Lebanon’s investor risk surged to the highest level in 10 months amid concern that sectarian violence in the most indebted Arab country may escalate after Hezbollah openly joined the war in neighboring Syria.
Lebanon’s Cabinet approved a draft 2010 budget, the first budget to be endorsed in five years by a government, in a country marred by political differences that have obstructed policy-making decisions.
Five years after the murder of former Lebanese premier Rafiq Hariri , his son’s government of national unity has sought to stabilize a country torn for decades by sectarian war. The search for Hariri’s killers puts that goal at risk.
EFG-Hermes Holding SAE , the biggest publicly traded Arab investment bank, agreed to acquire a 65 percent stake in Beirut-based Credit Libanais SAL for $542 million to expand in consumer and commercial banking.