Innholdsfortegnelse for Mar 1 2015 i Lebanon Opportunities

by the editor-in-chief For six years, during the reign of the former President, we had an earful of how hollow the powers of the presidency are, that its prerogatives have been reduced to being just a ceremonial position, and that it has no bearing on how decisions are made in government. Now that there is no President, we hear quite the opposite. A State without a head is one that is practically decapitated, the imbalance created by the void at the top is untenable, and that before electing a new leader, nothing can, or should, be achieved. Flip-flopping is surely politics’ daily bread, and this case is no exception. In the meantime, we have a stagnated Cabinet and Parliament. Not that it was more productive when we actually had a…

BDL: BANK CLIENTS TO GET BETTER DISCLOSURE The Central Bank (BDL) has issued a circular instructing banks and financial institutions to provide customers with full and accurate information about the terms, benefits and risks of their products and services. The circular said that banks and financial institutions should clarify the rights of customers by publishing programs of awareness and information at the banks and financial institutions’ headquarters, at all branches, in all websites and any other means of communication with clients. Banks and financial institutions have to make a list of the rights and obligations of clients. The clients’ rights include, for instance, knowing about the terms and details of the product and or service, having a clear and simple explanation about different risks related to financial products and services,…

ALAIN GOANVEC, CHIEF EXECUTIVE OFFICER OF KHOURY HOME Alain Goanvec is the new CEO of Khoury Home. With a vast experience in retail, and mission to bring growth, he said: “I will be mixing leadership, experience, technical breadth, and passion for customer care.” He was the Executive Regional Director, Levant for Majid Al Futtaim (MAF) in charge of retail at Carrefour. He worked previously at Carrefour in France, Greece, and Cyprus as Managing Director and as the CEO for Saudi Arabia and Bahrain for MAF. He has a DESS (Finance) from ESC Saint Etienne Business School and the INSEAD Carrefour Master. DINA RASSOUL joined Sawaya Holding as Communication Manager. She was previously Senior Media and Communications Executive/Copywriter at Fawaz Holding. Rassoul graduated from the AUST with a diploma in English…

28 years Elie Abou Jamra Co-Founder & CEO, KASHIDA 26 years Mirna Hamady Co-Founder & Creative Director, KASHIDA In the vision of Mirna Hamady and Elie Abou Jamra, it was never the end for Arabic calligraphy. These graphic designers have retrieved the legacy of the language, when their generation is moving towards Western culture. They founded, Kashida, in 2011 which creates furniture and home accessories based on 3D Arabic typography. The term ‘kashida’ is the glyph that bridges two Arabic letters in a single word. “And this is what we wanted to become,” said Abou Jamra, “a link.” He handles the business planning, while she takes care of the artistic side. They sell readymade products through their online portal and provide customized projects. They are planning to launch a boutique…

Development projects based on partnerships between landowners and developers are increasing. A typical agreement pools the land’s fixed assets with available liquidity, construction and marketing knowhow. TWO IN ONE Successful property development partnerships require two components: Money and the skill to put it to good use. The first party is a passive owner of a real estate asset or a financier. The second party is an active developer. The two sides formalize an agreement that determines the split of rights and obligations. This includes advancing assets and funds, project and cash management and the role of each party in procurement, marketing and sales. The agreement also determines how profits are split. Aboudi Farkouh, General Manager of CGI, the Saradar Group’s development firm, said: “We go into partnership agreements because it…

BITS & BYTES SOUND BYTES There is web of corruption in Customs that is difficult to dismantle Ali Hassan Khalil, Minister of Finance Sooner or later, we will reach the abyss Rachid Derbasse, Minister of Social Affairs I am not covered by Social Security, neither are its own board members Sejaan Kazzi, Minister of Labor I accuse everyone of monopolizing fuel oil, until proven otherwise Alain Hakim, Minister of Economy and Trade Solidere had promised us rivers underneath the gardens of Eden. It delivered high-rises but the underlying antiquities had been stolen Walid Jumblat, Socialist MP Hezbollah has transformed Lebanon from a country which took pride in its tourism and banking sectors, to one whose citizens celebrate dignity in its resistance Nawaf Musawi, Hezbollah MP The minister of education needs…

$100 MILLION LOAN FOR LITANI’S CANAL 800 A $100 million loan agreement was signed between the Council for Development and Reconstruction (CDR) and the Kuwaiti Fund for Arab Economic Development (KFAED). The loan will be used to finance the development of Canal 800. The Litani River Authority launched works on the first phase of Canal 800 last year. The project would convey around 120 million cubic meters of water to irrigate 1,500 hectares of agricultural land below 800 meters of elevation. The project covers 98 villages in Nabatieh, the Marjayoun plain and South Litani to the southern borders. The agreement still needs the Cabinet’s approval. The overall cost of the project is estimated at $360 million. The first phase will be completed within two years. Canal 800 is co-financed by…

Name High Street Sal Capital (Shares) LL30,000,000 Directors Edgard Elias Kiame (Chairman) (250), Khalil Habib Fallaha (Vice-Chairman) (500), Dani Elias Kiame (250) Reg. address Lot No.1455/10 and 20 Marfaa, Beirut Object General trade, industry, import, export, commerce of clothes, shoes, bags, and commercial representation Bank Byblos Bank Solicitor Me Georges Jean Azar Auditor Fadi Michel Mourad Name Live Up Sal Capital (Shares) LL30,000,000 Directors Philippe Lucien Joseph Letayf (Chairman) (1,650), Lucien Lucien Joseph Letayf (900), Salim Gabriel Bocti (450) Reg. address Philippe Letayf Property, Lot No. 5250 Achrafieh, Beirut Object General trade, import, export, commerce of food products, beverages, ice cream, pasta, management of restaurants, catering services, and franchising Bank BLC Bank Solicitor Me Nicolas Clovis Comati Auditor Semaan, Gholam and Co. Name Wada Sal Capital (Shares) LL30,000,000 Directors Walid…

The danger of terrorism is no longer a ghost. It has become a reality, with fallouts being witnessed internally and along the borders on a daily basis. The sectarian leaders, on February 14 and 16 were in agreement when they highlighted the risks that terrorism is bringing to the country. They are on the right course, as threats on our borders may increase whenever international and regional forces, from the United Stated to Iraq and Jordan, achieve advances over terrorist groups as their flow to our eastern borders increases. Combating terrorism has become a global issue taking place at all levels. It is a strategic error to restrict it to the military arena, no matter how important it is. It is just as important to confront it on social media…

TRIPOLI’S POVERTY RATE AT 57 PERCENT Tripoli is suffering from high poverty rates, according to a study, claiming 57 percent of the population is at or below the poverty line. The study, carried out by the Ministry of Social Affairs, in cooperation with the Economic and Social Commission for Western Asia (ESCWA) and the United Nations Development Programme (UNDP) noted a deterioration of the city’s potential growth, economy, society, culture and architecture. “The city has been facing big problems recently and it needs a big development workshop,” according to a statement by the Ministry of Social Affairs. The report said that 26 percent of Tripoli’s citizens are highly poor, while 77 percent are facing economic difficulties, 35 percent are suffering from health problems, and 25 percent are not receiving an…

BEIRUT STOCK EXCHANGE LEBANESE INTERNATIONAL BOND ISSUES OVER THE COUNTER BDL DEPOSIT RATES (LL) MONEY MARKET RATES INTEREST RATES (LIBOR) AVERAGE LL/USD Figures as of Feb 25, 2015 MENA Invest shall not be responsible for any loss arising from any investment based on any information herein contained Regulated by Banque du Liban - List of Financial Institutions No. 64 Saifi, Charles El Helou Avenue, Harbour Tower, 9th Floor, Beirut, Lebanon, P.O. Box: 11-4405 Tel: +961 1 577.773 - Fax: +961 1 573.444 - www.menainvest.com.lb MARKET MIRROR Equities are up Trading volume on the Beirut Stock Exchange (BSE) bounced back since the beginning of February, fueled mainly by a block trade involving 18.7 million Bank Audi shares. There was also a listing of three million preferred shares worth $75 million and…

A599 Area Ashrafieh, intersection of Ashrafieh & Furn El Hayek Sts., opposite ABC department store Architect YTAA: Youssef Tohme Architects & Associates Developer Al-Mawarid Real Estate Contractor Not Appointed Yet Delivery Sept. 2017 Apt. Sizes 184 m² - 235 m² - 360 m² 420 m² - 580 m² Price/m² Starting at $5,500 Phone (70) 980.100 Fleifel Project 393 Area Mousseitbeh - Zarif, Malla St., close to former Prime Minister El-Hoss residence Architect Badiaa Jammoul Developer Mohammad & Yasser Fleifel Contractor Mohammad & Yasser Fleifel Delivery June 2017 Apt. Size 120 m² Price/m² Starting at $3,250 Phone (71) 179.161 (03) 504.463 Abraj Al-Madina 1303 Area Bashoura, intersection of Kadi & Aris Sts., close to La Martine school Architect Rikawa & Partners Developer Dagher Group Contractor Dagher Group Delivery June 2016 Apt.…