News

Lebanon signs consulting contracts for CIP projects

The Higher Council for Privatization and Public-Private Partnership signed consulting and advising contracts with major international companies Thursday in a key step of the implementation of the Capital Investment Program presented at CEDRE. The CEDRE conference held in Paris in April garnered over $11 billion in soft loans and grants…

Development bank EBRD to invest $200M in Lebanon in 2019

The European Bank for Reconstruction and Development intends to invest at least $200 million in Lebanese equities, renewable energy and water resources in 2019, the development bank’s vice president Alain Pilloux said Monday. “We believe that as early as next year we should invest at least $200 million in the…

Lebanon’s GDP growth should hit 8 pct: study

Lebanon’s GDP growth should climb to 7 or 8 percent a year by activating tourism, real estate, construction and the banking sector, a study conducted by Fransabank said on Monday. “The Lebanese authorities should focus on enlarging the base of the national economy, mainly through activating the activity of leading…

Lebanon to issue $2bn euro bonds: Salameh

Lebanon plans to sell up to $2 billion of new Eurobonds part of a debt-swap aimed at reducing servicing costs, Central Bank Governor Riad Salameh announced during an interview with Bloomberg Monday. Salameh, who has steered the financial sector through repeated upheavals since taking the helm at the Banque Du…

Expat vote turnout at 59 percent

Foreign Minister Gebran Bassil lauded the historic expatriate vote Monday in a televised news conference held at the Foreign Ministry, hours after the last overseas polling station closed in the U.S. city of Los Angeles. “It was a difficult process. We didn’t have a big budget or a lot of…

LPA to prep for second gas licensing round

Energy and Water Minister Cesar Abi Khalil said Tuesday that he had instructed the Lebanese Petroleum Administration to prepare for the second offshore gas licensing round. “This is not the launch of the licensing round, but the beginning of the preparations that will benefit from the experience gained from the…

EIB to invest 800 million euro in Lebanon’s transportation

Lebanon will receive up to 800 million euro of support to public investments by 2020. So said President of the European Investment Bank (EIB), Werner Hoyer. “We stand ready to support Lebanon in the implementation of the government’s investment plan,” stated Hoyer. “We have provided nearly EUR 1.8 billion of…

Lebanon to host 2019 Arab Economic and Social Development summit

Lebanon will host the 2019 Arab Economic and Social Development Summit, the state-run National News Agency reported Sunday. The AESD was formed as an exclusively economic and developmental conference that tends to involve the private sector, including banks, chambers of commerce, industry, and agriculture. News agencies had previously reported that…

Lebanon Ready To Rebuild Syria

The dream of reconstructing Syria is beginning to materialize in Tripoli, in the north of Lebanon. The city is only 28 kilometers from the Syrian-Lebanese border, and local authorities want Tripoli to become the number-one hub between Syria and the rest of the world. To achieve that goal, local authorities…

Lebanese PM says economic deals to be signed with Saudi Arabia

Lebanese Prime Minister Saad Hariri said on Wednesday he had held an “excellent” meeting with Saudi Crown Prince Mohammed bin Salman and expected Lebanon to sign economic deals with Saudi Arabia soon. “We will see very soon certain agreements that will be signed with Saudi Arabia vis-a-vis different sectors of…