Budget: Lebanon sees GDP growth easing to 4 pct in 2011

Lebanon forecasts its economy will grow 4 percent in 2011, slowing from an expected 4.5 percent expansion this year, according to a draft budget circulated by the finance ministry on Monday.

The ministry also said it expected its budget deficit to fall to 9.9 percent of gross domestic product next year, from an estimated 10.7 percent this year, while inflation will drop to 3.2 percent by the end of 2011. (more…)

Qatar in LNG talks with Lebanon, Turkey

Qatar is in talks with Lebanon and Turkey to sell liquefied natural gas (LNG) as part of its strategy to expand its supply chain in the international markets. (more…)

Lebanon PM Meets the Saudi King, Crown Prince

Prime Minister Saad Hariri met on Monday in Riyadh with Saudi King Abdullah Bin Abdel Aziz al Saud to discuss the regional developments and the strengthening of bilateral ties, the National News Agency (NNA) reported. (more…)

Geagea: No change in political power in Lebanon

In an interview with Kuwaiti daily al-Rai to be published Tuesday, Lebanese Forces leader Samir Geagea stressed said “mistaken are those who believe that the political balance of power in Lebanon has witnessed a dramatic change.

“It is true that some changes have taken place, but they are not sufficient to speak of the majority turning into a minority or the opposite. Hence, I consider that all the talk about changes to the Cabinet in Lebanon aims at political and psychological pressure and at pushing the political atmospheres into tension.” (more…)

Iran nuke deal raises risk for Turkish-Israeli ties

In the light of already deteriorating relations between Israel and Turkish governments, Israel worries increasingly about Turkey’s newly struck deal over the nuclear swap with Iran. Turkey’s continued defense of Iran is dealing renewed blows to Israeli-Turkish ties, analysts say .

Turkey may have scored a diplomatic victory by sealing a nuclear fuel swap deal with Iran, but it risks further straining its deteriorating ties with estranged regional ally Israel, analysts said. (more…)

Analysis: Thailand’s political crisis

Days of violent unrest in the Thai capital have left dozens dead and hundreds injured as security forces clash with anti-government protesters. (more…)

Crude oil drops below $70/ barrel

Crude futures dropped as doubts about future oil demand sent prices to a 2010 low.

Light, sweet crude for June delivery traded $1.83, or 2.6%, lower at $69.78 a barrel on the New York Mercantile Exchange after dropping to $69.27 a barrel, the cheapest the front-month contract has traded since December. Brent crude on the ICE futures exchange traded $2.54, or 3.3%, lower at $75.39 a barrel. (more…)

Jumblatt: Remember May 17 !

In an editorial to be published Tuesday by al Anbaa weekly , Progressive Socialist Party leader MP Walid Jumblatt urged that people remember the date of May 17 “that caused Lebanon tragedies” and proved that Lebanon taking independent decisions in confronting Israel “is destructive and should not be repeated.”

The 1983 May 17 Agreement was a U.S. backed attempt to create peace between Lebanon and Israel during the Lebanese Civil War, (more…)

Euro may be heading to parity with Dollar!

The euro pared earlier losses after European stocks staged a turnaround and moved higher.

The European currency had plummeted to a four-year low Monday morning as ongoing debt concerns prompted a flight to the safety of the U.S. dollar.

The dollar rose 0.1% against the euro to $1.2347. Earlier, the euro crashed through the key technical level of $1.23, falling to a four-year low of $1.2234. (more…)

UN says Iran atomic deal ‘encouraging’ but more needed’

Iran’s nuclear fuel swap deal worked out by Turkey and Brazil is “encouraging,” but Tehran must comply with Security Council resolutions, Martin Nesirky, spokesman for UN chief Ban Ki-moon, said on Monday. (more…)