden drains excess water in about 10 minutes after a heavy downpour.Native planting supports pollinators and reduces the urban heat‑island effect.Stepping logs create a functional play element while guiding water flow.How the New Landscape Cuts Drainage Time and HeatThe soil‑based beds absorb runoff, replacing impermeable surfaces that previously caused standing water. By integrating vegetation that transpires water and provides shade, the playground also lowers surface temperatures, addressing the hotter summers projected for London under the climate crisis.Educational and Community Benefits of the Climate‑Adapted SpaceBeyond flood mitigation, the redesign serves as a living classroom. Trees for Cities runs a year‑long engagement programme where pupils monitor water cycles, identify native species and participate in tree‑identification walks. Teachers report higher joy levels and increased curiosity about nature among students.What This Model Means for UK Schools Facing Climate RisksThe success at St John’s provides a replicable template for schools in flood‑risk zones. With modest public funding and partnership with specialist charities, schools can turn vulnerable play areas into climate‑responsive assets, delivering safety, biodiversity and educational value while contributing to national goals on heat‑stress protection for children.
#St John's CofE Primary #Trees for Cities #Sarah Taggart
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Politics May 21, 2026

UN Court Affirms Workers' Right to Strike in Landmark Ruling

The International Court of Justice has ruled that workers' right to strike is protected under the I…
The UN Court's Landmark Ruling on Workers' RightsThe top United Nations court has ruled that workers and unions have the right to strike under a key international treaty, an opinion that could shape labour laws around the world.International Court of Justice (ICJ) President Yuji Iwasawa announced on Thursday that the court was "of the opinion that the right to strike of workers and their organisations is protected" under the International Labour Organization's (ILO) 1948 Freedom of Association treaty.The finding came in a 10-4 ruling by the court's 14-member panel, resolving a long-standing dispute between workers' and employers' representatives over whether the treaty – known as Convention 87 – implicitly protects workers' right to strike.The Legal Interpretation of Convention 87The ILO, a United Nations agency that sets global labour standards, had asked for the advisory opinion in November 2023 amid the disagreement over the treaty's interpretation.Although ICJ judges affirmed that the treaty enshrines the right to strike, they emphasised their opinion was narrow. The conclusion "does not entail any determination on the precise content, scope or conditions for the exercise of that right," Iwasawa clarified.Convention 87, which lays out protections concerning workers' and employers' freedom to organise, establish and join federations, has been ratified by 158 countries worldwide.The Court's Reasoning Behind the DecisionIn its 43-page advisory opinion, the ICJ reasoned that strikes are "one of the main activities engaged in and tools used by workers and their organisations to promote their interests and improve conditions of labour"."At the same time, freedom of association is instrumental in facilitating workers' organisations to take collective action to further and defend the interests of their members, including through the exercise of the right to strike," the opinion continued.The judges concluded that the right to strike is "in line with the object and purpose" of the convention, effectively ending what the ILO described as "a long-standing difference of views" over Convention 87 among employers and workers.Global Implications for Labor RightsWhile the ICJ ruling is not legally binding, many local courts view the ICJ's opinions as authoritative precedents. Labour advocates expect it will influence countries that have not yet recognised employees' right to strike.Harold Koh, who represented the International Trade Union Confederation, told the court the case was "about more than legal abstractions". "It will affect the real rights of tens of millions of working people around the world," he emphasized.The ILO noted that asking the ICJ to resolve such a disagreement was an "exceptionally rare" move, highlighting the significance of this ruling in international labor relations.Future of Workers' Rights WorldwideThis advisory opinion could lead to renewed efforts to strengthen labor protections in countries where the right to strike has been restricted or contested. The ruling provides international legal backing for workers' collective action.Employer groups may now face increased pressure to negotiate in good faith, knowing that international law supports workers' rights to organize and strike. The ruling may also influence future interpretations of other labor-related international conventions.As global labor markets continue to evolve, this ICJ opinion could serve as a foundation for addressing emerging challenges in workers' rights, including those in the gig economy and digital workplaces.
#UN #International Court of Justice #Workers' Rights
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Business May 21, 2026

Oil Markets on Brink of 'Red Zone' as Summer Travel Season Approaches, Warns IEA Chief

The International Energy Agency's executive director, Fatih Birol, warns that oil markets will ente…
The Impending Oil Crisis Oil markets are on the verge of entering a critical phase, often referred to as the 'red zone,' as the summer travel season approaches. According to Fatih Birol, the executive director of the International Energy Agency (IEA), this period of high demand will be exacerbated by dwindling oil stocks and a shortage of fresh oil exports from the Middle East. Current Market Challenges Birol highlighted that the current situation is precarious, with stocks eroding and no new oil coming from the Middle East. He emphasized that demand is increasing, mainly due to the travel season, and warned that if there are no improvements, the market could enter the 'red zone' by July and August. Potential Solutions and Impact Birol suggested that a full and unconditional reopening of the Strait of Hormuz could alleviate the crisis. He also mentioned that the IEA is open to releasing more strategic oil reserves, as they have done previously. The IEA chief stressed that the reputation of the Middle East as a secure supplier of energy has been damaged, which could lead to countries paying a premium for supplies from more secure sources and for renewable energy. Future Outlook and Predictions Birol predicted that governments around the world will review their energy strategies in the next few years and look for new options for fuel imports. He also anticipated that countries will turn to other energy sources, including renewables, nuclear, and coal. Domestically, energy production that makes economic sense is likely to get a push. Geopolitical Tensions and Negotiations The situation is further complicated by geopolitical tensions, particularly regarding Iran's nuclear program and the negotiations between Iran and the US. Pakistan, acting as a mediator, is facing difficulties in reaching a breakthrough. The Iranian supreme leader, Mojtaba Khamenei, has stated that Iran will not allow its stockpiles of highly enriched uranium to be exported to a third country.
#IEA #Fatih Birol #Oil Markets
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