New sanctions: Iran won’t be paid in cash for its oil

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 to search for Lebanon’s offshore oil and gas?

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 […]

Choucair warns about a repeat of economic disaster in 2013

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 […]

Salameh assures the Lebanese ” No recession in 2013″

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 […]

Tunis air to lay off 1700 employees

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 […]

Will Syria’s Dwindling Reserves Bring Down the Regime?

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.