Limited FDI in Lebanon for 2009 Foreign direct investment (FDI) in Lebanon remains relatively low despite a successful summer season and increasing bank deposits, according to the Investment Development Authority of Lebanon (IDAL), the Lebanese government institution that encourages development in the country. Speaking to The Daily Star, Nabil Itani, IDAL chairman, predicted that FDI in Lebanon during 2009 will not exceed $128 million, attributing the figure to a drop in the price of oil and the corresponding lack of investment appetite from Gulf investors. “Total investments, including real-estate projects, are not expected to exceed $2.9 billion although we had a good summer season,” Itani told the newspaper. Zain sells $13.7 billion stake A group of Indian and Malaysian investors have successfully bid for a 46 percent stake in the regional telecom giant Zain. The share has been on offer for some time and there had been widespread speculation that
