Cabym's Weblog

the Reference blog for financial investment in Lebanon

Investing in the Lebanese Creative Economy yields future opportunities for younger generations

Lebanon has an opportunity to fuel its economic growth, by further investing in its creative ecosystem. Additionally, over the past few years the Creative Economy sector has witnessed a significant development in this region, in general and in Lebanon in particular, and there has been an increase in the size and quality of creative production. This makes it important to start addressing creativity from an economic perspective and to promote the understanding of creativity as a viable economic activity that generates wealth and jobs.
Read more…

Balance of payments posts surplus of $2.94bn

Central Bank figures show that Lebanon’s balance of payments posted a surplus of $2.94bn in the first 9 months of 2010 compared to a surplus of $4.84bn in the same period last year. The balance of payments posted a surplus of $186m in September compared to a surplus of $446.7m in August and a surplus of $475m in September 2009. The August 2010 surplus was caused by a surplus of $81m in the Central Bank’s net foreign assets and a surplus of $105m in those of banks and financial institutions.
Read more…

Credit and Debit Cards reaches 1.7 million card

                                    

 

Figures released by the Central Bank of Lebanon show that the number of credit and debit cards issued in Lebanon reached 1,703,126 cards at the end of September 2010, constituting a 4.5% increase from end-2009, and a 6% rise on a yearly basis.

Read more …

Lebanon ranks 49th globally for microfinance environment

The Economist Intelligence Unit’s Global Microfinance Index ranked Lebanon in 49th place among 54 countries worldwide and in last place among 14 countries in the Middle East and Africa (MENA) in terms of the environment for microfinance, as reported by Lebanon This Week, the economic publication of the Byblos Bank Group. Also, Lebanon came 12th among 14 Upper Middle Income Countries (UMICs) included in the survey.
Read more…

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.”
Read more…



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
Read more…

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.
Read more…