Author Archives: Tony Hchaime

Looking to Lebanon

Looking to Lebanon

The Sannine Zenith project was unveiled at a Jeddah conference on January 17th, when the audience was told that the project would cover almost 100 million square meters (the size of Beirut) and be home to a population of 30,000. It will also accomodate a 3 million square meter man-made lake, 18 million square meters

Is it worth the risk?

Fluctuating performances, a harsh competitive environment, a limited market, and high threats of terrorism and war are just a few of the critical factors affecting both the current operations of foreign banks in Lebanon, and their future strategies with that regard. Major shock waves have hit foreign banks in Lebanon over the past few years,

Battling debt

The Lebanese government’s successful efforts to put on hold the almost weekly auction of Lebanese Pound Treasury Bills some nine months ago is a positive development many. Local and international economists attributed the move to the substantial increase in liquidity levels pursuant to the Paris II donor conference held during the fall of 2002. The

Balancing act

At the press conference in which he outlined the 2004 budget, minister of finance, Fouad Siniora, began by justifying why the 2003 budget was missed by such a sizeable margin. According to figures for the first nine months of 2003, the deficit stood at around 38%, compared to almost 40% for the same period last

Tough sell

Recent data suggests that commercial banks and financial institutions in Lebanon are increasingly shying away from corporate lending. In fact, most major banks remain wary of the Lebanese corporate environment, as they still attempt to mend their existing portfolios of corporate debt, to the extent of actually reducing the size of their portfolio of commercial

Promising performances

The rather tired theory that the banking sector is one of the sectors most likely to spur an economic upturn was given a boost by the promising performance of leading Lebanese banks over the past six months. The major turning point for both the Lebanese economy in general and the banking sector in particular was