Grappling with severe fuel shortages and winter temperatures that drop below freezing, Syrians are spending hours in line every day for gasoline or a few loaves of bread at soaring prices as President Bashar Assad’s regime faces mounting difficulties in providing basic services to its people.
Ever since European seaports closed their gates to Iranian oil tankers last summer, Iran has looked to the East to keep its economy afloat. Countries such as China, India and South Korea — some of them critics of Western sanctions — have offered Iran a lifeline of reliable markets and much-needed dollars.
British companies could soon be involved in the search for oil and gas off Lebanon’s shores. At least that’s the hope of the UK government who are asking British companies to register an interest in searching for oil and gas in Lebanon’s exclusive economic zone (EEZ). They have until the end of February 2013 to […]
President of the Lebanese Federation of Chambers of Commerce, Industry and Agriculture Mohammad Choucair, warned the government against a repeat of the year 2012 economic downturn in 2013 and accused it of dissociating itself from the economy of Lebanon warning that the sale of Movenpick Hotel came at a very sensitive time suggesting that Lebanon […]
Central Bank Governor Riad Salameh assured the financial community on Monday that the Central Bank of Lebanon will maintain monetary stability in 2013, stressing that the country had only witnessed a slow down not a recession in 2012. “The economy is bracing for a slowdown in 2013 but we will not enter recession,” Salameh assured […]
The Egyptian pound hit a record low on Sunday after the central bank imposed a new currency regime to try and stem a deepening economic crisis that presents a further challenge for President Mohamed Mursi. The currency
The state-owned Tunisian Airlines ( Tunis air) will lay off 1,700 workers over the next two years due to financial difficulties, according to a report by the Tunisian official news agency on Friday. This is the first public company in Tunisia to declare its intention to lay off workers, following the toppling of the former […]
With more than 40,000 people killed in Syria’s devastating war, and about three million people driven from their homes, Western and Arab leaders are grappling with one question: How and when does all this end? The answer, say some, might lie not in the horrific bloodshed but in a simpler factor: money.
Profits of Lebanese bank subsidiaries operating in Syria plunged more than 69 percent in the first nine months of the year, as the two-year revolt against Bashar Al Assad and international sanctions take their toll on the country’s economy
The extended standoff between President Mohammed Morsi and secular-leaning protesters is heaping new uncertainty on Egypt’s fragile economy and raising alarm from big international donors, just as businessmen and investors were seeing glimmers of hope.