Innholdsfortegnelse for March 2019 i Lebanon Opportunities

Mabrouk! A Cabinet was born – almost a mirror image of the previous one. By some political miracle, on a clear night consensus was achieved, followed by the speedy adoption of a government statement to Parliament and a historic level of vote of confidence. Now, the real work must begin. Or so we are promised. BIPOLAR ECONOMIC PSYCHOLOGY The tumult has subsided in the money market following the formation of the government. This was preceded by several weeks of panic triggered by a misstatement by the minister of finance. It was the feather that broke the camel’s back. International rating agencies joined the frenzy and money started flowing out of the country. It was serious, but far from apocalyptic. Now, typical of the bipolar psychology of our economy, we are witnessing…

SAMER ABBOUD REGIONAL MANAGING DIRECTOR, OGILVY LEBANON Samer Abboud has been promoted from Managing Director for Ogilvy in Qatar to Regional Managing Director at Ogilvy Lebanon. “I will work to revive the role of the country as the creative hub of the region, knowing that we lost an edge in the last years. My top priority to reach this goal is attracting brilliant talents to develop better services.” Abboud has more than 20 years of experience in the advertising sector. He holds a bachelor’s degree in business marketing from the Lebanese American University (LAU), and executive education in management from INSEAD, France. JAMIL BOUHAROUN GENERAL MANAGER, HOLCIM (LIBAN) Jamil Bouharoun has been appointed General Manager and CEO of Holcim (Liban). Bouharoun moved up the ranks, after staying with the cement…

The accelerating upward trend in local interest rates, which was driven by political and economic challenges and rising global rates, has begun to abate thanks to new positive developments. The market has stabilized following the formation of the new Cabinet and the vote of confidence it received from Parliament. There is a tendency in the banking sector towards lowering interest rates. Implementing the reforms pledged at the CEDRE conference and executing the infrastructure projects that are part of Capital Investment Plan (CIP) will send a positive signal to the market and will contribute to lowering interest rates. Prior to the formation of the new Cabinet, local interest rates were rising at a faster pace than global rates. High interest rates contribute to an escalation of debt service costs and the…

SOUND BYTES We apologize to citizens Prime Minister Saad Hariri Gebran Bassil, Minister of Foreign Affairs Fady Jreissati, Minister of the Environment Europe must play an effective role in determining our maritime borders and exploring [for gas] Parliament Speaker Nabih Berry We are determined on the reforms adopted at CEDRE. Lebanon will become like Dubai Prime Minister Saad Hariri The $11 billion was spent on the needs of the State under the applicable laws, and no penny has been spent except in its proper place Former Prime Minister Fouad Siniora They are all discussing the financial accounts, but they don’t know what they’re talking about Ali Hassan Khalil, Minister of Finance Some bank managers need to be beheaded Elie Ferzli, Deputy Parliament Speaker The industrial sector has been neglected in…

Name Wide Plains Insurance Brokers Sal Capital (Shares) LL30,000,000 /(3,000) Directors Chantal Moufid Choufani (Chairman) (1,530), Elie Wadih Hachache (30), Lintel Sal (Holding) (1,440) Reg address 7th Floor, Al-Borj Building, Place Des Martyrs, Lot No. 1473/37 Marfaa, Beirut Object General trade and insurance brokerage Banker Emirates Lebanon Bank Solicitor Me Elie Wadih Hachache Auditor Toni Youssef Abou-Aoun Name Neotic Ai Sal Capital (Shares) LL30,000,000 /(30,000) Directors Samir Abdelkarim Zein (Chairman) (25,499),Elias Joseph Feghali (4,500),Kevin Adib Sami Schoucair (01) Reg address 5th Floor, Khanimirian Building, Georges Catroux Street, Badaro area, Lot No. 4916 Mazraa, Beirut Object General trade, import, export, web and mobile application development, analysis of financial markets, workshop and event organization, consultancy Banker Bank Audi Solicitor Mes Harry Edouard Noujaim and Alain Harry Noujaim Auditor Antoine Louis Hobeika Name…

As water and other resources critical to farming become increasingly scarce, farmers are adopting new technologies to help them grow better quality crops using less. Soil sensors, weather-forecasting technology and innovative irrigation systems give farmers unprecedented amounts of information about their crops, helping them make smarter decisions, from when and what to plant, to how to manage their land. SMART FARMING Technologies such as mobile applications are gradually becoming integrated in agriculture, giving farmers access to information. “One of the main problems facing farmers is their limited access to information, small and medium farmers have to abide with the instructions given by their own suppliers, who provide them with seeds and pesticides,” said Ramy Boujawdeh, Program Director at Agrytech. The new tech allows farmers to optimize their production and irrigation,…

Rapid urban expansion has turned many of the suburban towns into micro cities that have their own suburbs. Some municipalities have embraced urbanization while others have had a bitter experience. Clients looking for homes in the up-and-coming areas have different requirements: Some come from the city, others are expats, and many are looking for peace and quiet. LOCATION, LOCATION, LOCATION The decentralization of projects creates new housing destinations and boosts the local economy, as shown by the latest figures released by the Real Estate Registry. These figures show that people are moving from the city of Jounieh towards Harissa and Daroun. The newcomers are living in Boksmaya and Bejdarfil outside of Batroun. People are leaving Jbeil to live in Hboub and Ras Osta, and Zouk for Raifoun and Achkout. Many…

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LAND FOR SALE ALEY BTALOUN close to Mama Palace. 1,810 m². Sea view. $200/m². Joseph Sleiman (03)455.339 SOUK EL GHARB municipality junction. 1,194 m². Mountain view. $350/m². Mohamad (03)686.720 JBEIL BLAT close to LAU. 2,000m². Sea and mountain view. $375/m². Gladys (76)088.613 JBEIL close to Al-Qorban Nuns High School. 850m². Nice view. $200,000. Michel Sakr (03)820.718 KESROUAN NAHR EL ZAHAB close to Jabal Moussa Nature Reserve. 820m². $70,000. Elie Nachef (70)843.799 OUYOUN EL SIMAN villa zone. 2,366 m². Mountain view. $600/m². Samer Sioufi (03)337.700 METN BAUSHRIEH close to Khawli supermarket. 408m². $380,000. Freddy Eid (03)126.822 NAAS close to Abi Hayla villa. 850 m². $1,000/m². Tony Bitar (03)318.910 NORTH AKKAR Karkaf area. 4,000m². Sea and mountain view. $300,000. Mohamad Temsah (03)234.634 SHOUF AIN W ZEIN close to Ain Wazein Public High…

▪ PUBLIC INVESTMENT TO SEE DOUBLE-DIGIT GROWTH ▪ ONE TO TWO PERCENT ECONOMIC GROWTH PROJECTED ▪ FISCAL DEFICIT REMAINS KEY VULNERABILITY The new Cabinet’s commitment to be active and effective and the vote of confidence it received from Parliament have buoyed hopes in the country’s economic prospects. The government will have to overcome many hurdles. “The new government faces formidable economic challenges in a context of severe fiscal and current account imbalances and difficult external environment. Public debt ratio has risen to unsustainable levels, and real GDP growth has slowed to an average of 1.4 percent during 2011-2018,” the Institute of International Finance (IIF) said in a country report, ‘Lebanon: Time to Act’, released last month. The IIF report and other recent economic studies by international bank Standard Chartered and…

Makram Sader Secretary-General of the Association of Banks in Lebanon The formation of the Cabinet was a positive development as well as a useful and indispensable one regardless of how the media portrays the government as merely fulfilling the needs of Hezbollah. It is a government to serve the shared interests of political factions, a government to fend off further economic erosion and economic perils against the downgrade of Lebanon’s credit rating, a government that reassures Western countries and puts foreign assistance back in the cards… Each of these portrayals is a fraction of the bitter truth and of the very difficult political reality. The Prime Minister did well when he apologized to the Lebanese people for the eight month delay in the formation of the Cabinet, and also when…

Jal El Bahr 596 Area Ain El Mreisseh, Manara St., behind Riviera Architect Rayan Fawaz & Haidar Hazime Developer Mohamed Hazime Contractor Mohamed Hazime Delivery July 2019 Apt. Sizes 200 m² - 370 m² Price/m² Starting at $6,000 Phone (03) 472.962 Al Salam Bldg. Area Badaro, close to Al Baba Sweets Architect Al-Nasr Group For Contracting & Construction Developer Al-Nasr Group For Contracting & Construction Contractor Al-Nasr Group For Contracting & Construction Delivery Dec. 2019 Apt. Sizes 285 m² Price/m² Starting at $3,200 Phone (01) 557.757 (71) 709.292 Nour Bldg. Area Bourj Abi Haidar, close to Kasr Al Thakafa School Architect Dar Al-Omran: Maarouf Makouk Developer Abdel Rahman Kaakani Contractor Abdel Rahman Kaakani Delivery Jan. 2020 Apt. Sizes 110 m² Price/m² Starting at $2,350 Phone (03) 317.045 ISuites Residence Area…

ACCOUNTING/FINANCE ACCOUNTANT CONTROLLER for Editec. Four years’ experience in accounting, audit, or any other finance position. Bachelor’s degree in Accounting, Finance, or a related field. A thorough knowledge of the retail business is required. Experience working with emerging market would be an advantage. Assist the financial controller in various aspects of accounting and finance, like controlling, internal controls, and governance processes. Self-starter, accustomed to working with autonomy, leading and delivering high quality value-add assignments on time. Apply through: https://www.editec.co/careers/jobs/ CHIEF ACCOUNTANT for Maatouk Factories. Five years ‘experience as chief accountant. Bachelor’s degree. Email: info@maatoul.com CHIEF ACCOUNTANT for Serhal Nassar & Co. Five years ‘experience. Bachelor’s degree. Prior experience with ERP and Microsoft dynamics is required. Email: linda.saliba@serhalco.com INTERNAL AUDIT MANAGER for Online Money Transfer (OMT). Twelve years’ experience in internal…