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Lebanon OpportunitiesLebanon Opportunities

Lebanon Opportunities

April 2019

Lebanon Opportunities is a monthly business magazine that covers: Finance, Real estate, Economy, and Local business. Lebanon Opportunities has tens of thousands of readers in Lebanon and across the globe. It is the prime local business magazine in Lebanon in terms of readership, advertising, and name-awareness. Lebanon Opportunities is written to a target of small business owners, entrepreneurs and middle management, as well as to Lebanese living abroad. It aims at bringing complex business issues in a simple manner understandable by readers who are not experts and whose English language is not the mother tongue.

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lebanon opportunities

Publisher & editor-in-chiefRamzi El HafezManaging editorSleiman AudiResponsible managerIman ChamasEditorial teamAntoine Abou-DiwanYassmine AliehRania GhanemGisele KhalafShikrallah NakhoulPrintingPhotogravure Vartan sarlRespecting the environmentPaper. Since 2006, Lebanon Opportunities has been printed on Terrapint paper sourced from Kable. Its factory is approved by the Forest Stewardship Council (FSC). Its paper is made from wood from sustainably managed forests certified by ISO 14001, PEFC, and ESC. Five trees are planted for each one cut.Bags. Lebanon Opportunities is distributed in Reverte bags, which ensures that they are oxo-biodegradable.Recognition. InfoPro, the publisher of Lebanon Opportunities, has been recognized by the Ministry of Environment for its contribution to a cleaner environment.DistributionThe Lebanese Company forthe Distribution of PeriodicalsPhone: (961-1) 368.007, (961-1) 366.684Fax:(961-1) 366.683E-mail: colidi@inco.com.lbDedicated to Leila OsseiranLEBANON OPPORTUNITIES ®Published monthlyInfoPro SALHamra Street – Piccadilly Center – 2nd floorP.O. Box 11-4355 Beirut,…

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the combat of corruption is corrupt

The honeymoon is over for the government – even before the completion of its first 100 days. It took just a handful of Cabinet meetings for the traditional feuds to reignite, with bickering about the electricity plan, appointments to public sector positions, and a variety of less important decisions. The pledge of reform and to combat corruption has turned into an ugly display of political retribution.THE SOUND OF SILENCEThe well-cemented March 8 coalition has ganged up on former Prime Minister Fuad Siniora, singing the $11 billion tune. The opposite side, in disarray, stood there bewildered, offering whimpers of support, and nothing more. The statesman stood alone, defending a record of decisions that all political parties voted in favor of during his tenure. There were no attempts to uncover the true…

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SOUND BYTESBe proud of your country, a bright future is ahead of youFormer French President François HollandeThe government is determined to implement the economic recovery plan and to convert into a productive economyPresident Michel AounThe King of Jordan told me that his country is ready to supply us with electricityParliament Speaker Nabih BerriThe government will have a plan for electricity in three monthsPrime Minister Saad HaririWithout electricity there will be no development, investment, and progressPierre Duquesne, French Ambassador to the Mediterranean, coordinator of CEDREMuch of the discussion in the past around public accounts was not based on actual or accurate factsAli Hassan Khalil, Minister of FinanceWe know where every penny of the $11 billion was spent Alain Bifani, Director General of FinanceI took revenge for the industrialistsWael Abou Faour, Minister…

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in good company

INDUSTRY DECLARES STATE OF EMERGENCYThe Association of Lebanese Industrialists (ALI) announced an ‘industrial emergency’ on Wednesday, calling on the government to save the country’s industry, jobs, and economy. “Tens of manufacturers are close to shutting down their factories due to dumping, smuggling, and unlicensed factories,” said Fadi Gemayel, Chairman of ALI. The association gave the government 100 days to take measures to save the industrial sector. ALI requested a comprehensive vision and strategy for reviving the sector and economy. They demanded the closure of all illegal factories, implementation of trade agreements based on reciprocity, implementation of laws on the books, a review of industrial costs, injection of liquidity in the market, and a reduction of borrowing costs. Wael Abou Faour, Minister of Industry, joined voices with the industrialists. “I meet…

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money & banking

ARAB FUND TO LEND $165 MILLION TO HOUSING BANKBanque de l’Habitat (The Housing Bank) has secured a 30-year soft loan of KD50 million ($165 million) from the Arab Fund for Economic and Social Development, said Joseph Sassine, Chairman of The Housing Bank. A preliminary agreement has been signed between the Arab Fund and the Council for Development and Reconstruction (CDR) for this purpose. The Cabinet is expected to issue the related decree in its next session. The Housing Bank will pay an interest rate of 2.5 percent on the loan while it will charge borrowers the 5.5 percent set up by the Central Bank (BDL) for housing loans provided in 2019. The new funds will enf able the bank to provide more than 1,000 loans, Sassine said. “We will request…

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official business

Public procurements for manufactured goods are still very shyGOVERNMENT REITERATES LOCAL GOODS PREFERENTIAL TREATMENT IN BIDSThe Prime Minister’s Office issued a circular asking all public institutions and Union of Municipalities to give ‘Made in Lebanon’ goods a preference when setting the terms of reference for tenders and public procurement. Manufactured products should be given preferential treatment even if they are up to ten percent more expensive than imported goods. The decision is based on a circular issued in 1997, calling for involving national industries in tenders whenever these industries meet the technical conditions that are required in the terms of reference. “Public institutions are still not abiding to the rules and decrees issued when setting the terms of references for tenders,” the Prime Minister’s Office said in a statement. “Public…