Dubai World finalizes $24.9 Billion restructuring

Dubai World, the emirate’s state-run investment arm, said Friday that 99 percent of its creditors had agreed to the terms for restructuring $24.9 billion worth of debt, less than a year after the troubled conglomerate spooked global markets when it stopped paying interest on loans accumulated before the financial crisis. (more…)

ISF responds to Aoun

Lebanon’s Internal Security Forces (ISF) issued a statement on Thursday in response to to criticisms by Free Patriotic Movement leader MP Michel Aoun.

“Some politicians launched a campaign against the ISF – Information Branch regarding the arrests of several Israeli collaborators, and tried to defend Karam (more…)

Mufti Qabbani rejects use of arms to solve Lebanon problems

The Grand Mufti of the Lebanese Republic Sheikh Mohammed Rashid Qabbani said during Eid al-Fitr prayers on Friday that arms used in streets and alleyways have no legitimacy.

“It is unacceptable to resort to weapons to solve our problems … and for arms to be the arbiter in solving our problems,” Qabbani said at al-Amin mosque in downtown Beirut. (more…)

Pastor Terry Jones suspends Qur’an burning

The Florida pastor who threatened to burn copies of the Qur’an has said he has only “suspended” the event because he was “lied to” over a deal to call it off in exchange for a promise to move a planned Islamic centre away from Ground Zero in New York.

The extremist preacher appeared to have backed down in the face of condemnation by Barack Obama, (more…)

Gemayel: Lebanese army is the only resistance

MP Nadim Gemayel said during an interview with al-Massira magazine that the Lebanese army was the only resistance in the country accusing Hezbollah of seeking to force the Lebanese government to reject the indictment of the Special Tribunal for Lebanon (STL)
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Florida pastor reconsidering ‘canceled Quran burning’

Florida preacher Terry Jones called off, then reconsidered going ahead with his plan to burn copies of the Quran on Sept. 11. (more…)

Hezbollah MP defends Aoun

State Minister for Administrative Development Mohammed Fneish defended Free Patriotic Movement leader Michel Aoun after the former army general slammed President Michel Suleiman.

“Any stance made by him (Aoun) or any other national leader should not pass by unnoticed,” Fneish said in remarks published Thursday by As-Safir newspaper. (more…)

Lebanon minister: No one should interfere in STL’s investigations

The Special Tribunal for Lebanon (STL) and the Lebanese judiciary’s work must not be disrupted, Minister of State Adnan as-Sayyed Hussein told Voice of Lebanon (VOL) on Thursday , adding that no one should interfere in the STL’s investigation. (more…)

France will re-enact Hariri murder, LBC

LBCI television quoted on Thursday an unnamed French source as denying that France will abolish reenactment of the 2005 explosion that killed former Prime Minister Rafik Hariri.

As-Safir newspaper quoted earlier Thursday an unnamed French source as saying that Paris was considering canceling the re-enactment. (more…)

Lebanon expects 2011 GDP growth of 5%

Lebanon’s real GDP will grow 5 percent in 2011 while inflation is expected to drop to 2.8 percent by the end of that year, according to draft budget figures released by the finance ministry on Wednesday.

Finance Minister Raya al-Hassan ( pictured) said the 2011 budget projects GDP at around $40 billion, of which $3.8 billion will go to service the country’s debt which is expected to reach $55 billion in 2011. (more…)