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| By Mohamad El Amin | May 23, 2013 01:06 AM |
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The Union Coordination Committee Wednesday accused the Finance Ministry of intentionally submitting salary scale bills with errors in them in a bid to delay the ratification of a wage hike in Parliament.
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| May 22, 2013 01:40 PM |
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Gasoline prices inch slightly higher, with 20 liters of 95-octane selling at LL32,400.
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| By Lysandra Ohrstrom | May 22, 2013 01:09 AM |
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Though the volume of car sales in Lebanon rose steadily in the first four months of 2013, Lebanese car dealers claim the seemingly rosy statistics mask a worrying decline in local purchasing power.
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Middle East
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International
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Analysis
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Two Bahraini banks in merger talks
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| May 24, 2013 01:08 AM |
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Bahrain’s Al-Salam Bank and BMI Bank, an affiliate of Oman’s Bank Muscat, have announced plans to merge, a tie-up which would create the kingdom’s third-largest bank by assets, the lenders said in a statement.
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Glencore, Trafigura deals with Iran may have skirted sanctions: U.N.
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| Louis Charbonneau | May 24, 2013 01:08 AM |
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Metals swap deals with Iran by Switzerland-based commodities giants Glencore Xstrata and Trafigura could have been a way of skirting international sanctions against Tehran over its nuclear program, according to a confidential U.N. Panel of Experts report seen by Reuters Wednesday.
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U.S. jobless claims data suggests labor market strength
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| Lucia Mutikani | May 24, 2013 01:06 AM |
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The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington.
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British economy returns to growth in first quarter
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| May 24, 2013 01:06 AM |
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Britain’s economy expanded by 0.3 percent in the first quarter of 2013, official data confirmed Thursday, returning to growth and avoiding its third recession since the 2008 global financial crisis.
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Russia tones down anger on Cyprus but questions remain
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| Stuart Williams | March 31, 2013 09:25 AM |
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The Kremlin's sudden change in tack raises a range of questions about the murky world of Russian money in Cyprus and the effect of the Cyprus bailout deal on the Russian economy.
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Cyprus sends rumbles through shaky banking system
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| David McHugh | March 29, 2013 07:10 PM |
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This week's deal to rescue Cyprus and its banks from financial collapse has renewed fears about Europe's shaky financial system and where trouble might next appear.
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Auto inspection staff stage strike over contract
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| May 24, 2013 01:08 AM |
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Some 400 workers at four vehicle inspection centers across Lebanon went on strike Thursday after the Saudi company that hired them said its contract with the state ends this June.
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Lebanese firm GLB to invest up to $800M in Sudan
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| By Ulf Laessing | May 22, 2013 01:09 AM |
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Lebanese farmland investor GLB Invest plans to sink up to $800 million in Sudan to produce animal feed to be sold to Saudi Arabia, its president said Tuesday.
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Salameh rules out bank financing for PPPs
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| By Mohamad El Amin | May 22, 2013 12:59 AM |
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Lebanese commercial banks will not be authorized to pour investments into potential public-private partnerships, Central Bank Governor Riad Salameh said Tuesday, adding that capital markets and financial institutions would fill the gap.
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EDL: Lights to come back on ‘soon’
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| May 21, 2013 01:07 AM |
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Severe power rationing continued in Beirut and other regions, with EDL saying the repairs in Zahrani and Deir Ammar plants had been completed and they expected service to return to normal “very soon.”
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Kafalat loans drop 25 percent to $33.5M
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| May 20, 2013 12:59 AM |
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Figures released by the Kafalat Corporation show that loans it extended to small- and medium-sized enterprises fell to $33.5 million in the first four months of 2013, down nearly 25 percent from $44.5 million in the same period last year.
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World Bank injects $30M into poverty program
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| May 20, 2013 12:59 AM |
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The World Bank has approved a $30 million soft loan aimed at supporting a government initiative to improve access to basic services in impoverished parts of the country.
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Syrian demand for rented flats keeps market stable
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| By Mohamad El Amin | May 18, 2013 12:56 AM |
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Demand by Syrians for housing has kept the real estate market in Lebanon stable, real estate brokers said, with some also estimating that rentals by refugees from the conflict-wracked country has driven up rents for small apartments in Beirut.
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Torbey: Banks have exceeded Basel III ceilings
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| May 18, 2013 12:56 AM |
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Lebanese banks are flush with liquidity and the capital adequacy ratio is even higher than the ceiling set by Basel III, the head of the Association of Banks in Lebanon said Friday.
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Outlook negative for Lebanon's biggest banks: Moody's
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| By Mohamad El Amin | May 16, 2013 12:32 PM (Last Updated: 16/05/2013 04:24 PM) |
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Moody's ratings agency has revised from stable to negative the outlook on the long-term local and foreign currency deposits ratings of the three largest Lebanese banks.
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Limited 4G network arrives in Beirut
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| By Lysandra Ohrstrom | May 16, 2013 01:37 AM |
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Alfa unrolled the country’s first commercial 4G data service in certain areas of Beirut Wednesday and Lebanon’s second mobile operator, touch, is set to follow suit next week.
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BLOM issues new cobranded credit cards
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| May 16, 2013 01:37 AM |
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Credit card operations are set to remain a significant area of growth as banks tap innovative products after catching up on basic offerings, the deputy general manager of BLOM bank said in an interview.
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