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Lebanon Opportunities

Lebanon Opportunities

Quarter 3 /2020
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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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4 Issues

in this issue

2 min.
i will survive

Our country is inhabited by conflicting souls. One is that of its citizens. Another is that of its leadership. Then there is the dark matter overpowering the two. Looking back, we find, on the one hand, people rushing to uplift the nation, and on the other, governance in disarray being maneuvered by the great manipulator. Fossils amid world transformation There are no apparent ways out in the foreseeable future, especially in the absence of foresight. The region and the world at large are undergoing rapid transformations. In comparison, local power mongers have become fossilized. Unable to cede even a little, unimaginative in their approaches and having lost much of their popular legitimacy, each political group is either clinging to the puppeteer, or abandoning temporarily its quest for power. Nothing good is to…

2 min.
in brief tidbits

Soundbytes There will be no blank checks. Reforms and concrete action are indispensable French President Emmanuel Macron Everyone knows what reforms need to be done – except the politicians Jean-Yves Le Drian, French Minister of Foreign Affairs We encourage moving into a more targeted subsidy system to reach those who are the most affected and also allow a better utilization of foreign currencies Jihad Azour, IMF Middle East and Central Asia Department Director We are a failed State Raoul Nehme, Minister of Economy and Trade Some insurance companies have tried to engage in deceit and thievery in payment obligations related to the Port Explosion Mohamed Choucair, Chairman of the Economic Associations How is the poor going to be defined when the entire population has become poor? Bechara Asmar, Secretary General of the General Confederation of Labor Unions Our GDP would have exceeded $100…

5 min.
what’s new leadersclub

The NET opens automated logistics center for e-commerce The NET Group, a logistics and freight solutions provider, has recently opened an automated logistics center designed for e-commerce. The center, located in Karantina, provides faster pick and pack as well as delivery services to e-commerce clients with realtime tracking and communication, according to Mourad Aoun, CEO at The NET Group. “The investment came in response to the increasing demand for e-commerce, and it is the first automated fulfillment center in the Levant,” he said. Investment in the project totaled $6 million. The cost of equipment including conveyor belts, software, and management systems reached $1.5 million. The NET Group started operating the 2,000-squaremeter center earlier this year. The center has the capacity to fulfil up to 6,000 domestic and international orders per day.…

7 min.

ESA launches computer coding school ESA Business School has launched a computer coding school ‘ESA Coding Lab’ that will open next January. “We have teamed up with ITESCIA, a French information technology school which operates a ‘Coding Factory’, in order to benefit from their expertise on how to develop and manage a coding school,” said Maxence Duault General Director of ESA Business School. It will be a tailoredmade short program of three months, the students get a certificate recognized by ESA, and an official certificate recognized by ITESCIA and consequently by France. There will be a general certificate and another for mobile applications. The program mainly targets young people holding Bachelor of Computer Science degrees or similar degrees. The courses will be given for free then the graduates will pay back…

4 min.
official business

Alvarez & Marsal forensic auditor of Central Bank Alvarez & Marsal (A&M) is performing forensic audit of the Central Bank (BDL) under a contract with the Ministry of Finance. KPMG and Oliver Wyman are carrying out the financial audit. A&M is a global consultancy that provides restructuring and turnaround services and performance improvement consultancy. It operates 64 offices in 24 countries. The government had previously approved the hiring of New York-based Kroll to carry out the forensic audit but backed off after the consultancy’s name was withdrawn by the Minister of Finance on the backdrop of its connection to Israel. KPMG is a worldwide network of firms providing audit and advisory services. Oliver Wyman is a US-based financial consultancy present in 60 cities across 31 countries. ▶ L0320-11 Ministry of Finance paid all…

7 min.

Banque BEMO sets $100 million for reconstruction Banque BEMO has allocated $100 million to provide fasttrack loans to people hurt by the ports explosion and who want to rebuild their houses, offices, or restore their equipment. Cars and home appliances are among the items that maybe considered as ‘equipment’. The loans will be provided with minimal collateral and administrative paperwork. The program targets both clients and non-clients. Fares Sawaya, Executive Director for Financial Institutions at the bank, said that they will charge an interest rate that will range between two and three percent. The loan ceiling is set at $25,000 in order to reach a large number of borrowers, Sawaya said. He said that this loan program is suitable for people who don’t want to wait for the indemnities that will…