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Business Lebanon

  • ABU DHABI, Nov 14- The political crisis in Lebanon shouldn't delay the country's first oil and gas offshore licensing round, its energy minister said on Tuesday. Lebanon sits on the Levant Basin in the eastern Mediterranean where a number of big subsea gas fields have been discovered since 2009, including the Leviathan and Tamar fields situated in Israeli...

  • *Hariri delivers blunt message from Saudis to Lebanon. *Riyadh wants Hezbollah to stop regional meddling. Unlike Qatar, the world's biggest supplier of liquefied natural gas with a population of just 300,000, Lebanon has neither the natural nor financial resources to ride it out, and people there are worried.

  • Saad Hariri, former Prime Minister of Lebanon and the leader of the Future Movement party, attends the '2nd General Assembly meeting of Future Movement party' in Beirut, Lebanon on November 26, 2016.

    Saad al-Hariri, who announced his resignation as Lebanon's prime minister while in Saudi Arabia, said he would return to his country within days.

  • Saad Hariri, former Prime Minister of Lebanon and the leader of the Future Movement party, attends the '2nd General Assembly meeting of Future Movement party' in Beirut, Lebanon on November 26, 2016.

    Prime Minister Saad Hariri's resignation could unravel the recovery of Lebanon's anemic economy.

  • Lebanon has long been buffeted by blows from the great-powers rivalry between Saudi Arabia and Iran. That may have changed Saturday when the Saudi-aligned Hariri announced his resignation in a televised statement from the kingdom's capital, Riyadh, saying Hezbollah, Iran's proxy in Lebanon, had taken the country hostage. Saudi Arabia, which feels it has been...

  • BEIRUT/ RIYADH, Nov 10- The first hint that something was amiss came in a letter. On Saturday Nov. 4, guests at Riyadh's Ritz Carlton were notified by the opulent hotel that: "Due to unforeseen booking by local authorities which requires an elevated level of security, we are unable to accommodate guests... until normal operations are restored." Within hours security...

  • Adding to the woes were rising tensions in the Middle East in the wake of Lebanon's Prime Minister Saad al-Hariri's resignation during a visit to Saudi Arabia nearly a week ago, plunging Beirut into a deepening political crisis. Saudi Arabia and other Gulf countries have warned their citizens against travel to Lebanon. Lebanon dollar bonds took another hit,...

  • *Senate Republicans propose delay in corporate tax cut. LONDON, Nov 10- World stocks edged lower on Friday on signs that U.S. tax reforms could be delayed after Senate Republicans unveiled a plan that differed significantly from the House of Representatives' version. "I think there's a feeling out there that there's a long awaited correction, and no one wants to be...

  • Saad Hariri, former Prime Minister of Lebanon and the leader of the Future Movement party, attends the '2nd General Assembly meeting of Future Movement party' in Beirut, Lebanon on November 26, 2016.

    France's foreign minister said on Friday he believed that former Lebanese Prime Minister Saad al-Hariri was not under house arrest in Saudi Arabia.

  • We see Hezbollah's mischief all over the region

    Adel Al-Jubeir, Saudi minister of foreign affairs, says that "the world has to make sure that we designate Hezbollah as a terrorist organization."

  • *Saudi bonds fall across curve, Lebanon 2020 lowest on record. LONDON/ DUBAI, Nov 8- A sell-off in Middle Eastern bond markets escalated on Wednesday with debt prices in Saudi Arabia, Bahrain and Lebanon all touching long-term lows following Saudi Arabia's anti-graft purge and government turmoil in Lebanon. Some of Saudi Arabia and Bahrain's...

  • *Saudi bonds fall across curve, Lebanon 2020 hit lowest on record. LONDON/ DUBAI, Nov 8- A sell-off in Middle Eastern bond markets escalated on Wednesday, with debt prices in Saudi Arabia, Bahrain and Lebanon all hitting long-term lows following Saudi Arabia's political purge and government turmoil in Lebanon. Some of Saudi Arabia's and Bahrain's...

  • LONDON, Nov 8- Most emerging market currencies steadied on Wednesday after a sharp sell off towards the end of Tuesday's London trading caused by a dollar bounce, but stocks failed to make headway following mixed Chinese trade data. Tuesday's falls saw the Russian rouble lose 1.99 percent against the dollar to touch 2-1/ 2 month lows, while the Turkish lira came...

  • Matthew Bey, senior global analyst at Stratfor, says Saudi Arabia wants to keep pressure on Iran in the region so that it can manage changes at home.

  • LONDON, Nov 7- Emerging stocks kept a rally on track on Monday, scaling six-year highs, but Middle Eastern bourses reeled from fallout from an anti-graft purge in Saudi Arabia's among business and political elite. Having taken a breather at the end of last week, MSCI's emerging market index rose 0.6 percent in a second day of solid rises thanks to a lift from Asia,...

  • But two days after Prime Minister Saad al-Hariri resigned in a broadcast from Saudi Arabia, the cash price of Lebanon's U.S. dollar-denominated bonds fell, with longer-dated maturities suffering hefty losses as investors took a dim view of the medium- to longer-term outlook for Lebanon. Finance Minister Ali Hassan Khalil said Lebanon and its financial...

  • Supporters of Lebanon's Hezbollah party parade to mark the last day of Ashura ceremony in Beirut.

    The president urged all Middle Eastern states to help maintain regional stability after Lebanon's leader suddenly left office.

  • LONDON, Nov 6- Saudi Arabia's stock market fell over 1.5 percent on Monday as a purge by its Crown Prince on fellow royals, ministers and businessmen appeared to be widening, though it was offset by gains elsewhere including a record high for South Africa. The heaviest Saudi falls saw a near 5 percent slump in detained billionaire Prince Alwaleed bin Talal's...

  • *Hariri criticises Iran and Hezbollah in resignation. BEIRUT, Nov 4- Lebanon's Prime Minister Saad al-Hariri resigned on Saturday, saying he believed there was an assassination plot against him and accusing Iran and its Lebanese ally Hezbollah of sowing strife in the Arab world. It thrust Lebanon into the front line of a regional competition between Sunni...

  • *Hariri criticises Iran and Hezbollah in resignation. BEIRUT, Nov 4- Lebanon's prime minister Saad al-Hariri resigned on Saturday, saying he believed there was an assassination plot against him and accusing Iran and its Lebanese ally Hezbollah of sowing strife in the Arab world. It thrust Lebanon into the front line of a regional competition between Sunni...