Beirut hotels occupancy saw 10% drop in Q1

According to a report by Ernst & Young, occupancy at hotels in the Lebanese capital, Beirut, dropped 10% in the first quarter of 2013, as room yields dropped 35%, The Daily Star has reported. The average occupancy rate at hotels in Beirut was 56%...

Lebanese central bank blocks MEA's bid for Cyprus Airways

The Lebanese central bank has said it could not approve Middle East Airlines' (MEA) bid to acquire financially troubled Cyprus Airways as such a deal could increase risks for the Lebanese carrier, The Daily Star has reported. "Commercially, this...

Lebanon cuts budget deficit by around 90%

The Lebanese finance ministry has said the country's budget deficit fell to LL27bn ($17.95m) in January 2013 or 1.71% of expenditures, compared with LL265bn ($172.2m), or 14.94% of expenditures during the same month last year, The Daily Star has...

Lebanese lenders vow compliance with US sanctions

Lebanon's Association of Banks (ABL) have said they would comply with any sanctions imposed by the US Treasury, after two Lebanese money exchange houses were designated as a primary money-laundering concern, The Daily Star has reported. Last week,...