Assad regime cuts subsidies as Syria’s GDP falls to half prewar level

Syria’s economy is in a tailspin, and the regime of President Bashar al-Assad is increasingly struggling to find resources to quash the four-year-old rebellion, analysts say. The government has had to scale back subsidies for citizens for goods ranging from water to heating oil over the last six months. That has angered Syrians, who already […]

S&P upgrades Lebanon credit rating

Standard & Poor’s Ratings Services raised Lebanon’s sovereign-credit ratings and gave them a positive outlook because of banking resilience and the expectation of political stability in the medium term. Over three years of political flux, Lebanon’s public finances and especially its banking system remained resilient, according to S&P. In addition, the new party consensus improves […]