VOL. XLIV

No. 21

21-May-2001

LEBANON

Solidere Attributes First Ever Loss To Legislative And Bureaucratic Hurdles

The Lebanese corporate giant Solidere, mandated with the task of rebuilding the Beirut Central District (BCD) in 1993, has announced for the first time ever net annual losses. In its latest financial statements, Solidere reported a loss of $31.8mn for the year 2000, having netted an income of $3.7mn in 1999, $54mn in 1998 and $78mn in 1997. Solidere which is charged with building the...