Continuous delays

Rallies at the Beirut Stock Exchange (BSE) are rare. There has been little interest In Lebanese stocks for the last two and a half years. Trading volume dropped from $640 million in 1997 to $90 million last year. In the first eight months of 2000, it dropped another 30% compared to the same period in 1999. One of many complaints among stockbrokers has been the market’s antiquated fixing system. Even though the BSE Is ready to bring In continuous trading – a two-hour session after price fixing – the government has been slow giving a green light. According to Fadi Khalaf, BSE chairman, the council of ministers gave approval in May but passed it on to the Shura council. Is the government offering another example of taking forever to approve a change that brings positive results? “The delay is due to the Shura council who has sat on the decree