Hezbollah-backed billionaire tapped as Lebanese PM-designate

Lebanese lawmakers voted Monday to designate billionaire businessman Najib Mikati as prime minister, tasked with forming a government and ending a year-long political impasse that has aggravated the country’s financial crisis.

One of the richest men in Lebanon, Mikati became a favorite for the post after he was endorsed by most of Lebanon’s political parties and also the powerful, Iran-backed militant Hezbollah group. Mikati was also endorsed by former Sunni prime ministers including Hariri, who abandoned efforts to form a government after failing to agree with Aoun on the Cabinet’s makeup.