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THURSDAY, 23 FEB 2012

04:49 AM Beirut time

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International

Unsafe economy may force IEA to release oil

By John Kemp | February 23, 2012 01:34 AM

Political leaders in the US and Europe could soon face an uncomfortable choice between raising the pressure on Iran further or taking steps to safeguard their economies from the damage.

Greece scrambles to pass laws needed to secure second bailout

February 23, 2012 01:37 AM

Thousands of protesters angry at punishing spending cuts poured into Athens’ central Syntagma Square Wednesday.

Alibaba shares rise on privatisation plans

February 22, 2012 10:36 AM

The share price of Chinese online shopping portal Alibaba.com soared in Hong Kong intra-day trade on Wednesday.

Brent holds near 9-month high on Iran tensions

By Gene Ramos | February 22, 2012 08:50 PM

Brent crude oil traded near nine-month highs as supportive Iran-related tensions and supply worries outmatched pressure from weak economic data in Europe and China.

Huge private debts pose bigger hurdle for euro zone

By Alan Wheatley | February 22, 2012 09:02 PM

Away from the markets' fixation with the debts of Greece and other governments, concern is growing at the painfully slow progress Europe is making in tackling a much bigger mountain of corporate and household debt.

Lebanon

Middle East

Analysis

Salameh: Lenders capable of weathering risks

February 23, 2012 01:38 AM

Governor Riad Salameh said that Lebanese commercial banks are capable of weathering any financial, political and security risks thanks to the conservative system adopted by these lenders.

Stay close to your product and customer: ex-Nestlé chief

Mohamad El Amin | February 23, 2012 01:39 AM

Former Nestlé chairman Helmut Maucher shared the secret of his success to attendees at a conference in Beirut Wednesday.

Syrian bankers face struggle to survive as turmoil spreads

Suleiman al-Khalidi | February 23, 2012 01:38 AM

Unrest in Syria is causing chaos at the country’s banks, which posted bumper profits last year as a plunge in Syria’s currency boosted foreign exchange gains.

Abu Dhabi shares at 5-month high on Etisalat dividend plan

Zahra Hankir | February 22, 2012 02:01 AM

Abu Dhabi’s shares rose to the highest in almost five months after Emirates Telecommunications Corp. proposed a dividend for 2011.

Syria sets Feb. 26 referendum on new constitution

Erika Solomon | February 15, 2012 11:25 AM

Syrian President Bashar Assad has ordered a referendum on Feb. 26 on a new constitution that would open the way to political parties.

Russia: still 2 major issues with Syria resolution

Steve Gutterman | February 04, 2012 10:18 AM

Russia sought to delay a U.N. Security Council vote on a resolution aimed at ending the bloodshed in Syria.

More News

Europe seals new Greek bailout, but doubts remain

February 22, 2012 02:25 AM

Eurozone finance ministers agreed a 130 billion euro ($172 billion) rescue for Greece Tuesday.

Greek debt could spiral if bailout package derails, says EU/IMF report

By Jan Strupczewski | February 22, 2012 01:44 AM

Greece’s second bailout program could easily go off the rails and send the nation’s debt rocketing back to today’s unmanageable levels, a confidential study by its international lenders shows.

Portuguese reject government call to report to work during Carnival

By Barry Hatton | February 22, 2012 01:43 AM

Portuguese workers issued a spontaneous “Ja chega!” – “That’s enough!” – to the government Tuesday.

Oil holds near $120 as buyers cut back on Iran supplies

February 22, 2012 01:42 AM

Oil held close to $120 a barrel Tuesday as Iran’s top customers in Asia moved to cut back on supplies due to tighter sanctions by the West.

Irish PayPal expansion to create 1,000 jobs

February 21, 2012 10:00 PM

US online payments giant PayPal is to create 1,000 new jobs in Ireland in a major expansion of its operations in the eurozone member.

Man United's cash reserves fall by 100 million GBP

By Rob Harris | February 21, 2012 04:56 PM

Manchester United's cash reserves fell by nearly 100 million pounds ($158 million) in six months partially to finance an investment in the squad that is failing to maintain the English champions' dominance on the pitch.

World stocks down despite deal to end Greek crisis

By Pamela Sampson | February 21, 2012 08:35 AM

World stock markets were mostly lower Tuesday even as European leaders finally clinched a deal for a rescue package to prevent Greece from going belly up.

Spain’s barter economy wins followers in grip of crisis

By John Stonestreet | February 21, 2012 01:39 AM

It’s 10:30 on a chilly winter’s morning in central Madrid and retailer Emanuela Scena is opening up for business.

Closing Hormuz will halve Iraq oil exports: Baghdad

February 21, 2012 01:38 AM

Iraq could lose more than half of its oil-exporting capability if neighboring Iran shuts the vital Strait of Hormuz shipping lane.

Iran threatens to cut oil to more EU states

February 21, 2012 01:38 AM

Tehran will cut oil exports to more EU nations if they remain “hostile,” the deputy oil minister who heads Iran’s state oil company said Monday.

Oil jumps to 9-month high after Iran cuts supply

By Pablo Gorondi | February 20, 2012 10:54 PM

Oil prices jumped to a nine-month high above $105 a barrel after Iran said it halted crude exports to Britain and France.

Decision day for 2nd Greek bailout despite financing gaps

February 20, 2012 10:03 AM

Euro zone finance ministers are expected to approve a second bailout for Greece on Monday.

Wall Street week ahead: Stocks could struggle to hold 9-month highs

By Caroline Valetkevitch | February 20, 2012 01:15 AM

If upcoming earnings from U.S. retailers are as unimpressive as the rest of the profit season has been, Wall Street could face a tough time justifying a stock market at nine-month highs.

Greece and the bridge of fools

By Stella Dawson | February 19, 2012 10:58 PM

The isosceles theorem put forward by the Greek mathematician Euclid became a test in medieval times of one's ability to master more difficult matters.

Greek cabinet tackles austerity, rescue hopes rise

By David Stamp, George Georgiopoulos | February 18, 2012 03:34 PM

Greece's cabinet tackled on Saturday how to implement austerity demanded by the EU and IMF as a 130-billion-euro ($171-billion) rescue seemed within reach.

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