Lebanon Banks: Salameh raises goal for capital adequacy

Lebanon plans to raise the minimum level of top quality capital reserves held by banks to 12 percent within seven years, the Central Bank governor said Friday.

Riad Salameh said he originally envisaged asking banks to raise reserves of Tier 1 capital to 10 percent – already significantly higher than the 7 percent required by the Basel (more…)

Syria lifts ban on imports of Lebanese products

The Syrian Government decided on Tuesday to lift the ban on the importation of Lebanese value added products that are subjected to customs duty in excess of 5 percent, SANA news agency reported. (more…)

Special report: The squeeze on Assad

The regime of Bashar Assad is tottering. The extraordinary endurance of demonstrators week after week is paying off. His fall would probably trigger a short-term surge in violence, but a better government would emerge

Syria: Death of tourism most visible sign of major economic damage

The Ayenor boutique hotel in Damascus has a fountain splashing in its sunlit courtyard and four-poster beds in $100-a-night rooms that were usually full, until three months ago. Now, every room is empty, (more…)

The Fate of the Syrian Pound

The use of the Syrian pound has only started in 1948 after the secession of Bank of Syria and Lebanon, which was providing a single common currency for both countries. (more…)

Suleiman directed the decrease of gas prices by LL5,000

President Michel Suleiman on Friday “instructed involved authorities to take the appropriate measures to decrease gasoline prices” by LL5,000 after a crisis gripped the country and most gas stations shut down.
A statement issued by Baabda palace said the president gave the instructions after reviewing the legal opinions of involved state institutions. (more…)

Lebanon’s agricultural exports grew 26% in 2010

The Lebanese Customs Office has revealed the latest data about Lebanon’s agricultural foreign trade in 2010. Exported volumes increased by 10.5%, for a total value of 194 million dollars, an upsurge by 26% over 2009. (more…)

Analysis: Egypt’s appeal for emergency economic help

Egypt’s top diplomat warned that the country faces a severe post-revolutionary economic crisis and appealed for urgent economic U.S. help.

Financial inflows into Lebanon fell to $17 billion in 2010

Financial inflows into Lebanon fell to $17.036 billion in 2010, down by 17.5 percent compared to 2009, according to Bank Audi Weekly Monitor. (more…)

Lebanon crisis threatening to derail economic progress

The political crisis in Lebanon is threatening to derail economic progress after a year that saw 7 per cent economic growth, a record number of tourists and bank deposits among the highest in the Middle East. (more…)