The Messiah? Chafic Muharram, former vice governorof the central bank, has been asked totake over the helm of the faltering BanqueLibanaise pour le Commerce (BLC) by thebank’s general assembly. As …
Category:
Money Matters
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Not a bad start. Only two years after the central bank let Credit Libanais loose in the market – followed by a complete restructuring program (see “Back to life,” December …
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Expectations for most industries arefairly routine. When sales sink inthe middle of an economic slowdown,earnings should follow suit. Not soat Uniceramic, Lebanon’s leading ceramictile manufacturer, whose sales dropped 9%in 1999. …
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“It was a real mess,” describes ElieGhorayeb on what he saw when hefirst came in as Casino du Liban’schairman and general manager in March1999. His objective: do a clean-up job. …
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The US is experiencing its longest economic growthperiod in history. The end of February marked the107th month of strong economic performance,surpassing its previous record set in the colorful 60s (106months …
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Global economic optimism may have lost its upwardmomentum according to our February Fund Manager Survey.The inversion in the US yield curve could be taken as a signthat Fed rate hikes …
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The resumption of talks betweenIsrael, Syria, and Lebanon is generatinghopes that a peace agreementcould be reached this year. Such adevelopment would enhance regional stability,reduce the degree of risk perceived byforeign …
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In the middle of January, Solidere BLC Banque Libanaise pour leCommerce enjoyed a rather rockymonth that saw it subdued by negativesentiments following its declarationof 1998 profits of a …
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It wasn’t all that bad for Lebanon’s listedbanks last year. Caught in the middleof the country’s worst recession since thewar, falling interest rates that put a squeezeon spreads and competition …
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Shape up or ship out. Those were thewords of warning given to insurancecompanies when the new insurancelaw was finally passed last May, thoughthe original draft legislation was prepared in1993. It …