Bankers say 'buy Beirut' as bombs fall

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/07/19/cnbeirut19.xml&menuId=242&sSheet=/money/2006/07/19/ixcitytop.html

The Beirut Stock Exchange is closed, 52 bridges have been blown up, and Israeli missiles are still raining down daily on Hizbollah strongholds in south Lebanon, yet the country's unruffled bankers say now is the perfect time to plunge into Levantine equities.

"This is pure psychological panic," said Dr Shadi Karam, chairman of BLC Bank in Beirut. "The fall in stocks is totally unjustified by fundamentals. A few bank branches have been hit by shrapnel but nobody has been hurt by Israeli warships in the downtown area. It's very safe actually."

Dr Karam said he believed the bombardments were punitive strikes, down-playing the risk of a full invasion that could set the Middle East alight.

"They want to teach Lebanon a lesson but they're going to think twice before trying to fight a very difficult guerrilla war on enemy terrain. Israel lost too many men last time they tried."

more...

I HATE the state of the world right now. It's so f..king twisted and demented that I can't stand it.

Disgusting. :puke:

Finance affects people. Some people work full-time in finance. If they agree to take a break from finance then will you agree to take a break from eating?

Perhaps, if it would save lives and eliminate snarky ass comments.

People plant crops, take care of them, harvest them, transport the food, etc. before the retail customer actually pays cash at the grocery store.

I wasn't actually recommending that you take a break from eating.

The translation from brain to post comes across awkward sometimes.

dust settles, they will control the Lebanon economy like the Palestinains economy and they will be at the mercy of Israel to make a livelihood. I hope this doesn't happen.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x2398101


BEIRUT: Israel switched gears in its military campaign against Lebanon Monday and Tuesday, launching a series of debilitating air strikes against privately owned factories throughout the country and dealing a devastating blow to an economy already paralyzed by a week of hits on residential areas and crucial infrastructure.

The production facilities of at least five companies in key industrial sectors - including the country's largest dairy farm, Liban Lait; a paper mill; a packaging firm and a pharmaceutical plant - have been disabled or completely destroyed. Industry insiders say the losses will cripple the economy for decades to come.

snip>

Due to broken lines of communication to the affected areas, the full extent of the material and human damage was still unknown when The Daily Star went to press. However, up to 15 factories have been hit, according to some estimates.

Bisri confirmed that a plastics factory in Tyre, a tissue paper factory in Sidon, a paper mill and a medical supply company in Beirut's southern suburbs and Liban Lait in the Bekaa were all almost completely destroyed. Bisri declined to give the companies' names.