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The Daily Star
SUNDAY, 20 APR 2014
03:09 AM Beirut time
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Lebanon  
S&P raises outlook of Lebanese banks
April 19, 2014 12:09 AM
International rating agency Standard & Poor’s has raised its outlook for Lebanon-based Bank Audi, BankMed and BLOM Bank to stable from negative, just a week after upgrading the outlook of Lebanon from negative to stable.
Drug industry insiders allege dubious practices
By Justin Salhani | April 19, 2014 12:10 AM
Pharmaceutical industry insiders say dubious business practices are widespread in Lebanon’s drugs sector following an announcement by a British company that it was investigating bribery allegations in Jordan and Lebanon.
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Reform at Customs held up by vacancies
By Osama Habib | April 18, 2014 12:29 AM
As politicians call for a renewed effort to end alleged corruption in the Customs Department, a source at the Finance Ministry said that the minister’s hands were tied until the Cabinet filled key vacancies.
New taxes could affect banks’ profitability: FFA
April 18, 2014 12:29 AM
Profits of Lebanese banks could drop if Parliament approves a proposal to tax lenders’ income from assets tied to sovereign bonds, FFA Private Bank said.
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Siniora: We must cut EDL deficit
April 17, 2014 12:15 AM
Former Prime Minister Fouad Siniora warned of grave consequences if Parliament passed the salary scale proposal without modifications, calling on authorities to cut waste at Electricite du Liban and other state institutions.
Labor Ministry warns over unjustified layoffs
April 17, 2014 12:15 AM
The Labor Ministry issued a statement Wednesday warning businesses over replacing Lebanese employees with Syrians, threatening to pursue them legally.
Hakim focused on consumer protection
April 17, 2014 12:15 AM
Economy and Trade Minister Alain Hakim Wednesday announced a committee to handle legal disputes in the consumer protection department at the ministry.
 
Milan expo to showcase Lebanese cuisine
By Beckie Strum, Dana Halawi | April 16, 2014 12:14 AM
Lebanese government officials and the Italian Embassy called Tuesday for food industry experts to participate in the 2015 World Expo in Milan, where Lebanon will highlight its local food.
 
World Bank supporting reform at Finance Ministry
April 16, 2014 12:14 AM
The World Bank Tuesday approved a $5.2 million loan to support Lebanon’s Finance Ministry in fiscal policy and debt management as part of the Second Financial Management Reform Project.
 
Wage hike can spark inflation, experts warn
By Dana Halawi | April 15, 2014 12:36 AM
Enacting a wage hike for public sector employees would spur inflation if paid in full rather than in installments, economists told The Daily Star Monday.
 
Lebanese startup goes global
By Elias Sakr | April 14, 2014 12:22 AM
Despite an underdeveloped telecommunication infrastructure compared to its regional peers, Lebanon has managed in the past few years to lay the foundations of a supportive environment for startups.
 
Abboud: Sin taxes could pay wage hike
April 12, 2014 12:16 AM
Former Tourism Minister Fadi Abboud weighed in Thursday on the public sector salary scale debate, suggesting a litany of potential revenue sources, including two controversial proposals: legalizing prostitution and marijuana.
 
MEA blames passenger fall on Syrian war
By Deena Kamel Yousef | April 12, 2014 12:16 AM
Lebanon’s Middle East Airlines said the war in Syria has wiped out a revival in tourist flows that had built since the end of the country’s own conflicts, with first-quarter passenger numbers down 7 percent.
CSR Lebanon: Banks should support startups
April 12, 2014 12:16 AM
Commercial banks should think beyond short-term profits and endorse the Central Bank’s initiative to support startups in Lebanon, according to a report by Responsible Business magazine.
 
S&P raises Lebanon’s outlook to stable
April 12, 2014 12:16 AM
Standard & Poor’s raised its outlook for Lebanon to stable Friday, citing the country’ steady financial system and deposit inflows, but reaffirmed its B-/B long- and short-term foreign and local currency sovereign credit ratings.
 
Bankers: raising taxes would wreak havoc
By Osama Habib | April 11, 2014 12:10 AM
The proposal to fund a public sector wage hike by increasing taxes on the interest earned on bank deposits will cost depositors LL280 billion ($186 million) and drive many to take their business elsewhere, the head of the Association of Banks in Lebanon said Thursday.
 
Spectrum begins next phase of onshore survey
April 11, 2014 12:10 AM
The second phase of the onshore oil survey has started in Lebanon, heartened by the encouraging results in first stage, an official with the company carrying out the work said Thursday.
 
Businesses: New taxes a bullet to economy’s heart
April 11, 2014 12:10 AM
Business leaders Thursday strongly rejected any new taxes to fund the proposed wage hike for government employees, describing the salary scale in its present form as a bullet in the heart of the economy.
 
Lebanon expects to begin gas drilling by 2015
By Osama Habib | April 10, 2014 12:17 AM
International energy companies will be able to start drilling for gas off the Lebanese coast at the end of 2015 if the August auction date is met, a source familiar with the tender process said Wednesday.


Baabda 2014
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