The World Bank will grant Lebanon a $250 million loan that will be used to help ease electricity cuts in the crisis-hit country, the country's finance ministry said Thursday, the Associated Press reported. Lebanon has faced major electricity problems for decades, but the situation became worse following an economic meltdown that began in late 2019. The 14-month Israel-Hebzollah war that ended in late November also badly damaged electricity and other infrastructure in parts of Lebanon.

Lebanon’s new central bank governor vowed Friday that the institution will fight money laundering and the financing of terrorism and will work independently away from political intervention, the Associated Press reported. Karim Souaid, who was speaking after officially taking office in Beirut, added that he will work on restructuring the banking sector, public debt and returning money to depositors. Lebanon’s economy has been witnessing its worst crisis in its modern history since 2019 and the state must implement reforms demanded by the international community.

Israeli tech entrepreneur Moshe Yanai denied insolvency claims on Sunday, asserting that he holds significant assets through his investment firm, MII, YNetNews.com reported. According to a U.S. court ruling, MII’s portfolio is valued at approximately $1.1 billion — or several hundred million dollars at a minimum. Tech mogul Moshe Yanai denies insolvency, cites $1.1B MII portfolio in Tel Aviv court battle. Yanai made the argument in a request to halt legal proceedings, filed Sunday with the Tel Aviv Magistrate’s Court, in response to a bankruptcy petition by the investment fund Scintilla.

Dubai is weighing significant changes to its rules governing money managers to further burnish the city’s credentials as an emerging hub for hedge funds, Bloomberg News reported. The Dubai Financial Services Authority is undergoing a sweeping review of its slate of regulations with the goal of removing unnecessary regulatory burden and lowering barriers to entry, according to a spokesperson for the agency. The DFSA regulates the Dubai International Financial Centre, a hub for many fund managers. Already, the agency has proposed cutting minimum capital thresholds for some money managers.

Israel's banking regulator on Wednesday asked commercial banks to allocate up to 3 billion shekels ($841 million) through 2026 to fund relief for retail customers and to improve interest terms offered to clients hurt by the 16-month old war, Reuters reported.

Lebanon's new government will negotiate with the International Monetary Fund for a new programme and will work to deal with the country's financial default and public debt, according a policy statement approved by the cabinet late on Monday, Reuters reported. The statement said that the government would work for an economical revival that could only be achieved through restructuring the banking sector.