projects

BEIRUT, Lebanon, Aug. 21 (UPI) — The World Bank said Friday that the recent Israel-Hezbollah conflict has severely disrupted Lebanon’s fragile recovery, predicting a 6.4% contraction in the crisis-ridden economy this year and a rise in inflation to 17.5%.

The international financial institution said in a report that Lebanon entered 2026 “on firmer footing,” after an estimated 4.2% expansion in real gross domestic product in 2025.

It was the country’s fastest growth since the onset of the 2019 financial crisis, driven by stronger consumption, investment and tourism, as well as improved high-frequency indicators, according to the report.

It noted that the rebound was sharply interrupted by the military escalation between Hezbollah and Israel on March 2, causing further damage to housing and infrastructure, displacing some 1.2 million people, disrupting supply chains, and severely affecting tourism and domestic demand.

Dahlia Khalifa, World Bank Middle East director, said Lebanon’s recovery has been “sharply set back by the renewed conflict,” adding to an already severe social and economic crisis.

The report projects that Lebanon’s economy will contract by 6.4% in 2026, while inflation is expected to rise to 17.5%, driven by supply disruptions, higher shipping costs and rising oil prices, further eroding purchasing power.

According to the latest casualty count released by the Lebanese Health Ministry, some 4,348 people have been killed and 12,703 others injured since March 2. Israel’s intensive military campaign has caused massive destruction to property and infrastructure, with some 70 border villages in southern Lebanon reduced to rubble and rendered uninhabitable.

Lebanese Finance Minister Yassine Jaber has estimated that the combined direct and indirect losses resulting from the conflict in Lebanon since 2023, including the 2024 and 2026 escalations, could reach $20 billion.

Lebanon was still struggling to recover from a protracted financial crisis — described by the World Bank as a “deliberate depression” and the worst globally since 1850 that limited access to bank deposits, caused prices to soar, unemployment to soar and public services to deteriorate.

Moreover, the population faced eroded purchasing power after the Lebanese pound lost more than 95% of its value against the U.S. dollar,

The World Bank report said the government recorded an overall surplus of 3.9% of GDP in 2025. However, rising humanitarian and reconstruction needs after the recent war, pressure to increase public sector wages and slower revenue growth are expected to place additional strain on public finances in the second half of this year.

The report noted that continued progress on reforms remains essential to restoring confidence, reviving growth and supporting a durable economic recovery.

“Advancing reforms — particularly on banking sector restructuring and fiscal management –will be critical to restoring confidence, protecting stability and mobilizing the financing needed for reconstruction and recovery,” the World Bank’s Khalifa said.

The report noted that the banking sector remains deeply weakened despite some progress in advancing its restructuring agenda and warned that the exchange rate could come under pressure “if foreign inflows decline or conflict-related shocks persist.”

The head of one of Hollywood’s largest talent agencies warned state leaders that a new budget bill threatens job gains from California’s film and TV credit program.

Legislators earlier this year passed a provision in the state budget that extends limitations on corporate tax credits, including a $5-million state tax credit cap each year.

But film industry advocates say the corporate tax credit cap will hurt film producers and undercut the effectiveness of the state’s expanded film and TV tax credits.

Lawmakers more than doubled annual funding for the program last year to $750 million in an effort to boost jobs and stem the exodus of film work from California.

CAA Chief Executive Bryan Lourd called for state leaders to create an exemption for tax credits earned under the expanded film and TV program.

“Without this fix, we risk destabilizing a program that is critical to keeping film and television production in California and the thousands of jobs it supports,” Lourd wrote in an Aug. 11 letter to Gov. Gavin Newsom, California State Assembly Speaker Robert Rivas (D-Hollister) and President Pro Tempore Monique Limón (D-Santa Barbara).

“California must make itself competitive with the rest of the country and the world if it hopes to have a thriving entertainment ecosystem,” Lourd wrote. “Honoring commitments that have already been made to the entertainment industry is an essential step in achieving that goal.”

Film industry advocates expected producers would be exempted from the tax credit cap.

“It’s a reversal of California economic policy as it relates to the entertainment industry in an unhelpful and uncompetitive direction,” said Hilary Krane, CAA’s chief legal officer, in an interview. . “It undermines people’s ability to plan for the economics of the program because they all counted on a certain amount coming in under the previous rules that they were entitled to and had, but now can’t use.”

Last month, more than three dozen California lawmakers signed a letter calling attention to the issue. Hollywood unions also have raised alarm.

“The result of the changes is that production companies will lose the full value of credits already earned in exchange for creating middle-class entertainment industry jobs and other economic benefits to the State,” the Entertainment Union Coalition said last month.

Nick Miller, Rivas’ spokesperson, said the state Assembly is taking a hard look at the issue.

“Our lawmakers strengthened California’s film and TV jobs program last year and will keep fighting for creative industry workers,” Miller said in an email.

Newsom’s office did not immediately return a request for comment.

Time is running out for a fix to happen this session, which ends in less than two weeks.

State Assemblymember Rick Chavez Zbur (D-Los Angeles) said state leaders are working on introducing legislation soon to address the issue.

Already, tens of thousands of jobs have come back to Southern California due to the modernization of the film and TV tax credit program, he said.

“We just saw the beginning of that resurgence and we don’t want to nip that in the bud,” Zbur said in an interview.

Reporting from Sacramento — A Bay Area lawmaker wants to knock down what he believes is a key barrier to California meeting its ambitious climate change goals: one of the state’s most prominent environmental laws.

Assemblyman Tim Grayson (D-Concord) has introduced legislation that aims to make it harder for lawsuits filed under the California Environmental Quality Act, or CEQA, to stop construction of roads and public transit.

CEQA requires developers and public agencies to disclose a project’s environmental effects and take steps to reduce or eliminate them. But Grayson says the law can grind to a halt transportation projects that are needed to reduce the amount of cars on the road.

His legislation, Assembly Bill 1905, would make it easier for road or transit projects included in a state-approved regional growth plan to begin construction before any CEQA litigation is resolved.

Since state climate regulators will have already signed off on those road and transit projects when approving a region’s growth plan, the projects shouldn’t face multiple threats of environmental litigation, Grayson argues.

“What I’m looking at is how do we cut down on traffic congestion where we’re just spilling greenhouse gases, creating clouds of greenhouse gases and impacting the environment negatively,” Grayson said.

But Grayson’s approach is already attracting concerns from high-profile environmental organizations. Environmental groups often credit CEQA, which took effect in 1970, with preserving California’s natural beauty, and argue it is complementary — not contrary — to the more recent climate change laws.

A court should rule in a CEQA lawsuit before construction starts, said Kyle Jones, a policy advocate for Sierra Club California.

“It just seems prudent that you’ve gotten all your legal barriers out of the way,” Jones said.

California has many laws that force private developers and public agencies to examine the environmental impacts of their housing, commercial, industrial and transportation plans and projects.

In 2008, the state Legislature began requiring regional governments, including the Southern California Assn. of Governments, to draw up plans to accommodate population growth and reduce greenhouse gases with proposals for new housing and transportation primarily in already developed areas. The goal is to reduce sprawl and emissions from long commutes. Regional governments are now revising their plans to comply with the state’s new aggressive targets to cut carbon emissions by 40% of 1990 levels by 2030.

But actual growth doesn’t have to follow the plans, and individual projects can stall for many reasons, including environmental litigation. Under Grayson’s bill, however, any road, transit or other transportation project included in an approved regional climate plan would receive relief in potential CEQA lawsuits.

Currently, a court can stop construction on a project if the judge finds its required CEQA analysis failed to account for all effects on the environment. Under Grayson’s bill, a court could do so only if the project was found to have serious life or safety risks.

State lawmakers have approved this legal standard before to speed the development of a new Sacramento Kings basketball arena. Those rules weren’t tested in a lawsuit against the arena. But state and local officials have said the legal standard allowed construction to go forward without fear of litigation tying up the project and potentially costing the city the team.

In Los Angeles, Grayson’s bill could affect large road and transit projects including a Metro Gold Line extension into eastern Los Angeles County and tunnels through the Sepulveda Pass.

But Sierra Club California and the Natural Resources Defense Council are among the environmental organizations that believe the bill goes too far. State climate regulators don’t heavily scrutinize individual projects when approving regional growth plans, representatives of both groups said.

For instance, a judge might find that a transportation project’s environmental review didn’t account for all the effects the development could have on air quality, but under AB 1905 that judge couldn’t stop the project because of it, said David Pettit, a senior attorney with the Natural Resources Defense Council. Without the threat of halting construction, agencies won’t need to take seriously any subsequent demands to improve the air surrounding the project, he said.

AB 1905 “may look good on its face, but it’s fantastically unrealistic when you look at the effects of when concrete is already in the ground,” Pettit said.

Grayson said the inspiration for his bill came from the California Transportation Commission, a state agency that advises Gov. Jerry Brown and the Legislature on transportation policy and spending. In its most recent annual report, the commission recommended an idea similar to Grayson’s bill as a way to speed up project construction.

The recently passed gas tax and other fee increases are expected to bring in more than $5 billion annually for road repairs and mass transit upgrades. Grayson said it’s important to spend that money quickly, and making it easier to defend against CEQA lawsuits is one way to do it.

“If we’re ever going to make a huge impact it is going to be now with the amount of revenue at our disposal,” he said.

liam.dillon@latimes.com

@dillonliam

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The government plans to enact a special law this year to designate special zones for investment projects related to artificial intelligence (AI), the presidential chief of staff said Monday, as Seoul seeks to accelerate their implementation.

Presidential chief of staff Kang Hoon-sik unveiled the plan at a press briefing following a meeting presided over by President Lee Jae Myung to assess progress on the projects.

The Lee administration announced the “three megaprojects” in late June that outlined plans for large-scale investments in a semiconductor production cluster, physical AI and AI data centers in regional areas.

Under the chip cluster project alone, the two leading chipmakers — Samsung Electronics Co. and SK hynix Inc. — have pledged to invest a combined 800 trillion won (US$564.9 billion), marking the single-largest investment plan to date in the southwestern city of Gwangju and the surrounding Honam area. The initiative also includes large-scale investments in Chungcheong Province and the southeastern Yeongnam region.

Through the envisioned special law on megaproject zones, the government will help streamline licensing and approval procedures, as well as environmental impact assessments, the chief of staff said.

The special law will also allow the government to swiftly establish infrastructure for electricity and water supplies, as well as living conditions for workers, including transportation, housing and education, Kang said.

At the start of the meeting, Lee urged the government to make every effort, including through deregulation, to implement the investment initiative as soon as possible.

Lee said all necessary administrative steps should be pursued simultaneously to shorten the time needed to implement the initiative while stressing that regulations should also be improved to ensure the implementation can be carried out as quickly as possible.

“We are in a situation where we must go beyond being speedy and move with the speed of lightning,” the president said.

He also instructed officials to transfer the functions of a military airport in Gwangju to other temporary facilities by 2028 to facilitate the speedy transformation of the regional airport into a semiconductor production hub.

The government earlier designated the military airport as the site for the envisioned chip cluster.

The ultimate goal of the investment initiative should be to distribute the pillars of growth across the country and make regional areas new centers of future industries, the president insisted.

“I hope that benefits from achievements garnered through the capabilities of the entire community will not be limited to certain companies or regions,” Lee said.

He said the following year should be a “golden time” that will open up a totally new world for South Korea depending on “how we prepare,” urging officials to make every effort.

Kang said that the government plans to complete the transfer of the Gwangju military airport’s functions to temporary facilities by 2028.

The government will also kick off the implementation of the investment projects in the Chungcheong and Yeongnam regions this year, worth 246 trillion won and 107 trillion won, respectively, he said.

Copyright (c) Yonhap News Agency prohibits its content from being redistributed or reprinted without consent, and forbids the content from being learned and used by artificial intelligence systems.

BREAKINGBREAKING,

Progressive advocate overcomes more than $60m in spending to defeat pro-Israel Congresswoman Haley Stevens.

Abdul El-Sayed, a progressive public health advocate, has won the Democratic nomination for the United States Senate, overcoming more than $60m in campaign spending, mostly from pro-Israel groups, NBC has projected.

The result on Tuesday represents an enormous blow to the American Israel Public Affairs Committee (AIPAC), which led the way in the effort to defeat the pro-Palestinian El-Sayed, backing his opponent, US Congresswoman Haley Stevens, with more than $30m.

El-Sayed will face former Republican Congressman Mike Rogers in November. The race is considered one of a handful of competitive Senate contests in the November midterms and could determine which party controls the chamber for the rest of President Donald Trump’s term.

If El-Sayed – who is of Egyptian descent – wins in November, he would become the first Muslim senator in US history.

Tuesday’s result in Michigan – a swing state that voted for Trump in 2024 – will have major implications for the Democrats’ policies on conflicts in the Middle East.

El-Sayed recognises Israel’s atrocities in Gaza as a genocide and argues that money spent on conflicts that benefit Israel should be invested in local communities in the US to address healthcare, housing and infrastructure problems.

More to come…

Protesters threw eggs at lawmakers’ vehicles outside Albania’s parliament, demanding changes to laws allowing tourist resorts in protected areas.

Thinking back on the last two years of his life full of album releases, filming schedules and tour dates, Finn Wolfhard requires squint-inducing concentration to keep it all straight.

“Jesus, a lot has happened,” he says, looking surprised. That’s an understatement.

In that time, the 23-year-old not only finished filming the Netflix hit show “Stranger Things,” which catapulted him to global stardom, and promoted the final season upon its premiere. He also released his feature film directorial debut (“Hell of a Summer,” co-directed with Billy Bryk, which hit theaters in April 2025). Then, he starred in another movie (A24’s creature feature “The Legend of Ochi”), directed a posthumous George Harrison stop-motion music video, wrote, recorded and put out his first solo album (“Happy Birthday”), and embarked on a 22-date tour before recording a new album.

On a video call from his family home in Vancouver, Canada, where he lives with his parents and older brother, he’s chatting about the release of that record, the eclectic, guitar-driven “Fire From the Hip,” which dropped Friday.

“I think it’s a nice day?” he offers when I ask what’s happening in Vancouver. “I don’t know. I’ve been in my basement studio all day, so I don’t … I think it’s nice.”

He’s been down in the basement doing press calls like this, he explains, undoubtedly a familiar routine after so many years in the limelight. He wears a baseball cap and an oversize brown sweater, tugging on the sleeves while he ponders.

Even if Wolfhard is exhausted by the press marathon, he doesn’t show it. He’s excited for the chance to be known on his own terms. He never fails to express gratitude for the projects that afforded him recognition and opportunity, but he’s ready to “take control of the narrative.”

“I spent my whole childhood standing on marks that other people told me to stand on and saying lines that other people told me to say,” he says. “Why wouldn’t I want to make my own stuff?”

Being in control also means being the face of the operation. Before “Happy Birthday” and “Fire From the Hip,” Wolfhard released a total of two records and an EP, plus a whole bunch of singles, with his previous bands, Calpurnia and the Aubreys. Being in a band was a natural fit for Wolfhard, who thrives in an ensemble where he can “hide behind the band name.”

Touring last year was his first time seeing his own name on the marquee.

“It’s just straight up me, and if I suck, I suck,” he laughs. “It’s not like I can be like, ‘Oh, man, we’re having disagreements in the band.’ It’s like, no, that’s you. So there was a little more pressure early on.”

Finn Wolfhard released “Fire From the Hip” on Friday.

(Victoria Stevens)

Stepping into the spotlight required Wolfhard, who admits he shies away from conflict, to own both the pressure and the power of being the one audiences came to hear.

When he got sick and had to cancel a show in Portland, Ore., he remembers feeling crushingly sad “letting down” his fans and bandmates — who, of course, assured him it was outside of his control and urged him not to be so hard on himself.

Wolfhard introduced many of the songs that ended up becoming “Fire From the Hip” to his bandmates while they were still on tour, and he says playing them live “cultivated the spirit” of the eventual recordings. Despite his collaborative ethos, there was a moment during the process where he had to learn how to put his foot down in real time.

“I remember suggesting something and people being like, ‘Ah, I don’t know if I want to do that.’ And I was like, ‘No, you don’t get to do that to me. It’s my record,’” he remembers. “It was very innocent — I don’t think there was much ego on either side. But I think I maybe set up too collaborative of an experience that day.”

“I think I sometimes make it feel like a democracy, which it is in a lot of ways,” he adds. “But also, in the end, it is up to me.”

That thought is echoed in the album’s cover art, an image of two miniature Finn Wolfhards facing off, donning colonial garb and brandishing weapons. It’s meant to represent dueling impulses inside of him, he explains.

Wolfhard, a true-blue music nerd, has been described online as an archetypical example of the “child of a Gen X cool dad,” in the same vein as Olivia Rodrigo. (His dad, a former screenwriter turned lawyer and Indigenous rights researcher, does sound cool, but it was his mom who first introduced him to the Beatles. His parents apparently met over a Stone Roses record.)

That sensibility is evident in his musical influences — “I wanted everything [on drums] to sound like the first two Wilco records,” he says — and in his approach to recording. “Happy Birthday” was recorded almost entirely on four-track cassette tapes, while “Fire From the Hip” uses 24-track reel-to-reel.

The album runs the gamut from its cheeky, surf-rock opener “I’ll Let You Finish” (yes, that is a reference to Kanye West’s infamous speech at the 2009 VMAs) to more ’90s alt-inspired tunes to a surprising dose of straightforward country-folk.

Lyrically, Wolfhard divides his songs into two categories: the “very personal” and the story songs written around books he was reading (“Knockemstiff” by Donald Ray Pollock) or quotes that made him laugh. The personal themes he explores are exactly what you would expect from an early-20s rocker raised in the public eye — namely, relationship expectations and existential fears about the future.

On the nostalgic piano ballad “Good Morning,” he imagines what it might be like to settle down somewhere “with a dog and a wife.”

“I haven’t lived that part of my life yet,” he says now. “So I can really easily get lost in thinking about what that looks like.”

When it comes to sharing his music, especially the more vulnerable tracks, Wolfhard knows his “Stranger Things” fame is the elephant in the room. Anything he sings can and might be used against him in the court of public opinion.

“I could either kind of say nothing and be totally private, because it is scary knowing that everything I say, at least one person will take it a certain way that I wouldn’t want them to. But I just don’t have the control,” he says.

“So if I don’t have the control, then there’s nothing really that I can do, other than try to be as truthful and passionate and well-meaning as I possibly can, you know?”

The double-edged sword of fandom hasn’t stopped Wolfhard or his musically-inclined “Stranger Things” co-stars from pursuing this path. Fellow Hawkins alums Joe Keery (who releases music under the moniker Djo) and Maya Hawke are indie darlings in their own right, and Wolfhard has previously referred to Keery as a mentor. None of them face the unique challenge of relatability in quite the same way, however.

“I’m aware that my specific problems are maybe not as relatable because of how specific of a life I have,” he said. “The only thing I can hope for is that some other person out there listens to it and relates to the same things that I do.”

Sometimes an air of wistfulness accompanies these admissions. When asked about how he feels about Los Angeles, he tells me that it’s complicated: “I think if I wasn’t a young actor, it would be a very different situation.” His favorite parts of the city are its repertory cinemas and lush neighborhoods like Mount Washington, where his godfather resides, because they look the most like Vancouver.

That said, he’s not through with Hollywood. He’ll be back in L.A. for an Oct. 13 show at the Fonda Theatre, and acting and directing are still on the agenda. He would like his next film project — other than the Matt Johnson and Bong Joon Ho projects he’s already committed to, of course — to be something more “personal.”

For now, though, the focus is music. Wolfhard launches a new tour this month, and he’s most looking forward to “doing dumb s—” with his friends.

He tells a quick story to illustrate: When he and the band last toured in Glasgow, Scotland, he was trying to leave the venue without being noticed. (“I have a hard time dealing with fan interaction,” he says.)

“We kind of made it into this joke thing, knowing it wouldn’t work, where me and Rand, my guitarist, were like, ‘let’s switch clothes.’ Rand pretended to be me and I pretended to be Rand,” he says. Miraculously, it worked up until the “very last second” before they stepped on the bus.

“I couldn’t help myself,” he says: He instinctively made eye contact with someone in the crowd. “They did a double take, like, ‘Wait, what?’”

It sounds like a scene straight out of “A Hard Day’s Night” — or maybe inspiration for his next film.

“I’m pretty in my head about things and want them to be a certain way,” he says. “The thing that I have to remind myself all the time is that, like, dude, you’re with your friends, you’re playing music — it’s the best.”

In this week’s episode of “The De Los Podcast,” hosts Fidel Martinez and Suzy Exposito sat down with actor Xolo Maridueña to chat about his East L.A. upbringing, the importance of Latino representation in his career and a litany of projects he has in the works.

Born and raised in El Sereno, Maridueña was exposed to the arts at a very young age through local community arts hubs Casa 0101 and the Boyle Heights Art Conservatory, where his mother, Carmelita Ramírez-Sánchez, now serves as executive director.

The 25-year-old actor credited his mom, who also previously worked as a radio DJ for decades in L.A., for encouraging him to explore a creative career.

“She was in the music world at a time when that wasn’t really a thing as a Latina woman,” Maridueña said. “She met so many roadblocks and overcame those that when it came time to for her to eventually raise her own family, she understood the want to try something that was outside of what the education system would deem successful. As a Latina, she also instilled these values of remaining curious, questioning certain traditions and the ways our experiences are affected by some systems that are larger than ourselves.”

He also touched on what it was like being the first Latino lead in a live-action superhero film in “Blue Beetle” — and the importance of continued Latino representation in Hollywood.

Xolo Maridueña is featured on “The De Los Podcast.”

(L.A. Times Studios)

“It was such a wild ride doing something like ‘Blue Beetle,’ that was the first in a lot of categories… But once the movie came out, it was so heartwarming to see that there were already like 10 other Latino superheroes that were making their debuts on the screen,” Maridueña said. “[Filming the movie] was the first time I had witnessed some much of the crew being Latino, or just being diverse — there were a lot of women and queer folks on that set.”

Having worked on hit series like “Parenthood” and the Netflix phenomenon “Cobra Kai” in addition to his theatrical roles, Maridueña wants to help provide an avenue for fellow Latino artists to succeed.

“I just hope [that] with this body of work, I can help open the door and prop it open for everyone else,” he said.

The conversation with Maridueña wrapped with him discussing the litany of projects he has coming out in the near future, including a leading role in the film “Dog Years” alongside Xochitl Gomez, a part in the Al Pacino-led movie “Killing Castro” and a spot in the upcoming season of Netflix’s live-action adaptation of “One Piece.”

He will also feature alongside Sandra Bullock and Nicole Kidman in the upcoming sequel to the witchy 1998 film “Practical Magic,” which is set for release Sept. 11.

“It’s been a blessing to expand not only the types of people I’ve gotten to work with, but [also] the genres and types of characters I’ve gotten to bring on to the screen,” said Maridueña. “Projects like ‘One Piece’ are so wonderful for the reach and then movies like ‘Dog Years’ and ‘Killing Castro’ are just as fulfilling in the sense that because they get to be smaller productions, the cast and crew have a bit more ownership of what they’re doing.”