Business News Lebanon

  • *Lebanon has one of world's highest public debt burdens. BEIRUT, May 21- Heavily-indebted Lebanon is close to finalizing its draft 2019 budget aimed at cutting the deficit to 7.6% of gross domestic product despite social protests over feared benefits losses. Lebanon's ministers will convene again on Wednesday for a final reading of the draft budget,...

  • *Lebanon to muddle through May debt maturity. LONDON, May 20- Lebanon's impasse in agreeing a credible fiscal reform plan and deteriorating global market conditions means it may struggle to refinance key foreign currency debts coming due this year, unnerving overseas investors. Lebanon's cabinet talks will convene again on Monday after about a dozen...

  • *Lebanon to muddle through May debt maturity. LONDON, May 17- Lebanon's impasse in agreeing a credible fiscal reform plan and deteriorating global market conditions means it may struggle to refinance key foreign currency debts coming due this year, unnerving overseas investors. Prime Minister Saad al-Hariri has said this may be the most austere budget in...

  • BEIRUT, May 13- Retired Lebanese soldiers blockaded the central bank on Monday to warn the government against curbing their benefits in an escalation of protests against plans to cut state spending. A central bank official told Reuters the central bank operated as normal despite the protest outside its Beirut headquarters. With Lebanon suffering from years...

  • BEIRUT, May 13- Retired Lebanese soldiers blockaded the central bank on Monday to warn the government against curbing their benefits in an escalation of demonstrations and strikes against plans to cut state spending. A central bank official told Reuters the central bank operated as normal despite the protest outside its Beirut headquarters.

  • Beirut, May 13- Retired Lebanese soldiers blockaded the central bank in Beirut on Monday in protest against draft state budget proposals they fear would curb military benefits, an escalation of demonstrations and strikes against the heavily indebted state's austerity plans. A central bank official told Reuters the central bank was operating as normal...

  • Beirut, May 13- Lebanon's central bank is operating as normal despite retired soldiers blocking its entrances in protest against pension and benefit cuts as the government debates a draft budget, a central bank official told Reuters on Monday. Protesters are blocking the main road outside the bank, choking rush hour traffic on one of Beirut's busiest streets.

  • *Syria says campaign targets jihadists, UN says schools hit. BEIRUT/ ANKARA, May 4- Syrian government forces and their Russian allies pounded the rebel-held northwest of Syria with air strikes on Saturday, sources in the area said, as artillery hit a Turkish military position there, underlining the risk of wider escalation. The United Nations has said the attacks...

  • BEIRUT, April 30- Lebanon's President Michel Aoun urged ministers on Tuesday to speed up discussions on the 2019 draft budget so that parliament can approve it by the end of May. Prime Minister Saad al-Hariri has said Lebanon faces catastrophe if the government does not carry out what may be the most austere budget in its history. A few hundred retired army...

  • BEIRUT, April 16- The Lebanese government has yet to disclose its budget for 2019 but protesters are already in the streets fearing the "difficult and painful" reforms it is expected to announce as it tries to get spending in control and rein in public debt. "We went out today to tell them that our pensions are a red line," said Khaled Ammar, one of a number of retired...

  • BEIRUT, April 5- Lebanon announced on Friday five offshore blocks to be included in its coming bidding round for energy exploration and production licences, including four along disputed maritime borders. "We expect greater participation in the second round of licensing," Boustani said, adding that representatives from Russia's Lukoil, Spain's Repsol and...

  • A ultra-Orthodox Jewish man stands behind a voting booth in Jerusalem.

    In every Israeli election since 1948, the top issue has been security. But the economy has become a major focus for voters as they head to the polls on Tuesday.

  • The first substantial account of the last minutes of Ethiopian Airlines flight 302 from Addis Ababa to Nairobi on March 10 described how the captain three times called out: "Pull up" and was acknowledged by the first officer, but to no avail. Boeing's top-selling aircraft, the 787 MAX, has been grounded worldwide since the March 10 disaster, which killed 157 people...

  • *March 10 accident followed Lion Air 737 MAX crash in Oct. ADDIS ABABA, April 4- Ethiopia urged Boeing to review its flight control technology and said pilots of state carrier Ethiopian Airlines had carried out proper procedures in the first public findings on the crash of a 737 MAX jet that killed 157 people. Boeing's top-selling aircraft has been grounded...

  • *March 10 accident followed Lion Air 737 MAX crash in Oct. ADDIS ABABA, April 4- Ethiopian investigators urged Boeing to review its flight control technology and said pilots of state carrier Ethiopian Airlines had carried out proper procedures in the first public findings on the crash of a 737 MAX jet that killed 157 people. Boeing's top-selling aircraft has...

  • *March 10 accident followed Lion Air 737 MAX crash in Oct. ADDIS ABABA, April 4- Ethiopian investigators urged Boeing to review its flight control system and said pilots of state carrier Ethiopian Airlines had carried out proper procedures in the first official findings on the crash of a 737 MAX jet that killed 157 people. Boeing's top-selling aircraft has been...

  • ADDIS ABABA/ PARIS, March 21- At the headquarters of the Ethiopian Civil Aviation Authority, a paper sign balanced above room 107 and a threadbare square of carpet welcome a stream of foreign visitors to the Accident Investigation Bureau. The office- with three investigators and an annual budget of less than 2.5 million Birr- is leading a multi-party,...

  • YOKOHAMA, Japan, March 20- In September 2007, despite weighty responsibilities at the helm of Nissan Motor Co and alliance partner Renault SA, Carlos Ghosn found time to get involved in a seemingly straightforward business decision. Two days before Nissan's executive committee was due to formalise the choice of a company called TVS as a partner for sales and...

  • NAIROBI, March 10- An Ethiopian Airlines passenger jet bound for Nairobi crashed minutes after take-off on Sunday, killing all 157 people on board and raising questions about the safety of the Boeing 737 MAX 8, a new model that also crashed in Indonesia in October. Sunday's flight left Bole airport in Addis Ababa at 8:38 a.m., before losing contact with the...

  • NAIROBI, March 10- An Ethiopian Airlines passenger jet bound for Nairobi crashed minutes after take-off on Sunday, killing all 157 people on board and raising questions about the safety of the Boeing 737 MAX 8, a new model that also crashed in Indonesia in October. Sunday's flight left Bole airport in Addis Ababa at 8:38 a.m., before losing contact with the...