It will also cut real GDP growth by 2.85% a year between 2012 to 2014, double unemployment to above 20% and widen the deeply indebted nation's deficit by $2.6 billion.

Smugglers, middlemen and small companies are finding ways to do profitable business, operating from neighboring countries such as Lebanon.

The Lebanese Canadian Bank was accused of using the U.S. banking system to launder drug-trafficking profits through West Africa back to Lebanon.

Cyprus could use its reserves of gas to meet up to 40% of Europe's additional gas needs over the next decade, helping to curb the E.U.'s reliance on Russia.

As Lebanese minister says refugees "disastrous" for country, economists say influx has economic benefits.

They participated in a pre-qualification process to win licenses for oil and gas work off the Lebanese coast.

A tender to run two mobile operators is expected in mid-April as the the country intends to become a digital hub for the region.

The bus was headed to Beirut when it flipped over.

Budget deficit jumped 67% in 2012 to $3.93 billion, its first primary deficit since 2006.