INTERNATIONAL. Concerned about possible Israeli encroachment upon recently discovered offshore natural gas fields, Lebanon's Parliament has passed draft legislation demarcating its maritime borders with Israel. The 18-article law was drafted in the Parliament’s Public Works, Transport, Energy and Water Committee, headed by MP Mohammad Qabbani, The Daily Star reported. At issue are two massive offshore natural gas fields, Tamar and Leviathan, off Israel's northern city of Haifa, where initial prospecting estimates have concluded that the pair of sites between them could hold as much
INTERNATIONAL. The surprise declaration of a "caliphate" by jihadists accused of committing atrocities in Syria and Iraq has provoked an outcry even among Islamists who dream of a state under Sharia law.
LEBANON. The event tackled key issues affecting the concrete and construction industry, and offered high-quality discussions on trends and developments to address the challenges affecting the local industry and key regional markets.
LEBANON. Report issued by Byblos Bank, in cooperation with the American University of Beirut; "The high cost of living, an eroding purchasing power and the poor quality of basic day-to-day public services, continued to affect consumer confidence."
INTERNATIONAL. We have entered a new chapter in the history of central banking. This paradigm shift changes the policy tools that have traditionally defined the sphere of macroeconomic decision-making; We have built an economy that is now so leveraged that it needs zero percent interest rates just to tread water.
SAUDI ARABIA. Saudi Arabia will need to keep cutting oil output to sustain prices above US$100 a barrel, according to BNP Paribas and Societe Generale; "We are swimming in crude, and they know that better than anyone because they are the biggest exporter."