Home The BuzzBusiness briefing: 18 June 2013
The Buzz

Business briefing: 18 June 2013

by Executive Staff
written by Executive Staff

Economics and Policy

Shoring up the Lebanese industrial sector is key for restoring economic stability, said officials who celebrated the “Lebanese Industry Day” on Monday.

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Lebanon’s public debt swelled by nearly $5 billion during the term of former premier Najib Mikati’s Cabinet, the secretary-general of the Association of Banks in Lebanon said.

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The United Arab Emirates has revived a proposal to merge its two main stock exchanges in a state-backed deal that could boost trade in the local market and attract more foreign investment to the Gulf state.

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Iran’s newly elected president, Hassan Rouhani, has pledged to follow a “path of moderation” and promised greater openness over the country’s nuclear programme.

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Companies and Business
Banque Libano-Francaise recorded a net profit of $38.6 million in the first quarter of 2013, up from $8.8 million in the same period of 2012.

Le Bristol, one of Lebanon’s most famous hotels, is investing up to $30 million in renovations.

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