Mon, Mar 10 2008, 15:58 GMT
by Credit Libanais Research Unit
In the banking sector, the consolidated balance sheet of commercial banks in Lebanon revealed a 0.99% monthly expansion in total banking sector assets to LBP 125,227 billion as at end of January 2008, up from LBP 123,999 billion in December 2007.
According to the Lebanese Ministry of Finance, Lebanon raised some $875 million in new Eurobonds with a maturity of five years aiming at refinancing maturing debt. The issue price was 99.508 bearing a coupon rate of 9.125%.
According to the Beirut Stock Exchange (BSE) monthly bulletin, traded value expanded significantly by 20.87% on an annual basis in the first two months of 2008 to $121 million as at end of February. During the month of February alone, traded value fell by 23.26% year-on-year from $56.6 million in February 2007 to $43.4 million in February 2008.
According to Middle East North Africa Financial Network (MENAFN), the Egyptian Central Bank Committee approved five out of twelve submitted bids concerning the takeover of Bank De Caire.
The U.S. Labor Department reported a 63,000 contraction in non-farm payrolls in February 2008, the lowest job growth since March 2003. February’s contraction in non-farm payrolls came in contradiction with U.S. economists’ expectations of 20,000 expansion.
Published on Mon, Mar 10 2008, 16:09 GMT
Credit Libanais
| Sofil Center 5th floor, Charles Malek Avenue, Ashrafieh 1100 2811, Beirut
http://www.creditlibanais.com | info@creditlibanais.com
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program