Archive for Economy
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.
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.
Financial 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.
Economy and Trade Minister Mohamad Safadi stated on Tuesday that he would chair, next week, his ministry’s delegation to Syria to complete the measures relevant to increasing trade exchange with Damascus.
Under the patronage of Economy and Trade Minister Mohamad Safadi, the Real Estate Association of Lebanon (R.E.A.L.) was officially launched on Wednesday, May 12, 2010, at Le Vendôme Intercontinental Hotel in Beirut. An outstanding attendance regrouped media figures, diplomats and senior figures from the real sector as well as representatives of Beirut and Mount-Lebanon Chamber of Commerce, industry and Agriculture. As it aims to be the first representative organization, R.E.A.L. mainly seeks to support the different entities operating in the real estate sector.
After eleven years of absence, the Beirut Stock Exchange returns with remarkable energy. Because the stock exchange will play an important role in the success of the reconstruction process, we are posting this interview with Gabriel Sehnawi, head of the stock exchange committee who is an expert in the field of financial administration.