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Lebanon Opportunities

Lebanon Opportunities Nov-18

Lebanon Opportunities is a quarterly 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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3 min
about success

A mid the incessant complaining and defeatism that has overtaken the business community and people at large, it is essential to revisit the definition of success. Anything short of a perfect world has become synonymous with an apocalypse. The country’s morale is at rock bottom, and needs a prescription of Prozac or something much stronger. A miracle solution is not available, and Godot has not booked his seat yet. Perhaps a bit of therapy is in order? CRY BABIES Here are the top 30 complaints voiced by people, politicians, chambers of commerce, and the media: Electricity. Water. Garbage. Waste water. Traffic. Parking. Pollution. Corruption. Deficits. Debt. Challenging business conditions. Taxes. Fees. Inflation. Syrian refugees. Politics. Confessional politics. Politicians. This or that particular official. Nepotism. Weak legal system. Unemployment. Tourism from the Gulf. Real…

1 min
bits & bytes

SOUND BYTES It is shameful what is going on at the airport President Michel Aoun The economic situation is very difficult but there is no problem with the lira Prime Minister Saad Hariri The economic situation cannot afford to wait for the proceeds from oil and gas Ghassan Hasbani, Deputy Prime Minister The battle is not one of generator meters, it is one for the prestige of the State Raed Khoury, Minister of Economy and Trade The problem is not the storms, but the way the State prepares for them Pierre BouAssi, Minister of Social Affairs It is like driving on a highway and missing the exits. Before it is too late, we must avoid hitting the dead-end Yassine Jaber, MP and Chairman of the Foreign Affairs Committee Rumors about a financial collapse are incorrect Ibrahim Kanaan, MP and Chairman of the Budget Committee Either…

10 min
in good company

Provided by BUSINESSNEWS.COM.lb by LEBANON OPPORTUNITES MÖVENPICK HOTEL SOLD TO LOCAL AND SAUDI INVESTORS Saudi-based Kingdom Holding Company (KHC), a publicly listed company directed by Prince Alwaleed Bin Talal, has sold 95 percent of the 5-star Mövenpick Hotel Beirut property in Raouche. The hotel has been sold for more than $125 million. The property was bought by two companies: Universal Pan and Pine. The companies’ shareholders are Lebanese and Saudi. Ali Dayekh is one of the shareholders. He had purchased the Four Seasons hotel earlier this year, also from Kingdom Holding for around $100-$115 million. The property will contain operating under the same management. Mövenpick Hotel includes 292 rooms and suites. L1118-01 MEDICAL INNOVATION FOR DIABETES BY BENTA Benta Pharma Industries (BPI), a local manufacturer of pharmaceuticals, has achieved promising results of an innovation it’s working…

7 min
money & banking

Provided by BUSINESSNEWS.COM.lb by LEBANON OPPORTUNITES $325 MILLION SOUGHT TO BUY UNSOLD PROPERTIES Developer Namir Cortas and property broker and consultant Massaad Fares have launched the first fundraising round for an investment scheme, or ‘platform’, dedicated to buying unsold high-end properties in Beirut and its immediate surroundings. The goal is to raise $325 million by promoting apartments ranging in price between $500,000 and $2 million, through Legacy Central, a company chaired by Fares and Cortas that will act as the investment manager. “Legacy Central is a sales company with enough technical expertise, and it can reach the diaspora, who will buy the apartments,” said Wael El Zein, Chairman of Lucid Investment Bank. Lucid Investment Bank, financial administrator and leading placement agent, recently received the Capital Markets Authority’s approval to market ‘priority’ shares valued…

5 min
official business

Provided by BUSINESSNEWS.COM.lb by LEBANON OPPORTUNITES INSTALLATION OF METERS ON GENERATORS BEGINS A government order to install energy meters on private power generators and regulate the price of privately-generated electricity has gone into effect more than a year after it was issued. The decision, which was jointly issued by the Ministries of Economy and Trade (MoET) and Energy and Water (MoEW) in mid-2017, was roundly opposed by energy generator owners, who threatened to shut down their generators, leaving their customers in the dark, if they were forced to install meters, which measure the amount of electricity consumed. The two parties have since been through several rounds of negotiations to set a price per kilowatt hour. “The decision will be implemented no matter what,” said the Ministry of Economy and Trade (MoET). “We believe…

7 min
matters of fact

Provided by BUSINESSNEWS.COM.lb by LEBANON OPPORTUNITES SOLAR ENERGY PRICES DROPPED SEVEN TIMES IN SEVEN YEARS A total of $18 million were invested in solar PV projects last year, according to the 2017 Solar Photovoltaic (PV) Status Report for Lebanon, recently released by UNDP. By the end of 2017, the PV sector was worth more than $76 million and had reduced 84,000 tons of greenhouse gas emissions per year. The number of solar PV projects has increased significantly since the launch of the National Energy Efficiency and Renewable Energy Action (NEEREA) funding program in 2010, when there were only 25 PV projects in the pipeline. There were 352 solar PV projects by the end of 2017. The sector has 61 companies and employs at least 670 people. The installed solar PV capacity, which equaled…