Bahrain, Qatar and the United Arab Emirates urged their citizens to stay away from Lebanon, citing security concerns in a country where fighting prompted by sectarian tensions in neighboringSyria has unsettled areas near a northern port. The three Gulf states' Foreign Ministries urged all those already in Lebanon - a favorite destination for wealthy Gulf tourists - to leave because of the "security situation" in the country, the official news agencies BNA, QNA and WAM reported. Tourists from Gul
Finance Minister Mohammad Safadi said Lebanon plans to raise US$2 billion from international bond markets this year after borrowing costs of the most-indebted Arab country dropped to a record. The ministry also plans to exchange existing debt valued at US$3 billion with new bonds within the coming year, Safadi told Bloomberg in an interview. Lebanon’s borrowing costs dropped to close to a record low as investors dismiss the effect of Syria’s crisis on banks in the most indebted Arab nation. The
A team from Alfa, the first Lebanese mobile network managed by Orascom Telecom, and VIAMOBILE successfully completed on April 27, 2012 the first test on the Smart Park service that allows users to pay their parking meter fee at the edges of the road by SMS. The test was successfully conducted for the first time in the Achrafieh - Sassine area. The Smart Park service that will soon become operational in Lebanonis the ideal solution to make life easier for citizens who are holders of mobile phone
Orange Business Services and Solidere, the Lebanese company for the development and reconstruction of the Beirut Central District, have renewed and enhanced a five-year telecoms infrastructure contract. Both companies showcased the network and associated applications to the corporate, business and residential customers in the district during an exhibition held from February 17-19 at the Beirut Souks. For the past five years, Solidere has been delivering an on-demand IPTV channel service in its
The World Bank said Friday that most of the capital inflows into Lebanon have been channeled into banks and real estate projects rather than productive sectors. “Domestic monetary policies in Lebanon have been constantly oriented toward securing permanent financial inflows to the country. These policies, together with strong banking regulation and tight monitoring from the Central Bank, have magnified foreign inflows that are essentially related to oil wealth and regional oil price. These poli