Zawya.com - Lebanon News

Fransabank: Economic Buletin (1Q-2013)

Wed, 19 Jun 2013 11:33:00 GMT

The Lebanese economy has witnessed a retreat in its economic activity in the first quarter of 2013 relative to the first quarter of 2012, due to the regional turmoil in several Arab countries, especially in Syria that is severely affecting the Lebanese economy, amidst growing domestic political tensions. Lebanon's major economic indicators are presented in the following: - Construction permits decreased by 21.1%.- The number of real-estate sales transactions decreased by 18.9%.- The number of tourists decreased by 12.5%.- The number of passengers at the Beirut-Rafic Hariri International Airport (HIA) increased by 10.4%.- The value of cleared checks decreased by 0.6%.- The fiscal deficit decreased by 89% to USD 17.9 million in January 2013.- The net public debt increased by 6.8%.- Inflation rose by 3.71%.- The Central Bank of Lebanon's gross FX assets increased by 9% to USD 35.3 billion.- The banking sector's total assets increased by 7.4% to USD 155.4 billion.- Market capitalization of Beirut Stock Exchange (BSE) increased by 0.5% to USD 10.9 billion.- The trade deficit decreased by 10.4%.- Capital inflows decreased by 4.29% to USD 4.23 billion.- The balance of payments recorded a deficit of USD 62.2 million.- Economic growth is estimated at 2% in 2013 and 4% in 2014 according to the International Monetary Fund (IMF).

Banque Audi: MENA Weekly Monitor (14-Jun-13)

Wed, 19 Jun 2013 08:05:00 GMT

This is a PDF report.

QFCA: The Global Financial Centres Index 13 (Mar-2013)

Tue, 18 Jun 2013 06:38:00 GMT

TheGFCIprovidespro?les,ratings andrankings for79?nancial centres,drawingontwo separate sourcesofdata – instrumentalfactors(external indices) andresponsestoanonline survey. TheGFCIwas?rstpublishedby Z/Yen GroupinMarch2007andhassubsequentlybeenupdatedevery sixmonths. Successive growthinthenumberofrespondents anddata has enabledustohighlightthe changingpriorities andconcernsof?nancialprofessionals overthistime,particularly since?nancial crises begantounfoldin2007and2008. ThisisthethirteentheditionofGFCI(GFCI13).

Arab exports to Brazil exceed USD2.76bn in Jan.-April 2013

Tue, 18 Jun 2013 06:26:05 GMT

The Arab region has been a very important partner of Brazil in oil trade as Arab countries collectively account for up to 20% of Brazilian oil imports.

Public debt in Lebanon reaches USD59bn in April

Tue, 18 Jun 2013 05:11:29 GMT

Lebanon’s public debt swelled by nearly USD 5 billion during the term of former premier Najib Mikati’s Cabinet, the secretary-general of the Association of Banks in Lebanon said. “Based on the statistics provided by the Finance Ministry, the public debt rose by USD 5 billion, 60% of which is foreign currency,” Makram Sader told The Daily Star.

Industrialists call for more robust policies at ceremony

Tue, 18 Jun 2013 05:10:21 GMT

Shoring up the Lebanese industrial sector is key for restoring economic stability, said officials who celebrated the “Lebanese Industry Day” Monday. Industry Minister Vreij Sabounjian urged more robust policies to support the industrial sector, saying it is crucial to create more jobs.

New geology faculty at LU aimed at oil, gas sector in Lebanon

Tue, 18 Jun 2013 05:09:37 GMT

The Parliament’s Justice and Administration Committee Monday approved the establishment of a new geology faculty at the Lebanese University.

New traffic regulations to ease weekend jams in Lebanon

Tue, 18 Jun 2013 05:06:51 GMT

The Interior Ministry Monday altered traffic regulations along the coastal road linking Beirut and north Lebanon Fridays and Saturdays to ease traffic over the weekends.

Banque Audi: The Lebanon Weekly Monitor (16-Jun-13)

Mon, 17 Jun 2013 12:50:00 GMT

Uncertainties governing the local political front left their imprints on Lebanese capital markets’ performance during this week. Foreign investors continued to offer their papers on the bond market along with expansions in spreads, and the BSE price index fell to its lowest level this year, while the FX market maintained its balanced activity, supported by market players’ resilience to local developments and their faith in the monetary authorities’ ability to defend the currency peg, especially that BDL’s foreign assets reached a high level exceeding US$ 36 billion. In details, foreign investors continued to offer their long-term papers on the bond market, while locals managed to contain this offer at relatively lower prices.

Barclays: Wealth Insights - Origin and Legacy, The Changing World of Wealth (Jun-13)

Mon, 17 Jun 2013 08:41:00 GMT

There are significant shifts taking place across the world in terms of how wealth is created, the pace at which it isaccumulated and the subsequent impact these dynamics have on when, and even whether, it is shared with futuregenerations and charitable causes.Globally there exists a cycle of wealth creation, inheritance and legacy. Each stage of the wealth cycle brings its own set of challenges and opportunities for the individuals and their families. While emerging markets are accruing wealth at a faster pace than more developed territories, many emerging-marketentrepreneurs are now planning, often for the first time, how to deal with succession and inheritance, to protect thatwealth and ensure children are educated to prosper with it.

Nahhas calls for salvation conference to rebuild state

Mon, 17 Jun 2013 07:45:20 GMT

A gathering of politicians, intellectuals and civil society activists over the weekend called for a “national salvation” conference that would help rebuild the Lebanese state.

New facility at Masnaa to improve border control

Mon, 17 Jun 2013 07:44:24 GMT

Around the eastern mountains of the Bekaa Valley and along the Damascus highway, General Security has erected a new facility that it hopes will contribute to efforts to regain control over the nation’s border with Syria.

World Bank: Global Economic Prospect - Less Volatile, But Slower Growth (Jun-13)

Mon, 17 Jun 2013 07:35:00 GMT

The global economy appears to be transitioning toward a period of more stable, but slower growth. Global gross domestic product (GDP), which slowed in mid-2012 is recovering, and a modest acceleration in quarterly GDP is expected during the course of 2013. Financial market risk indicators, such as credit default swap rates, sovereign debt spreads, and stock market volatility indicators have all improved significantly since June 2012.

Lebanon: Insurance sector faces stagnation in 2013

Mon, 17 Jun 2013 07:13:34 GMT

Activity in the tourism, real estate and trade sectors stagnated in 2012, Lebanon’s business leaders warned last week, and the insurance sector will follow suit in 2013, according to industry experts.

Mena markets see record fund inflow in May

Mon, 17 Jun 2013 05:09:35 GMT

The Middle East and North Africa (Mena) markets had an inflow of funds worth USD 655 million (AED 2.4 billion) in May, which marks the highest recorded inflows to the region in five years.

Credit Libanais: Weekly Market Watch (14-Jun-13)

Sun, 16 Jun 2013 08:28:00 GMT

According to Ernst & Young’s Middle East Hotel Benchmark Survey report, the hospitality benchmark for Lebanon shows an 8% annual contraction in the occupancy rate at 4 & 5 stars hotels in Beirut during the first four months of 2013 to 58% as at end of April, recording as such the 3rd lowest occupancy rate among covered Middle Eastern (MEA) capitals. The average room’s rate within 4 & 5 stars hotels in Beirut fell by 22.9% y-o-y to $162 with the average rooms’ yield dropping markedly by 32.4% to $94.

Mena growth outlook strong: QNB Group

Sun, 16 Jun 2013 05:38:52 GMT

The economic outlook of Middle East and North Africa (Mena) region remains strong, according to QNB Group.

Hariri: Hezbollah dragging Lebanon into the abyss

Sat, 15 Jun 2013 05:18:47 GMT

Former Prime Minister Saad Hariri launched a scathing attack on Hezbollah leader Sayyed Hasan Nasrallah Thursday, accusing him of endangering Lebanon through the party’s actions over the years, including the sending of fighters to Syria.

Hezbollah will keep fighting in Syria, Nasrallah says

Sat, 15 Jun 2013 05:18:16 GMT

Hezbollah will continue fighting alongside forces loyal to President Bashar Assad against Syrian rebels, the head of the resistance group said Friday, adding that his party’s decision to intervene in Lebanon’s neighbor had been a calculated one.

Sleiman signs wage hike, snags persist in Lebanon

Sat, 15 Jun 2013 05:17:06 GMT

President Michel Slieman has signed the new salary scale law and referred it to Parliament for approval, the Union Coordination Committee said Friday, but warned teachers would return to strikes if Parliament failed to remove the amendments made by the Finance Ministry on the bill.

Solidere profits in Lebanon plunge 90% in 2012

Sat, 15 Jun 2013 05:16:06 GMT

The net profits of Solidere’s Lebanon operations in 2012 plunged by a whopping 90%, or USD 163 million, to USD 16 million due to a huge drop in land sales, FFA Private Bank said.

Beirut retail sales plunge 14.4% in first quarter of 2013

Sat, 15 Jun 2013 05:13:14 GMT

Retail sales fell 14.40% in the first quarter of 2013, the results of the Beirut Traders Association-Fransabank Retail Index showed.

Moody's: Credit Analysis - Lebanon (12-Jun-13)

Thu, 13 Jun 2013 09:39:00 GMT

Moody’s assesses Lebanon’s Economic Strength to be Moderate. Over the past five years (2008 to 2012), real GDP growth averaged 5.5%, considerably more than the rate growth among its regional Ba-rated peers such as Turkey (Baa3), Morocco (Ba1), Armenia (Ba2), Jordan (Ba2) and Georgia (Ba3). Lebanon’s economy is relatively concentrated, with trade, construction and financial sectors together representing 76% of GDP. Over the same period, Lebanon’s GDP per capita in purchasing power terms approximated $14,800 according to the IMF, more than that of regional Ba-rated peers and similar to Turkey’s. With its population of 4 million and nominal GDP of $41 billion (2012), however, Lebanon’s economy remains small, similar in size to Lithuania (Baa1) and Costa Rica (Baa3).

GCC decision ‘not targeting Lebanese nationals’

Thu, 13 Jun 2013 05:38:08 GMT

The decision by the Gulf Cooperation Council (GCC) to take action against Hezbollah’s supporters over its involvement in the Syrian conflict will not affect Lebanese nationals staying in Kuwait, local sources have said.

Jumblatt slams officials over traffic, urban planning

Thu, 13 Jun 2013 05:19:34 GMT

Progressive Socialist Party leader Walid Jumblatt slammed the negligence of political officials Wednesday over traffic and urban planning in the capital and across the country

Bassil promises 16 hours of electricity this summer

Thu, 13 Jun 2013 05:19:19 GMT

Caretaker Energy and Water Minister Gebran Bassil promised Wednesday to supply Lebanon with 16 hours of electricity a day during the summer season despite the mounting consumption. Speaking at a news conference, Bassil said with the arrival of the Turkish electricity barge, the total power output would reach between 1,700 MW to 1,900 MW.

Lebanon rank falls on global peace index

Thu, 13 Jun 2013 05:18:58 GMT

Lebanon ranked 142 out of 162 countries in a global peace ranking, making it one of the least peaceful countries in the world, according to a report Tuesday. Lebanon’s rank fell to 142 from 136 on the Global Peace Index report issued by The Economist Intelligence Unit, placing the country after India and before South Sudan.