Beirut's Solidere announces $31.8 million annual loss
Lebanon's largest firm, Solidere, announced Friday, May 11, a loss of $31.8 million for the year 2000 compared to the previous year’s $3.7 million profit. The loss is the first ever of the real estate company, which owns most of the property in downtown Beirut and has a notible effect on the state of the Lebanese economy.
Prime Minister Rafik al-Hariri, Soldiere’s founder and largest shareholder, said that "the result is not a surprise given the economic situation in the country." — (MENA Report)
© 2001 Mena Report (www.menareport.com)