Cabym's Weblog

the Reference blog for financial investment in Lebanon

Archive for central bank

Deutsche Bank: Good growth for Lebanese banks

The near-term outlook for growth of the Lebanese banking system appears strong, reflecting current buoyant economic conditions, according to research by Deutsche Bank. The research was published by Bank Audi.

“However, growth is likely to moderate somewhat over the next couple of years, as per the Bank, as GDP growth is forecast to slow to the 4-5 percent range,” the report said.
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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.
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Lebanon to Delay IPO of Middle East Airlines, Central Bank’s Salameh Says

Lebanon will delay an initial public offering of shares in national carrier Middle East Airlines that was due by the end of this year because of unfavorable market conditions, Central Bank Governor Riad Salameh said.

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Salameh: Flow of remittances will reduce threat of public debt

Central Bank Governor Riad Salameh said on Tuesday that the public debt does not pose a threat to the economy as long as the flow of deposits to Lebanon remains high.

“The main challenge in the future is to maintain a high growth rate,” he said.

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Lebanon’s economy may grow more than 5 % this year

Lebanon’s economy may grow more than 5 percent this year as money floods into the country, cutting borrowing costs and enabling the central bank to maintain investment incentives, the central bank’s Vice Governor Saad Andary said.
“I am confident we are going to replicate last year’s growth rate,” Andary said in an interview in Beirut today. “Interest rates have dropped and banks are flush with liquidity.”

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