Innholdsfortegnelse for Feb-18 i Lebanon Opportunities

CENTRAL BANK TO SUBSIDIZE LOANS WORTH $1 BILLION The Central Bank (BDL) has a new stimulus package for 2018. Interest rates on housing loans and loans provided to the productive sectors will be subsidized, according to Wael Hamdan, Head of BDL’s Financing Unit. The new package differs from the previous stimulus program. The banks will provide the loans from their own liquidity. BDL will offer the interest subsidies. The aggregate value of loans subsidized is capped at $1 billion. There will be additional modifications to the new package but they are not major changes, Hamdan said. Interest rates will be raised slightly. The Public Corporation for Housing (PCH) will get the lion’s share of this support, according to Hamdan. Banque de l’Habitat (The Housing Bank) will also continue to benefit…

Connecting to the Internet is an unavoidable necessity, but also a source of cybercrime risks. Companies have no option but to accept the threat and take the required protective measures. Tony Feghali, Managing Partner at POTECH Consulting, which provides cyber security solutions, said: “Businesses cannot avoid accessing the Cloud, using Internet of Things (IoT), or giving employees wireless Internet connection. They have to adopt all these new technologies.” But people are often not conscious of how exposed they are to cyber risks, until they are victims of them. Awareness is crucial to persuade business leaders to shield their companies from these hazards. Hackers attack Information Technology (IT) systems through diverse means, such as emails, social media, and smartphones. Cybercriminals can also attack non-IT devices and items connected to the Internet.…

Brands have a hard time catching up with technology to enhance marketing strategy. That’s because the ‘latest technology’ keeps changing at a fast pace. One of the newest methods involves using Augmented Reality (AR) and Virtual Reality (VR). As its name indicates, AR ‘augments’ and enhances the user’s experience of the real world. For example, an AR app on a smartphone allows shoppers looking at a certain product through their smartphone camera to see additional information about the product on their screen. Technicians looking at a machine through their smartphone can see the specifications or the steps they should follow to fix the machine. AR, in short, adds contextual data while a user is observing a real product. This additional data is obtained through smartphones, tablets, Head-Mounted Displays (HMDs), and…

The newest models of sedans exhibit refreshing exterior and interior designs and innovative technologies anticipated to empower an energetic but safer driving experience. The new models feature comprehensive updates ranging from connectivity, to smart gadgets, and comfort requirements. Such features are becoming a necessity beyond the usual improvements in terms of power and environmentally friendly features. Dealers are shifting the minimum standards for different sedan categories upwards to meet the clientele’s requirements. Prices remain widely spread. Sedans range between entrypriced models and luxurious icons. NEWCOMERS This year, Mercedes Benz will be featuring its new AMG GT4 four-door sedan. The car is developed from the Formula One track safety car, and is intended to compete with other icons such as the Porsche Panamera and the Maserati Gibli. Joseph Jwan, Sales Manager…

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MCKINSEY TO HELP SET NATIONAL ECONOMIC VISION The Cabinet has assigned McKinsey the task of helping the country formulate an economic policy in cooperation with the relevant ministries and other entities, said Minister of Economy and Trade Raed Khoury. A six-month agreement was signed with the international consultancy firm to conduct a study which will cost $1.4 million. According to Khoury, the major aim of the economic policy is to define a suitable economic model for Lebanon and to identify economic sectors with value-added potential. He said that all measures will be taken to protect, encourage, and issue the required laws to support these sectors. The government’s policy regarding investment incentives and job creation will be based on the findings of the study, Khoury said. Charles Arbid, Chairman of the…

Businesses that target direct corporate or individual customers have always been keen to study their location before moving in. Established businesses can also make sure they make the best of their location. Now, all of these location concerns benefit from advanced ‘mapping’ tools. These are smart, intelligent maps that give investors insights about what’s happening within an area. Business data is then integrated within a Geographic Information System (GIS). Such tools are relatively new to the local market but demand is growing rapidly, especially from banks, real estate developers, retailers, and companies performing marketing campaigns. Maps are becoming crucial for making the right decisions and reducing costs. A few specialized companies are providing customized GIS maps according to individual needs. These maps include qualitative and quantitative information about the demographics,…

The hike in public wages is also contributing to higher prices The annual inflation proxy rate reached 4.5 percent on average in 2017 after two years of deflation, and five percent from December 2016 to the end of last year. Moderate inflation can be good for the economy as it stimulates growth. Beyond a certain level it will have a negative impact on household standards of living. Rising inflation comes at a time when interest rates are increasing globally and locally. The Institute of International Finance (IIF) said in its ‘Economic Views-Lebanon: Ray of Hope’ report released in December that the country’s monetary policy needs to remain tight in order to reduce inflationary pressures. The impact of the reversal in the inflationary trend is not very strong. The International Monetary…

The security barricades surrounding Nejmeh Square in Beirut Central District (BCD) were recently lifted. Barricades were erected a few years ago to stop demonstrators from accessing the Parliament and for general security issues. But at the same time they blocked off commercial streets. Most shops and cafes in the area had to close their doors. The recent easing of restrictions was followed by a series of meetings between representatives of the private and public sector to restore BCD’s ‘golden era’. EAGER TO COME BACK The private sector has hailed the initiative that was driven by the successful New Year’s Eve party in Nejmeh Square. The party brought together over 15,000 spectators and attracted general acclaim. Chairman of Beirut Municipal Council Jamal Itani said: “We already started receiving phone calls from…

Briefcases have undergone major changes in the past 20 years. In the 1980s, people carried heavy metallic portfolio cases with a single compartment. Designers rebuilt the bag from the ground up, changing both the material and shape. These changes were mostly driven by technological advances. Businesspeople are carrying smaller cross-body bags that were previously widespread only among women. The travel bag category also witnessed an evolution in materials. Most manufactured bags come in hard and soft ‘shells’. They have gained in functionality and lost weight. Milan and Paris fashion weeks for Spring/Summer 2018 featured male models carrying bags. At the Prada show, they walked down the runway wearing the brand’s famous nylon bag. At Louis Vuitton and Dries Van Noten, variations of cross-body bags were prominent. WORK BAGS They come…

PROPERTY SALES NEAR $10 BILLION The value of real estate transactions went up 17 percent compared to the year before, according to the Real Estate Registry. Sales totaled $9.9 billion in 2017. The number of real estate transactions totaled 73,740, recording an increase of 15 percent. This makes the average price per transaction $135,000, almost stable compared to the previous year. These transactions represent property registrations. These sales contracts could have been signed years ago. Georges Maarawi, Director General of the Real Estate Registry, said: “People thought that they will be affected by the tax hike. This is why we noticed higher registrations in March and April and two months before the budget was ratified by the Parliament.” Maarawi said that the prices being registered at registry offices are closer…

Improving the infrastructure of telecommunications (telecom) is on the right track. This work is generating direct and indirect investment opportunities. The Ministry of Telecommunications (MoT), the owner of all telecom networks and part operator of some of their components, has initiated, alongside its operational arm OGERO, plans to widen the telecom offerings in the country. These plans will take the form of large investment in infrastructure which will be executed by private companies. At the same time, the plans will foster private investment in related products and services. The anticipated offers include telecom-integrated packages, which will include voice calls, Internet, TV programs, movies, etc. Such new offers open doors for the private sector to invest in associated added-value services. In fact, all companies with products depending on the Internet will…

The role of ‘social influencers’ has become increasingly powerful. These are independent social media commentators or bloggers with thousands of followers who view their feeds regularly. That’s why companies profit from social influencers’ audience to promote their brands. Locally, the trend has been gathering pace, though at a smaller scale so far compared to the rest of the world. Companies are partnering with local social influencers to recommend their products across most platforms, including Instagram, YouTube, and personal blogs. Companies are setting additional budgets annually for influencers. Due to this increasing demand, influencers are being more selective in choosing the brands that they work with, so they can convince their audience of the brand’s qualities. Companies are also taking into consideration several metrics when approaching influencers rather than their number…

Political crisis was the straw that broke the camel’s back The recent rise in the local interest rate makes deposits more attractive, but would be detrimental to investment and growth as lending becomes more costly. According to Riad Salameh, Governor of the Central Bank (BDL), the financial engineering operations launched by BDL following the rise in interest rates in early November, have contributed to protecting the national currency and upholding stability. Bankers hope that the forthcoming international conferences to support the local economy, and a functioning government, will contribute to slowing down the rising interest rates. Pending these achievements, the lira remains resilient. Salameh said that citizens have confidence in the national currency and the proof is that they are selling dollars and buying liras. In the meantime, subsidized loans…

Newly introduced 2018 models and major model revamps only. Prices are a general indication of bracket. They vary depending on factors including, but no limited to, special offers and exchange rates. Check with the car agent for actual price. Every care has been taken to ensure accuracy, but no guarantee is implied that the cars are available at, or sold for, these prices. Starting prices, including VAT Newly introduced 2018 models and major model revamps only. Prices are a general indication of bracket. They vary depending on factors including, but no limited to, special offers and exchange rates. Check with the car agent for actual price. Every care has been taken to ensure accuracy, but no guarantee is implied that the cars are available at, or sold for, these prices.…