“BTA-Fransabank Retail Index”

Despite a twitch at the end of the year,

Markets did not witness any noticeable switch in their activities.

For the third quarter of 2014 (Q3-2014)

Beirut, November 24, 2014

- Markets are lacking the basic constituents that would allow for an even modest recovery -

- From Hope to Disappointment –

The new government of Tamam Salam sent positive signals to the markets during the first part of the 2^nd quarter of 2014.

However, this positivism was short lived, and recession resurged as the master of the game.