Economic Developments In the Third Quarter of 2008
According to the seventh Paris III progress report released by the Lebanese Ministry of Finance ("MOF") last week portraying the performance of the Lebanese economy in the third quarter of 2008, total agreements signed with international donors until September 2008 have reached $4.729 billion out of a pledged amount of $7.532 billion secured in aftermath of the Paris III Summit.
Activity On The Beirut Stock Exchange up to October 2008
According to the Beirut Stock Exchange (BSE) monthly bulletin, traded value soared by 114.06% y-o-y to $1,470 million in the first ten months of 2008. During the month of October alone, traded value regressed by 4.51% to $129.60 million in October 2008 from $135.73 million in October 2007.
Credit Libanais’ Performance In The Third Quarter of 2008
In the Lebanese banking sector, Credit Libanais released its third quarter unaudited financial statements unveiling a staggering 70.86% annual increase in net profits to $44.27 million as at end of September 2008.
Kuwait’s Inflation In July
According to Reuters, Kuwait’s inflation rate eased to 11.1% in July down from 11.35% in June, thanks to the contraction in food and construction prices.
Unemployment and Non-Farm Payrolls In October 2008
The U.S. Labor Department reported some 651,000 job cuts during the three-month period ending October 2008, the largest decline since 14 years.
