Lebanese lawmakers have elected army chief Joseph Aoun as the country’s new president, bringing an end to a two-year political vacuum. This significant development is seen as a crucial step in addressing Lebanon’s ongoing financial crisis.

On Thursday, Aoun, who is turning 61 on Friday, entered the parliament to take the oath of office, receiving widespread applause. For the occasion, he chose to wear a dark suit and blue tie, in contrast to his usual military uniform.

Aoun declared, “Today marks the beginning of a new chapter in Lebanon’s history.”

As president, Aoun faces immense challenges, including overseeing a ceasefire in southern Lebanon and appointing a prime minister capable of executing the necessary reforms required by international creditors in exchange for a vital financial bailout.

He emphasized his commitment to promptly initiating parliamentary consultations to appoint a new prime minister and vowed to restore the state’s exclusive control over weapons following the devastating war this autumn between Israel and Hezbollah, a Shiite militant group.

Aoun stated, “I will call for a discussion on a comprehensive defense strategy that covers diplomatic, economic, and military aspects, aimed at enabling Lebanon to remove the Israeli occupation and counter its aggression.”

In his hometown of Aishiyeh in southern Lebanon, Aoun’s supporters celebrated the election with enthusiasm. Residents gathered outside a church decorated with his portrait and Lebanese flags. One elderly resident, Salim Nasr, expressed hope for peace, saying, “We want calm in the country. We hope he can achieve even half of what he has promised.”

Lebanese Parliament Speaker Nabih Berri confirmed Aoun’s election after 99 out of 128 lawmakers supported his candidacy. Aoun becomes Lebanon’s fifth army commander to assume the presidency and the fourth consecutive one under Lebanon’s power-sharing system, which designates the president as a Maronite Christian and military leaders to this post.

While the powers of the president have been reduced since the end of Lebanon’s civil war, the position remains vital for overseeing consultations on appointing a new prime minister. Lebanon has been without a president since October 2022, following the end of Michel Aoun’s term, and a lack of consensus between pro- and anti-Hezbollah factions in parliament had previously blocked several attempts to elect a new president.

Despite early opposition from pro-Hezbollah bloc members who spoiled their ballots in the first voting round, Aoun was ultimately elected in the second round after meeting with their representatives.

Internationally, Aoun’s election was hailed as a positive development. Iranian Foreign Ministry spokesman Esmail Baghaei called it “a success for all of Lebanon,” while Israeli Foreign Minister Gideon Saar expressed hopes that it would contribute to stability. Palestinian President Mahmud Abbas also expressed confidence that Lebanon would overcome the repercussions of Israeli aggression under its new leadership.

Aoun’s candidacy had significant backing from the United States and Saudi Arabia, with the US embassy in Beirut expressing its commitment to work closely with the new president. EU leaders, including Ursula von der Leyen and French President Emmanuel Macron, saw the election as a hopeful step toward Lebanon’s sovereignty and prosperity, while UN Secretary-General Antonio Guterres emphasized the importance of forming a new government swiftly.

With mounting international pressure and only 17 days left for the completion of the ceasefire agreement between Israel and Hezbollah, foreign envoys from the US, Saudi Arabia, and France visited Beirut, underscoring the urgency of electing a new president.

The People’s Republic of China has confirmed its willingness to review Nigeria’s request to expand the existing bilateral currency swap agreement.

This update was shared by China’s Foreign Minister, Wang Yi, during a briefing with State House Correspondents following his meeting with President Bola Tinubu at the Aso Rock Villa, Abuja, on Thursday.

The currency swap, initially signed in 2018 between the People’s Bank of China and the Central Bank of Nigeria, was valued at CN¥15 billion, which amounted to approximately N720 billion (roughly US$2.5 billion at the time). The deal was designed to reduce Nigeria’s dependence on the US dollar, stabilize its foreign reserves, and foster increased trade and investments between the two countries.

Wang Yi emphasized the positive momentum in financial relations between the two nations and invited Nigeria to explore opportunities in issuing Panda bonds in China. Panda bonds are renminbi-denominated bonds that allow foreign entities to raise capital within China’s domestic bond market. This move would provide Nigeria with a direct channel to China’s liquidity and investor base, offering a diversified funding source and protection against exchange rate risks.

He further explained that issuing Panda bonds could provide Nigeria with additional revenue streams to support infrastructure projects, such as the modernization of the country’s railway system.

Wang Yi said, “We are pleased with the ongoing cooperation, and regarding Nigeria’s interest in increasing the currency swap agreement, we will give it favorable consideration. Nigeria is also invited to issue Panda bonds, as we have full confidence in its economic credibility.”

Additionally, China’s financial backing has supported Phase III of Nigeria’s railway modernization, a tangible example of the growing bilateral cooperation. Wang invited further inquiries about joint initiatives by consulting the Chinese Embassy.

The Foreign Minister also voiced China’s commitment to backing Africa’s security efforts. Both Nigeria and China reject external interference in Africa’s security matters, advocating for African-led solutions to regional challenges. Wang Yi reiterated China’s support for initiatives aimed at strengthening peace and security in Africa, including a CN¥1 billion military assistance package for training 6,000 military personnel and 1,000 law enforcement officers across the continent.

China will continue to support the African Standby Force and contribute to the ongoing peacekeeping operations across Africa. In his remarks, Wang emphasized the importance of multilateralism, the protection of African nations’ rights, and Nigeria’s pivotal role in regional security, particularly in the West African and Sahel regions.

Nigeria’s Foreign Minister, Yusuf Tuggar, echoed the importance of self-reliance in addressing security challenges. He expressed Nigeria’s desire to work with China to develop domestic military production capabilities, rather than relying on private military companies.

Wang’s visit further solidifies the growing strategic partnership between China and Nigeria, with an emphasis on enhancing trade, agriculture, finance, and mutual prosperity.

A powerful earthquake in China’s remote Tibet region killed at least 126 people and collapsed “many buildings” on Tuesday, state media reported, with tremors also felt in neighbouring Nepal’s capital Kathmandu and parts of India.

Videos published by China’s state broadcaster CCTV showed destroyed houses with walls torn apart and rubble strewn across the ruins in the aftermath of the earthquake.
The quake struck Dingri county with a magnitude of 6.8 near the border with Nepal at 09:05, according to the China Earthquake Networks Center (CENC).

While earthquakes are common in the region, Tuesday’s quake was the most powerful recorded within a 200-kilometre radius in the last five years, the CENC added.
The US Geological Survey reported the tremor as magnitude 7.1.

Thousands of rescuers arrived Tibet to continue the search for survivors, More than 400 people have been rescued, Chinese state media says.

Videos published by state broadcaster CCTV on Wednesday showed rescue workers pulling injured victims from the rubble of collapsed buildings and carrying them to safety.

Footage also showed a man in a dusty, thick winter coat carrying a crying child piggyback as a rescue worker draped a jacket over him.
At least 126 people have been confirmed dead and 188 others injured in the Tuesday morning quake that struck rural, high-altitude Tingri county, about 80 kilometres north of Mount Everest near China’s border with Nepal.

More than 3600 houses have collapsed potentially leaving thousands without shelter and over 30000 residents have been relocated, the official Xinhua news agency said, adding that the search for trapped victims is ongoing.
“Rescuers are also racing against time to set up tents for relocated residents in an area where temperatures are forecast to drop,” it added.

The temperature in Tingri is currently minus 11 degrees Celsius, according to the China Meteorological Administration. The county sits at an average altitude of 4500 metres above sea level.

Authorities said more than 12000 people, including firefighters, soldiers, police officers and professional rescuers had been deployed, Xinhua reported.
Aid including tents, quilts and cold-weather equipment had been dispatched by central authorities, it added.

When tourist Meng Lingkang arrived in the town of Lhatse, 65 kilometres from the epicentre, he saw “the buildings had cracked open”.
“Some of the older houses collapsed, and a large part of the buildings made from bricks had cracked open, with big fissures,” the 23-year-old told AFP.
“There were quite a few (rescue vehicles). One after the other they arrived,” he added.

While strong tremors were felt in Nepal, no major damage or casualties were reported, an official from the National Emergency Operations Centre confirmed only “minor damages and cracks on houses”.

The tremors on Tuesday morning, which sent many Kathmandu residents running out of their houses, brought back memories of the deadly 2015 quake. The magnitude 7.8 earthquake hit near Kathmandu, the capital of Nepal, killing nearly 9,000 people and injuring more than 20,000.

“In 2015, when the earthquake hit, I could not even move,” Manju Neupane, a shop owner in Kathmandu said . “Today the situation was not scary like that. But, I am scared that another major earthquake may hit us and we will be trapped between tall buildings.”