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the Reference blog for financial investment in Lebanon

Archive for Economy

Beirut Real Estate Market to Grow 15 Percent

Beirut real estate market predicted to grow 15 percent in next three yearsLebanon’s real estate market will grow by up to 15 percent in the next three years, director general of the Economy Ministry Fuad Fleifel said Thursday at the Beirut International Property Fair.
“Lebanon has gone against the current of the international financial crisis in the real estate sector,” said Fleifel. “Its [real estate] value has risen by 9 percent during the first eight months of 2009, with expectations that it will rise between 10 and 15 percent until the year 2013.”
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Number of tourists up 18% in first 10 months of 2010

The number of incoming tourists to Lebanon totaled 1,851,922 in the first 10 months of 2010, constituting an increase of 17.6% from 1,574,490 tourists in the same period last year. Arab tourists accounted for 33.6% of total visitors and were followed by visitors from Europe with 22.4%, Asia with 21.9%, the Americas with 12.8%, Africa with 6.6%, and Oceania with 2.8%. The number of tourists
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Alpha banks see 20 percent profit rise in first nine months

Alpha banks see 20 percent profit rise in first nine monthsFinancial indicators of the top 12 banks operating in Lebanon showed moderate growth in activity in the first nine months of 2010, Bank Audi’s Lebanon Weekly Monitor, citing the alpha report issued by Bankdata Financial Services, reported.
The report stated that loans registered a substantial growth over the aforementioned period of this year, supporting earning growth in a period that witnessed relatively tough operating conditions.
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National union holds protest against price rises

The national union of laborers association in Lebanon held a protest against the hike in prices across the country on Sunday. The protest was joined by representatives from different economic sectors in Lebanon including head of the national union Castro Abdallah, who gave a speech criticizing Lebanese authorities for not taking proper action against the constant increase in prices.
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Lebanon capital inflows down by 8.1 percent

Capital inflows into Lebanon reached $11.9 billion in the first eight months of 2010, down by 8.1 percent relative to the same period of 2009, but still managed to more than fully cover Lebanon’s structural deficit, thereby resulting in a balance of payments surplus in the said period.
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Lebanon’s Challenge is sustaining the growth momentum, report

Lebanon’s economy is booming. But to sustain the current growth spell and translate economic expansion into jobs and broader social gains, the country must strengthen public finances, upgrade its infrastructure, and improve the business environment, say IMF economists.

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IMF: Lebanon, Remarkable financial performance in face of global recession

Lebanon’s economy has largely escaped the impact of the global crisis and performed remarkably well, reflecting a more stable political environment and prudent macroeconomic management, reports Global Arab Network according to the International Monetary Fund  (IMF) publication.

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