Beginning of Major Lay-Off Plan The bank which calls itself “The World’s Local Bank,” HSBC, has decided to lay-off at least 200 employees in six countries in the Middle East. The job cut of 200 in the region is just the beginning of a major reduction in worldwide employees reaching as many as 30,000 cuts… Continue Reading
Tag Archives: Lebanon
Israel and Lebanon File Protests at UN Over Border Confrontation
Diplomats representing Lebanon and Israel at the United Nations formally submitted protests concerning the violent border clashes that took place between Israel, Lebanon and Syria on May 15, Nakba Day, this past Sunday. Nakba is Day of Catastrophe May 15th is the day the Arab world calls Nakba, the Arabic word for ‘catastrophe.’ The day… Continue Reading
The Lebanese Government’s Fall Will Affect Investors
The Royal Bank of Scotland (RBS) predicted that Lebanese economic growth will slow to approximately 5 percent in 2011. This is a drop from the average growth rate of 8 percent last year. RBS said that the tourism, financial services, construction and housing sectors have been the growth leaders. However, due to political developments the… Continue Reading
Lebanese Banks get Bad Credit Rating Due To Government Collapse
Last Week, the Lebanese government fell after 11 ministers with Hezbollah leanings, resigned. Lebanon’s banks receive negative credit since Lebanon’s economic forecast for 2011 will fall with the Hariri government’s fall. Whether or not violence erupts, the joint factors of less economic growth together with market uncertainties would negatively affect Lebanese banks. Lebanese banks would… Continue Reading
Ziad Hayek , Secretary General Of The Higher Council For Privatization, Regarding Lebanon Privatization
Lebanon is currently putting in major efforts to privatize the telecom and electricity industries. There are two projects in the telecom industry which are headed for privatization. The first is to privatize the mobile networks. The second is to incorporate a company to serve as a provider of fixed line and broadband services. There are… Continue Reading
International Efforts To Solve Lebanon Crisis
Lebanese Prime Minister Sa’d Al-Hariri yesterday arrived in Saudi Arabia for an unplanned visit after his visit to France. Then he will probably fly to the U.S. where he will hold meetings and visit Saudi King Abdallah who is there for medical treatment. French Foreign Minister Michelle Alliot-Marie is expected to visit Lebanon. Members of… Continue Reading