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Lebanon Opportunities

Lebanon Opportunities Oct-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
the naggers

Only a few people in our nation have been spared the tendency to instinctively nag about anything and everything that goes on in the country. The naggers describe the country as a failed state, and at the same time refuse to take any responsibility for it. CITIZENS For many years, members of Parliament were shamed by the public for self-renewing their mandate. They were branded all sorts of evil labels, the most cited of which is that they are all thieves. Then, they were re-elected! There are some bad apples in the cart – as there are in every cart – but most deputies are honest and, yes, hard working people. Even if they want to ‘steal’ or be corrupt in some manner, they don’t have access to public funds, and they…

2 min
bits & bytes

SOUND BYTES The economy is not going bankrupt and the lira will not crumble President Michel Aoun What happened in the issue of housing is a social crime Parliament Speaker Nabih Berri We are not in a pitiful state. We have all the fundamentals for economic growth. There is a campaign against the lira and the economy that wants to frustrate citizens Prime Minister Saad Hariri All the data indicate to the safety of the monetary and financial situation. We need political action to avoid economic collapse Ali Hassan Khalil, Minister of Finance The status of the lira is stable Ibrahim Kanaan, Chairman of the Budget Parliamentary Committee In the past, they spread rumors of my owning a submarine, a plane, and perhaps a satellite Gibran Bassil, Minister of Foreign Affairs It is not permissible to keep milking the cow in public administration…

6 min
in good company

Provided by BUISNESSNEWS.COM.lb by LEBANON OPPERTUNITIES INTRA IS LAUNCHING GOLF COURSE IN ROUMIEH Intra Investment, a company owned by the Central Bank and other shareholders, is planning to develop an 18-hole golf course on a 600,000 square meter plot in Roumieh, Mayor Adel Abi Habib said. Intra Investment will fund the project, at an estimated cost of $200 million. “The preliminary studies of the project are complete and we are waiting for the company to set a date to launch the tender,” he said. “We will convene with the Governor of the Central Bank to decide on a date,” he said. Architecture firm Khatib & Alami conducted the studies. The project will include a five star hotel, six villas for rent, as well as sports fields. A part of the repartitioned plots, which are…

4 min
money & banking

Provided by BUISNESSNEWS.COM.lb by LEBANON OPPERTUNITIES CENTRAL BANK FINES BANKS FOR HOUSING LOAN VIOLATIONS The Central Bank has slapped $4.6 million in fines on banks that did not comply with regulations for granting subsidized housing loans, a statement by the Central Bank said. “As a result of the ongoing inspection by the Banking Control Commission and Central Bank regarding the housing loan portfolio of a number of banks since 2011 to date, we discovered that some clients and banks did not comply with the right implementation of the articles and provisions of circulars issued by the Central Bank that govern the mechanism of benefiting from housing loans and the objectives granted for them,” the statement said. There were 389 violations, 48 of which are related to housing loans subsidized by the Central Bank, which…

4 min
official business

Provided by BUISNESSNEWS.COM.lb by LEBANON OPPERTUNITIES NEW ONLINE TAX CALCULATOR FOR INDIVIDUAL TAXPAYERS The Ministry of Finance (MoF) said it has developed an online tax calculator to help individual taxpayers calculate the tax on the income they generate from their participation in partnerships or professions that are subject to income tax. The MoF said that the application, which is on its website, aims to facilitate tax payment and collection. The taxable income could be based on deemed profits, lump-sum profits, or real profits. Taxpayers currently fill paperwork, said Auditor Elie Saliba. Tax declarations are also submitted through audit offices, which use licensed software programs for this purpose, Saliba said. He said that the new app will facilitate and speed up the tax payment procedures. L1018-21 LUMP SUM TAX POSTPONED AGAIN The lump sum tax on businesses and…

1 min
matters of fact

Provided by BUISNESSNEWS.COM.lb by LEBANON OPPERTUNITIES HUMAN DEVELOPMENT UP AND GENDER GAP DOWN UNDP’s recently published Human Development Index (HDI) shows improvement in economic and social quality of life. This is attributed to an increase in life expectancy at birth, mean years and expected years of schooling; and the increase of gross national income per capita. “This is the result of the improvement of health care and education systems taking the differences between cities and rural areas into account,” said Rania Al Jazairi, the First Social Affairs Officer at the Social Justice section at ESCWA. HDI has increased by 3.4 percent since 2005, placing Lebanon in the high human development category – which is above average – according to the UNDP statistical update. The gender gap in human achievements in health, knowledge, and living…