Lebanon

UN Welcomes Appointment of Members of the Lebanese National Human Rights Institution

Acting United Nations Special Coordinator for Lebanon Pernille Dahler Kardel and the Regional Representative of the Office High Commissioner for Human Rights (OHCHR) in the Middle East and North Africa, Abdel Salam Sidahmed, welcomed the Cabinet’s appointment yesterday of the ten members of Lebanon’s National Human Rights Institution (NHRI). “This…

Lebanon signs consulting contracts for CIP projects

The Higher Council for Privatization and Public-Private Partnership signed consulting and advising contracts with major international companies Thursday in a key step of the implementation of the Capital Investment Program presented at CEDRE. The CEDRE conference held in Paris in April garnered over $11 billion in soft loans and grants…

Development bank EBRD to invest $200M in Lebanon in 2019

The European Bank for Reconstruction and Development intends to invest at least $200 million in Lebanese equities, renewable energy and water resources in 2019, the development bank’s vice president Alain Pilloux said Monday. “We believe that as early as next year we should invest at least $200 million in the…

Lebanon’s GDP growth should hit 8 pct: study

Lebanon’s GDP growth should climb to 7 or 8 percent a year by activating tourism, real estate, construction and the banking sector, a study conducted by Fransabank said on Monday. “The Lebanese authorities should focus on enlarging the base of the national economy, mainly through activating the activity of leading…

LPA to prep for second gas licensing round

Energy and Water Minister Cesar Abi Khalil said Tuesday that he had instructed the Lebanese Petroleum Administration to prepare for the second offshore gas licensing round. “This is not the launch of the licensing round, but the beginning of the preparations that will benefit from the experience gained from the…

EIB to invest 800 million euro in Lebanon’s transportation

Lebanon will receive up to 800 million euro of support to public investments by 2020. So said President of the European Investment Bank (EIB), Werner Hoyer. “We stand ready to support Lebanon in the implementation of the government’s investment plan,” stated Hoyer. “We have provided nearly EUR 1.8 billion of…

Please mark your calendar for the 1st and the 2nd of August 2018

Dear colleagues, We are pleased to welcome you to the General Assembly of LIBC which will be held on 1st of August 2018 in Beirut. Proposal of agenda of General Assembly: Agenda of the General Assembly Meeting: 1- Reception 2- Establishing Quorum 3- Introduction 4- President Report 5- Financial Report…

Salameh rejects devaluation of pound

Central Bank Governor Riad Salameh Wednesday brushed off calls for a managed devaluation of the Lebanese currency, warning that such a step would be detrimental to the national economy. “We are not considering any devaluation because we believe that it will be detrimental to confidence, detrimental to the economy and…

Emirates makes history with one-off A380 touchdown in Beirut

The Emirates A380 touched down in Beirut today for a historic one-off service to Rafic Al Hariri International Airport (BEY), contributing to an aviation milestone for Lebanon and its hub airport. The landing demonstrated the airport’s readiness to accommodate the A380, the world’s largest commercial passenger jet. The special A380…

Lebanon anticipates economic revival

Lebanon’s economy is expected to improve even before offshore gas and oil exploration at the beginning of 2019, Energy and Water Minister Cesar Abi Khalil said Wednesday. A consortium of France’s Total, Italy’s Eni and Russia’s Novatek has signed agreements for offshore oil and gas exploration and production in block…