Innholdsfortegnelse for May 2017 i Lebanon Opportunities

BANK AUDI SELLS CARDS UNIT TO M1 GROUP Bank Audi has sold its electronic payment and card services business to M1 Financial Technologies, a subsidiary of M1 Group. M1 will operate the business via Areeba SAL. The value of the deal is $185 million, but is subject to adjustment of up to $35 million. The deal includes acquiring the team, equipment, machines, and all points of sales. The completion of the deal is waiting for the final approval from the Central Bank, as well as the relevant service providers, including MasterCard and Visa. Bank Audi will continue to deal directly with customers. Marc Audi, a Bank Audi Board Member, said: “Bank Audi has a 40 percent market leading share in the card market.” He said that the transaction will enhance…

It takes more than just unbuttoning a collar to keep cool. Suit cuts, colors, and fabrics all play their part in retaining an expected formal look at work while not overheating the wearer in the office or when venturing outside to important business meetings. KEEPING IT LIGHT Light blue and beige are popular in men’s designer spring and summer collections. Stone-colored blazers are also being paired with stark white jeans. Pastels that were big on the catwalks shows in Paris and Milan have failed to materialize locally. Ghina Fadel, designer at Pellini, said: “Although there are plenty of millennials entering the labor market, most of them stick to conventional colors with minor variations. Grey, black, and rich inky shades of blue, such as gitanes, are a mainstay in the market.…

CAMPAIGN TO LURE TOURISTS IS LAUNCHED Representatives from 150 travel and tourism companies visiting the country will be introduced to local hospitality players. The visitors will participate in a forum held on May 24, where 50 local travel and tourism companies will introduce their services, and have face-to-face business meetings. Wadih Kanaan, General Secretary of the Syndicate of Hotel Owners, said: “More than 800 international companies submitted applications to participate in the forum.” He said that companies are showing interest in participating in this forum, and that this number is expected to increase in the coming days. A committee formed by the Ministry of Tourism, including representatives from the private sector, the Syndicate of Hotel Owners, and Casino du Liban will choose the international companies that will participate in the…

The Brussels Conference on Supporting the Future of Syria and the Region agreed on a holistic approach to handling the Syrian crisis, including financial assistance of $6 billion for 2017 alone. It also agreed to respond to the humanitarian situation and a long-term vision to support a peaceful and stable future for Syria and the wider region, European Union (EU) High Representative Federica Mogherini said. The share for Lebanon has not been earmarked. It amounted to 16 percent in previous years. CRISIS HAD A SHARP NEGATIVE IMPACT ON GDP Delegations representing more than 70 countries and international organizations participated in the conference. The EU also committed to maintain similar levels of support in the future, amounting to €560 million ($600 million) for 2018 for Lebanon, Jordan, and for h Mogherini…

The barriers facing the renewable energy (RE) and energy efficiency (EE) sectors are gradually being torn down. Some still remain. But businesses and institutions realize that implementing green energy practices reduces costs and increases sustainable power. Business activity is multiplying: Low-carbon housing has appeared on the market, geothermal power is being generated, and green-solution businesses have expanded their offering. This has been aided by banks, supported by the Central Bank (BDL) and international financial organizations, offering ‘green’ loans and additional products to those dedicated to the green cause. AN EVER-EXPANDING MARKET A decade ago there were less than ten companies offering RE solutions. Even then, these services were seen as a side product, according to Edgard Chehab, Assistant Resident Representative at the UN Development Programme (UNDP). Today, the number of…

According to land area Medyar Damour Developer: Medyar Ahlam Golf & Mountain Village Kfardebian | Developer: FFA Real Estate BeitMisk Atchaneh-Sakiet el Misk | BUA of units under construction: 2,550 m² Number of under construction apartments: 112 | Developer: Emaar Ajaltoun Valley BUA of units under construction: 13,932 m² Number of units under construction: 11 | Developer: Matta Real Estate RedRock Kfardebian | BUA: 2,100 m² | Number of units: 204 Developer: Demco Properties BUA and number of units in Medyar and Ahlam Golf & Mountain Village are not determined because both projects will sell land plots that will later be built by their owners Smart Valley Fatka | BUA: 310,000 m² Number of units: 900+ Developer: Sakr Real Estate Kÿe Tabarja | BUA: 110,000 m² | Number of units:…

$2 BILLION AVAILABLE FROM CHINA SILK ROAD The Silk Road Chamber for International Commerce (SRCIC) is ready to grant $2 billion in low-interest-rate loans to the local market, according to Adnan Kassar, Chairman of the Economic Bodies and the founding father of Lebanese- Chinese relations. “Tapping these funds is strictly tied with the government’s ability to put forth economic projects with benefit to the road,” Kassar, who is also the honorary Chairman of the SRCIC, said. The allocation is part of a $5 billion Silk Road International Development Fund that aims to finance deals introduced by SRCIC members. Kassar said that the hands of the private sector are tied without the support of the government. “Local officials have to express their willingness to cooperate with China in order for the…

1.2 BILLION INVESTED IN HOSPITALITY LAST YEAR The direct contribution of travel and tourism to GDP in 2016 was seven percent, at $3.3 billion, according to the World Travel and Tourism Council (WTTC). The contribution reflects the economic activity generated by subsectors such as hotels, travel agents, airlines and other passenger transportation. The sector’s turnover decreased eight percent compared to 2015. Pierre Achkar, Chairman of the Syndicate of Hotels Owners, said: “Touristic institutions launched several offers and reduced their prices early last year to attract low-budget tourists. There was a response to these offers and occupancy rates increased, but revenues decreased.” Jean Abboud, Chairman of the Association of Travel and Tourism Agencies, said that Syrians who were leaving via Beirut airport represented between 2011 and 2015 around 35 percent of…

A major obstacle to job creation stems from a gap in available skills, according to the recently published report: ‘Mind the Gap’, by the United Nations Development Program (UNDP). It said that the economy needs to generate six times the jobs that are currently being created in order to absorb regular market entrants. It also highlighted youth employment as a particular problem. UNDP commissioned a survey aimed at 240 companies, a sample representing three sectors: Food manufacturing, residential construction, and ICT. These sectors, chosen because they have traditionally served as drivers of growth, also employ large number of non-nationals. MARKET GAPS Companies often complain that they are unable to find the required skilled labor. Among those already employed, 41 percent believe that their education is irrelevant to their current position.…

They come in differing shapes, sizes, and locations. But generally there are two defining factors that tie all gated communities together: Security and good infrastructure. The Metn region has the most gated communities that still have apartments for sale. This number gradually diminishes the closer the area is to Beirut. In the last few years, property sales in gated communities have fared better than their non-gated counterparts. This is due in the main to the array of amenities on offer. Expats form a large part of clients, many of whom can afford the increasing prices of such property. But if developers are to increase sale growth, prices should also be kept affordable. LARGER THAN AVERAGE BeitMisk, Medyar, Waterfront City Dbayeh, and Smart Valley are so large that they are described…

The interior space in luxury sedans has grown. Engine sizes are now varied, and the engineering, design, and technology components have been finetuned. It can take up to 138 hours to build a luxury sedan, compared to a mere 18 hours for a non-luxury one. From the handstitching craftsmanship to state-of-the-art infotainment systems as a standard feature, the luxury sedan knows how to speak to its market segment. MORE INDULGENT The modern interiors of the Bentley Flying Spur are handcrafted to contemporary standards. The leather is hand-stitched, and the wood veneer is highly polished. The Maserati Quattroporte, a large luxury sedan, has three trim options: The S, the S Q4, and the GTS. The GranLusso or GranSport packages are available in the S and S Q4 trim options. “The GranLusso…

Eventions Furn el Shebbak Tel: (01) 280.085 info@eventionslb.com www.vinifestlebanon.com IFP Hazmieh, Jeser el Basha Tel: (05) 959.111, Fax: (05) 959.888 info@ifpexpo.com www.ifpexpo.com MICE Lebanon Sami El Solh, Badaro Tel: (01) 976.902, Fax: (01) 976.798 info@micelebanon.com www.micelebanon.com Promoteam Mar Mitr, Ashrafieh Tel: (01) 339.050, Fax: (01) 339.060 sm@promoteam-ltd.com www.promoteam-ltd.com Promofair Accaoui Street, Ashrafieh Tel: (01) 561.600, Fax: (01) 561.605 info@promofair.com.lb www.promofair.com.lb Gata Events & Promotions Badaro Street Mobile: (03) 207.380 Tel: (01) 322.177 info@gata.pro, www.gata.pro Beirut Art Fair Beirut, Salim Slam St. Tel: (01) 201.974 info@beirut-art-fair.com www.beirut-art-fair.com EDUCITY SB Bldg., Hadath Mobile: (70) 869.196 farhat@Edu-City.net www.Edu-City.net Check our website for full listings…