Innholdsfortegnelse for Oct-18 i Lebanon Opportunities

It is not enough to have an online and social media presence. A personal image needs to be as polished as well as a virtual image. This is especially true for jobs that rely on public interaction, networking, and relationship building. All the above is true for company leaders, but also for those in sales, marketing, and customer service. Image consultancies have sprung up to meet this demand in recent years. SERVICE BUSINESS Image consulting is the profession of helping people to manage their image in order to have a more rewarding personal and professional life. “Image consultancy is more than enhancing the physical appearance, it is personal branding,” said Milad Hadchiti, owner of NecPlusUltra, a personal branding company. The coach should understand his client and reach the core of…

Rising interest rates are weighing on the credit available to the private sector, which is already weakened by the stalemate in loan subsidies. Persistent political challenges continue to dampen investor and consumer confidence and consequently further weaken demand for loans. According to Riad Salameh, Governor of the Central Bank (BDL), lending is likely to drop by 1.6 percent in 2018 compared with the previous year. The weighted average interest rate on loans denominated in lira surged in the beginning of 2016 then jumped again in the first quarter of 2018. It rose from 7.45 percent in December 2015 to 8.66 percent in July of this year. The average rate for loans in foreign currencies rose by one percentage point to almost eight percent over the same period. Despite the fact…

Sweaters are difficult to get right. Too thick and they look old fashioned, while patterned pieces often look kitsch. v-necks, crew necks, Arans and more, there are a wealth of options for formal and casual occasions, for the older and younger generations. Follow our guide and you are sure to find something this season. DIFFERENT CUTS Sweaters are distinguished by their cut. The v-neck is a timeless, classic style. It draws attention to the wearer’s face, and adds a touch of formality. The crew neck, or round neck, is also quite common. T-shirts or vests worn beneath this sweater should not be visible. The ‘V’ and crew neck sweaters are in the greatest demand, according to Nabil Zbib, Manager at the Giorgio Armani store. A turtleneck sweater makes a man…

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 annual inflation rate more than doubled to 7.6 percent in July from 3.1 percent in the same month of 2017, according to the Central Administration of Statistics. All categories of goods and services constituting the Consumer Price Index (CPI) witnessed an upsurge in their prices. “Inflationary pressures have increased due to the spike in global oil prices, the sharp increase in public wages, higher global food prices, and the increase in the costs of agricultural production,” said the Institute of International Finance (IIF) in its Lebanon country report titled ‘Tribal Politics Continues to Hinder Reforms’. The Economist Intelligence Unit (EIU) has revised up its inflation forecast for 2018 to an average of 6.4 percent. The IIF expects the average inflation rate to increase to 5.7 percent in 2018 from…

An increasing number of large and medium-sized family businesses are recognizing the need to organize the structure of their business and identify the roles of all family members. Only five percent of family businesses survive into the third generation of ownership, according to the International Finance Corporation (IFC). This is also the case locally, due to subsequent generations being unable to handle the demands of a growing business. Most local large family businesses are adopting governance models to safeguard their long term internal stability, sustainability, and growth. Founders of medium and small-sized family businesses are also overseeing the transfer of authority before they pass away. OBSESSION WITH CONTINUITY It is said that the first generation builds, the second spends, and the third generation blows it. Many local family-owned companies are…

CAR LOANS Half of the 26 banks covered by a survey recently carried out by Infopro Research have raised the interest rates on loans provided for purchases of new cars. The interest rates increased on average by 102 basis points (bps) to an average rate of 5.21 percent. The interest hikes ranged from 15 bps to 250 bps. The rates charged by the 26 covered banks in 2018 ranged from 3.69 percent to seven percent. Loans for purchases of used cars are charged higher interest rates. Out of the 26 banks, 11 lenders raised the interest rates on their used car loans. The rates increased on average by 78 bps to an average interest rate of 6.74 percent in 2018. The rates charged by the 26 banks this year ranged…

There is a clear shift in the perception of bicycle riding. Increasingly, individuals are adopting bikes as an urban commuting and lifestyle choice and not just using them for sports and exercise. Riders appreciate the social benefits of group riding. Interest in cycling can be found among individuals of various age ranges, and socio-economic classes. Agents and sub-dealers offer a broad range of models targeted to all budgets. Cyclists benefit from continuous improvements in terms of design, technology, and safety features to enhance their cycling experience. ABUNDANT OPTIONS There are brands dedicated to various needs at all price ranges. There are several importers, who sell directly to clients or through dealers. Each brand designs and produces various types and categories of bike. There are two major types of bikes, mountain…

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…

The recently ratified Integrated Solid Waste Management law prioritizes waste reduction and recycling, and the administrative decentralization of solid waste management. “The law is the cornerstone for the reform of this vital sector, which affects the citizens’ life and health,” said Tarek El Khatib, Minister of Environment. However, environmental activists are opposed to the law on environmental and public health grounds, saying it suffers from several shortcomings and loopholes. CONTENT The law prioritizes waste reduction and recycling, among other waste management processes such as sorting at the source, composting, and disposal of inert waste materials. The law indicates that after composting, energy resources should be retrieved if the process does not cause a negative environmental impact, and is economically feasible. It says that non-recycled solid waste should be disposed of…

UNE SAGA LIBANAISE – LA FAMILLE KETTANEH Alice Boustany Djermakian 313 pages in French Editions de la Revue Phénicienne LL49,000 Business in Lebanon, large and small, has long been dominated by families. Most disappear after two or three generations. A small number survive and thrive, building block upon block, drawing from both tradition and modernity. Such is the case of the Kettaneh family, which can trace its origins back eight generations, starting with the birth of Antoun Dib Kettaneh in Jerusalem in 1669. THOMAS COOK BRINGS THE FAMILY TO BEIRUT The Kettaneh family business saw its first big break when a family member, a Thomas Cook country manager, was tasked to organize the visit of the German Emperor Wilhelm II to Palestine. A branch of the family moved to Beirut…

The term ‘souq’ was coined in the sixth century BC, when cities became populated and trade moved inside the city walls, and into the center. Today, the souq, or the main street, remains a destination for a stroll, a coffee, and for shopping. From a real estate perspective, a prime location, high traffic, and a decline in shop rental prices make a street side store an interesting option to explore. But the street is fighting on several fronts, including mushrooming malls and growth in online shopping habits. These factors have weakened demand for some rental locations, which has pushed leasing prices down. In these areas, tenants have the upper hand in negotiating prices, access to amenities, and upgraded facilities. InfoPro Research conducted a survey among property brokers to assess the…

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