BLOM bank net profit up 13 percent, report

Lebanese BLOM Bank said first-half net profit rose 13.1 percent compared with the year-ago period to $156 million, supported by a buoyant domestic economy and strong consumer demand for loans. (more…)

Business Report: Lebanon is the real outperformer in the region

The three countries covered in this Business Forecast Report Jordan, Lebanon And Syria have all, to a greater or lesser degree, shrugged off the worst of the global economic slowdown. (more…)

Suleiman: This summer season will help improve Lebanon’seconomy

Lebanese President Michel Sleiman said on Monday that the high number of visitors to Lebanon reflects stable political and security conditions, National News Agency (NNA) reported .
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OP-Ed: Resilient Lebanon attracts tourists, money, glamour

Two years ago, Lebanon was reeling from a crisis which brought gun battles onto the streets of Beirut,

Prince Walid: I Have full confidence in Lebanon’s future

During the opening ceremonies of the Four Seasons hotel in downtown Beirut on Tuesday, Saudi Prince Walid bin Talal reiterated his commitment to support Lebanon, saying he has “confidence in Lebanon’s future.” (more…)

Central Bank: Lebanon real-estate industry not a bubble

By Seda Sezer and Massoud A. Derhally

Growth in Lebanon’s real-estate market, which has helped to spur economic growth, is unlikely to create a housing bubble, the country’s central bank Vice Governor Saad Andary said.

“Out of each 100 dollars spent on property acquisition, not more than 16 to 18 dollars are financed by banks,” Andary said in an interview in Istanbul today. “The rest is hard cash, mainly from Lebanese from abroad. We have no fear from a housing bubble.” (more…)

US: Afghanistan has nearly $1 trillion in untapped mineral deposits

Afghanistan has nearly $1 trillion in untapped mineral deposits, according to a US study.

A report in the New York Times said previously unknown reserves of lithium, iron, gold, niobium, cobalt and other minerals could transform the impoverished country into one of the world’s most lucrative mining centers.

“There is stunning potential here,” General David Petraeus, commander of the United States Central Command, told the paper in an article published on Monday. (more…)

Lebanon: Growth of the economy at risk without reforms

Lebanon’s economy has surged despite global recession, but with one of the world’s highest levels of public debt, growth may not be sustainable without reforms

Top Chefs reinventing Lebanese cuisine in Beirut

By Florence Fabricant
After more than 30 years of civil war, invasion and occupation, Lebanon is prospering again, and the downtown area of Beirut, the capital, has risen from the rubble. Among more than 400 projects are a new waterfront area, parks, world-class hotels, high-end shops and restored monuments, churches, mosques and even the synagogue.

Lebanon needs to reduce debt by $23 billion

Lebanon should cut its public debt to about 80 percent of gross domestic product, from the current level of 147 percent, Templeton Asset Management Ltd.’s Mark Mobius said. Mobius, who oversees about $34 billion in merging market assets as Templeton’s Singapore-based executive chairman, said he’s considering an investment in Lebanon’s banking and real estate industry this year. (more…)