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Governor of Argentina Province Urges Lebanese Investments
The governor of Argentina's San Juan province Jose Luis Gioja has urged Lebanese businessmen to invest...
Source : naharnet.com | 15-Oct-2008 13:19

Investment supremo touts billions in property sales - mosty to non-residents
More than $4 billion worth of properties were sold in Lebanon in the first eight months of 2008 and the figure is expected to reach $5 billion by year-end, the head of the Investment Development Authority of Lebanon (IDAL) said Tuesday. "The policies of the central bank during the political and security crisis have apparently paid off.
Source : dailystar.com.lb | 15-Oct-2008 01:13

Lebanon's economy can weather the storm - Citigroup
In its first comment about the impact of the global financial crisis on Lebanon, Citigroup reiterated its optimism about the economic and financial outlook despite the global banking and financial turmoil, adding that the country's insulation is now perhaps its greatest asset amid the global turmoil, as reported by Lebanon This Week.
Source : dailystar.com.lb | 14-Oct-2008 01:19

Suleiman Invites Saudi Businesses to Invest in Lebanon
Lebanese President Michel Suleiman on Monday urged Saudi entrepreneurs to invest in his country during...
Source : naharnet.com | 14-Oct-2008 01:02

Lebanon Core Group Relieved Over Financial Situation
The Lebanon core group has expressed relief that the country was not suffering from the repercussions...
Source : naharnet.com | 13-Oct-2008 07:20

Sison proclaims US 'intention' to help Lebanon join WTO
"I cannot look in a crystal ball as to when Lebanon's accession to the WTO [World Trade Organization] will take place, but the United States is working with the Lebanese government and ministries with an aim to achieve this goal - the intention is there," US Ambassador Michele Sison told Friday.
Source : dailystar.com.lb | 13-Oct-2008 01:15

Lebanese banks cash in on worldwide turmoil
The credit squeeze in the United States, Europe and some of the oil-rich Gulf countries has convinced many Lebanese expatriates and Arab nationals to transfer parts of their massive assets to Lebanese banks, local bankers said Friday. "The deposit base in some Lebanese banks surged in the third quarter and this trend is continuing.
Source : dailystar.com.lb | 11-Oct-2008 01:14

4th Made in America Fair to Promote Business Ties with Lebanon
U.S. Commerce Assistant Secretary and Director General of the Commercial Service Hernandez and U.S....
Source : naharnet.com | 10-Oct-2008 07:10

Lebanon attracts 4 percent more foreign investment in 2007
A UN report released Thursday showed that Lebanon witnessed growth in investments and Arab capital inflows by approximately 4 percent to $2.845 billion in 2007. The World Investment Report 2008 (WIR 2008), which was issued by the Geneva-based UN Conference on Trade and Development, was made public during a news conference at the UN House building in Beirut.
Source : dailystar.com.lb | 10-Oct-2008 01:02

Lebanon sidesteps the crash of '08 - for now
Lebanon has thus far been spared the direct effects of the global financial meltdown, but even though it may be years before the full extent of the crisis can be measured, it is safe to say that no country will emerge unscathed. Provided a full-scale worldwide depression is not in the cards, however, it is also possible that this country could derive net benefit from the experience.
Source : dailystar.com.lb | 10-Oct-2008 00:47

Global financial crisis may put Beirut's cellular sell-off on hold
The global credit crunch and wait-and-see approaches by many Gulf Arab investors may prevent the privatization of Lebanon's cellular networks in the foreseeable future, some economists warned on Thursday. "This may not be the time to invite foreign and Arab companies to bid for the country's two cellular networks.
Source : dailystar.com.lb | 10-Oct-2008 00:32

Awdeh: Government Working to Steer Clear of Negative Effects of World Financial Crisis
Minister of the Displaced Raymond Awdeh has stressed that the government is working to improve Lebanon's...
Source : naharnet.com | 09-Oct-2008 13:09

Experts discuss ways to pump up the volume on the BSE
The head of the Higher Privatization Council said on Wednesday that listing the shares of privatized companies on the Beirut bourse would boost volume and increase liquidity in the stock market. "If we list the shares of the privatized cellular firms in the future then we will be able to stimulate the Beirut Stock Exchange [BSE]," Ziad Hayek told.
Source : dailystar.com.lb | 09-Oct-2008 01:06

IMF credits Banque du Liban for fending off credit crunch
The International Monetary Fund's (IMF) senior resident representative to Lebanon praised the country's central bank late Tuesday, saying the banking sector had few direct links to the current financial crisis and that Lebanon would likely prove more resilient than other emerging markets.
Source : dailystar.com.lb | 09-Oct-2008 00:51

Consumer prices rise by 8 percent in Lebanon
The prices of basic commodities in Lebanon soared by 8.59 percent in the first eight months of 2008, according to the Consumer Price Index published by Bank Audi's Weekly Monitor. "Throughout the eighth month of the year, inflation in Lebanon shot sharply upwards, after it was progressing at a more moderate rate over the past three months," it said.
Source : dailystar.com.lb | 08-Oct-2008 01:08

Beirut stock market tumbles as Gulf investors pull out
Stocks of the Beirut Stock Exchange (BSE) tumbled for a second week in a row amid a sharp global financial crisis that had an adverse effect on most bourses in the Middle East. The BLOM Stock Index fell by 3.41 percent on Tuesday with the value of traded shares reaching $11.296 million, an increase of 84.12 percent compared to Monday.
Source : dailystar.com.lb | 08-Oct-2008 00:53

Lebanon Bans Chinese Milk Products After Melamine Scandal
Lebanon has banned the import of all powdered milk products from China over a contamination scandal...
Source : naharnet.com | 07-Oct-2008 06:38

70-707070 Mobile Number Sold for $450,000
The MTC Touch phone number 70-707070 was sold for $450,000 during the first-ever auction in Lebanon...
Source : naharnet.com | 07-Oct-2008 01:15

Congestion limits growth in business at Beirut Port
Congestion at the Port of Beirut has become a major concern among traders, shipping companies and the Port Authority, despite the large revenues that are being generated from the rapid growth in the number of containers coming through the facility.
Source : dailystar.com.lb | 07-Oct-2008 01:14

Kassar Urges Authorities to Find Tripoli Bombing Culprits, Bring them to Justice
Head of the Economic Committee Adnan Kassar has condemned the "cowardly" bombing that targeted a bus...
Source : naharnet.com | 07-Oct-2008 01:00

Lights in Lebanon will stay off if Egypt wants too much for power - Tabourian
Energy and Water Minister Alan Tabourian said on Monday that the widely hoped-for delivery of Egyptian electricity to Lebanon depends to a great extent on prices. "If the prices offered by the Egyptian side are acceptable then we will work on the delivery of this power to Lebanon. However, if the rates are too expensive then.
Source : dailystar.com.lb | 07-Oct-2008 00:59

'Volatile Situation' in Lebanon Keeps Filipino Workers Away
Philippine labor officials said Sunday they were maintaining bans on sending Filipino workers to Lebanon...
Source : naharnet.com | 06-Oct-2008 22:09

Bidders part with $2.5 million for 33 vanity cell numbers
An auction of so-called "platinum" MTC Touch phone numbers in Beirut over the weekend raised more than $2.5 million in two hours. Friday night's sale at the capital's seaside Movenpick Hotel, held under the auspices of Telecommunications Minister Jebran Bassil, was the first of its kind in Lebanon.
Source : dailystar.com.lb | 06-Oct-2008 01:05

Lebanese cement deliveries rise by almost 8 percent in first half
Figures released by the central bank of Lebanon show that cement deliveries, a coincident indicator of construction activity, increased by 7.7 percent over the first half of 2008 as compared to the same half of 2007, on account of increased construction activity to meet the rise in real-estate demand prevailing during the covered period.
Source : dailystar.com.lb | 04-Oct-2008 01:13

IMF praises role of Banque du Liban in fending off credit crisis
A senior International Monetary Fund (IMF) official said Friday that Lebanon has managed so far to avoid the negative effects of the global credit crunch but urged the government to remain alert. "We are pleased to say that we have not seen any direct impact of this global crisis on Lebanon thanks to the good supervision.
Source : dailystar.com.lb | 04-Oct-2008 00:58

Hayek sees no reason to delay sell-off of cellular networks
Lebanon still has a good chance to privatize its cellular networks before the parliamentary elections in 2009, Higher Privatization Council President Ziyad Hayek says. "Technically there is nothing that prevents us from launching the auction of the cellular companies before the end of the government's term.
Source : dailystar.com.lb | 03-Oct-2008 01:11

Saudis Invest More Than $2 Billion in Joint Projects with Lebanon
The head of the Saudi-Lebanese Business Council has said that the body will launch in the near future...
Source : naharnet.com | 29-Sep-2008 07:11

Is Marx laughing in his grave right now?
Strange goings on in the world's financial markets and the international economic system as a whole has prompted concerns that a dark fate awaits the human race. And it is the darker side of human nature that is being blamed for the economic instability.
Source : dailystar.com.lb | 29-Sep-2008 01:01

Beirut bourse loses ground as investors fret storm clouds in US markets
Local trading on the Beirut Stock Exchange this past week was still governed by the adverse situation of the US financial markets as traders remained watchful, awaiting the finalization of the US Fed's $700 billion bailout plan and the respective consequence on their portfolios. This was reflected domestically by thin trading activity.
Source : dailystar.com.lb | 29-Sep-2008 00:46

Lebanon: Clear Skies
Lebanon's national carrier, Middle East Airlines (MEA), is bucking the international trend and looking...
Source : naharnet.com | 28-Sep-2008 07:14

Bassil Unveils Plans to Expand ADSL
Telecommunications Minister Jebran Bassil unveiled details of the second phase of high-speed ADSL internet...
Source : naharnet.com | 27-Sep-2008 07:22

Bassil plans to expand ADSL in Lebanon
Telecommunications Minister Jebran Bassil said on Friday his ministry is working on the second phase of high-speed ADSL Internet expansion. Bassil, who was speaking at a press conference, disclosed that over the past 18 months, the number of ADSL subscribers rose to 58,000 and efforts are under way to increase the number in the coming two years.
Source : dailystar.com.lb | 27-Sep-2008 01:07

Lights out: Lebanon faces looming power crisis
Oil prices have tripled since 2004. Electricity outages have doubled in Lebanon since 2005. Lebanon's electricity utility has been vulnerable to crude oil price shocks than ever. Consumers and businesses are spending two times their electricity purchase in this staggering situation.
Source : dailystar.com.lb | 27-Sep-2008 00:52

Privatization of Mobile Phone Networks: Window of Opportunity?
Pressure is growing on Lebanese authorities to push ahead with the privatization of the country's two...
Source : naharnet.com | 26-Sep-2008 13:21

BBAC posts profit rise of almost 41 percent
Bank of Beirut and the Arab Countries (BBAC) posted net profits of $14.9 million in the first half of 2008, up by 40.8 percent from $10.6 million in the first half of 2007. Net interest margin decreased by 4.4 percent to $ 22.6 million, while non-interest income rose from $5.2 million to $ 12.9 million year-on-year.
Source : dailystar.com.lb | 26-Sep-2008 01:12

Conference laments scarcity of women in Arab workplace
Only 25 percent of the workforce in the MENA region is comprised of women, of whom two-thirds work in soft sectors such as health and social services, while the labor market unfortunately doesn't value them, said Jussi Narvi, the representative of the European commission's delegation to Lebanon on Thursday.
Source : dailystar.com.lb | 26-Sep-2008 00:57

Lebanon's trade deficit rises on stronger euro
Lebanon's balance of trade deficit in the first seven months of 2008 widened by 38.4 percent to $6.904 billion from $4.990 billion in the same period of 2007. Bank Audi's Weekly Monitor, which released the figures from the Higher Customs Council, attributed the rise in the deficit to the appreciation of the euro.
Source : dailystar.com.lb | 26-Sep-2008 00:42

China Donates $3 Million to Lebanese Army, Other Projects
China has donated about $2,200,000 to Lebanon projects, in addition to $1,178,000 to help train Lebanese...
Source : naharnet.com | 25-Sep-2008 12:39

USAID Supports Orphanage in Broummana
The U.S. Agency for International Development (USAID) presented $50,000 to a Lebanese orphanage in Broummana,...
Source : naharnet.com | 25-Sep-2008 07:21

Bassil propose reduction of fees to set up land lines
Telecommunications Minister Jebran Bassil said Wednesday that he will submit to the Cabinet a proposal to reduce the land-line installation fee to LL50, 000 ($33) from the current LL200,000. Speaking to reporters at the Telecommunications Ministry, Bassil said that he already sent the proposal to the State Shura Council.
Source : dailystar.com.lb | 25-Sep-2008 01:05

MTC Touch to Auction off Easy-to-Remember Numbers to Help the State
Telecommunications Minister Jebran Bassil has announced during a press conference that mobile operator...
Source : naharnet.com | 24-Sep-2008 13:11

MTC Touch to auction off 'distinguished' mobile phone numbers
MTC Touch, one of two mobile operators in Lebanon, intends to hold the first-ever auction for "distinguished" cellular numbers and all of the proceeds will be used to update and expand the existing networks, Telecommunication Minister Jebran Bassil said on Tuesday.Speaking to reporters, Bassil said.
Source : dailystar.com.lb | 24-Sep-2008 01:16

Hout Reassures Lebanese: Global Financial Crisis Has Limited Effect on MEA
Middle East Airlines chairman Mohammad Hout has lauded Central Bank Governor Riyad Salameh's policies,...
Source : naharnet.com | 23-Sep-2008 07:10

'Cautious approach' spared Arab banks direct effects of subprime fallout
The prudent policies of Arab banks and financial institutions have allowed these entities to avoid the negative effects of the acute crisis that hit the stock markets in the United States and part of Europe, a leading Arab banker says. Addressing a large group of bankers that gathered at the Phoenicia InterContinetnal Hotel in Beirut.
Source : dailystar.com.lb | 22-Sep-2008 01:12

Construction in Lebanon increases by 26.5 percent
Figures released by the Order of Engineers of Beirut and Tripoli showed that construction permits totaled 6,074,843 million square meters in the first seven months of 2008, up by 26.5 percent relative to the same period of the previous year, according to Bank Audi's Weekly Monitor.
Source : dailystar.com.lb | 19-Sep-2008 01:14

Bassil Announces Plan to Install 4,000 More Phone Booths in Lebanon
Encouraged by increasing revenues from payphones, Telecommunications Minister Jebran Bassil has announced...
Source : naharnet.com | 18-Sep-2008 07:19