Sedan cars buyers' guide2018
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EDITORIAL Lebanon Opportunities by the editor-in-chief Publisher & editor-in-chief Ramzi El Hafez
Editorial consultant Nicolas Sbeih
Responsible manager Open season Iman Chamas
Editorial team he electoral season has begun. Be ready to get exposed to the most fantastical Yassmine Alieh Rania Ghanem combinations of alliances, campaign promises, and below-the-belt maneuvers. Shikrallah Nakhoul T Each election has its own flavor. This one will be tutti-frutti. In parallel, there are Samer Rasbey three donor conferences underway, the most significant one is tentatively scheduled in Paris this spring.
THE DARK SIDE OF THE MOON Past elections have provided sizeable cash infusions to the economy, as candidates and their parties didn’t spare a dime to ensure victory – or just a decent showing. Not all spending was decent. A lot of moolah was spent to buy votes, secure the withdrawal of adversaries, or reserve a place on a winning slate. This year, spending is expected to be Printing modest in comparison to former elections. This is due to weakening fortunes of local Photogravure Vartan sarl czars and the tightened finances – and lack of funding appetite – of regional regimes that used to take to heart our local suffrage. The dark side of the moon will not be big. Respecting the environment Paper. Since 2006, Lebanon Opportunities has been printed on Terrapint paper sourced from Kable. Its factory A QUEST TO BORROW is approved by the Forest Stewardship Council (FSC). In absence of true reform – and even if it was being undertaken – there is no alternative Its paper is made from wood from sustainably managed to more public borrowing. This time, with preparations underway of the Paris 4 forests certified by ISO 14001, PEFC, and ESC. Five trees are Conference, now renamed ‘Cèdre I’ by the French – notice the numeral ‘I’ – there seems planted for each one cut. to be no cap to what the government will be asking for. The billions in projects being Bags. Lebanon Opportunities is distributed in Reverte bags, which ensures that they are oxo-biodegradable. advanced are staggering. There will be a lot of economists and political pundits who will Recognition. InfoPro, the publisher of Lebanon criticize substantially raising the debt level. Proponents of debt increase will point to Opportunities, has been recognized by the Ministry of the lack of immediate and practical alternatives, and to the parallel impact of increasing Environment for its contribution to a cleaner environment. GDP, which will keep the fabled (but meaningless) debt/GDP ratio within manageable levels. Who is right? Both are. Who is wrong? Both, as well. The international donors will insist to see first steps of reform before doling out any money. First steps toward Distribution reform will need to be demonstrated. But true reform is unlikely to occur. Corruption The Lebanese Company for the Distribution of Periodicals will just morph into other schemes. Phone: (961-1) 368.007, (961-1) 366.684 Fax:(961-1) 366.683 GOING FOR BROKE E-mail: [email protected] The pitch to the conference includes a laundry list of more than 250 projects and wish lists from all corners of government. Pushing for hundreds of stagnant projects to be launched at once may seem overreaching, or unpractical. In practice, the projects will be Dedicated to Leila Osseiran started in phases, as capacity becomes available, and some may take up to ten years to LEBANON OPPORTUNITIES ® be launched. Other projects will not see the light of day because they will be hampered Published monthly by politics, special interests, or sheer incompetent bureaucracy. The government is not InfoPro SAL able to engage in planning for obvious reasons. Short of that, the endless list is not as Hamra Street – Piccadilly Center – 2nd floor stupid as it seems, to put all the chips of the table and see which ones win. What seems P.O. Box 11-4355 Beirut, Lebanon like a reckless approach is actually the sanest in an environment where wisdom and Phone: (961-1) 739.777 good sense have no place. Fax: (961-1) 74.90.90 E-mail: [email protected] Website: www.opportunities.com.lb NO IMMEDIATE IMPACT The level of nagging by businesses has subsided a little as of late. Should the conference in Paris be successful, there will windfalls for the private sector in the middle term, starting with an increased investment and business confidence. Public spending will not start until the elections are over, a new Cabinet is formed, agreements are signed with donors, and actual contracting begins. This is shooting for end-of-year at the earliest, TO SUBSCRIBE with the bulk starting mid-next year. Too long? Not in comparison with the decades of Phone (961-1) 739.777 waiting. Too heavy and expensive? That’s for the next generation to decide. Fax (961-1) 74.90.90 Website www.opportunities.com.lb
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LEBANON OPPORTUNITIES, JANUARY 2018 1 INFORMATION BITS & BYTES
SOUND BYTES INFO BYTES
We will build the State. No matter what O $1.5 billion is collected yearly from subscribers the country will take off and prosperity by private electricity generator owners. will return Electricité du Liban collects $650 million President Michel Aoun O 38 percent is the real estate share of $67 billion Fighting for employee rights should not in bank loans to the private sector lead to a punishment of citizens Prime Minister Saad Hariri O 95 percent of the public debt in foreign and national currencies is local Those who employed McKinsey are idiots Walid Jumblatt, MP O 60 closed compartments have been identified underwater within the blocks surveyed for oil and gas Maybe the idiots can do what the smart ones failed to achieve in 28 years O $2.9 billion worth of lira (five percent of total) Raed Khoury, was converted into dollars and $2.6 billion (1.5 Minister of Economy and Trade percent of base) was transferred overseas as a result of the November crisis For a year now I have been asking for a Cabinet session on education without responsiveness. If a meeting DATA BITS is dedicated to electricity ships, they would respond immediately Marwan Hamadeh, FINANCIAL INDICATORS Minister of Education Bank Deposits BSE Market Capitalization I call for a state of emergency on water In billion In billion $175 – 169.1 $16 – 162.5 in light of its scarcity and drought 151.6 Wael Abou Faour, MP and former $150 – 144.4 $14 – 11.9 Minister of Public Health $12 – 11.5 $125 – 11.2 11.2 $10 – I am protecting agriculture. I will stop $100 – $8 – the entry of any product to the country $75 – Ghazi Zeaiter, Minister of Agriculture $6 – $50 – $4 – Increasing interest rates strengthens $25 – $2 – the lira 0 0 Riad Salameh, 2014 2015 2016 Q3 ’17 2014 2015 2016 2017 Governor of the Central Bank Source: Central Bank Source: Beirut Stock Exchange
We should start learning Chinese to Gold + FX Reserves Cleared Checks In billion In billion integrate in tomorrow’s economy $80 – Gold Gross FX Gold + FX 69.6
Nicolas Chammas, Chairman of the reserves reserves reserves 68.1 Beirut Traders Association $60 – $60 –
$50 – 46.9 51.9 50.7 43.4 44.7 50.4 Those who claim a $1,000 minimum 40.5 $40 – wage in the private sector are living on $40 – another planet $30 – Tony Rami, Chairman of the $20 – $20 – Syndicate of Restaurant Owners $10 –
11 32.4 9.8 30.6 10.7 34 11.9 35.1 0 After joining the oil club, we’re going 0 Jan-Sept 2015 Jan-Sept 2016 Jan-Sept to have the petro-lira 2014 2015 2016 Q3’ 17 2015 2016 2017 Adel Karam, Comedian Source: Central Bank Source: Central Bank
2 LEBANON OPPORTUNITIES, FEBRUARY 2018
FEBRUARY 2018 CONTENTS
IN GOOD COMPANY Beirut Port hub for Hamburg Süd.Virgin Megastores only in large malls. Incubator launched at Rafik Hariri University. Hotel de Ville becomes Oak PAGE 8
MONEY & BANKING Central Bank to subsidize loans worth $1 billion. Banks barred from insurance. IFC funds EIP $60 million for SMEs. Banks required to submit strategic plans PAGE 10
IN BRIEF BUSINESS AND ECONOMY People on the move 19 New companies 21
FINANCE Opinion: Mounir Rached 56 The lira will not crumble Inflation up again 48 Interest rates to remain up 58 Opinion: Riad Tabbara 50 Official information and statistics are out of control Opinion: Makram Sader 62 Three issues inherited from last year To Read: The Entrepreneur Handbook 55
COVER STORY: TECH IS EVERYWHERE Preface 25 Growing the startup ecosystem 266 Telecom finally on the right track 30 Fighting cyber threats 34 Cybercrimes can cost a company money, time, valuable data, and reputation. But protective and response plans do exist to alleviate the risks GIS Solutions: Map your business 38 Social media influencers 42 A human touch to reach the target audience The real life of Virtual Reality 46 Brands tapping VR’s potential to enhance consumer experiences – and their strategy
4 LEBANON OPPORTUNITIES, FEBRUARY 2018 OFFICIAL BUSINESS McKinsey to help set national economic vision. 24-hour electricity in Beirut next year. End of Debbas contract for South and suburbs. EDL workers to benefit from new salary scale. Tripoli shuts down malfunctioning waste-sorting plant. Music conservatory launched. Public entities to cut spending by 20 percent PAGE 12
MATTERS OF FACT Property sales near $10 billion. Small cars behind auto sales increase. Over 8 million airport passengers. Tourist tax free spending is growing. Transshipment up following two-year dip. Central Bank assets rise 16 percent. Trading volume down on Beirut bourse. PAGE 14
REAL ESTATE BUSINESS LIFESTYLE Unchaining Beirut Central District 64 Dress for Success 72 Travel and work bags Dress for Success listing 74
Big Boys Toys: Sedan cars 2018 78 Energetic, smart, and efficient Big Boys Toys listing 80
New projects 66 Construction costs 71
BUSINESS CALENDAR Local exhibitions 84 Conferences & delegations 85 International exhibitions 86
BUSINESS TO BUSINESS Business to business 88 Real estate classifieds 89 Employment classifieds 95
LEBANON OPPORTUNITIES, FEBRUARY 2018 5
IN BRIEF Provided by IN GOOD COMPANY
VIRGIN MEGASTORES market share of the entertain- platform, and a committee of ONLY IN LARGE MALLS ment business, which includes academics and businessmen The iconic Virgin Megastores gaming, multimedia, and gad- will assess ideas. The incuba- branch at the Opera House gets. The four-story branch tor will be seeking to finance building in Beirut Central was inaugurated in 2001 in startups through venture capi- District has closed down. The the presence of Richard Bran- tal funds benefitting from the decision was taken as part of son. Virgin Megastores can be Central Bank’s Circular 331, the company’s strategy to shift found at the airport and in and private investors. Chehade operations from retail streets City Mall, City Centre Beirut, said that expected investment to malls, according to former Beirut Souks, and all three ABC tickets would range between minister Marwan Kheireddine, malls. The most recent opening $200,000 and $2 million. A the major shareholder of Me- was in ABC Verdun. startup can open a branch in gastores of Lebanon, the local L0218-04 Germany if the required tech- franchisee. Kheireddine said: nology is unavailable locally. “The trend in shopping has INCUBATOR LAUNCHED AT Incubation periods and break- moved from standalone shops RAFIK HARIRI UNIVERSITY even analysis will be decided by BEIRUT PORT to malls. The second reason is The Maria Goeppert Mayer In- specialized committees. Office HUB FOR HAMBURG SÜD because there is lack of demand cubator (MGMI) was launched facilities will be free of charge The German container ship- for CDs and DVDs.” Listeners at the Rafik Hariri University during the incubation period. ping company Hamburg Süd have increasingly relied on on- (RHU) in Mechref. MGMI is the L0218-05 has adopted the Port of Bei- line sources to listen to music result of cooperation between rut (PoB) as a transshipment and watch movies. The share local partners and the German HOTEL DE hub for its operations in the of music sales has gradually Embassy to transfer hi-tech VILLE BECOMES OAK east Mediterranean. Samir slipped in favor of electronics knowledge to local startups. Minor Hotels, an international Moukawem, Chairman of and multimedia. The flagship It will link local technology management chain, will man- Sealine Group and Hamburg Opera House location, which is ideas with German knowhow. age a hotel owned by Allied Süd’s official local represen- over 2,200 square meters, had Ayman Chehade, initiator of Investment Group, a hospital- tative, said: “The shipping departments for books, multi- the project and Director of the ity company, previously known company decided to use the media, gaming, and computer MGMI, said that the incuba- as Hotel de Ville. As of June port as a hub to Lattakia and hardware and electronics. The tor will be affiliating with the the hotel will operate under East European ports because Martyrs Square branch also Innovation Center, which is a the brand name Oaks Beirut. it foresees a good future in suffered from high operational German governmental insti- Allied Investment, owned by Syria and the region.” Large costs. The annual rent reached tution that aims to enhance Joseph Nemer, is in the pro- vessels used to carry up to $1 million at one point. Main- startups in Germany. Entre- cess of renovating the 4A-star 7,000 Twenty-Foot Equivalent tenance fees touched $150,000. preneurs at the incubator will hotel. The hotel, which closed Unit (TEU) containers from The number of employees, to- benefit from the laboratories last October, was managed the Far East and unload in taling 230, was also considered available at RHU to experi- by Golden Tulip. Investment Lattakia. Instead, mother high. The staff has been redi- ment with their projects. Par- in the renovation is $5 mil- vessels coming from the Far rected to other branches. “We ticipants will also have access lion. Renovia Beirut, owned by East are unloading cargo at plan to keep going. This move to consultation from the RHU Greco Younan, is renovating the PoB. “Feeder vessels are is not intended to reduce our academic team. Another office the building. The total built- then sent to Limassol, Greece, local presence,” Kheireddine location will be set at a later up area of the hotel is 7,000 Turkey, and Syria,” he said. said. According to company stage in Downtown. Start- square meters. It will include Hamburg Süd is also dis- figures, Virgin has a 75 percent ups can register on MGMI’s 120 rooms, out of which 50 patching vessels from ‘North are suites. The hotel will also Ports’, consisting of the ports comprise an international res- in Hamburg, Antwerp, and taurant, a conference room Rotterdam, and unloading at capable of holding 120 people, the PoB. Cargo is then sent two meeting rooms, a roof- using feeder vessels to Lat- top pool and bar, and three takia. Hamburg Süd will send floors of underground parking. up to 15,000 TEUs per year. The hotel is expected to create The port cannot process much around 100 jobs. Minor Hotels larger quantities, according operates four brands: Anan- to Moukawem. tara, AVANI, Tivoli, and Oaks. L0218-03 L0218-06
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8 LEBANON OPPORTUNITIES, FEBRUARY 2018
IN BRIEF MONEY & BANKING
CENTRAL BANK (PCH) will get the lion’s share Lahoud, Chairman of PCH, out on exemptions from their TO SUBSIDIZE LOANS of this support, according to said they continued to process reserve requirements that BDL WORTH $1 BILLION Hamdan. Banque de l’Habitat loan applications at the usual allowed to subsidize end-user The Central Bank (BDL) has a (The Housing Bank) will also pace since it takes up to four loans. The Central Bank said new stimulus package for 2018. continue to benefit from this months for the application files last year that, starting in Octo- Interest rates on housing loans program. Hamdan said that to reach the banks. Only lira- ber 2017, banks can no longer and loans provided to the pro- the productive and technology based subsidized loans have benefit from these exemptions. ductive sectors will be subsi- sectors will continue to profit been granted in the last two L0218-11 dized, according to Wael Ham- from the subsidies as well as months. Most of the loans that dan, Head of BDL’s Financing microcredit borrowers and stu- the banks are providing are BANKS BARRED Unit. The new package dif- dents. Banks will be required dollar denominated. The rea- FROM INSURANCE fers from the previous stimu- to abide by limits set by BDL son for the shift in lending The Central Bank (BDL) has lus program. The banks will on the amounts they can lend currencies was a scarcity in instructed banks and financial provide the loans from their under the stimulus package. liquidity in lira. BDL had origi- institutions not to engage in own liquidity. BDL will offer the BDL said that the additional nally earmarked a package of insurance or reinsurance ac- interest subsidies. The aggre- $500 million stimulus package $1 billion for 2017 under the tivities or market and advertise gate value of loans subsidized granted for 2017 has been used previous stimulus program. insurance contracts. Insurance is capped at $1 billion. There up. It said that demand for sub- It was completely disbursed. companies owned by banks can will be additional modifications sidized loans has been unprec- BDL issued an additional $500 continue their business opera- to the new package but they edented since the last package million. The sums allocated tions as usual but they cannot are not major changes, Ham- was approved in October 2017. by BDL under that program market their deals through the dan said. Interest rates will Strong demand caused delays totaled $5.9 billion. The pro- banks. BDL said that the banks be raised slightly. The Pub- in the processing of loan ap- gram was launched in 2013 and financial institutions are lic Corporation for Housing plications and approvals. Rony when many banks had maxed also prohibited from allowing
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10 LEBANON OPPORTUNITIES, FEBRUARY 2018 Provided by
representatives of insurance private equity fund manage- companies to have a work space ment company, has received on their premises. A number commitments to become share- of banks are providing space holders in its capital from the to these representatives in International Finance Corpo- their own work locations. Some ration and Dutch Good Growth banks are also advertising in- Fund. The value of the fund is surance contracts through $50-60 million. The first phase various mass media and social of subscriptions will be closed media, according to the notifica- in the first quarter of this year. tion. The Code of Money and The fund will employ its capital Credit does not allow banks to in the coming three years in be involved in activities other eight to ten small and medium than banking. Advertising in- enterprises in Lebanon, Egypt, has been pushed to the end of competitive advantage factors surance and reinsurance deals Jordan, and Iraq. Funds in- April 2018. The action plans compared to other banks, as is confined by law to insurance vested in each project range are used to execute the bank’s well as the bank’s main ac- companies, brokers, and enti- between $5-8 million. Wassim general strategy. The strategic tivities, products, and services. ties licensed by the Ministry Hneineh, CEO of EIP, said that and action plans must cover a The action plan should also of Economy and Trade. Elie Lebanon’s share from this period of at least three years. state the bank’s current ad- Hanna, Chairman of the Leba- fund will be 50 percent. The They should also encompass ministrative structure and the nese Insurance Brokers Syndi- SMEs will come from several the foreign units of the banks related anticipated changes. It cate, said: “We have been asking sectors, including agricultural either through consolidated or must also specify the needs for the Central Bank for more than industries, health, education, standalone plans. The banks increasing the bank’s work- ten years to put an end to this trade, and logistic services. The used to prepare strategic plans force and the time schedule unlawful practice. Many banks companies should be able to ex- on their own initiative and required for achieving this. The were forcing insurance policies port and have ability to achieve the BCCL used to look at these action plan must include a mar- on their customers and the con- growth. Hneineh said: “The plans, according to a person keting strategy pertaining to ditions stipulated in their poli- fund is in the process of assess- familiar with the matter. It the new products and services cies were ambiguous and didn’t ing the available opportunities, has now officially and explicitly that the bank will offer and the really serve the best interests and it will be ready for start- asked the banks to prepare the economic sectors and the geo- of customers.” He said that ing investments in the second plans and submit them on a graphic areas that it intends to the banks have a 20-25 percent quarter.” The fund is keen that regular basis, the source said. focus on. It should also include market share in the insurance the investments will encourage The BCCL has also stipulated the risk appetite and the risk sector. Max Zaccar, Chairman economic development and cre- the conditions and the frame- profile of the bank and iden- of the Association of Insurance ate jobs. Karim Burhani, also work for this task. The gen- tify the high-risk activities and Companies, said that brokers CEO of EIP, said: “The fund will eral strategy, according to the anticipated changes in the risk will benefit the most as the BDL choose the successful compa- BCCL’s circular, must feature profile. Targets related to the decision will have an impact on nies, and will work on empow- the expected changes pertain- capital adequacy ratio, return the distribution of insurance ering them financially to be ing to the banks’ expansion on equity, return on assets, and policies, not on the issuance of able to expand their work in the plans. Such changes include net interest margins should insurance policies. Each of the regional market.” the branches to be opened (or also be included, as well as insurance companies is likely L0218-13 closed), setting up of headquar- the bank’s dividend policy. The to keep its market share, but ters, and upgrading or chang- action plan must also reveal those which are not owned by BANKS REQUIRED TO ing their information tech- the bank’s goals pertaining to banks might expand their share SUBMIT STRATEGIC PLANS nology systems. Anticipated liquidity and the way it deals a little as bank customers will The Central Bank’s Banking changes in the shareholder with liquidity risks. The finan- be free to select their own insur- Control Commission (BCCL) is- base, the board of directors, cial statements that must be ers, according to Zaccar. sued a circular asking all banks or the board committees must attached to the action plan in- L0218-12 to prepare strategic plans and also be included. The action clude annual budgets, projected related action plans. The banks plan must be built on realistic balance sheet summaries, pro- IFC FUNDS EIP must update these plans at risk assessments and scientific jected income statement sum- $60 MILLION FOR SMES least once a year and when and reasonable assumptions maries, projected cash flow The EIP Levant Fund, which needed. They should submit about economic and market statement summaries, and was established and is man- them to the BCCL before the conditions and the competitive projected off-balance sheet aged by Emerging Investment end of January of each year. situation. It must include the account summaries. Partners (EIP), a Beirut-based For the first time, the deadline bank’s business model and its L0218-14
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LEBANON OPPORTUNITIES, FEBRUARY 2018 11 IN BRIEF OFFICIAL BUSINESS
24-HOUR ELECTRICITY Liban (EDL) for new requests. IN BEIRUT NEXT YEAR NEUC is a subsidiary company of The Municipality of Beirut is Debbas. It is one of three private preparing to provide the capital service providers tasked with with 24-hour electricity next maintenance, bill collection, year, said Jamal Itani, Chair- and installation of smart meters man of the Municipal Council. on behalf of EDL. It is also the Beirut needs between 150 and only company whose contract 200 megawatts to cover the was not renewed. The other two daily blackout of four and a companies, BUS and KVA, had half hours on average. “We their contracts renewed last have contacted Electricité du October for four years. NEUC Liban (EDL) and the Ministry was undergoing negotiations MCKINSEY TO The measure has triggered of Energy and Water, who re- with the Ministry of Energy and HELP SET NATIONAL virulent opposition. MP and for- sponded positively to our pro- Water. “Contracts were going to ECONOMIC VISION mer minister Walid Jumblatt posal,” Itani said. The tender be signed on December 27, but The Cabinet has assigned McK- said that only idiots (he used will be launched this month. the deal broke down at the last insey the task of helping the the term ‘donkeys’ in Arabic) Itani said: “If everything goes minute for political reasons,” country formulate an economic would do such a thing. Khoury according to plan, we hope a source close to the issue said. policy in cooperation with the responded on Twitter, saying Beirut will have nonstop elec- The company was unable to relevant ministries and other that maybe it will take idiots to tricity within the next nine conduct normal operations as entities, said Minister of Econ- succeed where geniuses have to 12 months from awarding it had in the past 21 months. omy and Trade Raed Khoury. failed for 28 years. Former the contract.” The new power “The contract was being re- A six-month agreement was minister Nicolas Nahas said plant will be located near one newed every three months. The signed with the international that it is commendable to con- of the substations. The plant banks wouldn’t give large credit consultancy firm to conduct duct scientific studies about will either be financed jointly facilities because of that and the a study which will cost $1.4 the economy but the key issue by the municipality and inves- company couldn’t do everything million. According to Khoury, is implementation. He said: tors, or through private invest- it wanted to,” the source said. the major aim of the economic “What’s the point of spending ments. Electricity would then NEUC suffered bigger financial policy is to define a suitable eco- millions of dollars on studies be sold to EDL. problems than its two coun- nomic model for Lebanon and whose findings are not taken L0218-22 terparts. It operated with 950 to identify economic sectors into consideration?” There employees versus the 800 of with value-added potential. He were five to six previous valu- END OF DEBBAS CONTRACT BUS and KVA combined. Over said that all measures will be able studies, conducted since FOR SOUTH AND SUBURBS the past five years, salaries taken to protect, encourage, the Paris I donor conference, alone cost $30 million. The com- and issue the required laws and not a single recommenda- pany had 400 excess employees. to support these sectors. The tion was executed, according NEUC was asked by the Ministry government’s policy regarding to Nahas. The reforms, espe- to subcontract to another com- investment incentives and job cially the creation of regulatory pany for the South. But that creation will be based on the authorities called for by the company had set its eyes on the findings of the study, Khoury different donor conferences, entire area covered by NEUC. It said. Charles Arbid, Chairman have not been carried out. Ac- also refused to take in the extra of the Economic and Social cording to economist Marwan workers. When the deal with Council, said that the Council Iskandar, there is no need for the subcontractor did not work, will play a crucial role in the an exhaustive and complex NEUC tried to strike a deal with study since a major part of it study and such undertaking other contractors, but to no will consist of communicating could very easily be done lo- avail. NEUC now has to pay over and listening to players in dif- cally. “The study is not going National Electric Utility Com- $50 million in dues, consisting ferent economic and productive to bring any new findings that pany (NEUC), the electricity of three months’ salaries, and sectors. He said that they have are not already known,” he service provider operating in payments to suppliers and sub- reached an agreement with the said. Iskandar said the govern- the southern suburbs and the contractors. The source said: Minister of Economy regarding ment’s aim regarding the study South, announced that it has “It is still not clear whether the Council’s participation in could be to present the outcome ceased operations. NEUC’s con- NEUC’s contract will be renewed the study. According to Arbid, to international donors at the tract expired at the end of or has been terminated once meetings with the concerned next Paris Conference. the year. The company asked and for all.” parties will start next week. L0218-21 citizens to contact Electricité du L0218-23
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12 LEBANON OPPORTUNITIES, FEBRUARY 2018 Provided by
EDL WORKERS TO BENEFIT PUBLIC ENTITIES TO CUT FROM NEW SALARY SCALE SPENDING BY 20 PERCENT An agreement was reached The Prime Minister has in- between workers at Electric- structed all state departments, ite du Liban (EDL) and the public institutions, and other organization’s management. entities financed through the Workers suspended protests public budget to reduce their after the agreement. EDL will cost projections for the draft deal with the contracted work- budget of 2018 by 20 percent. ers according to Labor Law The decision is part of the 46 and will consider them government’s financial policy as public sector employees. that aims to rationalize spend- They will be given appropriate ing and rein in public finance. ranks and pay grade improve- Salaries and related costs are ments. The basic salary to be excluded from the budget cuts. considered regarding any in- The concerned entities should crease is that of 2008, as for all resubmit their reduced draft other public sector servants. TRIPOLI SHUTS Fuel) plant.” Kamareddine budgets within two weeks to Bechara Al Asmar, Chairman DOWN MALFUNCTIONING expects that by the end of the the Ministry of Finance and of the General Confederation WASTE-SORTING PLANT three-year period, the land- the administrative tutelage of Lebanese Workers (GCLW), The Municipality of Tripoli fill would be filled, but the authorities. Economist Roger said that the agreement was closed a waste-sorting facil- plant would be constructed Melki said that the decision will reached following coordina- ity that serves Fayhaa Union and operational. not have a significant impact tion between different par- of Municipalities, after com- L0218-25 on total expenditure or on the ties, including the Ministry plaints by citizens about the fiscal deficit because salaries, of Finance, the Ministry of stench emanating from it. MUSIC debt service, and transfers to Energy and Water (MoEW), The Chairman of the Trip- CONSERVATORY LAUNCHED Electricité du Liban constitute EDL, and the GCLW. According oli Municipal board, Ahmad A project for the development more than 80 percent of the to Asmar, nearly 1,800 em- Kamareddine, said: “We of a music conservatory in budget and these cannot be ployees will benefit from the brought experts to inspect the Dbayeh has been launched. reduced. He said that many of agreement, and receive a con- source of the stench because The project will be financed by the remaining 20 percent cost siderable percentage increase we thought it was from the a grant from the Chinese gov- items, such as rent, cannot be on their current salaries. A dump. They were conclusive ernment, totaling $35 million. decreased either. Public works source close to the issue said that the source is the sorting The Chinese will design and in progress are also difficult to that the increase accepted plant.” Tripoli’s sorting plant, develop the National Conser- halt. The fiscal deficit reached by different parties would be which absorbs more than 450 vatoire for Music, which will $4.9 billion in 2016 and $2 bil- approximately 35 percent. Ad- tons of waste per day, is in include several music halls for lion in the first nine months ditional legal work is required need for renovation. The foul training purposes, as well as of 2017. The gross public debt to comply with both the needs smell has intensified in the an amphitheater for concerts, widened to $79.4 billion at the of the workers and EDL’s legal past few weeks because com- with a capacity of 1,400 seats. end of November. Moody’s said framework. Asmar said that posting operations had begun The project will be built on a in the ‘Levant and North Africa the agreement includes work- with poor ventilation, making land area of 15,000 square me- Outlook’ report it released last ers that are part of NEUC’s the situation worse, according ters. The Council for Develop- month that the fiscal deficit is labor force. NEUC is in charge to Kamareddine. The dump- ment and Reconstruction will expected to decline slowly in of the Southern area. The site will be used for now for oversee the construction work. the wake of renewed public in- workers will receive their un- all incoming waste until a new The contractor for the project vestment spending in a number paid salaries for the last three landfill is developed. The land- has not been appointed yet. of sectors, which include elec- months. He said that any fill will be located between The National Conservatoire, tricity and waste management. potential agreement between the dump and Abu Ali River. which is currently located in Moody’s said in its report: EDL and MoEW on one hand, The landfill will serve Fayhaa Sin el Fil, will continue to “The passage of Lebanon’s and private service providers Union for around three years. operate. The administrative 2017 budget in October and or subcontractors on the other, “We call on the Cabinet and department, however, will be the 2018 budget consultations should consider the perma- the Council for Development moved to the new location. The are credit positive because we nent employment status of the and Reconstruction to expe- project is expected to be com- expect them to prompt debt- current non-contract workers. dite a project for the construc- pleted in three years. stabilizing reforms.” L0218-24 tion of an RDF (Refuse-Derived L0218-26 L0218-27
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LEBANON OPPORTUNITIES, FEBRUARY 2018 13 IN BRIEF MATTERS OF FACT
PROPERTY SALES Number of transactions Value ($ million) seem to compete better in the NEAR $10 BILLION North 11,533 698 market, as they have a whole The value of real estate trans- Beirut 5,275 2,368 range of cars for different actions went up 17 percent Baabda 15,424 1,880 budgets. According to Nabil compared to the year before, Kesrouan 7,509 916 Bazerji, Managing Director at according to the Real Estate Metn 8,381 1,613 G.A. Bazerji & Sons, agents of Registry. Sales totaled $9.9 South 7,917 670 Suzuki, this inclination moves billion in 2017. The number Nabatieh 6,699 254 along with the price, size, and of real estate transactions Zahle 8,502 343 quality formula that reflect the totaled 73,740, recording an Property courts 2,500 673 purchasing power of clients. increase of 15 percent. This Total 73,740 9,415 Joanna Dagher, Assistant makes the average price per Manager at Sofidal and Sidia, transaction $135,000, almost Source: Real Estate Registry distributor of Peugeot, said stable compared to the previ- that the group continuously ous year. These transactions transactions grew by 20 per- its share by 1.78 percentage adjusts its offers. Jade Ayoub, represent property registra- cent. Maarawi said that there points to 14.3 percent. Century Marketing Manager at RYMCO, tions. These sales contracts is a gap of at least two years Motor Company, distributing said in the previous year his could have been signed years between property registration Hyundai, lost market share to company was able to increase ago. Georges Maarawi, Direc- and its actual purchase. reach 12.7 percent. BUMC, dis- its sales across almost all of its tor General of the Real Estate L0218-31 tributor of Toyota and Lexus, brands. RYMCO’s strategy is to Registry, said: “People thought has also witnessed a shrinking cover all segments, and the re- that they will be affected by SMALL CARS BEHIND share and holds 12 percent. cent Datsun models introduced the tax hike. This is why we AUTO SALES INCREASE Impex, importers of Cadillac in 2017 covered a gap and posi- noticed higher registrations Sales of new cars showed a and Chevrolet, expanded their tively impacted overall perfor- in March and April and two 2.5 percent increase during share slightly to 5.8 percent. mance. Most luxury models months before the budget was 2017 when 39,863 private and This increase correlates to the did not perform well. Sales ratified by the Parliament.” commercial vehicles were reg- 12 percent growth in Chevrolet of BMWs showed a 32 percent Maarawi said that the prices istered. Sofidal Holding, the sales. Tewtel Group improved decrease, and sales of Mercedes being registered at registry of- official name of the Dagher its market position through Benz dropped by eight percent. fices are closer to reality than Hayek automobile businesses, its three brands, Ford, Land L0218-33 previous years. “Secretaries of controls an almost 27 percent Rover, and Honda. Land Rover registry offices now have to share of the car market. Its sales increased in 2017 by 63 OVER 8 MILLION compare prices of property that NATCO Company, distributing percent compared to 2016. An- AIRPORT PASSENGERS will be registered to prices of KIA, has a 19.12 percent mar- toine Boukather, Chairman of The total number of airport nearby properties. This raised ket share. Other companies the Association of Automobile passengers, including arrivals, the value of transactions.” The within the group distribute Importers, said that compact departures, and those transit- third reason is the registra- Citroën, Peugeot, Mitsubishi, cars dominate the market, ing, is estimated at 8.2 million. tion of a number of expen- Suzuki, and the Chinese brand specifically cars with prices Airport activity increased eight sive properties. The number BYD. RYMCO, dealer of Nis- below $15,000. Almost half percent last year. Tony Ghos- of transactions in Beirut went san, GMC, Infiniti, Lada, and of the companies managed to tine, Head of the Economic up 33 percent. The value of the Datsun has the second larg- increase their sales. Groups Division at Beirut Rafic Hariri property remained stable at est market share. It increased distributing different brands International Airport, said: $2.3 billion. This might be at- tributed to a slash in prices and increased sales of small apart- ments. Kesrouan and Metn saw moderate improvements in property transactions. Bro- kers witnessed better sales ac- tivity in those regions in 2017, compared to the year before, according to the Syndicate of Real Estate Brokers. Improved activity was also seen in cit- ies far from the capital, such as Zahle, where the value of
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14 LEBANON OPPORTUNITIES, FEBRUARY 2018 Provided by
“There is an increase in trips ian tourist spending increased heading to Najaf in Iraq, and by 32 percent, Kuwaiti by 28 this is one of the reasons be- percent, Saudi by 15 percent, hind the growth in number of and American spending in- passengers.” There was also creased by 11 percent. “Saudi an 11 percent increase in the and Kuwaiti tourist spending number of tourists visiting the increased by 44 percent up to country. According to the Di- October, but dropped after the rectorate of Civil Aviation, the incident,” he said. Egyptian number of daily airplanes ar- spending has dropped by 19 riving and departing from Leb- percent, and Emirati spend- anon reached its peak in July ing has also dropped by nine and August (360 flights per percent. “Egyptians were af- day). This number decreases fected by the devaluation of to less than 150 airplanes in their currency, and therefore low seasons. An average of 180 are spending at a slower pace,” flights are departing and arriv- he said. Saudi tourists repre- percent in Verdun, and 13 per- enues remained stable at $240 ing during December. sented 14 percent of the total cent in Jounieh. It dropped million. This is partly due to a L0218-34 number of spenders, followed two percent in Hamra. “The marginal drop in the volume of by Emiratis at 12 percent, and increase in Verdun is due to merchandise going in and out TOURIST TAX FREE Kuwaitis represented seven the opening of the new ABC. of the port and an eight per- SPENDING IS GROWING percent. Refund transaction Hamra is increasingly visited cent reduction in the import Tax free spending increased by numbers increased by three for restaurants and night life of vehicles. Around 6,000 pas- 5.5 percent over the last year percent last year compared to rather than as a shopping des- sengers have passed through compared to 2016, according 2016. It increased by 48 per- tination,” said Yaccoub. the port between the months of to Global Blue’s report ‘Globe cent among Syrians, 33 percent L0218-35 June and September. This con- Shopper Spending Insights among Kuwaitis, and 20 per- stitutes a 158 percent increase 2017’. The report accounts for cent among Saudis. Around 69 TRANSSHIPMENT UP compared to the year before. VAT refunds that occur at Bei- percent of spending went on FOLLOWING TWO-YEAR DIP Ships continue to grow in size rut Rafic Hariri International fashion and clothing, followed Transshipment of goods went and carry more merchandise. Airport and other borders. This by watches and jewelry at 16 up 40 percent in 2017 compared This is why the number of increase comes after a nine per- percent. Spending in depart- to the year before, according to vessels entering the port went cent drop in 2016 compared to ment stores increased by 20 statistics published by the Port down by five percent, to 1,900. 2015. Joe Yaccoub, Managing percent, followed by watches Authority of Beirut (PoB). The L0218-36 Director at Global Blue Leba- and jewelry at 5.5 percent, and past two years have seen merg- non, said: “Activity was prom- home and garden items by five ers in shipping lines because CENTRAL BANK ising in the first nine months. percent. Beirut Central Dis- of the sluggish world economy. ASSETS RISE 16 PERCENT Expectations were for double trict represented 54 percent of Giant transshipment compa- The total assets of the Central digits during this growth, but tourist spending, followed by nies like CMA, CGM, and MSC Bank (BDL) grew to $118.3 bil- the political incident that hap- Ashrafieh at 12 percent, and had, as a result, moved fewer lion at the end of 2017, rising by pened in November affected Verdun at six percent. Refund transshipped goods during the $15.9 billion or 16 percent com- the activity negatively.” Syr- transactions increased by 27 last year. This is reflected in pared with a year earlier, ac- PoB’s activity. According to cording to BDL’s data. Deposits the Beirut Container Termi- by the financial sector surged nal Consortium (BCTC), MSC over the same period by $13.3 has restarted work on routes billion, or 16 percent, to $97.5 that it had stopped in the past billion. The banks’ deposits at two years. This spiked an in- BDL include a variety of items crease in the number of trans- such as lira and dollar depos- shipments, totaling 407,000 its, reserve requirements, and Twenty-Foot Equivalent Units Certificates of Deposit (CDs). (TEUs). Total container activ- The Central Bank’s loans to ity, which includes transship- the financial sector doubled to ments, went up 14 percent, to $12.7 billion, adding $6.3 bil- 1.3 million TEUs. Despite this lion to total assets. BDL’s ex- increase, Port of Beirut rev- posure to the banking sector
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LEBANON OPPORTUNITIES, FEBRUARY 2018 15
IN BRIEF Provided by MATTERS OF FACT
increased following the finan- three percent, to $42 billion. from AZA Holding to its own cial engineering operations of Gold reserves increased by shareholders. The decline in 2016. Some banks participated 12 percent to $11.96 billion, the value of traded shares in these swap operations be- driven by the rise in the price would have been 1.5 percent yond their capacity in dollar of gold. The price of one ounce if this deal was not accounted liquidity. Last year these banks of gold rose to $1302.45 in De- for. Marwan Mikhael, Head had to secure short-term bridge cember 2017 from $1158.24 a of Research at Blominvest, loans from the Central Bank in year earlier. said that 2017 did not witness order to replenish their liquid- L0218-37 significant capital inflows as ity in dollars, a source said. investors have been attracted These banks are now offering TRADING VOLUME to US and European markets attractive interest rates on dol- DOWN ON BEIRUT BOURSE which were improving signifi- lar deposits in order to collect The daily average value of cantly. He said that although additional funds to repay the shares traded on the Beirut the government achieved some BDL bridge loans, according to Stock Exchange dropped 21 political goals in 2017, its eco- the source. The Central Bank’s percent in 2017 to $3.15 million nomic feats were not notewor- Mikhael said that the fact that securities portfolio increased compared with the previous thy. The war in Ersal on the the value of traded shares fell by $3.4 billion, or 13 percent, year. The decline was mainly eastern border with Syria also at a much slower pace than to $29.3 billion. The portfolio driven by an exceptional deal contributed to the decline in that of the drop in their volume mainly includes subscriptions on the common shares of BLOM investor confidence last year, is attributed to the financial to treasury bills which are cov- in March 2016 resulting from Mikhael said. The daily aver- disclosures of listed companies ered by CDs in lira issued by the liquidation of AZA Hold- age volume of traded stocks fell made in 2017 which revealed BDL. The CDs are sold to local ing which owned shares in the 27 percent to around 361,000 improvements in their prof- banks which prefer to lend to bank. The transaction, valued shares. If the movement of its. The BLOM Stock Index the government through the at $192.6 million, involved the BLOM shares is not factored in, increased 0.2 percent last year Central Bank. BDL’s foreign transfer of the ownership of the fall in the number of traded compared with 2016. assets grew by $1.3 billion, or nearly 20 million BLOM shares stocks would be 12 percent. L0218-38
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LEBANON OPPORTUNITIES, FEBRUARY 2018 17
LOCAL BUSINESS PEOPLE ON THE MOVE
DANY AOUAD has joined Bank of Beirut as Head of Marketing. MOHAMED CHOUCAIR, CHAIRMAN OF ECONOMIC BODIES Aouad was previously Managing Director at Impact & Echo BBDO in Kuwait. He worked earlier in advertising agencies Mohamed Choucair, Chairman of the in Dubai, Egypt, and Lebanon. Aouad was mainly involved Federation of Chambers of Commerce, in strategic brand planning and effective relationship Industry and Agriculture in Lebanon, marketing. He holds a bachelor of commerce and business was handed the chairmanship of administration from Concordia University in Canada with a Economic Bodies, succeeding Adnan major in marketing. Kassar, Chairman of Fransabank Group. Representatives from all economic sectors FADI AYOUB has been promoted to Relationship Manager confirmed their support to Choucair. Kassar said: “Choucair Corporate Banking at Fransabank from Senior Credit Officer- proved that he is a leader who is able to launch initiatives SME at the bank. Previously he was Senior Relationship and handle all the responsibilities, and support the economic Manager at Ahli International Bank. Ayoub holds a master’s bodies’ role in economic and social issues.” Choucair said: “I degree in biology from the Lebanese University, and a will put in additional efforts for better communication with bachelor’s in business administration from the Lebanese the representatives.” He said that he will maintain the American University. economic body’s role and improve its performance according to the situation and any developments by involving all ANNA MARIA CHAARAOUI has been promoted to the position of members of the private sector. Head of Research and Advisory at FFA Private Bank. Chaaraoui, who was Associate and Research Analyst at FFA, became Senior Associate in January 2017. She previously worked as Business Coordinator at Ibdaa Microfinance and Research Assistant BASSEM ASSI, GM OF ALLIANZ SNA at the United Nations Industrial Development Organization. Chaaraoui holds a bachelor of arts in economics from Saint Bassem Assi has been promoted to the Joseph University and a master’s degree in international position of General Manager of Allianz economics and development from Université Paris Dauphine. SNA (Lebanon). He was previously the insurance firm’s Chief Operating Officer. MARTINE CORTAS has been appointed Human Resources Assi’s career at Allianz extends to more Manager at Mediane, an industrial firm. Previously, she was HR than 15 years where he had a broad, Manager at Daher International Food. Cortas holds a master’s well-rounded experience in different degree in human resources management from USJ, and an HR departments. He said that Allianz SNA will continue its diploma from the Lebanese American University. strategy of profitable growth to maintain its number one position on the market while keeping its focus on customer MIREILLE KORAB ABI NASR is now Corporate Communication centricity. Assi said that they will achieve this by providing Officer at FFA Private Bank. She was Head of Business high-quality service and a full range of life and non-life Development at the bank’s subsidiary FFA Real Estate. Abi Nasr products through their multi-distribution channels. Assi previously held various corporate communications positions in holds a major in civil engineering from Ecole Supérieure local and regional real estate companies. Abi Nasr is Deputy Vice d’Ingénieurs de Beyrouth, a master’s degree in engineering President of the Real Estate Developers Association of Lebanon from Ecole Nationale des Ponts et Chaussées in France, and sits on the board of the Real Estate Brokers and Consultants and a MBA from ESA. Syndicate. She holds a bachelor of business administration degree in marketing from the American University of Beirut.
RASHA ABBAS has been promoted to Senior Consultant at JOANNA MARIA GHAWI has been appointed Head of Content Deloitte. Previously she was HR Executive at Aramex. She holds at Media World, a public relations and media firm. Previously a BBA in management from the American University of Beirut. she was Senior Portfolio Executive at MT2, a consultancy firm for telecommunications. Ghawi holds a master’s degree in KHALED ARNAOUT has been appointed Head of Internal information and communication from Université Antonine. Audit at Al Mawarid Bank. Previously he was Senior Manager at PricewaterhouseCoopers, with more than nine years of RABI MOHTAR has been appointed Dean of the Faculty of experience in providing external and internal audits. Arnaout Agricultural and Food Sciences at the American University of holds a Certified Internal Auditor certification from the Institute Beirut (AUB). He was Professor at Texas A&M Engineering of Internal Auditors, a Certified Management Accountant from Experiment Station. “I will be working with AUB colleagues on the Institute of Management Accountants, and a Certified research, education, and engagement activities that help the Public Accountant from the American Institute of Certified Arab region achieve higher securities in water, energy, and food Public Accountants. resources,” he said.
Each month we feature new executive appointments in all business sectors. If you or someone in your company would like to share with us a new management appointment or promotion, please email details to [email protected] or fax to (01) 74.90.90 and make sure to include a telephone number
LEBANON OPPORTUNITIES, FEBRUARY 2018 19
IN BRIEF NEW BORN COMPANIES
Name Software Solutions Name 1167 Kobbeh Sal and Consulting Company (2C2S) Sal Capital (Shares) LL30,000,000 / (1,000) Capital (Shares) LL30,000,000 / (30,000, Equally Divided) Directors Khalil Mohamed-Mounir Mezher (Chairman) (900), Directors Joseph Charles Zoghzoghi (Chairman), Mohamed-Mounir Khalil Mezher (50), Zakieh Elia Karam, Chafic Lucien Aouad Bassima Ali Mezher, wife of Mounir Mezher (50) Reg address Ground Floor, Rizk Building, Reg address 5th floor, Dolphin Center, Raoucheh Area, Saint Louis Street, Lot No. 33/8 Achrafieh, Beirut Lot No. 2679/6 Ras Beirut, Beirut Object General trade, import, export, Object General trade, industry, import, export, software, and electronics websites fashion design, management of restaurants, development, company representation hotels, night clubs, and tourist projects Banker BBAC Banker Banque Libano-Française Solicitor Mes Alain Harry Noujaim and Harry Edouard Noujaim Solicitor Me Wassim Nassib Mouchawrab Auditor Sabeh Elias Khalil Auditor Mohamed Hassan Ashour
Name Beirut Food For All (BFFA) Sal Name KX Sal Capital (Shares) LL30,000,000 / (20,000) Capital (Shares) LL30,000,000 / (1,000) Directors Pierre Antoine Abou-Jaber (Chairman) (100), Directors Houssameddine Samir Boubes (Chairman) (998) Dia Rafeh Abou-Chacra (100), ABS Sal (Holding) (100), Kamel Hassan Rahal (01) Levant Asset - Management Investment Violette Bahjat Mirza (01) Group Sal (Holding) (19,600) Reg address Dunes Building, Lot No. 1545/57b Shareholders Blueberry Capital Inc. Sal (Holding) (100) and 59b Mousseitbe, Beirut Reg address Park Avenue Building, Bab Idriss Area, Object General trade, import, export, management Lot No. 1334/11 Minet Hosn, Beirut of sports club, tourist projects, restaurants, Object General trade, management of restaurants, and night clubs, commercial representation hotels, night clubs, and tourist projects, Banker Al-Mawarid Bank catering services, event organization Solicitor Me Samer Hassan Hajje Banker Saradar Bank Auditor Hikmat Ismail Naufal Solicitor Me Aline Michel Khoury Auditor Daher & Partners Name Light Bulb Factory Sal Capital (Shares) LL30,000,000 / (30,000) Name Town Tractors Sal Directors Houda Gergi Jalkh, wife of Gebrael Dick (Chairman) Capital (Shares) LL30,000,000 / (1,000) (8,400), Tania Victor Daou, wife of Jean Alam (300), Directors Rabih Victor Fakhreddine (Chairman) (590) Karim Damlage (21,300) Karim Mohamed Mohamadie (400) Reg address 2nd floor, Kallot Building, Sami Solh Street, Ghanwa Mohamed Hamdoun (10) Lot No. 5389/15 Mazraa, Beirut Reg address Lot No. 150/1 Beirut Central District, Beirut Object General trade, commerce of electronics supplies, Object General trade, engineering services, contracting, software services, advertising, production, electrical, roads, construction, and tenders distribution, and sports Banker Banque Libano-Française Banker BBAC Solicitor Me Fadi Adel Jamaleddine Solicitor Me Tania Victor Daou Auditor Maroun Naoum Barakat Auditor Paul Antoine Rouhana
Name Traxion Technologies Sal Name Arab Marketing and Finance Inc. (AMFI) Sal Capital (Shares) LL30,000,000 / (30,000) Capital (Shares) LL30,000,000 / (1,000) Directors Karim Ihsan Baalbaki (Chairman) (01), Zein Hassan Directors Nina Simon Bakht, wife of Elie Halal (Chairman) (800), Balhas (7,500), Rami Saadeddine Labbane (01) Elie Maroun Halal (10), Andrew Elie Halal (90) Shareholders Mohamed-Maan Mohamed-Atef Baghdadi (01), Shareholders Anthony-Simon Elie Halal (50), Ahmad Ali Baalbaki (01), Wassim Mohamed Nathalie-Joumana Elie Halal (50) Bawab (01), BCI Holding SA (22,495) Reg address 2nd floor, Tabbara Building, Ardati Street, Reg address Lot No. 1918/32 Ras Beirut Lot No. 565/13a Ras Beirut, Beirut Object General trade, commerce of industrial equipment, Object General trade, commerce and distribution of chemical and petro-chemical products, marketing of agricultural and animal software programs, internet electronics, and products, studies, economical studies, consultancy services advertising, organization of fairs and exhibitions Banker BLOM Bank Banker Creditbank Solicitor Me Ziad Samir Chebli Solicitor Me Antoine Bechara Mir Auditor Bilal Tarhini Auditor Fares Elias Saade
LEBANON OPPORTUNITIES, FEBRUARY 2018 21
IN BRIEF NEW BORN COMPANIES
Name Zawal Sal Name Professional Technical Capital (Shares) LL90,000,000 / (9,000) Insurance Consultants (Protics) Sal Directors Antoine Sfeir (Chairman) (4,410), Isabelle Edde, wife Capital (Shares) LL30,000,000 / (3,000) of Salim Helou (4,410), Dominique Henri Edde (180) Directors Yehia Mohamed-Khair Halwani (Chairman) (2,700), Reg address Patriarche Arida Street, Lot No. 1845 Rmeil, Beirut Sania Mohamed-Khair Halwani (150), Object General trade, import, export, commerce and design Ghina Kamal Khalife (150) of handicrafts, glass, textiles, carpets, and coopers Reg address 10th floor, Hindaoui Building, Banker Bank Audi Medawar Street, Lot No. 691/16 Mousseitbe, Beirut Solicitor Me Elie Gergis Merhej Object General trade and insurance consultancy Auditor Ghaleb Bechara Azar Banker Bank Audi Solicitor Me Nader Samir Mouallem Name Tec Wadi Sal Auditor Elie Georges Abboud Capital (Shares) LL30,000,000 / (1,000) Directors Marwan Khoury (Chairman) (994), Caroline Khoury, Name Waldo Sal wife of Haykal Abboud (03), Desiree Dagher (03) Capital (Shares) LL30,000,000 / (30,000) Reg address Rayan Abdelsamad Property, Directors Nathalie Antoine Makaron (Chairman) (29,998) Lot No. 4916/13 Mazraa, Beirut Bassim Boutros Kanaan (01) Object General trade, import, export, Rami Mohamed Panayotti (01) construction, contracting, electrical Reg address Marfaa 146 Building, Allenby Street, and mechanical engineering, and commissions Lot No. 146 Marfaa, Beirut Banker Byblos Bank Object General trade, import, export, Solicitor Me Emile Elias Farage commerce, design, development, and Auditor Joe Boutros Daou marketing of software and e-electronics Banker Bankmed Name Water Nation Sal Solicitor Me Raoui Boutros Kanaan Capital (Shares) LL30,000,000 / (30,000) Auditor Jean Georges Abi-Saleh Directors Amer Ibrahim Dayeh (Chairman) (7,200), Abdelaziz Ahmad Kazouini (22,500), Yucca Sal (Holding) (300) Name Talyum Sal Reg address Freiha Building, Yucca Holding Property, Capital (Shares) LL30,000,000 / (100) Mar Mitr Street, Achrafieh, Beirut Directors Ali Ahmad Moukhaddar (Chairman) (51) Object General trade, management of entertainment, tourist, Zaher Ahmad Moukhaddar (15) water and sea projects, commercial representation Yousr Mahmoud Arzaki (04) Banker Lebanon & Gulf Bank Shareholders Ahmad Ali Moukhaddar (15) Solicitor Me Fadi Adel Jamaleddine Tarek Ali Moukhaddar (15) Auditor Crowe Horwath Professional Auditors Reg address 3rd floor, Moukhaddar Building, Khalil Sarkis Street, Name Ideation Soft Sal Lot No. 816/10 Zkak Blat, Beirut Capital (Shares) LL30,000,000 / (3,000) Object General trade, marketing, industry, tourist services, Directors Toufic Ahmad Auji (Chairman) (60), Rami Hicham and commercial representation Nsouli (1,200), Ideation Invest Sal (Holding) (1,740) Banker Fransabank Reg address Lot No. 3826/16 Wata Mousseitbe, Mousseitbe Solicitor Me Zaher Ahmad Moukhaddar Object General trade, design, maintenance, Auditor Jihad Selmane Abou-Kamel development, and engineering of software programs Banker BLOM Bank Name Huile D’olive Sal Solicitor Me Amer Zahi Kanaan Capital (Shares) LL30,000,000 / (1,000) Auditor Adel Jamil Karim Directors Charbel Fouad Akiki (Chairman) (250), Cynthia Skandar Noujaim (250), Michel Fouad Name Navi and Shweikini Shipping Company Sal Akiki (200), Elissar Moussa Saddi (200), Capital (Shares) LL30,000,000 / (3,000, Equally Divided) Elie Khalil Matar (50), Alain Khalil Matar (50) Directors Hachem Mohamed Jawad (Chairman), Reg address Alexander Fleming Street, Mar Mikhael Area, Beirut Tahsine Toufic Issa, Issam Ahmad Ghazi Choueikani Object General trade, management Reg address Louis Vuitton Building, Allenby Street, of restaurants, hotels, and night clubs Jnah Area, Lot No. 2029 Marfaa, Beirut Banker Bank Audi Object General trade, transport, shipping, and commissions Solicitor Me Ragheb Georges Haddad Banker BML Bank Auditor Georges Chafic Bassil Solicitor Me Abdelhafiz Salim Ghalaini Auditor Antoine Boutros Harfouche Information prepared in collaboration with Khalil Masri et Fils sarl
LEBANON OPPORTUNITIES, FEBRUARY 2018 23
*6=,9:;69@
is everywhere
Contents Growing the startup ecosystem 26 Telecom finally on the right track 30 Fighting cyber threats 34 GIS Solutions: Map your business 38 Social media influencers 42 The real life of Virtual Reality 46
LEBANON OPPORTUNITIES, FEBRUARY 2018 25 TECH*6=,9:;69@ IS EVERYWHERE
World Bank report Growing the startup ecosystem
he tech startup ecosystem in Beirut is growing constantly within an ‘early- T to middle-stage’ ecosystem. This continuous progress is due to the abundance of different players and the academic qualifications of the startup founders. It is also fostered by increasing investments through BDL’s Circular 331. Those findings and a number of policy recommendations were projected in a report that was released in September by the World Bank under the title ‘Tech Startup Ecosystem in Beirut’. The report is based on a survey conducted with 218 entrepreneurs between February and August 2016, and data gathered from 142 startups and 196 founders during the 2009-2015 period.
MATURING ENVIRONMENT The tech startup ecosystem was found by the authors of the report to be in an ‘early to middle stage’, which is the stage that precedes ‘maturity’. The ecosystem has witnessed rapid growth in quality and quantity during the last few years, with a growing number of startups and the development of infrastructure. The abundant investment and the “presence of talented people, with highly educated founders also Abundant made the progress possible,” according to the report. The investment and report identified the key the presence of ingredients of successful startups to be skills, finance, talented people supporting infrastructure, and connections within the have made community. The country progress possible has made good progress in most of these areas. The next step is to reach the maturity stage. A mature ecosystem should contain a very dense network of connections among players. Such an environment is healthy for the initiation of new businesses as it involves a large number of startups at all stages of development. In such an ecosystem, mentors, accelerators, and incubators are abundant, interconnected, and have the skills and experience to boost startups in order to achieve their goals.
26 LEBANON OPPORTUNITIES, FEBRUARY 2018 3PURZ!*SPJR[OPZHY[PJSL»ZLU[Y`PUº;HISLVM*VU[LU[Z»VUV\Y^LIZP[L
QUALIFIED FOUNDERS DEVELOPMENT STAGE In Beirut (leaving aside other regions), an OF BEIRUT’S STARTUP ECOSYSTEM average of 12 startups are being added to the ecosystem each year. In around 81 percent of Stage startups over the last five years, founders are Ecosystem area Nascent Advancing Mature men with an average age of 30, and 65 percent are between 25 and 34. These founders are Community highly educated, as 90 percent of them have university degrees, mostly in business, or Skills technical degrees with business. However, their professional experience does not exceed Supporting infrastructure entry-level positions, which does not help them manage their businesses efficiently. Investment These founders are creating a median of three jobs per startup. “On average, each Constraints startup has 1.8 founders and each founder has launched 1.3 startups,” the report said. Overall
INVESTORS The progress made in the ecosystem would STARTUP GROWTH IN BEIRUT, 2009-2015 not be possible without outside investors who believe in the potential of the country. The report counted 43 investors during the 100 Compound Annual Growth Rate: 24% survey period. They made 58 investments 90 in 35 startups, with the median investment 80 exceeding $100,000 per startup. Half of the investors were venture capital firms, 70 while the other half were angel investors. 60 For example, Speed@BDD invested 50 in nine different startups and Berytech in four. The report said that the value 40 of investors extends beyond the money 30 they provide, and some offer management 20 services and connections. Their contributions have helped the ecosystem 10 develop from the nascent stage to the 0 middle stage. 2009 2010 2011 2012 2013 2014 2015
JOB FUNCTIONS HIGHEST DEGREES EDUCATIONAL OF FOUNDERS* EARNED BY FOUNDERS* EXPERIENCE OF FOUNDERS*
5.34% 3.82% 17.72% 0.77% 12.90% 18.32%
Doctorate Business Professional Business 7.87% Technical Master’s Stem Bachelor’s 13.71% Both (Business & Technical) 41.22% Both (Business & Stem) Other Associate Other 40.16% High school
30.53% 50.81% 34.25% 22.58%
*At time of founding Source: World Bank
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HELPING HANDS represent another type of ‘helping hand’. by the Central Bank each year. It also uses The supporting infrastructure has improved Their number is growing, and the report some global networks, such as one made with an increasing number of accelerator found that 53 mentors offered mentorships available by the University of Pennsylvania, programs and mentors. This has been to 20 percent of startup founders on a one- and networking events like the Startup occurring over the last few years, with a to-one basis over a period of a year. On the Weekend. Other obstacles that startups face faster pace since 2015. According to the other hand, according to the report, not all are bureaucratic problems and the length report, two-thirds of accelerated startups mentors are highly qualified. of time it takes to apply for bank credit managed to get funding, while only one- and funding. third of unaccelerated startups were funded. NETWORKING In other words, startups supported by The network among startups – or what POLICY RECOMMENDATIONS accelerators are twice as likely to receive the report called the ‘community’ – is at a The expansion of connections among start- funding as those that are not. Accelerators ‘nascent stage’. It is of low density and a ups would enhance their productivity and left a positive impact on the investment side, limited number of clusters. According to growth. This is one of the report’s final but did not have “a meaningful impact in the report, this network mainly revolves recommendations. In order to take Beirut’s improving the quality of startups.” Mentors around BDL Accelerate, an event organized ecosystem to a ‘mature stage’, the World Bank suggests creating more clusters on CIRCULAR 331’S EFFECTIVENESS IN VARIOUS AREAS the domestic and international levels. This ecosystem also needs to expand practical Index education at university level. The quality of mentors needs to be taken to a higher level by absorbing international talent to share 3.5 their experience with locals and help launch 3.4 sustainable startups. For Beirut to become a mature ecosystem, founders should be more 3.3 experienced before launching their startups. 3.2 Investors have to make a better assessment of the funding they offer, and prepare for the 3.1 phase-out of Circular 331 at a certain point.
Average score (1-5) 3.0 Reported by Fouad Chehab 2.9 2.8 ON OUR WEBSITE More information is available by typing the numbers Boosting Developing Changing Fostering Providing below into the Reference Finder on our home page Startup Creation Support Systems Entrepreneurial Education Ecosystem Culture & Training Smart Money L0218-83 Tech startup ecosystem in Beirut www.opportunities.com.lb Source: World Bank
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Telecom finally on the right track High demand is opening the door for lucrative return on investments
mproving the infrastructure of will foster private investment in related FIBER-TO-THE-HOME telecommunications (telecom) is on the products and services. The anticipated Work to spread fiber optic lines, instead of I right track. This work is generating direct offers include telecom-integrated packages, copper wires, known as Fiber-to-the-Home and indirect investment opportunities. The which will include voice calls, Internet, (FTTH), has started in Beirut. GDS, a private Ministry of Telecommunications (MoT), TV programs, movies, etc. Such new offers data service provider, has been given the task the owner of all telecom networks and part open doors for the private sector to invest of starting the FTTH operation in a specific operator of some of their components, has in associated added-value services. In fact, area. Imad Abou Rached, Procurement initiated, alongside its operational arm all companies with products depending on Director at OGERO, said that the Ministry’s OGERO, plans to widen the telecom offerings the Internet will take advantage of these plan is organized according to geographic in the country. These plans will take the efforts and will be more willing to invest. locations with the estimated total clientele form of large investment in infrastructure The legal framework should be improved exceeding 400,000 subscribers. GDS, with which will be executed by private to enhance an encouraging and safe an investment estimated to reach $75 companies. At the same time, the plans investment environment. million, has started its pilot project in the
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Hamra-Verdun region as a part of its 20-plus locations for Phase I. Maroun Chammas, Executive Director at GDS, said that the pilot project was completed in two weeks, where fiber optic lines reached 110 buildings. But after reaching the building, additional tasks are still required to overcome technical problems to reach individual apartments or offices. GDS started marketing campaigns to introduce businesses and private users reached by fiber optic lines to the new connections, which have a capacity of up to 300 Mbs. A second company, Connect, will start similar operations in Achrafieh. Connect still awaits the approval of the MoT to initiate its work, said Nassif Bechara, the company’s General Manager. Once the infrastructure is laid, end-users can select from different packages customized for residential and business needs. Prices will range from residential lines of 78 Mbs, and reach 1 Gbs for business lines. Chammas said that the initial launching price for installation in the Hamra region is $99 central stations and nearby cabinets in low- prohibits financial institutions and state- including the modem, but is anticipated populated areas. According to Abou Rached, owned entities from hosting their data to increase to a market price of $280 at three companies are expected to be awarded outside the country. Two bids will be issued later stages. Gabriel Deek, Chair of the the contracts. For more remote areas, OGERO for the datacenters which use the 1+1 Internet Society, Lebanon Chapter, said will be using wireless technology to improve model. This model means that two active that the licenses of another 13 Data Service Internet connections. However, such a facilities will be built. The first facility Providers (DSPs) already enable them to project will be undertaken by OGERO itself, is planned to be located on a plot of land participate in the FTTH project, but require as private investors would not be interested owned by the MoT in Dekweneh. The MoT the approval of the MoT to go ahead in other due to the low return on investment, but selected the Erbaniyeh telecom site for the areas. He said that the expected return the actual implementation can be done by second datacenter due to convenient safety on investment would indicate how many private companies. measures in the region. The latter will be additional companies will be interested designed to be a recovery facility in case in participating in the market, especially NATIONAL CLOUD of emergency. The MoT is finalizing the with the high levels of investment capital A third investment opportunity will be technical description, aka ‘Key Performance required. As a requirement, any private opened, as the country will host cloud Indicators’ (KPIs), for the datacenters company has to lay additional fiber optic service data centers under the name with consultants. The process requires cables dedicated for use by OGERO. Private ‘National Cloud Platform’. The project will certification by the Uptime Institute, a USA- investors will be paying the government 20 cater its services to public based entity which organizes percent of their income as rental costs for the entities, private companies, and monitors datacenter fiber optic infrastructure. and individuals. The cloud The private criteria worldwide. Tenders platform would allow are anticipated to be released CONNECTIONS corporations and private end- sector will be soon. The work will be FOR THE REMOTE users to use external data invited to invest divided over four phases, Another infrastructure project related to storage instead of their own with an estimated cost of $50 Internet is known as Fiber-to-the Cabinet machines. It also allows them in telecom million per phase. The plans (FTTC). In this case, fiber optics are only to take advantage of software infrastructure indicate that the datacenters used to connect telecom central stations with and programs without the should be fed by solar power cabinets that already exist in neighborhoods. need to install them on their beside regular energy. Deek Then copper wires will connect between computers. Global cloud services already said that such a project requires the MoT cabinets and end-users, but only over a exist and are used by local companies and to allow a privately managed entity to work distance not exceeding 800 meters. Abou individuals. However, Abou Rached said on the project through PPP to enhance Rached said that new equipment will be used that businesses and individuals will benefit private trust. Fares Kobeissi, Chairman of to reduce ‘noise’ and ensure the quality of from lower pricing with the National Cloud the Association of the Lebanese Software the data transmitted through the copper Platform, compared to international services Industry, said that local cloud services would wires. The MoT will issue three bids to with similar safety criteria. Demand will be an added value to companies seeking deploy such fiber connections between be fostered by a sovereign data law which outsourced technical and cloud solutions.
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FIXED LINES resources. With increased bandwidths, Chief Executive Officer of Mobinets, a Another business opportunity for Internet providers will use their network provider of IT solutions and networks, specialized companies is opening as the to transmit TV channels, video-on-demand, said that currently Internet services lag MoT plans to deploy new switches for fixed and other multimedia material. This is the behind the expectations of business and lines with multimedia service capacities. major business model anticipated by DSPs private consumers. Internet issues include Abou Rached said that Huawei Lebanon was such as GDS and Connect, where revenue speed, pricing, and reliability. According awarded a $12 million contract last June is not limited to the renting of the deployed to Shalak, the bureaucratic structure of by the MoT to replace the current switches fiber optics, but also in offering added-value OGERO is an obstacle to follow up with with two new IP Multimedia Core Network services. Potential fiber optic providers technical transformation and market Subsystems (IMS). These IMS are already negotiating needs. The MoT and OGERO have to cope switches enable OGERO to with local and international in terms of fast-paced decision making provide users with additional OGERO has satellite TV companies to to compensate for the lost technical and services, including TV and bring this service to their economic opportunities, according to video. The starting date to cope with subscribers in order to fully Shalak. Different PPP models would enable is set to be mid-December digitalization utilize the expected high- potential private investors to manage 2017. OGERO has recently speed connections. Abou related projects, with the government been unable to respond to standards Rached said that OGERO having only a supervisory role within the approximately 100,000 new also seeks to improve board. Chammas said that the Central line requests in different central office connections to Bank’s Circular 331 would have additional locations. The present bid is the first of a enhance the Internet of Things (IoT) which positive impact on content-generating start- three-phase process that is necessary to is essential for application developers and ups, but that two additional years are complete the project. The results of the users. Pilot projects were addressed to required to better quantify its effect within bids for the two additional phases will be test several IoTs, such as sensors that the economy. According to Deek, the market announced at later stages. identify the quality of fruits in Kefraya would benefit more from the liberalization and utility smart meters in Beit Misk. of state-owned infrastructure, and when PHASE TWO POTENTIALS An application for Smart Parking is venture financing is more directed toward More investment and business being tested in specified locations within small-budget start-ups. opportunities are yet to come. According Achrafieh, allowing drivers to find the to Kobeissi, fiber optic connections are just closest parking lots. Reported by Samer Rasbey the start and the telecoms sector can be an economy enabler. Kareem Safieddine, CEO ISSUES TO BE RESOLVED ON OUR WEBSITE of Cinemoz, which provides Arabic movie The government seems keen, according to More information is available by typing the numbers and video content, said that there are high- officials, to enhance telecom infrastructure below into the Reference Finder on our home page consumption rates for multimedia content, and offer better services. A Cabinet decision L0218-73 How Internet access can boost locally and regionally. Any projected transferred $100 million to the MoT just the economy and social equality improvement in Internet bandwidth would before the ratification of the 2017 budget by L0218-74 Projecting the economic enhance this activity. Kobeissi said that high the Parliament. More funds were earmarked impact of the Internet of Things bandwidth connections and local hosting for telecom infrastructure in that budget. L0218-75 Five ways technology would encourage foreign direct investment This was overdue as the telecom sector has can help the economy and having their businesses run locally, been lagging behind in terms of renewal as well as making use of talented human or adding new technologies. Labib Shalak, www.opportunities.com.lb
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TECH*6=,9:;69@ IS EVERYWHERE Fighting cyber threats Cybercrimes can cost a company money, time, valuable data, and reputation. But protective and response plans do exist to alleviate the risks
onnecting to the Internet is an the direct damages caused by cybercrimes. It dollars and personal records are lost. The unavoidable necessity, but also a also results in the disruption of a company’s early hackers were amateurs who used C source of cybercrime risks. Companies activity. Cyber security is not the duty of to do it for fun. Hacking has now become have no option but to accept the threat the IT department alone, the entire staff highly sophisticated. It is often carried out and take the required protective measures. of a company should be involved. Efforts by professional gangs and sometimes it is Tony Feghali, Managing Partner at POTECH are required at the public level as well. state sponsored. It has therefore become Consulting, which provides cyber security The country needs a national Computer harder to catch a professional hacker. solutions, said: “Businesses cannot avoid Emergency Response Team (CERT) and the It is easy for a hacker to pretend to be accessing the Cloud, using Internet of ratification of the electronic transaction law, somebody else. In this way, the attacker Things (IoT), or giving employees wireless which is still pending in Parliament. One of can access the victims’ systems and use Internet connection. They have to adopt the means to alleviate the damages resulting their credentials and privileges. Assaults all these new technologies.” But people are from cyberattacks is insurance. However, have become sophisticated. That’s why often not conscious of how exposed they are local cyber insurance is still in its infancy. cyber security is a continuous process that to cyber risks, until they are victims of them. needs to be always enhanced and tested. Awareness is crucial to persuade business LEGITIMATE CONCERN Feghali said: “A business can’t be sure that leaders to shield their companies from There are genuine reasons for worrying it is fully secure. It is up to the owners of these hazards. Hackers attack Information about exposure to cyber threats. IT and the company to decide the level of security Technology (IT) systems through diverse cyber security consultant Jacques Bakaev that is acceptable for them. The job of the means, such as emails, social media, and said: “Cyber risk is everywhere, people are consultants is to provide the tools to achieve smartphones. Cybercriminals can also only aware of the tip of the iceberg. It is a the adequate level of security.” Attacks attack non-IT devices and items connected matter of time before one becomes a victim may also come from ‘social engineering’. to the Internet. The harm is not confined to of a cyberattack.” Every day millions of Social engineers, in the context of cyber
34 LEBANON OPPORTUNITIES, FEBRUARY 2018 3PURZ!*SPJR[OPZHY[PJSL»ZLU[Y`PUº;HISLVM*VU[LU[Z»VUV\Y^LIZP[L security, are hackers who target people instead of the network in order to infiltrate the IT system. This involves psychological manipulation of people to have them deliver sensitive information, which will be used for criminal purposes. According to Feghali, IT people should even refrain from publishing sensitive or detailed information about their professional experience on LinkedIn, as they could be used by hackers to infiltrate the system. Cyber threats do not come only from the outside. Feghali said that internal cyber crime is much more painful, and it is easier to carry out since the user’s identity is authenticated by the system.
A WHOLE WORLD OF RISKS Cyberattacks come through various sources. Emails, smartphones, and IoT systems can be targeted. Businesses can be victims of trick employees and steal money. All these COLLECTIVE RESPONSIBILITY ransomware, which prevents users from crimes are committed by organized gangs Fighting cybercrimes is everyone’s accessing their data until they pay a ransom which may include people with legal and responsibility in the company. Awareness to the hacker. Ransomware used to block language knowledge. They are skilled in should be at all levels, and everybody must only the operating system but it is evolving, exploiting human flaws in order to attain abide by security policies. The IT people are as ‘crypters’ can now encrypt all data on a their criminal goals. Most of the time, BEC not the only ones to blame for cyberattacks. computer. A crypter is a software program hackers first identify the target through According to Bakaev, companies should often used by cybercriminals to hide their social media, such as Facebook or LinkedIn, invest in cyber security and must not be malware and make it undetectable to or when they meet people in deterred from doing so for anti-virus systems. Hackers also target an event and take their email cost considerations. Some smartphones by sending fake messages that address. They usually target It is a matter of studies have shown that appear to be coming from innocuous sources, key executives like finance investment in cyber security even from the victim’s own contacts. Stealing managers and CEOs. After time before one should represent 15 to 20 money through smartphones is done in two building trust with these becomes a victim percent of the overall ways, either through money transfers, or people they send spyware investment in IT. Feghali said through inciting the victim to call a fake to their computers, usually of a cyberattack that if a business invests $1 premium-rate telephone number in order under the guise of a link. million in security devices, to steal purchased credit from a prepaid They infiltrate the system a single breach, such as mobile phone. The impact of cybercrime and monitor the communication between exempting a CEO from security restrictions, is not confined to financial matters. It managers and employees. A hacker, for could make all this investment useless. could hit physical things, like in the case of instance, may pretend to be the CEO and Assessment of cyber security risks should the IoT. Hacking is prevalent in Internet- send a money transfer order by email to involve the IT department, the owners connected cars and locks. Cybercrime can an employee. This is called the ‘executive of the business, and the compliance and also attack Internet-linked pacemakers. scam’ and it is the most frequent case of BEC legal department. This could be lethal if a criminal decides to incidents locally, according to Lt. Ayman kill somebody by accessing the pacemaker’s Tajeddine, assistant to the head of the PROTECTIVE MEASURES software. Cryptocurrencies, such as bitcoin, Anti-Cybercrime and Intellectual Property A company must take various measures at can also cause big problems because they are Rights Bureau of the Internal Security all levels to protect itself from cyberattacks. not traceable at present. Bitcoins are not Forces (ISF). The second most frequent case The data inflow and outflow must be verified permitted in the local financial market, but a is when local companies are dealing with to avoid the infiltration of malicious code. local buyer could be tempted to use them for foreign suppliers. Hackers monitor the email Bakaev said that regular backup of computer outside purchases. communications between the two parties data is badly needed to protect companies. and when they spot a big deal they jump into A study must be carried out to indicate EMAIL OUTBREAK action. They use elaborate schemes that the data flow that should be permitted, ‘Business Email Compromise’ (BEC) is a make the local company eventually transfer as it is not enough to set traffic filtering growing global threat that is causing annual money to the hackers’ own account while rules. Bakaev said that medium and large losses of billions of dollars worldwide. A thinking it is transferring the money to the companies should create an information BEC occurs when a hacker gains undue supplier. The damage of an attack is not only security management system. Banks are access to an email account in a company and confined to losing clients, money, and data, nearly the only local institutions that are pretends to be the account holder in order to this may cause reputation damage. applying this system, in compliance with
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Central Bank regulations. They are required to appoint an information security officer. Feghali said: “We must have a secure-by- design information system at all levels, from the cable to the application, the connection, the Cloud, etc.” It is not enough to take security measures at the level of the applications by restricting the user’s access to certain modules. It is true that usually the applications are more vulnerable because developers often do not have an acute sense of security, as their main concern is productivity and that the feature works, according to Feghali. “We must have layers of defense which means that if the hacker crosses the first layer, they will not be able scenarios of a potential cyberattack and the campaigns that could be launched following to reach the system,” he said. Monitoring corresponding actions to be taken. A response a cyberattack. Intellectual property losses also remains a crucial issue. Identity plan should help businesses to quickly take and related defense expenses, as well as and access management should be tied the right measures and prevent disruption cyber extortion (ransom) and third-party cryptographically to a person’s information. of their operations as much as possible. In costs, are also covered. So far, insurers The Internet’s protocols were designed in a case of an incident, a company should engage don’t give enough coverage limits due to certain way in order to protect the privacy the security breach response team. Feghali a conservative attitude and this does not and identity of users, but this anonymity said that most local companies do not have encourage potential clients to buy policies. allows hackers to commit their crimes more response teams. A security and recovery The evolution of cyber insurance is also easily. Tajeddine said that system should be put in place slow due to lack of statistical data. Shortage employees must verify the at the initial phases. One of data leads to a vicious circle in cyber email address to see if there Cyber insurance problem is that sometimes a insurance dissemination, Abi Assaad said. are any changes in one of its security system may conflict Actuarial studies are not developed enough letters and to be cautious is still in with IT development work. for this matter. Moreover, many people still about generic emails such its infancy Developers may neglect don’t understand what is covered and what as those addressed to ‘dear security issues just to have an is not covered by the policies. Another factor customer’. They ought to efficient system. A response that explains the weak demand for cyber also watch out for messages that contain plan is also needed at the country level. There insurance policies is that their cost is still grammatical mistakes as most companies is no national CERT to face a big cyberattack. very high because the damage could be edit their correspondence. Messages that “Why don’t ministries cooperate and meet substantial. When insurers assess cyber risk demand prompt actions are most often with Internet Service Providers (ISPs) to before pricing a policy, they take into account suspect, as well as attachments and links. have an early alarm system to detect an the existence of a backup system, security Before transferring money, double-checking attack?” Feghali said. tests, and network security firewalls. There is should be done in parallel through a phone no fixed rate like in the case of cars. The cost call made by the employees themselves. INSURING CYBER RISK of a cyber insurance policy depends on the One frequent case is when bank employees Cyber risks, like other hazards, can be type of the work of the insured company, the receive a transfer order by mail from a insured. But this kind of insurance is still size of its workforce, the security measures client. Minutes later, they receive a phone in its infancy in the country. There are it takes, and the type of insured data. Most call from the presumed client to confirm no specific standard insurance policies for importantly, a response plan must exist. his order. Employees feel safe and execute cyberattacks on the market, but rather the order, which is in fact coming from a endorsements to existing policies. Jaoudat Reported by Shikrallah Nakhoul dishonest person. Skype calls would be a Abi Assaad, Technical Manager at good solution in this case. This is called Cumberland Insurance and Reinsurance Co., ON OUR WEBSITE ‘phishing’. It involves obtaining private said: “This kind of coverage is not enough More information is available by typing the numbers information by using deception, especially because the developments in cybercrime below into the Reference Finder on our home page through fake emails claiming to come from necessitate a change in insurance policies, L0218-113 Cybercrime-email reliable sources. which are currently very rigid.” But the compromise-BDL-ABL-ISF-2016 cyber liability insurance policy is evolving, L0218-114 Blockchain technology- RESPONSE PLAN and gaps are being filled, he said. Cyber Tarek Bohsali-2016 What to do in case of a breach? Besides risk insurance covers the losses derived L0218-115 Cyber security organizations building a defense system to protect oneself, from the interruption of the business and and efforts-TRA-2010 a business should prepare a response plan the increased cost as the company has to L0218-116 Contact information to deal with an attack when it happens. The temporarily outsource some operations. It plan must include forecasts of the different also covers the expenses of public relations www.opportunities.com.lb
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GIS solutions Map your business Location data helps businesses understand their customer base
usinesses that target direct corporate HOW GIS CAN or B-to-C (Business-to-Business or Business- or individual customers have always HELP BUSINESSES to-Customer) companies have an interest in B been keen to study their location A good location is at the top of the investor’s using intelligent maps to make their product before moving in. Established businesses mindset whenever taking a business accessible to the most ideal customers. GIS can also make sure they make the best of decision. GIS can help investors in this mapping can answer most of their questions. their location. Now, all of these location endeavor. Business Intelligence (BI) systems The first benefit of the GIS tools is visualizing concerns benefit from advanced ‘mapping’ provide investors with information about through digital maps where the customers tools. These are smart, intelligent maps what sectors to choose, which product, when, are concentrated. “Viewing information on that give investors insights about what’s and how. But “GIS is the science of where,” map makes difference. A picture is worth happening within an area. Business data said Mira Hindawi, CEO at GeoMarkets, an 1,000 words,” said Hindawi. On maps is then integrated within a Geographic affiliation of InfoPro Group, which provides customers can see, for instance, whether Information System (GIS). Such tools are GIS intelligence solutions. GIS systems specific areas are well serviced or not. For relatively new to the local market but provide companies with answers about their example, if a lot of clients are traveling a demand is growing rapidly, especially from customers, demographics, competitors, un- long distance to visit a bank’s branch, this banks, real estate developers, retailers, served areas, and where there is need for means there is shortage in this area, and and companies performing marketing a new outlet. Investors are eager to know the bank should open a new branch. When a campaigns. Maps are becoming crucial for not only the number of people in their company sees that sales in a specific territory making the right decisions and reducing ‘catchment area’, but their psychographics are better than in other areas, then it can costs. A few specialized companies are (behavior factors), and habits in their decide to shift sales people from one place providing customized GIS maps according location. GIS combines such useful data, to another to achieve more sales revenue. to individual needs. These maps include then analyzes and integrates them within a Efficiency and turnover can be increased qualitative and quantitative information customized platform. The output is a smart, by restructuring sales territories according about the demographics, competitors, and intelligent map that can deliver insights into to accessibility and optimal customer companies spread in a specific area. what is happening within an area. All B-to-B distribution. Through digital maps, decision
38 LEBANON OPPORTUNITIES, FEBRUARY 2018 3PURZ!*SPJR[OPZHY[PJSL»ZLU[Y`PUº;HISLVM*VU[LU[Z»VUV\Y^LIZP[L makers can automatically detect the sales are concentrated, and the marketing densities and demographic characteristics department can target its campaign instead in a specific area. The maps may include of setting random marketing strategies, and the quality and quantity of competitors. putting money in the wrong place. Viewing They can also include the facilities each data on one map is much more efficient than area benefits from. For instance, real estate information split on Excel sheets. “GIS is developers are interested to see what schools, the glue that binds the data together,” said hospitals, and entertainment is available in a Hindawi. specific area when taking a decision to build residential apartments. Mapping data is also MAIN PLAYERS crucial for marketing campaigns. Maps show A few companies currently provide GIS companies on which billboards they should solutions locally, such as GeoMarkets, Geo post ads. “GIS solutions can view traffic Vision, GeoSpatialMinds (GSM), Arabia patterns, and the more traffic we have the GIS, and Khatib & Alami Engineering Com- more billboard views we get,” said Hindawi. pany. GSM, founded by Abdallah Bsaibis in 2012, provides networking solutions SAVING MONEY for SMEs, communication solutions to the GIS assists companies in making correct government, public security, transpor- implementation decisions: “Selecting the tation, and enterprise. “We develop, for wrong location costs a lot of money,” Hindawi instance, customized solutions to create said. Once established, GIS mobile applications for data helps companies save money collection,” said Bsaibis. Ge- in their market intelligence GIS can lead to oVision, established in 1998, Banks and ATMs in one Achrafieh district tasks. According to Hindawi, has delved into commercial good implementations can 10-30 percent vehicle tracking and logistics from scratch and are conceived to be user- result in savings of 10-30 reduction in routing. It provides applica- friendly. Hindawi said that the data InfoPro percent in operational tions for online and offline has gathered is Geomarket’s added value. expenses through reduction operational fleet management, dispatch InfoPro Research has conducted dozens of in transportation costs and expenses centers, automatic routing, studies and surveys for different sectors, the staff’s time. It saves and navigation applications. including real estate through its bi-annual money in customer service GeoMarkets, founded last ‘Properties’ magazine. “This data gives us a tasks and scheduling. GIS also saves money by year by InfoPro Group, helps businesses use unique, deep insight on the location aspect.” improving communication between different data and map technologies to build location- Hindawi said that Geomarkets has two departments, such as sales and marketing. aware strategies. Geomarkets provides GIS- ready-to-use products. The first is in part- For instance, data on maps can show where customized solutions that are developed nership with 5Index for geo-mapping all the business institutions. Around 40,000 loca- tions for institutions were integrated within a platform. The second is a specific solution for banks. Most GIS solutions providers can offer their services to several utilities, such as electricity service providers, who want to know where the power outages occur and how they can respond. Police forces can also benefit from such solutions to know what crimes are the most frequent and where, and to plan the relocation of their forces. In- stitutions involved in phone communication networks, road networks, transportation, and infrastructure projects can also benefit from such solutions. According to Bsaibis, what is important in the GIS solution is the analysis done with the data, and what kind of information you can get from the data. “The more we analyze the more we get bet- ter results,” said Bsaibis. For instance, data provided could be analyzed from different aspects for managers, sales, and marketing teams. Hindawi said: “Within a few years Food and beverage and educational institutions in Ras Beirut GIS solutions will be a must for business.”
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GROWING DEMAND Two decades ago, explaining GIS for end business users was very difficult, because it was too technical and expensive, according to Hindawi. The process was also slow because data was not really available. But nowadays GIS has become user friendly, affordable for many users, and data is more available. “The techniques are not the challenge anymore, but rather how to understand the business needs and recommend solutions for them,” she said. This growing demand is also due to the increasing awareness from companies. Most demand comes from banks, real estate, retail, and industrial companies who want to expand or take marketing decisions. Specific needs from such businesses include marketing campaigns – where the products and services should be promoted. Bsaibis said that his company is witnessing demand from non-governmental organizations (NGOs) that are requesting data about Syrian refugees, their location, numbers, and what “GIS solutions gave BLC powerful insight helping delivery companies manage their products they are receiving. He said that about the market competition, the coverage, drivers.” The platform links businesses with the government also demands solutions potential, and market share,” said Younes. dispatching companies. Most companies related to water and electricity utilities, and The provided solution gave the bank have a problem with client addresses, “so garbage. Several banks are approaching information about other nearby banks and we digitized addresses, gave them numerical GIS providers to give them solutions. Elias ATMs. It even showed them the real usage codes instead of giving the whole address,” Younes, Head of Business Support, Retail of these ATMs through the quantitative and said El Koury. This platform was created for Banking Group at BLC Bank, said: “Banks qualitative studies conducted for a specific businesses that use addresses for delivery, are concerned to come up with successful region. “The bank through this solution was such as restaurants, flower shops, and branches, and GIS solutions are crucial for able to take an accurate decision whether others. More than eight delivery companies taking right decisions.” Banks ask for details to open the branch in a specific region are included on the platform currently. This related to the type of nearby companies, or not,” said Younes. It also suggested platform allows for the signing of orders, whether they are large, small, or medium, whether the bank should focus more on and tracking their execution. For example, and their payrolls. They also want to know the agriculture sector, innovation, retail, or when sending flowers to a patient in a the competitors in a specific region, to what industry. The maps helped BLC analyze the hospital, the sender can track the products extent the region is served, the potential, and overall situation of the bank, and where the sent through the platform, and a message opportunities. After establishing a branch, opportunities were. The bank benefited from will be sent to the sender when the flowers the sales teams want data which can support the business directory product provided are delivered. Eddress automates the whole them in directing their sales activity toward by Geomarkets that includes more than process from the time the customer places the right companies. “GIS solutions can 33,000 registered companies, in addition the order to the second he receives it. The provide the bank with all this data on maps,” to un-registered ones. “This data was transportation is outsourced to the logistics said Younes. There is also demand from real essential for the sales team, because it company instantly, which ensures delivery estate agents because they know that home included information covering 65 percent of of the products within the same day based on values are determined primarily by location. companies, and which company was dealing the customer’s need. Bsaibis said that they are currently providing with which bank, as well as the population software GIS solutions to three real estate distribution,” said Younes. Reported by Rania Ghanem clients and one bank. Some entrepreneurs used GIS to create solutions that facilitate CASE STUDY 2: EDDRESS ON OUR WEBSITE delivery of products. The cost of a GIS solution Eddress, a software developer, started as More information is available by typing the numbers depends on the data and analysis required, an address system which allows people below into the Reference Finder on our home page but according to Bsaibis it could start from to create instant e-addresses, simplifying L0218-127 Geomarkets presentation $5,000 and go up to $200,000. location sharing, online purchases, and L0218-128 Eddress presentation product delivery. Karim El-Khoury, L0218-129 BLC presentation CASE STUDY 1: BLC BANK Business Developer of Eddress, said: “As L0218-130 Implementing GIS in Lebanon Whenever BLC opens a branch it studies digitizing addresses became popular through L0218-131 Contact information the demographics, population size, and Google Maps, we shifted our business and the companies available in each location. created a platform for courier services, www.opportunities.com.lb
LEBANON OPPORTUNITIES, FEBRUARY 2018 41 TECH*6=,9:;69@ IS EVERYWHERE
Social media influencers Brand ambassadors A human touch to reach the target audience
he role of ‘social influencers’ has the brand’s qualities. Companies are also clothing brands and accessories, along with become increasingly powerful. taking into consideration several metrics children’s products such as shampoos and T These are independent social media when approaching influencers rather than body lotion. According to Rita Dahdah, a commentators or bloggers with thousands their number of followers. They are mainly lifestyle blogger who also became a social of followers who view their feeds regularly. looking at their ability to interact with their influencer, influencers have the advantage That’s why companies profit from audience, their credibility, and how much of tracking a niche population, appealing to social influencers’ audience to promote their persona fits the brand. them, shaping opinions, and setting trends. their brands. Locally, the trend has been “Influencers are neither like billboards, nor gathering pace, though at a smaller scale BRAND AMBASSADORS like an ad page in a magazine. We create so far compared to the rest of the world. Social influencers have developed in many content and integrate it to real life, so people Companies are partnering with local social ways. Some are mere commentators, feel attracted to do similar things,” she influencers to recommend their products others are celebrities, TV presenters, etc. said. Influencers are increasingly selected across most platforms, including Instagram, They are active in lifestyle, fashion, food, by companies to showcase their brands, YouTube, and personal blogs. Companies politics, social life, and many other areas. more than broadcasting corporate messages. are setting additional budgets annually for Jad Hadid is an active influencer who was “We are brand ambassadors,” said Brahms influencers. Due to this increasing demand, a reputed model. He now promotes brands Chouity, who runs the DaddyFoody pages, influencers are being more selective in related to sport cars, clothes, and watches, which are dedicated to food and beverages. choosing the brands that they work with, among others. Christina Karam, another According to Chouity, influencers are so they can convince their audience of influencer who was a TV presenter, promotes becoming much more effective than any
42 LEBANON OPPORTUNITIES, FEBRUARY 2018 3PURZ!*SPJR[OPZHY[PJSL»ZLU[Y`PUº;HISLVM*VU[LU[Z»VUV\Y^LIZP[L other advertising tool. “The reason is that people are spending most of their time on their phones, and social media is the most effective way to reach them,” he said. Overall, influencers are witnessing high demand from brands. Chouity said that he is fully booked three months in advance. “I am obliged to refuse some collaborations, although I am so picky in choosing the brand,” he said.
A GOOD INFLUENCER Not any blogger can be an influencer. Several characteristics are crucial for being a sought-after influencer. According to Chouity, a good influencer should be a mix of authenticity and creativity. “As an influencer I am required to create content which attracts people,” he said. An influencer is not like an actor, who lends his image as a brand ambassador and shoots TV ads to promote a product (even though he might not like it at all). A social influencer should be honest about everything he puts out, including lead to losing followers. Dahdah has been has promoted brands like Swarovski, content and statements. “The more honest studying the behavior of her followers on Neutrogena, and L’Oréal. Karam people are the easier they go to the heart,” Facebook, Instagram, and Snapchat for promoted Samsung, Gap, and Johnson said Hadid. Credibility is vital. Karam said: seven years. “I know who they are, how they & Johnson. DaddyFoody has promoted “Influencers should not work with a brand think, and what they like. Being ethical several restaurants like Wood Bees and just for money. They should work with about what you choose is important,” Steak Bar Sushi, as well as Dewar’s and brands that they believe in.” Influencers said Dahdah. Oralgen (a teeth-whitening system). The are also people who develop a high level way influencers endorse the brand differs of emotional intelligence, and are able to FORMATS from one to another. According to Chouity, listen to their audience’s needs. Abbas Sibai, One of the features that characterizes influencers should promote the brand in an co-founder of the broad Live Love Lebanon how social influencers promote brands, innovative way, otherwise they will not differ campaign, which has reached more than which differs from traditional advertising from billboards. 26 million viewers, said that they started schemes, is a new dimension that can be their work as four volunteers focusing on called ‘storytelling’. Influencers provide a ADVERTISERS’ OUTLOOK national causes, and now they number true story and not a specific ad message. “We are part of the social media, and we can’t around 300. In 2014, their work was adopted For instance, when advertising for Johnson ignore advertising through it anymore,” said by the Ministry of Tourism and Live Love shampoo, Karam posts a video while Jade Ayoub, Marketing Manager at Rymco, Lebanon became the official showering her baby, showing exclusive agent for Nissan and other car campaign of the nation. “We that she believes in the brand manufacturers. Around 10-15 percent of listen to our crowd, and see Influencers and uses it. “The difference Rymco’s marketing budget goes to social what is happening in the from a paid ad is that we media, but the influencers’ share of the country and the activities are being more are showing a real life story, social media ad budget is still limited. Ayoub taking place, and based on selective in not bringing a baby that may said that the budget differs depending on it we launch our campaigns not be mine to promote the the type of car and who it is targeting. For such as Live Love Beirut, choosing the brand,” said Karam. Hadid instance, half of the marketing budget goes and Live Love Volunteer to brands that worked locally on promoting to social media when promoting Nissan clean the sea,” said Sibai. several brands including Kicks, because it targets the youth who are For influencers, selecting represent them Nike, Reebok, and Converse active on social media. This budget drops an appropriate brand is shoes, as well as Rymco’s to 20 percent when advertising a car that also crucial for sustainable vehicles. Hadid said: “If I targets people aged above 50 years of age. success. The brand they are promoting want to promote a motorcycle, the message Rymco recently awarded Miss Lebanon, should reflect their image, and suit should reflect that I am really using it, Perla El-Helou, an Infiniti sport car. She their personality. “We get feedback from otherwise the advertisement will lose its will be posting photos and videos on her followers, and this helps in knowing what objective.” Sometimes international brands Instagram and other accounts while driving they want to see and know,” said Karam. contact Hadid from outside the country her car, which is great promotion for the Pushing obviously promotional posts will for promotional campaigns. Dahdah brand. Others follow different strategies.
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Christian Abdel Nour, Brand Activation videos posted by influencers are part of their even if there is no prior agreement between Specialist at Roadster Diner, said that the daily life. For instance, it is not recommended them. Sometimes influencers write for free company has never approached a social to post a photo of a fashionable dress in the about brands. This happens when they are influencer, although many influencers have morning, it should be done in the evening. invited to specific restaurant or events. talked and posted about the restaurant Karam said that brands usually ask about on their own initiative. “We usually send her followers and their gender, age, income LIVE VIDEOS influencers our new items to taste,” he said. level, and interests. “These insights help Micro influencers followed by less than 10,000 Roadster has around 300,000 followers on brands in knowing whether the followers people are becoming powerful. Their success Facebook and 100,000 on Instagram. “We are actual people, not fake numbers, and depends on the type of people following have our own pages on social media, and this whether they are the people whom they are them. An influencer specialized in high-end is enough for us currently for promoting our targeting,” said Karam. luxury products does not have to have tens brand. We didn’t find a big need to pay for of thousands of followers. Influencers use social influencers to write about our brand,” INFLUENCERS’ FEES all kinds of content to promote a brand, said Abdel Nour. The budgets set for influencers differ but according to Dahdah, the future could depending on each case, and on each player. be moving toward live broadcast shooting SUCCESSFUL METRICS According to Ayoub, up to $500 could be because people want to see reality. This Like any advertising activity, companies charged for an original video. Influencers follows the television trend where reality TV have to get some kind of metrics to calculate set their fees depending on the time and shows are flourishing. “Influencers should their return on investment. In order to effort they put in for the brand. Posting a also be in tune with how the market is do that, they look at several pieces of photo on DaddyFoody’s page costs $500, changing, and understand how the trends are data before approaching a social influencer. but this price can increase to $1,000 if the evolving,” said Dahdah. To keep succeeding “The number of followers and likes is photo requires additional effort, such as they should keep researching and studying the last aspect we look at, creating innovative stories. the market to see what social network is because the likes may be For instance, the post for trendy and what followers want. fake,” said Ayoub. Instead, The difference Wood Bees was a photo of there is software that shows Choueity sitting on a table Reported by Rania Ghanem companies how people from a regular in the middle of the street interact with the influencers’ ad is that to eat the meal. “It took ON OUR WEBSITE pages. Rymco deals with me the whole day to shoot More information is available by typing the numbers OMD, a third-party digital influencers are the photo and do the whole below into the Reference Finder on our home page agency, which checks the showing a real- process.” Hadid’s fees for L0218-122 Arab Social Media Report credibility of the influencer, his posts start from $700 L0218-123 Influence marketing their followers, and whether life story for a single operation, and L0218-124 Top Lebanese social they are the appropriate could reach up to $30,000 if influencers to follow person to promote the brand. the campaign takes one year L0218-125 Influencers are not According to Ayoub, influencers should and requires a lot of shooting of photos and reshaping the media landscape be local and targeting the local audience. videos. Influencers also sometimes receive L0218-126 Contact Information Choosing the right time for each post is also a product as gift, so companies in this way important to let people feel that the photos or push influencers to talk about their brand www.opportunities.com.lb
LEBANON OPPORTUNITIES, FEBRUARY 2018 45 TECH*6=,9:;69@ IS EVERYWHERE
The real life of Virtual Reality Brands tapping VR’s potential to enhance consumer experiences – and their strategy
brand building. You put the goggles on, and you are into that world,” said Mark Daou, Managing Partner at the public relations agency RPR. Daou said that the more control a brand gives to consumers, the more loyalty it receives. Customers are interested to see how a dress looks on them and do not care how it looks on models. “What we are doing is delivering the brand literally into the hands of the consumer,” Daou said. According to Mohamed El Omari, Operations Director and co-founder of Limitless Lab, AR is a sales tool that allows customers to have interactive exchanges. Limitless Lab is a company that uses computer technology and design to develop digital communication and interactive solutions for brands and ad agencies. International studies have shown that many consumers prefer to shop at stores that use AR and are likely to pay more for a product if they can experience it through this technology. “Some consumers don’t want ads to be thrown at them, they prefer rands have a hard time catching up with technology to enhance to be involved and to be part of the experience,” Omari said. Real marketing strategy. That’s because the ‘latest technology’ estate, tourism, and cars are now a major market for AR technology. B keeps changing at a fast pace. One of the newest methods AR applications include in-vehicle heads-up displays on camera views. involves using Augmented Reality (AR) and Virtual Reality (VR). As In-vehicle heads-up displays are transparent displays put in front of its name indicates, AR ‘augments’ and enhances the user’s experience drivers that show them data without requiring them to lose focus of the real world. For example, an AR app on a smartphone allows on driving. People use VR technology for virtual trials of furniture, shoppers looking at a certain product through their smartphone clothes, or accessories to see which assortments fit them best. They camera to see additional information about the product on their can also explore holiday destinations and experience concerts. People screen. Technicians looking at a machine through their smartphone could use Virtual Reality technology to look at properties such as can see the specifications or the steps they should follow to fix the hotel rooms or houses to rent or buy. But, despite all their benefits, machine. AR, in short, adds contextual data while a user is observing these technologies fall short of a genuine, real experience. They a real product. This additional data is obtained through smartphones, are incentives for consumers to call them to further action. Daou tablets, Head-Mounted Displays (HMDs), and smart glasses. The said: “VR does not make you taste the burger even if you like the added data could be in the form of graphics, sounds, images, videos, image.” This technology remains open to improvements and could be or GPS data. In virtual reality, users are immersed in a completely optimized based on the feedback given by consumers. reconstructed virtual world and don’t see the actual physical space around them. People, for example, could enjoy ‘tours’ in a 3-D-virtual HIGH-TECH DEVICES version of a museum by using goggles, while sitting comfortably on Many devices are used to enhance user consumer experience their couch. The use of VR and AR is spreading in a lot of economic through AR and VR technologies. Holograms are one of them. They sectors in advanced countries. These technologies are also making are starting to pop up in few places on the local market. Omari said: inroads in the local market as people are becoming savvier in the “The beauty of holograms is that people see the solution, not the digital field, especially the younger generations. The fact that these technology behind it. We mix the hologram with the event and the technical tools do not require large budgets is also contributing to space, and that’s why it is immersive.” But the lead time to execute their expansion. an ad through a hologram could take up to six months due to lack of advanced technology locally. Digital 2-D screens are more suitable POWERFUL MARKETING TOOLS and more flexible than holograms. Developments, at the global level, In business applications, virtual reality allows brands to show in screen and projection technologies are making big changes in how products to customers beyond their direct visual senses. “There brands communicate. According to Daou, brands must also have the are extra sensations than those found in traditional advertising or ability to execute this technology to an extent where the consumers
46 LEBANON OPPORTUNITIES, FEBRUARY 2018 3PURZ!*SPJR[OPZHY[PJSL»ZLU[Y`PUº;HISLVM*VU[LU[Z»VUV\Y^LIZP[L feel the right messages are being delivered to them. As 360 degree video recorder cameras are becoming cheaper, they have become more available on the local market. This kind of camera allows users to shoot in all directions. They are being used more and more locally, so they are expected to eventually become widespread, according to Daou. In another application, ‘face filters’, which are gaining popularity, are digital products that allow users to add VR features to their faces. Face filters are frequently used by social media websites like Snapchat and Instagram. Daou said: “We are doing a series of branded face filters that can be used and applied anywhere, in any store, by anyone, and then when you’re done with that you can take that picture, share it and have fun.” In another sort of VR/AR devices, children’s play areas with virtual reality platforms have begun to VIRTUAL FUTURE pop up in different local malls. “Technology has become second Augmented Reality has a greater potential for growth than Virtual nature to these consumers,” Daou said. Sometimes, the local state Reality but it is still in its infancy and many enterprises are still of technology represents an obstacle. According to Daou, some of assessing its long-term impact. The global AR market is expected to these technologies require massive computers that are not always reach $114 billion by 2021, while the VR market will amount to $65 accessible locally. billion, according to a report by ABI Research released in February 2017 and titled ‘Augmented and Virtual Reality: The First Wave of COST EFFICIENCY 5G Killer Apps’. ABI Research is an international market research Besides enhancing customer experience, AR helps businesses save company that conducts studies about advanced technologies. Omari money, especially those marketing their products overseas, such as said that AR is more accessible for users than VR and will be used in developers of real estate projects who want to reach expats. Potential several fields such as education, manufacturing, and in different customers can see the product and interact vertical markets. A vertical market is a with it without the need for them to be market whereby suppliers provide specific physically present in the location, Omari said. Consumers like to goods or services to a market segment that The manufacturing sector is also a potential has particular needs. Snapchat, which boasts user of VR applications. General Electric shop at stores where many users, is the simplest social media (GE), for instance, instead of shipping its AR is used AR platform. Apple has already created its machines from the USA to an export country platform to develop AR while Facebook is and paying a lot for freight, customs, and going big on this venture. Daou said that warehousing, used AR or VR to enable potential customers to see its if more people had advanced smartphones with AR features they machines from different angles as if they are there in the USA. AR would expect brands to offer them more sophisticated experiences. solutions are affordable for both big and small companies. According According to him, if the Internet improves in Lebanon, we will see to Omari, the cost of content development is the critical factor. “The fast advancement in interactive and immersive technologies that good news is that we are now able to create platforms where we can brands can use to give better experiences to their customers. host content, so we don’t have to develop content all the time,” he said. Reported by Shikrallah Nakhoul TALENT NEEDED It is not enough to have tech-savvy consumers in order to boost the VR ON OUR WEBSITE and AR business in the country. There is a need for qualified human More information is available by typing the numbers below into the resources to develop these technical solutions. Daou said: “What is Reference Finder on our home page becoming more challenging is: Can we create enough talent that can L0218-76 Augmented and Virtual Reality-ABI Research-Feb 2017 adapt to the new requirements?” There are many graphic designers L0218-77 Virtual Reality-Augmented Reality hype on the local market but there is a need for people who can do online or serious business-BOM-2017 graphic design, he said. The local VR and AR industry also needs L0218-78 Riding the Augmented Reality wave-FTI Consulting-2017 animators and video editors. “We are talking about an evolving skill L0218-79 Profiles in innovation-Goldman Sachs-2016 set and this is challenging for people in the education sector,” Daou L0218-80 Virtual and Augmented Reality-branding said. According to Omari, technology is moving much faster than our and marketing-LIMITLESS LAB-2017 education system. He said that courses should be updated at a fast L0218-81 Contact information pace in order to keep up with the latest technological advances. Even experts need to re-educate themselves at all times. www.opportunities.com.lb
LEBANON OPPORTUNITIES, FEBRUARY 2018 47 BUSINESS AND ECONOMY COUNTRY REPORT
A double-edged sword Inflation up again
he annual inflation proxy rate reached COMMODITY PRICES, December 2017 compared with December 4.5 percent on average in 2017 after HIGHER EURO 2016. Middle-range and high-end clothing T two years of deflation, and five percent The Consumer Price Index (CPI) rose is mainly imported from Europe. The cost from December 2016 to the end of last year. five percent in 2017. The prices of all of water, electricity, gas, and other fuels, Moderate inflation can be good for the categories of goods and services that which have a weight of 11.8 percent in the economy as it stimulates growth. Beyond a compose the CPI increased over the same calculation of the CPI, went up 8.9 percent. certain level it will have a negative impact period, according to the The increase in the cost of on household standards of living. Rising Central Administration of this category was driven by inflation comes at a time when interest Statistics (CAS). The IIF said The hike in higher oil prices, according to rates are increasing globally and locally. in its report: “Inflationary economist Robert Kasparian, The Institute of International Finance (IIF) pressures have increased in public wages is former Director General of said in its ‘Economic Views-Lebanon: Ray recent months due to the also contributing the Central Administration of Hope’ report released in December that increase in global commodity of Statistics. Prices in the the country’s monetary policy needs to prices and the depreciation to higher prices food and non-alcoholic remain tight in order to reduce inflationary of the dollar vis-à-vis the beverages category, which pressures. The impact of the reversal in the euro, leading to significant has the largest weight of 20 inflationary trend is not very strong. The increase in import prices.” The hike in percent, increased by 3.7 percent. Old rent International Monetary Fund (IMF) and public wages is also contributing to higher rose 7.1 percent as property owners were the World Bank expect an annual inflation prices, according to the IIF. The prices of to increase their rents following the new rate of 2.5 percent in 2018, while the IIF clothing and footwear recorded the largest law, Kasparian said. Alcoholic beverages, anticipates an inflation of 4.6 percent. annual increase jumping by 17.4 percent in and tobacco rose 7.6 percent. The category
48 LEBANON OPPORTUNITIES, FEBRUARY 2018 3PURZ!*SPJR[OPZHY[PJSL»ZLU[Y`PUº;HISLVM*VU[LU[Z»VUV\Y^LIZP[L that had witnessed the least increase in prices was communication, which rose 0.82 percent in December 2017 compared with the same month of the previous year.
HEALTHY INFLATION Moderate inflation is necessary to encourage businesses to produce and invest. According to Kasparian, the current inflation rate of 4.48 percent is not alarming because it is computed in comparison to a low base in 2016 when inflation was negative. The inflation rate was minus 0.82 percent in 2016 and minus 3.75 percent in 2015 mainly due to low oil prices and weak demand on the local market. Kasparian said: “An inflation rate ranging between one and two percent is better than deflation and is a stimulus for investment and for economic growth.” According to Bank Audi’s Lebanon Economic Report for the third quarter of 2017, the economy can afford slightly higher prices after the near-stagnation in prices for almost five years. Moderate inflation levels are in line with the Central Bank (BDL) monetary increases to public sector salaries resulting will feel compelled to raise interest rates policy’s objectives to improve prices. from the adjustments made since 1996 in order to attract deposits and encourage BDL said in a report last year: “Shifting are approximately the double of the rises saving. Hamdan said that with rising inflation from negative and zero rates to approved by the government and granted by interest rates the debt service will become close or slightly greater than real income private sector companies to their employees, more costly. If the government imposes growth rates alters future according to Hamdan. “This additional taxes to prevent a widening of the expectations from negative has happened although the fiscal deficit resulting from higher interest to positive and thereby One to two productivity of private sector payments on the public debt, this will fuel stimulates investments in employees is much higher inflation again and the economy will enter the real economy and raises percent inflation than their peers in the public into a vicious circle. “High debt service could the rate of growth further.” is better sector,” he said. Hamdan said also be detrimental to Lebanon’s sovereign According to the Central this comparison between rating as the credit rating agencies would Bank, an inflation of less than deflation the salary adjustments in raise the country’s risk in line the escalation than four percent is a healthy public and private sector does of the debt service,” Hamdan said. He said and desired phenomenon. not take into consideration that raising taxes would most likely be The slight rise in prices leads to higher the voluntary pay hikes undertaken by a ineffective because of the waste of public profits for businesses, which will encourage number of private companies independently money due to corruption and the absence them to increase their investments and thus of government decisions. According to of reforms. contribute to economic growth. Hamdan, the higher cost of living will especially hurt informal workers and the Reported by Shikrallah Nakhoul SALARY ADJUSTMENTS self-employed who cannot benefit from Excessive inflation erodes the purchasing adjustments to their income. ON OUR WEBSITE power of consumers, requires salary More information is available by typing the numbers adjustments, and weakens the national INTEREST RATES below into the Reference Finder on our home page currency. Kasparian said that salary In addition to the higher cost of living, the L0218-60 Consumer Price adjustments usually follow on the heels of rise in inflation may also be a factor in the Index-Dec 2017-CAS such inflation rates and that the additional possible increase in interest rates in the L0218-61 Economic Views-Lebanon-Ray salary hikes would fuel further escalations mid-term. The IIF said in its report that of Hope-IIF-Dec 2017 in inflation and the country thus enters a local interest rates may rise further in 2018 L0218-62 Lebanon Economic vicious circle. Economist Kamal Hamdan, following the forthcoming hikes in US rates, Report-Q3 2017-Bank Audi Executive Director of the Consultation particularly if inflationary pressures persist. L0218-63 BTA-Fransabank and Research Institute (CRI), said the High inflation erodes interest revenues Retail Index-Q3-2017 government will have to adjust the salaries of and thus saving becomes less profitable, L0218-64 Contact information private sector employees to keep them in line which generates a disincentive for saving, with public sector wages. The cumulative according to Hamdan. The banking system www.opportunities.com.lb
LEBANON OPPORTUNITIES, FEBRUARY 2018 49 BUSINESS AND ECONOMY IN MY OPINION
Official information and statistics are out of control
tatistical data has become a matter of study itself, properly calculated, gave a rate of nine opinion rather than fact. This applies not percent. International organizations generally follow S only to politicians, but also to leaders in the the official national data. So the International Labour private sector. Unfortunately even researchers Organization (ILO), the international agency that has are using these false ‘official’ figures as the primary responsibility for data in this field, has put basis of their analysis and conclusions. Several unemployment levels in Lebanon as six or seven percent widely differing ‘official’ statistics are sometimes in the last few years. Other international organizations, available for the same variable, depending on the including the World Bank, have followed ILO’s lead. But views of the official source issuing them. The lack the World Bank has lately undertaken two studies. In of control and accountability in this regard has the first it set the unemployment rate in Lebanon for encouraged public officials to fabricate numbers 2013 at 11 percent. The second and more recent ‘Job in a way rarely found in other countries. Opportunities for North Lebanon’ study, undertaken in 2017, found that the unemployment level in this less UNEMPLOYMENT LEVELS developed region, which holds a large concentration The numbers relating to unemployment present a clear of Syrian refugees (not included in the study), was example. The unemployment level is an important nine percent. The data from CAS and international variable in the formulation of economic policy in the organizations imply a present level of unemployment majority of countries around the world. Countries somewhere between 9-11 percent. generally undertake a survey every month (or no less than once every quarter) in order to discover changes, POLITICIZED NUMBERS however small, in the level of unemployment, in order In 2015, the then minister of labor declared that the to calibrate economic growth through possible changes unemployment rate among citizens was between 22 and in financial and monetary policies. In Lebanon, by 23 percent in 2014, but rose to 32 percent the following contrast, the last survey of the labor force, including year. However, thanks to the strenuous efforts of his unemployment, was undertaken in 2009 by the Central ministry, the rate was brought down to 25 percent in Administration of Statistics (CAS), with assistance 2016. All this without a survey being undertaken during from UNICEF. This survey gave an unemployment those years. Worse yet, in 2016 the same minister of rate of six percent, but the relevant numbers in the labor declared that there are 1 million unemployed
Riad Tabbara, former Ambassador of Lebanon to the U.S., UN- ESCWA Director, economist, author
50 LEBANON OPPORTUNITIES, FEBRUARY 2018
BUSINESS AND ECONOMY IN MY OPINION
Public and private measures are required to put things on the right track
Lebanese in the country. Since the total labor force is WHAT’S TO BE DONE? estimated at around 1.5 million people, this implied the In my book, ‘Development and Human Problems in unemployment rate was 66 percent. It appears that the Lebanon: By the Numbers’, from where some of what minister calculated the number of unemployed as 25 precedes has been taken, I tried, in so far as possible, percent of the total population rather than of the labor to correct the statistics in the areas of population, force as one would expect. It is curious that, immediately migration, unemployment, health, education, and others after the minister’s announcement, CAS published, on before using them. But it became clear that we are the home page of its website, that the unemployment the only country that has not taken a population rate was ten percent. The purpose of these inflated census since the end of World War II, and has fallen numbers is obviously to show the negative economic behind most countries, even the least developed, in consequences of the forced immigration of Syrians the area of statistics obtained from household surveys, into Lebanon. Since a large proportion of people think, statistics that offer basic information about the volume perhaps as a result of the official declarations mentioned, and characteristics of the population, as well as the that the main, if not the only, reason for the economic problems facing the people in their daily lives. This slowdown in the country is due to Syrian refugees, these information is obviously necessary for the formulation inflated unemployment figures found wide resonance, of rational human development policies. What is needed even among researchers, which gave them additional to correct this statistical situation is very simple and acceptance. In the same vein, the may be summarized in two basic minister of economy recently declared measures: One is the responsibility (November 22, 2017) that, according No survey was of government and the other is the to World Bank data, GDP in Lebanon responsibility of the civil society. fell from eight percent in 2011 to one conducted that covers Firstly, the government should percent in 2017, due mainly to the the period in the formulate a statistical program, pressure that the Syrian refugees financed routinely in the budget, have placed on the national workforce minister’s statement which includes not only financial and and on the country’s infrastructure. banking statistics as now, but also a Consequently, according to the series of periodical household surveys minister: “The rate of unemployment has reached 30 covering, as in other countries, information on the percent.” But data from the World Bank, and that of the population and its distribution, labor, unemployment, Central Bank (BDL), show exactly the opposite trend in standards of living, and other information necessary for GDP. In 2011 the growth of GDP was actually less than the formulation of a rational and balanced development one percent and the estimated growth rate of GDP in policy. The late Prime Minister Rafic Hariri formed a 2017 was 2.7 percent (subsequently revised down to two committee of experts for this purpose, which was about percent). In other words, the GDP growth did not fall, to finish its task when Mr. Hariri was martyred, but but rose threefold during that period. Using the same the succeeding governments did not care to continue logic, should one conclude that this spectacular rise in this work. Secondly, civil society, including the media, GDP growth was due to the inflow of refugees? The truth should assume greater responsibility for monitoring the of the matter is that the growth of GDP in 2011 fell so pronouncements of officials and in pointing out the false drastically, before the influx of refugees that started in data and information that they put out, as is done, for 2012, due to the closure of routes for exports and the example, by the ‘Fact Checker’ program sponsored by the state of insecurity in the country and region. Washington Post and other such initiatives.
LEBANON OPPORTUNITIES, FEBRUARY 2018 53
BUSINESS AND ECONOMY TO READ
THE ENTREPRENEUR HANDBOOK InfoPro English 208 pages LL20,000
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LEBANON OPPORTUNITIES, FEBRUARY 2018 55 FINANCE IN MY OPINION
Seven reasons why The lira will not crumble
ecent articles in the media have insinuated NEGATIVE BALANCE OF PAYMENTS that Lebanon is heading toward a IS OFFSET BY LOCAL LIQUIDITY R “dangerous financial crisis that could Assessing the need for foreign currencies and the extent destabilize banks,” leading to a devaluation of its availability to complete external transactions is also of the national currency and impoverished important, and can be done by evaluating the balance citizens. According to these analyses, the crisis of payments’ performance. Since the beginning of the is rooted in the Central Bank’s (BDL) policy Syrian crisis, the balance of payments has recorded and the high interest rates prevailing in the annual deficits averaging $1.8 billion over the past five market. This evaluation is far from reality for the years. If the situation persists as is, BDL would have following reasons. sufficient liquidity to cover the balance of payments through its foreign assets for another 24 years without AMPLE RESERVES even resorting to the use of its gold reserves. Additionally, Financial crises may cause the collapse of a national commercial banks possess about $21 billion in foreign currency, as was previously seen in Greece and Latin assets, which permits them to finance the balance of American countries. This can happen only when the payments for another 12 years. Therefore, the banking banking system, and particularly the central bank, of system has an abundance of foreign assets to finance the a country lacks sufficient foreign exchange reserves to balance of payments and maintain the value of the lira. intervene and maintain the value of its own local currency, and when a country fails to adopt corrective policies. COLLAPSE NEEDS In Lebanon, the BDL’s balance sheet shows that it had MASSIVE MONETARY EXODUS acquired $43 billion in net foreign assets and $12 billion in The question that could be raised is: What might cause gold by the end of October 2017. It’s true that local bank Lebanon to have a financial crisis and experience a deposits in foreign currencies at the Central Bank are the forced currency collapse? This can only happen if citizens main source of BDL’s foreign exchange assets, but these and local institutions lose confidence in the Lebanese deposits are considered domestic liabilities rather than economy and banks on a large and unprecedented scale, foreign liabilities and have long-term maturities ranging an event which would ultimately lead to a massive from seven to 30 years. It’s a serious misinterpretation outflow of foreign exchange and a ‘meltdown’ of the to consider, as some analysts do, that these bank deposits are foreign liabilities rather than domestic liabilities in foreign currency, by overlooking the maturity period of these deposits. This distinction is important to make, and it is made by all international financial institutions and credit assessment agencies as it follows the International Monetary Fund’s (IMF) accepted classification of assets and liabilities. Banks obtain most of their foreign currency assets from customer deposits in foreign currencies. These resident deposits in foreign currencies are considered domestic liabilities rather than foreign liabilities. Banks in turn deposit some of these accounts at BDL which are also considered domestic liabilities in Mounir Rached, foreign currencies on the balance sheet of the BDL, and Chairman of the not foreign liabilities. Confusing domestic liabilities Lebanese Economic in foreign currencies with foreign liabilities is a very Association. He serious error which leads to the wrong conclusion that is a lecturer at the BDL does not have sufficient net foreign assets to the American intervene in the market to maintain the value of the lira. University of While the contrary is true, central banks, except in oil- Beirut and a former producing countries, procure their foreign reserves from economist at the the domestic banking sector. Therefore, the net foreign International assets of BDL are quite substantial and could comfortably Monetary Fund in intervene in the foreign exchange market to maintain the Washington, D.C. stability of the lira.
56 LEBANON OPPORTUNITIES, FEBRUARY 2018 banking system. Is this possible? This scenario is very imaginative and requires the loss of most of the foreign assets currently in the banking system, and is surely unrealistic when we consider Lebanon to be a country that attracts foreign capital worth $10 billion to $13 billion annually.
WHERE WILL THE MONEY GO? Another question that arises relates to where the Lebanese will transfer the foreign currency funds they have deposited in Lebanese banks. To Western banks? Any investor will find that the return on their investments in advanced Western markets is much lower than the rate of return in Lebanon, by about four percent. This is the investors’ choice, but they find Lebanon to be a lucrative option. The high interest rate differential is a magnet for the inflow of capital and 95 percent of the public debt is local debt and the other transfers into Lebanon and has been taking place remaining five percent is funded externally, mostly for decades. It was only during the peak of the civil war from international and regional financial institutions, years that Lebanon suffered a severe devaluation as the and from bilateral official country sources. Countries government lost control over all of its revenue sources, that had financial crises historically had substantial and relied largely on printing lira to finance its spending foreign debt. in all sectors (education, the army and police, health, etc.). Financial institutions such as the IMF have been NO PRIMARY DEFICIT supportive of the government’s pegged exchange rate Is the current fiscal deficit, estimated at about policy. Only a major security threat could destabilize the $4.5 billion in 2017, a possible cause of financial exchange rate, one that was even larger than the impact collapse? State revenues have been exceeding primary of the 2006 war. expenditures (total expenditures minus debt service) for the past four years. Had there been no debt service, HIGH INTEREST RATES a surplus in the budget could have been recorded DUE TO POLITICAL RISK ranging between one and two percent of income. This Rather than reflecting the monetary policy of BDL, is an important indicator showing that the current there are several other prime reasons for the high yield fiscal situation would be healthy if the country had (interest on deposits). The high fiscal deficit led to the not accumulated debt in previous years. The fiscal There is a accumulation of debt and the need for financing since outcome could easily be improved if we were to solve the the early 1990s. The adoption of a fixed exchange rate electricity crisis and the fiscal subsidy burden behind difference (a governmental decision) requires high interest rates it. A number of other sources of overspending can be between to attract inflows of foreign capital and create reserves fixed, which could improve the fiscal outlook. These to maintain the fixed currency peg. There is also the include mismanagement of other subsidies, serious over- the need for unstable political and security situation due to the Syrian employment in many public agencies, and corruption at reform and crisis, the closure of borders, and internal disputes. many levels and in public procurement in particular. These factors combined raise the risk of investing in the being on the local market and raised the domestic interest rates on all NOT GREECE brink of a financial assets and liabilities, resulting from the normal Hasty conclusions regarding the risk of plunging into risk valuation. This is typical of similar cases such as a financial crisis should be avoided, a conclusion that monetary Turkey and other countries with a higher risk profile, stems from the apparent lack of comprehension of factors crisis especially political risk. affecting financial markets. The Lebanese financial situation is not the same as that of Greece, as some NEARLY ALL PUBLIC DEBT IS LOCAL believe. Greece lost its reserves and defaulted on its debts Another recurring question is whether the $78 billion to European banks. The Lebanese debt is mostly local gross public debt (equivalent to 145 percent of the 2017 and more than half of it (61 percent) is in lira issued by domestic income) could lead the country into a fiscal BDL. This does not mean that we do not require reforms crisis that could lower the value of the lira. In the past, in several areas. There is a difference between the need the country has experienced a much higher public debt for reform and being on the brink of a monetary crisis ratio that has reached 180 percent of the national income that will impoverish citizens. Improving the fiscal in previous years. It did not undergo a monetary crisis situation is urgent and fundamental, as is addressing the then. The economy has both the ability and willingness shortcomings in all public services, the electricity sector to finance and refinance debt, which in turn signifies in particular, which also makes increasing tax revenues market confidence in government bonds. Additionally, necessary to maintain and strengthen financial solvency.
LEBANON OPPORTUNITIES, FEBRUARY 2018 57 FINANCE TAKING STOCK Interest rates to remain up Local confidence in lira rising, but borrowing is becoming more costly
of Balamand, said that the persistence of high interest rates means that some risks still exist despite all the positive political and economic achievements made by the government. “We are still at a stage of uncertainty regarding a number of factors, such as the forthcoming elections and regional unrest, but things may become clear in the coming four or five months,” he said. Tight liquidity is also fueling rivalry among banks and this is driving interest rates up. According to economist Samir Nasr, Chairman of ECE Consultants, the banks are competing to attract deposits due to high pressures on liquidity in the local currency. “This was shown especially in November by the very high interbank rates,” he said.
DOLLARS TO FOLLOW In the same financial move, interest rates on dollar deposits have also increased, albeit at a lower rate. The weighted average he recent rise in the local interest rate LIRA RATE HIKES of dollar deposit rates rose by seven basis makes deposits more attractive, but The surge in the interest rate on lira deposits points in October and eight basis points in T would be detrimental to investment was staggering following the political crisis November. The banks are currently offering and growth as lending becomes more costly. in early November. The weighted average rates ranging between four and six percent According to Riad Salameh, Governor of these rates surged 32 basis points to 5.88 on term deposits in dollars, according to of the Central Bank (BDL), the financial percent in November from 5.56 percent in InfoPro Research. On average that is one engineering operations launched by October. Instant hikes were applied by all percent more than in October. The yield BDL following the rise in interest rates banks. They were offering interest rates depends on the amount and the time frame. in early November, have contributed to on lira deposits ranging between seven The rate could reach up to seven percent at protecting the national currency and and nine percent in November. That is at certain banks for very large amounts. Amine upholding stability. Bankers hope that the least two percentage points more than a Awad, General Manager at BLOM, said forthcoming international conferences to month earlier. Now that the resignation that there was a need to hike interest rates support the local economy, and a functioning crisis is settled, one would on the dollar even before government, will contribute to slowing expect a return to pre- the resignation of the Prime down the rising interest rates. Pending these November levels. This was Political crisis Minister. “The interest rate achievements, the lira remains resilient. not the case at the end of should reflect the country’s Salameh said that citizens have confidence January. Interest rates are was the straw risk, and the resignation in the national currency and the proof is still high, with the blessing of that broke the was the straw that broke that they are selling dollars and buying liras. the Central Bank. According the camel’s back,” he said. In the meantime, subsidized loans have to InfoPro Research, most camel’s back Another minor factor that become less profitable to the banks since banks are now offering 6.5 influences interest rates both they are not free to increase the lending and nine percent on term on lira and dollar deposits rate in line with that on deposits. Rising deposits in lira. The rate depends on the is the regular slight increase in interest global interest rates are narrowing the size of the deposit and its time frame. rates that is carried out by the banks near spread between local rates and international Higher amounts and longer blocked periods the end of each year to attract deposits benchmarks. Economists fear that BDL’s are offered higher rates. Paul Douaihy, and improve their ranking. Awad said policy to absorb liquidity from the market Director of the Economics and Capital that this phenomenon, known as ‘window will have recessional effects. Markets Research Center at the University dressing’, usually takes place in December
58 LEBANON OPPORTUNITIES, FEBRUARY 2018 Links: Click this article’s entry in ‘Table of Contents’ on our website and consists of a small to moderate increase AVERAGE RATE ON LL LOANS in interest rates, while the recent interest rate hike happened in November and was Percent much larger. Whatever the reason, the 9 result was immediate. High interest rates 8 Spread contributed to the growth of deposits in 7 6 both currencies, but more so in liras. They Average rate also prevented depositors from transferring 5 on LL deposits their lira savings into dollars. Awad said 4 that high rates are also attracting more 3 deposits from abroad. According to the 2 ‘Ray of Hope’ report on Lebanon issued in 1 LL December by the Institute of International 0 Finance (IIF), favorable interest rates, trust Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov in the financial system, and the stability of the fixed exchange rate keep deposits attractive to non-residents. AVERAGE RATE ON $ LOANS
LENDING HEADACHE Percent High deposit interest rates make borrowing 9 8 more costly. Douaihy said that although Spread depositors profit from higher returns, the 7 6 impact on the economy as a whole is negative. Average rate The cost of financing the private sector 5 on $ deposits increases and this weakens investment and 4 economic growth, he said. But adjusting 3 interest rates on loans to changes in deposit 2 rates is not straightforward and takes time. 1 “In the case of deposits, the banks can act $ 0 quickly to keep existing customers, while Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov this does not apply in the case of loans,” Awad said. Some loan contracts stipulate Source: Central Bank, InfoPro Research a fixed interest rate over the whole period. The weighted average rate on lending in rate on lira loans fell in November instead service because subscriptions to Eurobonds dollars, which jumped last September to 7.53 of rising. This rate dropped to 7.98 percent are done through BDL at acceptable rates percent, its highest value in the last nine in that month, its lowest value in two years. that do not increase the debt burden. BDL years, dropped in November to 7.32 percent. The substantial growth in subsidized loans is using financial engineering operations This is an indication that the deposit rate contributed to the drop of the average rate. for this purpose, he said. The Central Bank hike cannot immediately be translated into Utilized subsidized loans benefiting from fully subscribed to the latest Eurobond issue the same move for loans. Additionally, for deductions in reserve requirements reached of $1.7 billion. The share of the local banking subsidized loans the situation is even more $7.2 billion in September 2017, increasing by sector in gross public debt fell to 41.4 complex. Banks are not allowed to raise the $423 million in the first nine percent in November 2017, rates of subsidized loans as these are tied to months of the year, which is according to ‘Market Watch’, the Treasury bill yield. the double the growth seen Subsidized loans published in January by over the same period in 2016, Credit Libanais. The banks BANKS’ PROFITS according to SGBL’s Econews will not suffer held 54 percent of the public As a result of the above, the spread between report released in January. from rising loan debt two years ago. The fact lira deposits and lira loans is narrowing that BDL is shouldering the sharply. If deposit rates remain at high levels DEBT SERVICE interest rates interest burden does not and lending rates do not follow at the same High interest rates would mean that the country is not pace, this means that the situation will be have a mitigated effect on exposed to the risk of high tough on banks’ profitability. “BDL should do the debt service which is already escalating. interest rates. The credit rating agency something regarding loan subsidies in order Gross public debt stood at $79.4 billion at Moody’s said in the ‘Levant and North to encourage the banks to continue lending,” the end of November, after rising by $4.82 Africa Outlook’ report released in January: a banking source said. The time lag needed billion compared with a year earlier. The “High debt levels, low debt affordability, for adjusting the interest rates on loans burden of the interest rates is however large funding needs, and relatively high debt and the fact that the rates on subsidized assumed mainly by the Central Bank. roll-over rates increase Lebanon’s exposure loans cannot be changed are the reason According to Awad, the rise in interest rates to a sharper rise in interest rates than we why the weighted average of the interest will not have a significant impact on the debt currently assume.”
LEBANON OPPORTUNITIES, FEBRUARY 2018 59 FINANCE TAKING STOCK
THE GLOBAL FACTOR The international trend of rising interest rates is ongoing and seems to be unavoidable. Therefore local rates will eventually have to be adjusted. A source in the banking sector said that it is hard for interest rates on the lira to drop from their current levels as the spread with global interest rates is narrowing while the country’s risk remains. He said that 2018 will be a tough year if nothing is done to tackle the situation. According to the IIF report, local interest rates may increase further this year, particularly in including interest subsidies and reserve rise but they are still under control and case of inflationary pressures. Salameh requirement incentives, would maintain there is no reason for panic.” He said that said that local interest rates are related low-cost loans to productive sectors and for the current level of local interest rates to global rates and the interest rate on home purchases. reflects the conditions in the country such the dollar will not drop in Lebanon. But as the economic slowdown, the slump in on the positive side, the average maturity TIME HEALS investment, the deficit in the balance of of deposits has increased from 40 days to Bankers think that although the level of payments, and the scarcity of liquidity in 75 days, which would ease the pressure interest rates is currently high, it is still liras. If these indicators improve, interest on banks in case of sudden demand for acceptable compared with other countries in rates could gradually return to normal levels. foreign currency. According to the SGBL the region. They are still less than interest Awad said that a functioning government, report, borrowing rates are projected to rate levels in Egypt and Turkey. Nasr said: signing oil contracts, and completing the rise further in 2018. But BDL’s initiatives, “It is normal that interest rates should forthcoming parliamentary elections would also contribute to lowering interest SPREAD L)BOR-DOLLAR DEPOSITS rates. Gas and oil exploration and political stabilization will attract more foreign direct investments which will have a multiplier 1.95 effect and would eventually lead to a growth in deposits and consequently interest rates 1.90 will fall, he said. But this will take time. The IIF said that the improvement in the political 1.85 circumstances will bolster the confidence of non-resident savers, which would also lead 1.80 to acceleration in the growth of deposits. As more capital inflows from abroad are 1.75 attracted to lira deposits the national currency will become more robust and BDL’s 1.70 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov interventions to support it will become less frequent, Awad said. According to the IIF, the Source: Central Bank, InfoPro Research, fedprimerate.com/ uptrend in the dollarization rate of deposits is also likely to reverse this year. BEIRUT REFERENCE RATE Reported by Shikrallah Nakhoul 7.0 12 ON OUR WEBSITE 6.8 11 More information is available by typing the numbers below into the Reference Finder on our home page L0218-85 Econews-SGBL-Jan 2018 6.6 10 L0218-86 Market Watch- Credit Libanais $ LL Jan 2018 6.4 9 L0218-87 Levant and North Africa Outlook Moody’s-Jan 2018 6.2 8 L0218-88 Economic Views-Lebanon Ray of Hope-IIF-Dec 2017 6.0 7 Jan 2017 Mar May Jul Sep Nov Jan 2018 L0218-89 Contact information www.opportunities.com.lb Source: Association of Banks in Lebanon (ABL)
60 LEBANON OPPORTUNITIES, FEBRUARY 2018
FINANCE IN MY OPINION
Three issues inherited from last year
t the end of 2017, we were swamped with with Israel. It was also reflected in a capital outflow that developments worthy of review, as they was effectively contained by the commercial banks, in A are likely to have an impact on 2018. They cooperation with the Central Bank (BDL) and through are: The crisis which developed following the their strong relationships with big depositors. The resignation of the Prime Minister in November, pressures caused by the crisis, on the other hand, have the Lebanese Diaspora Energy (LDE) Conference, led to an unprecedented rise in interest rates, especially which was held in Mexico, and the forthcoming on customer deposits in the lira and dollar markets. The Paris Conference. proposed high interest rates for deposits in the national currency prompted depositors not to convert from the lira THE CRISIS THAT to the dollar. The parallel high interest rates on the dollar IS ALMOST OVER helped in preventing the transfer of funds out of the The PM resignation crisis was sudden and country, and it is hoped that it will attract more deposits. implausible, causing ramifications on the The credit rates in lira and international currencies political, economic and financial levels. We would also surged to high levels that could reduce lending to like to focus on the financial and monetary levels. We the private sector, and may also shrink GDP growth. leave it to politicians and the international community Loans to the economy represent a vital contributor to to handle political implications, as this crisis may have economic growth in the absence of investments from the been contained, but is definitely not over. Disassociation local business community and through Foreign Direct is a question of practice and not just a written document. Investment (FDI). Within this framework, the incentives It is essential that the political parties and organizations that BDL intends to expand aim to encourage banks to in the country abide by disassociation so we won’t be lend and incite businesspeople to invest, expand their surprised by the same crisis in the future. It is imprudent institutions, increase employment, and create new to outsmart each other just to gain time, as this practice income. This in turn will stimulate the economic cycle. is futile. The November crisis caused serious pressure on the exchange market. It resulted in a wave of MOBILIZING EXPATRIATES conversion from the lira to the dollar, which reached The Ministry of Foreign Affairs and Emigrants has levels unseen since the assassination of former Prime successfully organized a conference to mobilize the LDE Minister Rafiq Hariri in 2005 and the July 2006 war in Mexico, for Central and South American countries. Representatives of BDL, the Association of Banks and three banks (Bank Audi, BLOM and Bank of Beirut), attended the meeting. The banking sector also provided support to ensure the organization of the conference. The conference was successful by all standards. It was attended by about 800 participants, around half of them from Mexico, headed by global businessman Carlos Slim Helou. The other half came from various countries in Central and Latin America. Speeches made by the Deputy Governor of the BDL and the Secretary-General of the Association of Banks explained the services and financial products provided by the banking sector to expatriates. They can be summarized in three areas. The local banking sector is a modern and regulated sector that enjoys high solvency within international standards and with a liquidity that exceeds global requirements. Banks have a national network of branches (approximately 1,100 branches) and in the foreign markets our banks are located in 32 countries across 90 cities. They have a network of correspondents covering four continents, including Latin America. The Makram Sader, second feature of the banking sector lies in its ability Secretary-General to service the needs of the Diaspora in its operations of the Association and investments in Lebanon. This is achieved through of Banks in soft loans either for housing (home acquisition or Lebanon construction) or for investment purposes, as banks
62 LEBANON OPPORTUNITIES, FEBRUARY 2018 provide subsidized and low-interest loans. Expatriates far, the difference between Paris 4, if it is held, and the can also benefit from the mechanisms of Circular 331 previous three conferences revolves around two issues. on startups. Banks’ investment in startup companies First, funding will be limited to infrastructure projects. has exceeded $368 million. They also have financing There will be no direct support to the Treasury. Secondly, capacity for startup investment of $750 million, or the role of the World Bank and the International four percent of their capital. The number of startup Monetary Fund (IMF) will be pivotal. The former would companies in local incubators has reached 800, providing be responsible for giving approval or a validation pass around 9,000 jobs, directly and indirectly. Banks also to each selected project within the package, which contribute to the eight investment funds established would significantly reduce the impact of corruption under Circular 331. The contribution of the startup and the number of potential corrupt people. The IMF sector to GDP is estimated to be about 1.5 percent, or will be responsible for the elaboration and follow-up close to $1 billion. Businesspeople of Lebanese descent of the general macro-economic framework with its who want to establish local industrial enterprises can required balance of growth, inflation, employment, and Who is also benefit from two additional mechanisms to finance monetary stability. The convening of such a conference and encourage exports. IDAL manages the first and with a coherent program of sufficient scope to modernize better to the banks manage the second through the inter-Arab and expand human and material infrastructure is a direct trade finance program, as well as subsidized loans for timely opportunity to attract businessmen of Lebanese the export production scheme. The third advantage of origin to invest locally and to share their energies, investors? the banking sector is the ability of banks to advise their work mechanisms and management techniques with expatriate clients who wish to establish and develop their local counterparts who have no less ability or businesses locally or to partner with local residents. And experience. Finally, we call on the Ministry of Finance, who is better than our bankers to direct our expatriates on the occasion of preparing and discussing the draft to promising investment areas and to credit-worthy and budget for 2018, to include in this draft a minor successful local partners? legislative amendment to repeal Article 69 of the Income Tax Law of 1959, i.e. the cancellation of the income PARIS 4 CONFERENCE tax on the yield of capital funds transferred abroad. There has been a lot of talk in local circles recently To maintain such a tax as the country joins the Tax about a fourth conference to be held in Paris in the Information Exchange Agreements will greatly limit context of the three conferences that were hosted by the ability of non-residents to relocate their economic the French capital under the names of Paris 1, 2 and 3. residence to Lebanon. The Ministry of Finance, in The possibility of convening such a conference is high its Implementation Decree of the Law on the Tax after the recent International Support Group meeting Information Exchange, has declined to sign agreements and the international umbrella that it produced to with African countries, thus protecting the Diaspora protect political stability in the country. Such stability there, which mainly originated from south Lebanon, constitutes a necessary and mandatory entry point as a result of various driving factors. But what about into any large-scale funding program for projects from the Diaspora in other continents, especially in Europe donor countries and international and regional financial and America? They are also expatriates who deserve a institutions. According to the available information so similar gesture.
LEBANON OPPORTUNITIES, FEBRUARY 2018 63 REAL ESTATE ZOOM
Unchaining Beirut Central District Public and private sectors join hands to revive the commercial center
he security barricades surrounding EAGER TO COME BACK for shopping.” He said that the positive Nejmeh Square in Beirut Central The private sector has hailed the initiative momentum spearheaded by the public T District (BCD) were recently lifted. that was driven by the successful New Year’s sector, and championed by the private sector, Barricades were erected a few years ago Eve party in Nejmeh Square. The party should keep moving forward. Restaurant to stop demonstrators from accessing the brought together over 15,000 spectators owners want to come back, but many are Parliament and for general security issues. and attracted general acclaim. Chairman of afraid of the move. Toni Rami, Chairman of But at the same time they blocked off Beirut Municipal Council Jamal Itani said: the Syndicate of Restaurants, Night Clubs, commercial streets. Most shops and cafes in “We already started receiving phone calls Cafes, and Patisseries, asked the Central the area had to close their doors. The recent from investors who are excited to open a Bank to give special incentives to encourage easing of restrictions was followed by a series business.” Nicolas Chammas, Chairman of restaurant owners who incurred large losses of meetings between representatives of the the Beirut Traders Association, said: “We to return. He also called on property owners private and public sector to restore BCD’s have been asking for this for so long. We to exempt tenants from rent for two years. ‘golden era’. hope this will revive the BCD as a destination “After these two years, restaurants would
64 LEBANON OPPORTUNITIES, FEBRUARY 2018 3PURZ!*SPJR[OPZHY[PJSL»ZLU[Y`PUº;HISLVM*VU[LU[Z»VUV\Y^LIZP[L have compensated some of the losses and be financially able to sign new contracts,” he said. Minister of Tourism Avedis Guidinian said that the initiative portrayed the real image that the government wants to share with the world, “but we need to know how to bring back the restaurants that were open in the BCD.”
THE DAMAGES According to the municipality, there are over 550 institutions that no longer exist in the BCD area, including Maarad Street, Weygand Street, Banks Street, Riad el Solh Square, and Martyrs Square. Around 12,000 employees were affected as a result. Ali Abdel Wahed, manager of Karamna restaurant, near Nejmeh square, said: “We witnessed the shutdown of 170 restaurants since 2010.” Bliss House is one of four restaurants that remained open through the crisis. It sits right across from Nejmeh Square. Kamal Khalifeh, partner, said: “The size of our sales dropped by 95 percent.” The restaurant owner paid $5,000 monthly as an overall cost (rent, operation, employees). “We suffered this cost for four years, but we never lost hope,” he said.
POTENTIAL NEW MEASURES who is also on the committee, said that In fact, rents are less than in neighboring Both the private and public sectors have property owners, from the Islamic Waqf areas like Hamra and Verdun and in malls.” started devising measures to bring back the and Solidere to individual owners, are The average rent per year in the BCD is $800 shop owners who deserted the commercial being contacted to see what incentivizing per square meter (outside the souks). Rent downtown. A seven-member mixed com- measures can be taken. The municipality in ABC Ashrafieh, according to InfoPro’s mittee has been formed to is also contacting the UN Business Handbook, is double that rate. look into possible measures. to see whether the blocked The rent per square meter of the sidewalks Mohammad Said Fatha, Many spaces entrance near ESCWA can be reaches $860 yearly. Some rents are even member of the municipal reopened. Itani said: “This cheaper as they follow the old pre-1992 council, said: “The commit- in the BCD are is one of the main problems rent law, which is still in force. However, tee is examining an idea to already equipped facing our attempts to revive new tenants will have to pay key money or exempt tenants from two the downtown.” According khloo to take over the premises. The private years of rent in exchange to be restaurants to him, there are “serious sector is optimistic that if genuine efforts are for a percentage of sales.” deliberations” to reopen the made, the BCD will return to its glory days. Another possible measure is entrance. The municipality Choucair said: “We are confident that this related to municipal fees. The municipality is contacting affordable fast food restau- year we will be able to compensate all that we cannot exempt tenants from municipal fees rants because they attract tourists of dif- have lost in the past. People will come back.” without a new law being issued. “There- ferent income levels. Many spaces in the fore, we are instead considering donating BCD are already equipped to be restaurants. Reported by Yassmine Alieh equivalent amounts to tenants,” he said. The municipality created a team special- MODERATE RENTS ON OUR WEBSITE ized in creating events in downtown. Last Property owners in and around Nejmeh More information is available by typing the numbers month, it made available 2,000 bikes for Square mainly consist of the Greek below into the Reference Finder on our home page free public use. “It is one of the things we Orthodox and Maronite churches and the L0218-119 BCD entrances are doing to encourage traffic in the area,” Sunni Awqaf, as well as a small number reopen after four years said Itani. It also held a ‘Souk el Akel’ of individuals. These owners control, in L0218-120 How to benefit from food market and hosted a music concert. addition to Solidere, rental fees in the area. New Year’s Eve at the BCD? Mohammed Choucair, Chairman of the Itani said: “There is a misconception that the L0218-121 Contact information Chamber of Commerce, Industry, and Ag- value of rent in the downtown is expensive riculture in Beirut and Mount Lebanon, and targets high-income business owners. www.opportunities.com.lb
LEBANON OPPORTUNITIES, FEBRUARY 2018 65 REAL ESTATE NEW RESIDENTIAL PROJECTS
Altus Tower Area Rmeil, Al Khazenaine St. Architect Georges Hakim Developer Icon Development and Altus Tower Company SAL Contractor Icon Contracting Delivery Feb. 2020 Apt. Sizes 95 m² - 110 m² 120 m² - 140 m² - 160 m² 170 m² - 181 m² - 190 m² Price/m² Starting at $3,300 Phone (01) 986.499 - (01) 986.599
Al-Kadi Bldg. Area Ras El Nabeh, Bilal St., behind Mouazzen Architect Hassan Al Hajj Ahmad Developer Hassan Al Hajj Ahmad Contractor Hassan Al Hajj Ahmad Delivery Dec. 2019 Apt. Sizes 112 m² - 210 m² Price/m² Starting at $2,500 Phone (71) 077.563 - (03) 309.826 Caracas 2154 Area Caracas, down the road from Abu Taleb Golf Terraces Architect Rawa Company Area Chiah, Airport Highway, golf view Developer Yasser Noureddine Architect One Invest & Mohamad Chehab & Bros Developer One Invest Contractor Yasser Noureddine Contractor One Invest & Mohamad Chehab & Bros Delivery Feb. 2021 Delivery Apr. 2019 Apt. Sizes 180 m² - 206 m² - 280 m² Apt. Sizes 115 m² 300 m² - 320 m² - 335 m² Price/m² Starting at $4,200 Price/m² Starting at $2,700 Phone (01) 739.150 - (03) 625.451 Phone (01) 824.882 - (03) 000.010
Mazraa 3878 Ras Beirut 2954 Area Mazraa, close to Area Ras Beirut, close to Taadod Club Sakiet El Janzir Square Architect Mohammad Kebbi Architect Dar Al-Omran: Developer Mashaka And Kebbeh Maarouf Makouk Contractor Mashaka And Kebbeh Developer Mahmoud Ibrahim Itani Delivery Feb. 2021 Contractor Mahmoud Ibrahim Itani Apt. Sizes 120 m² Delivery June 2022 Price/m² Starting at $2,300 Apt. Sizes 145 m² Phone (03) 620.820 Price/m² Starting at $4,000 03) 000.819 Phone (03) 887.659
66 LEBANON OPPORTUNITIES, FEBRUARY 2018
REAL ESTATE NEW RESIDENTIAL PROJECTS
Beit El Chaar 879 Biakout 624 Area Beit El Chaar, before Area Biakout, close to ChampVille High School Khoury supermarket Architect Rabih Slaybi Architect Blusky Properties Developer Maroun Moubarak Developer Blusky Properties Contractor Maroun Moubarak Contractor Blusky Properties Delivery Aug. 2018 Delivery Apr. 2019 Apt. Sizes 200 m² Apt. Sizes 110 m² Price/m² Starting at $1,800 Price/m² Starting at $1,600 Phone (03) 221.432 Phone (70) 667.785 (70) 454.525
Daouhet El Hoss 1188 Area Daouhet El Hoss, Al-Kachef St. Architect Rammal Engineering & Contracting Co. Developer Ali Dimachk Contractor Ali Dimachk Delivery June 2019 Apt. Sizes 190 m² - 210 m² 215 m² - 220 m² 225 m² - 235 m² 245 m² Price/m² Starting at $1,650 Phone (70) 981.608
Boutchay 66 Area Boutchay, Kamil Karam area Architect Camile Karam Monthly report on new Developer Camile Karam construction projects Contractor Camile Karam Delivery Dec. 2019 in Lebanon Apt. Sizes 107 m² Price/m² Starting at $1,500 Phone (03) 652.111
Product of Ballouneh 465 Area Ballouneh, close to Saint George Hospital Architect Sisters General Contracting Developer Elie Saad Contractor Elie Saad Delivery Nov. 2019 Apt. Sizes 119 m²- 147 m²- 151 m²- 159 m² For inquiries check: Price/m² $1,500 - $1,600 www.infopro.com.lb/project Phone (04) 710.610 - (03) 901.125 or call (01) 739.777
LEBANON OPPORTUNITIES, FEBRUARY 2018 69
REAL ESTATE COSTS OF CONSTRUCTION
MATERIAL SITE WORKS
BLOCKS (per thousand) WOOD (per m³) EXCAVATION & CLEARING 6 cm $300-$320 Swedish $600-$650 10 cm $340-$370 Mahogany $1,500-$1,600 s General excavation of normal soil including hauling away 15 cm $520-$550 Claire (Douglas Fir Clear) $1,350-$1,500 and dumping of material to municipality-approved pits (in m³) $8-$10 20 cm $7,110-$750 Beech $900-$950 s General excavation of rock including hauling 25 cm $890-$930 Oak (American) $1,425-$1,500 away and dumping of material to municipality-approved Oak (French) $2,350-$2,550 pits using explosives (not exceeding 1 m depth) (in m³) $12-$14 CEMENT (per ton) s Manual excavation for trenches/pits for Portland cement $110 WOOD (per board) foundations in normal soil, average depth 1m (in lm) $14-$16 White cement $220 Laté beechwood s Clearing of site in soft to medium-hard ground including hauling Premixed plaster Okomi (16 mm) $65 away and dumping of material to municipality-approved pits (in m²) $10-$12 (SODAMCO Weber or Okomi (18 mm) $75 equivalent for internal use) $127 FILLING & BACKFILLING (ALL IN M³) SAND (per m³) READY-MIXED CONCRETE (per m3) In 18 m³ tipping truck $16 s Backfilling with approved excavated materials stored on site around In OPC cement in Beirut - 250 kg/cm2 In pickup truck $24 foundations including watering and compaction comp strength $75 (in layers not exceeding 300 mm depth) $8-$10 Ditto, 350 kg/cm2 $81 PEBBLE (per m³) Extra for pump (per visit) $200 In 18 m³ tipping truck $30 SHORING (ALL IN M²) In pickup truck $20 STEEL (per ton) s Diaphragm wall for watertight excavation including Steel reinforcing deformed GLASS (per m²) excavation, tie-back system, and dewatering, 600 mm thick $500-$550 bars – all sizes – fy = 420 Mpa $645 Float clear glass 6 mm $10 s Ditto, 800 mm thick $550-$600 Steel reinforcing mild steel Float clear glass 10 mm $20 s Interspaced pile wall with shotcrete for dry bars – all sizes – fy = 280 Mpa $665 Float tinted reflective glass 6 mm $30 excavation including excavation and tie-back system $375-$425 Reinforced fabric $1,070 Tempered glass 6 mm $20 s 9-Secant pile wall for watertight excavation Structural steel Tempered glass 8 mm $25 including excavation, tie-back system, and dewatering $450-$500 sections ST-37 $800-$850 WATER HEATERS - IMPORTED (per no.) FOUNDATION PILING (DRILLING ONLY) ALUMINUM (per m²) Electric 50 liters (H) $106-$125 Regular façade Electric 80 liters (H) $116-$136 s 10-Micro piles, using hydraulic piling machinery, w/glass 10 cm $150-$250 Electric 100 liters (H) $136-$160 150-250mm diameter (per linear meter of piles) in normal soil $25-$40 Balcony rails Electric & gas (80 liters) $280-$329 s 11-Bored piles, using hydraulic piling machinery, 60-100 cm height $50-$80 Electric & gas (100 liters) $350-$412 500-600mm diameter (per linear meter of piles) in normal soil $40-$55
WORKS
LABOR DAILY RATES IN BEIRUT CONCRETE EXCLUDING STEEL (per m3) Skilled $45-$55 Labor & material Unskilled $20-$25 (including formwork) $140 Labor only $40-$45 ELECTRICAL WORK (per point) Super deluxe – EXCAVATION (per m3) Labor and material $30-$35 Sandy soil $13 Deluxe – Semi-rocky soil $15 Labor and material $26-$29 Rocky terrain $18 * Excluding VAT
LEBANON OPPORTUNITIES, FEBRUARY 2018 71 BUSINESS LIFESTYLE DRESS FOR SUCCESS
Travel and work bags compartments, interior and exterior pockets, and a padded sleeve for laptops. Some of these pockets are made especially for iPads and smart phones, in addition to the classic pockets Light and functional for passports and papers. Ghina Fadel, designer at Pellini, said: “Young employees are now wearing the backpack because they need both hands to work on their smart phones while carrying several items.” The materials from which the bags are made of have changed tremendously as well. Leather is most often used for laptop and cross-body bags. Affordable brands and backpack designers are using nylon. Some bags have water-resistant-coated fabric and a reinforced base to protect the gear inside. Fadel said that brown, navy, and black are the classic colors for work.
TRAVEL BAGS Wheeled luggage was originally created in Palestine to carry weaponry during the Crusades. The term was actually coined from the word ‘lug’, which means ‘to drag’. Almost 700 years later, Louis Vuitton introduced the Steamer Trunk design for long distance travel by ship. The travel bag has since seen major changes to adapt with a traveler’s needs. Duffel bags, of Gucci fame, are carried on wheels or by a large strap over the shoulder. The largest bag that can be carried onto a plane cabin has a length riefcases have undergone major changes in the past 20 of 55 cm. They also come in different sizes. years. In the 1980s, people carried heavy metallic portfolio B cases with a single compartment. Designers rebuilt the WEIGHT AND OTHER SPECS bag from the ground up, changing both the material and shape. Lightweight is the operative word for travel bags. Samsonite These changes were mostly driven by technological advances. boasts its ‘Curv’ technology. “The technology is Samsonite’s Businesspeople are carrying smaller cross-body bags that secret ingredient,” Hanna said. The 55 cm carry-on weighs just were previously widespread only among women. The travel over three kilos. Curv is used in the brand’s Cosmolite line. The bag category also witnessed an evolution in materials. Most bags have specially molded, shell-like ridges that are not only manufactured bags come in hard and soft ‘shells’. They have protective, but also stylish. “This collection is usually used to gained in functionality and lost weight. Milan and Paris fashion keep fragile items inside safe from breaking,” Hanna said. Other weeks for Spring/Summer 2018 featured male models carrying bags are made of ‘soft shells’. The fabric is nylon, polyester, and bags. At the Prada show, they walked down the runway wearing even plastic. People who prefer this fabric are usually looking for the brand’s famous nylon bag. At Louis Vuitton and Dries Van spaciousness. These bags are made up of several outside pockets, Noten, variations of cross-body bags were prominent. zips, and compartments. High-end bags have a warranty for manufacturing defects. Samsonite offers at least an international WORK BAGS three-year guarantee on its bags. The bag can also be fixed They come in different sizes and shapes. A tote bag, for example, and spare parts flown in if needed. Travel bags come in a wide is large and unfastened. It does not have pockets. A messenger variety of colors, to make them easily identifiable at the airport’s bag is worn over one shoulder with a strap that goes across the bag conveyor belt. Even though travel bags have undergone chest resting the bag on the lower back. Some types of messenger many changes, high-end designers promise there is more to bags are called carryalls. A smaller version is often called a sling come. Future changes revolve around integrating technology bag. This design of bag has been used in the transportation of in luggage. They will include smart technology, such as devices mail and goods. The trend among young business executives is that track the bags remotely. In a few years’ time, self-carrying the backpack, which used to be the domain reserved for students. suitcases might even follow their owners around the airport. But the past year has seen a shift. The classic briefcase has seen the most change. Halim Hanna, owner of Halim Hanna and Reported by Yassmine Alieh Company, the sole agent and distributor of Samsonite, said: “The brand was introduced locally in 1968. It was carried by everyone. ON OUR WEBSITE People still love it because of nostalgia.” More information is available by typing the numbers below into the Reference Finder on our home page FUNCTIONALITY AND FABRIC L0218-145 At Louis Vuitton and Dries Van Noten, real men carry purses The bag changed from having only one compartment with small L0218-146 Eight messenger bags you’ll keep for the long haul pockets for pens on one side to a space-efficient carrier. Hanna L0218-147 The evolution of luggage said: “There used to be only one compartment because a lot L0218-148 Contact information of space is needed to store a calculator and large documents.” The bag, especially the briefcase, now comes with several www.opportunities.com.lb
72 LEBANON OPPORTUNITIES, FEBRUARY 2018
BUSINESS LIFESTYLE DRESS FOR SUCCESS
BOSS Reporter bag Pack your bags Italian leather in lightly grained texture Wrap-around zip, oversized external pocket FOR WORK Cow skin $482
BERSHKA Backpack with front zip 48 x 32 x 14 cm. Polyurethane $53
BURBERRY Italian leather Embossed Burberry lettering $868
FENDI BackpackBackp Two top handles,hand drawstring fasteningfasten Leather and nylonny $1,9$1,970 AïsAïshti
MASSIMO DUTTI Embossed Montana crossbody bag Main compartment, two inside pockets, inside zip pocket, front zip pocket Adjustable shoulder strap MONCLER Bovine leather Kino MM $172 Messenger bag Calfskin $707 Aïshti
74 LEBANON OPPORTUNITIES, FEBRUARY 2018 MONT BLANC PELLINI Meisterstück Briefcase Messenger bag Two zipped Italian full grain compartments Main compartment, back pocket Italian leather Pockets for three writing instruments, $245 two pockets Cowhide $1,080
PEPE JEANS Cross bag Shoulder strap with fly zip fastening pocket 25 x 21 cm $53 GS
TUMI TIMBERLAND Harrison briefcase PULL & BEAR Crofton bag Two main compartments Crossbody bag External and internal slip pocket Leather Polyethylene 21.5 x 16.5 x 6 cm $876 $27 Adjustable shoulder strap Polyester $42 GS
LEBANONLEBEBEBANOANOONNO OOPPORTUNITIES,PPPPOPPOORTURTTTUUNNINITITITIESIEIE , FEBRUAFEBRUARY 2018 75
BUSINESS LIFESTYLE DRESS FOR SUCCESS
FOR TRAVEL GUCCI Soft GG Supreme Carry-on duffle bag DELSEY Removable shoulder Belmont strap, double Ultra durable zip leather handles 4 easy-running and quiet wheels Micro-fiber fabric TSA combination lock $1,906 5-year worldwide warranty Aïshti $134 ABC Dbayeh
ZARA Tote bag Two compartments, one zip pocket Detachable shoulder straps 41 x 32 x 8 cm $79
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LEBANON OPPORTUNITIES, FEBRUARY 2018 77 BUSINESS LIFESTYLE BIG BOYS TOYS
Sedan cars 2018 Energetic, smart, and efficient
he newest models of sedans exhibit room for passengers. The basic package ranging from four-cylinders in the C 180, refreshing exterior and interior will be equipped with a 1.5L four-cylinder to six cylinders in the C 400 4MATIC, 3.0L, T designs and innovative technologies turbocharged engine capable of producing which offers more power. Dory Khoury, anticipated to empower an energetic but 250 HP along with a ten-speed automatic Sales Manager at Impex, agent of Cadillac, safer driving experience. The new models transmission gearbox. said that the American auto maker has set feature comprehensive updates ranging a 2.0L displacement as a minimal entry from connectivity, to smart gadgets, and EFFICIENT POWER for its sedans. Manufacturers are using comfort requirements. Such features are Auto makers across the world are all more turbo-charged engines to guarantee becoming a necessity beyond the usual designing better performing cars with better performance. improvements in terms of power and improved fuel consumption, due to environmentally friendly features. Dealers environmental awareness and increasing REFRESHING DESIGNS are shifting the minimum standards for legal restrictions in some countries. Tarek The power of a design is always the first, different sedan categories upwards to meet Badran, Brand Manager at A.N. Boukhater, catchy element. Badran said that Mazda has the clientele’s requirements. Prices remain agents of Mazda, said that they have their followed its specific line design, known in the widely spread. Sedans range between entry- own technology, ‘SKYACTIV-G’, to improve Japanese culture as ‘Kodo’, meaning ‘soul priced models and luxurious icons. the performance of the engine and power of motion’. This gives all Mazda cars similar is increased by 15 percent, while fuel general lines in terms of curves and motion. NEWCOMERS consumption is reduced by 20 percent. The Curvy hoods define the Kia Cerato from the This year, Mercedes Benz will be featuring Nissan Sentra uses a 1.8L displacement front and rear, with coupe-like proportions its new AMG GT4 four-door sedan. The car four-cylinder engine to produce 130 HP. which provide a feeling of motion. Designers is developed from the Formula One track Nissan takes advantage of a transmission are adopting more sporty styles, even with safety car, and is intended to compete with system, known as Xtronic CVT, which the most traditional models, making them other icons such as the Porsche Panamera supports the efficiency of the engine. The appeal to young executives. Jaguar models and the Maserati Gibli. Joseph Jwan, Sales engine of the Toyota Yaris, a top-selling such as the XE and XF are designed to attract Manager at T. Gargour & Fils, agents of small-size sedan, produces 109 HP supported younger generations from both genders, Mercedes Benz, said that this model will by a seven-speed sequential transmission. rather than the traditional businessmen present a striking choice for clients within The engine within the Yaris also combines clientele. The BMW 5-series combines the highest sporty sedan segment. Unicart fuel efficiency and lower emissions, without dynamic elements and the elegant sharpness at Tewtel Group will exhibit the new Honda compromising the acceleration. Moving of its lines and curves to create its business- Accord in March, which provides additional upwards, the Mercedes C-Class has engines mood saloon. Auto makers in this category,
78 LEBANON OPPORTUNITIES, FEBRUARY 2018 3PURZ!*SPJR[OPZHY[PJSL»ZLU[Y`PUº;HISLVM*VU[LU[Z»VUV\Y^LIZP[L such as Audi, refer to their models as saloons. The Audi A6 invests in lines that extend from the headlights to the rear. The horizontal orientation of the lines gives the vehicle a wider and sportier appearance. For the CT6, Cadillac designers have set low posture and long sweeping lines along the sides. Daring elements such as vertical lighting systems and the integrated rear spoiler complement the overall spirit of the CT6. Comfort is inseparable from the design process. Cabins are capable of minimizing noise, whether from the car or the surroundings. The cars can also minimize the effect of frequent bumps in the road. Comfort features include passenger seating and luggage spaces. Most sedans, especially in mid-sized and larger vehicles, allow for larger seats and adaptable sitting positions. TECH-CONNECTED category and exhibit various models. They SAFETY MATTERS Connectivity is an appealing feature for are now targeting higher-level markets. BMW Clients with different needs will not the majority of clients. More auto makers 5-series models are appreciated for their negotiate on safety. Multiple airbags and are aware of this and enhance their selling powerful performance, elegance, and status. decent braking systems are now standard in positions by providing connectivity features, Some drivers would also look for sporty- all sedans. Competition has lifted the criteria said Nader Diab, Sales Manager at Folic looking sedans such as the Subaru WRX and for safety features. Jade Automotive, distributors of WRX STI, appreciating the power within the Ayoub, Marketing Manager Ford. Mazda has its own MZD hoods and the Japanese style. Executives at RYMCO, the distributor Designers are connect system on the middle and businessmen are traditionally attracted of Nissan, said that the of the dashboard to increase to German high-end models. Clients within minimum safety requirement adopting sporty visibility without distracting this category require more beauty, comfort, for entry-level cars at Nissan styles, even the driver. Bluetooth and and luxury. Full-sized luxury sedans are is the availability of an Anti- hands-free phone and in demand, but they cater to different lock Braking System (ABS) with the most audio capabilities are in categories of clients. Luxury sedans such as and two airbags. Nissan also high demand as a lifestyle the Mercedes Benz S-Class and Audi A8 are integrates an Electronic traditional requirement across different favored by wealthier clients who may have Brake Force Distribution models age brackets. Touch controls drivers. Clients in such categories are getting (EBD) system to send extra make their first appearance more options, especially from traditional braking force to the rear on the steering wheel of the German automakers. Jwan said that there wheels. Vehicle Dynamic Control (VDC) E-Class. They act as a smartphone interface is a trend among young businessmen who detects a deviation from your intended path and allow the driver to control the entire demand the short-wheel base S-Class as they and automatically applies the brakes to help infotainment system without having to take enjoy driving it themselves rather than using the Nissan Sentra return to its proper course their hands off the steering wheel. a driver. Sporty performance vehicles seem to of movement. Mazda approaches safety with be highly appreciated among top-level clients a standard number of airbags, a minimum RANGE OF REQUIREMENTS as they can take on a wide range of different of two for entry-level sedans, and with an Clients demand varied criteria for their daily uses. improved structural design to create a safe sedan, based on their family situation, zone for passengers, said Badran. Cadillac practical requirements, and socio-economic Reported by Samer Rasbey has ABS and stability braking systems in all image. The primary sedan buyer would be sedans. The body design of Cadillac models seeking a small family car for the streets ON OUR WEBSITE also includes a ‘safety cage’ where doors of a city. Such a category is well-served by More information is available by typing the numbers protect the passenger area in case of accident. traditional Japanese suppliers, including below into the Reference Finder on our home page Mercedes Benz has its Collision Preventions Toyota’s Yaris and Corolla and Nissan’s L0218-132 A good sedan offers the best Assist as a standard in all sedan models to Sentra and Sunny. The allocated budget for combination of affordability assist the driver in situations where they a small family sedan is always a limiting L0218-133 Sneak peek forbes 2018 have been inattentive. The Pre-Safe system, factor in the selection process. Safety in L0218-134 The best new also standard in Mercedes Benz models, terms of airbags is uncompromised in family cars arriving in 2018 prepares the car when sensing irregular road scenarios, and sits alongside passenger L0218-135 Contact information situations. It can be upgraded to Pre-Safe seating and trunk space needs. Korean Plus, which prevents threats from the rear. automakers became the main players in this www.opportunities.com.lb
LEBANON OPPORTUNITIES, FEBRUARY 2018 79 BUSINESS LIFESTYLE BIG BOYS TOYS
New and refreshed 2018 sedans
BMW 530i 2.0L four-cylinder, twin-power turbo, 252 HP Eight-speed automatic transmission Starting price $86,000
BMW 730Li 2.0L four-cylinder, twin turbo, four-valve technology, 252 HP Eight-speed automatic transmission Starting price $140,000
KIA Optima 2.4L inline four-cylinder, 185 HP Six-speed automatic transmission Starting price $33,300
INFINITI Q50 2.0L four-cylinder turbo-charged engine, 208 HP Seven-speed automatic transmission with optional manual mode Starting price $43,900 including registration
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. automarket.com.lb FREE OF CHARGE
80 LEBANON OPPORTUNITIES, FEBRUARY 2018 :[HY[PUNWYPJLZPUJS\KPUN=(;
KIA Stinger 2.0L turbocharged inline four-cylinder, 255 HP Also available in 3.3L twin turbo, six-cylinder, 370 HP Eight-speed automatic transmission Starting price $62,100
LEXUS IS 300 2.0L four-cylinder inline, turbo, 241 HP Eight-speed sport direct shift gearbox Starting price $51,060
MAZDA 3 2.0 L four-cylinder, 152 HP Six-speed tiptronic transmission Starting price $27,900
LEXUS ES 350 3.5L six-cylinder, 24-valve, 275 HP Six-speed sequential-shift automatic Starting price $72,150
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. automarket.com.lb FREE OF CHARGE
LEBANON OPPORTUNITIES, FEBRUARY 2018 81
BUSINESS LIFESTYLE BIG BOYS TOYS :[HY[PUNWYPJLZPUJS\KPUN=(;
SUBARU WRX 2.0L four-cylinder, DOCH 16-valve, 268 HP Eight-speed Lineartronic Continuously Various Transmission Starting price: $49,800
SUBARU Impreza 2.0L four-cylinder, 156 HP Continuously Various Transmission Starting price: $27,600
TOYOTA Corolla 1.8L, Dual VVT-IDOCH, 16-valve, 138 HP Seven-speed Continuously Various Transmission, automatic ECO mode and sport-mode function gearbox Starting price: $18,815
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. automarket.com.lb FREE OF CHARGE
LEBANON OPPORTUNITIES, FEBRUARY 2018 83 BUSINESS CALENDAR FORTHCOMING EXHIBITIONS
Name Topic Organizers Venue Date
Forum of Employment opportunities and Oraunion Forum de Beyrouth Feb. 21-25 Opportunities Lebanese University open doors and Resources
Edex Career trends, student orientation, Promofair BIEL Mar. 1-4 seminars, hi-tech education platform
Bloom Fashion accessories, fine jewelry, Gata Events ABC Dbayeh Mar. 17-22 and home accessories & Promotions
Beirut International Seminars, workshops, networking opportunities, Promoteam Phoenicia Hotel Apr. 23-25 Property Fair and discussions related to the real estate industry
SmartEx Management information system, MICE Lebanon Forum De Beirut Apr. 25-28 security, automation, retail, and telecom
Jamaloukicon Beauty and fashion experts, Promofair BIEL Apr. 26-28 networking, and shopping opportunities
Beirut Boat Yachting companies, superyacht builders and IFP Group Beirut Marina May 9-13 designers, nautical suppliers, and marine activities
Designer’s Week Fashion accessories, jewelry, Gata Events Zaytouna Bay May 9-13 home decor, and furniture & Promotions
Gata Events & Promotions MICE Lebanon Promofair Badaro Street Sami El Solh, Badaro Accaoui Street, Ashrafieh Mobile: (03) 207.380 Tel: (01) 976.902, Fax: (01) 976.798 Tel: (01) 561.600, Fax: (01) 561.605 Tel: (01) 322.177 [email protected] [email protected] [email protected], www.gata.pro www.micelebanon.com www.promofair.com.lb
IFP Oraunion Promoteam Hazmieh, Jeser el Basha Armenian Catholicosate Mar Mitr, Ashrafieh Tel: (05) 959.111, Fax: (05) 959.888 of Cilicia Street, Antelias Tel: (01) 339.050, Fax: (01) 339.060 [email protected] Tel : (04) 403.352 [email protected] www.ifpexpo.com [email protected], www.oraunion.org www.promoteam-ltd.com
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84 LEBANON OPPORTUNITIES, FEBRUARY 2018 BUSINESS CALENDAR FORTHCOMING CONFERENCES
Name Date Venue Contact Description
Rotary Presidential Feb. 16-18 Phoenicia Hotel Rotary International District 2452 Water concerns and water Peacebuilding Tel: +357 99662118 projects in the Middle East Conference [email protected] www.rotaryd2452.org
ArabNet Beirut Feb. 20-22 Hilton Habtoor ArabNet Digital transformation forum, Grand Hotel Tel: (01) 658.444 financial technologies, trends [email protected] in the technology sector, news.arabnet.me workshops, and competitions
Future Health Mar. 2-3 Hilton Habtoor Al-Iktissad Wal-Aamal Group Modern techniques and Grand Hotel Tel: (01) 740.173/4 procedures in surgeries, digital [email protected] medical devices, artificial www.iktissadevents.com intelligence, remote operations, and modern plastic surgeries
Oil & Gas in Mar. 29-30 Hilton Habtoor Al-Iktissad Wal-Aamal Group Highlighting the legal and EastMed Forum Grand Hotel Tel: (01) 740.173/4 regulatory environment of oil- [email protected] and gas-related activities, and www.iktissadevents.com identifying business opportunities for the private sector
Sécurité et Qualité Apr. 5-7 Chamber of Lebanese University, Discussions about the problems des produits Commerce, Industry Faculty of Public Health and solutions related to food- agroalimentaires – & Agriculture of Tripoli Tel: (01) 686.322 safety issues SQUAD & North Lebanon [email protected] www.ul.edu.lb
Lebanon International Apr. 24-25 Hilton Habtoor Global Event Partners Insights into oil and gas Oil & Gas Summit Grand Hotel Tel: +44 1737 760 990 opportunities for companies www.gep-events.com and investors [email protected]
Health Insight Apr. 26-27 Le Royal Hotel MCE Group for Congresses and Exhibitions Pharmaceutical and food Tel: (09) 900.110 supplements industries, [email protected] networking opportunities www.mcegroup.net
International Academic May. 3-4 Lebanese University, Lebanese University, Faculty of Studies, insights, and views Conference on Economics Hadath Campus Economics and Business Administration about all aspects of economics and Business Tel: (03) 520.856 and business research [email protected] www.fdmcongress.ul.edu.lb
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LEBANON OPPORTUNITIES, FEBRUARY 2018 85 CALENDAR INTERNATIONAL TRADE EXHIBITIONS AND CONFERENCES
AGRICULTURE
AgraME Crop farming, animal farming, Mar. 6-8 Informa Exhibitions E www.agramiddleeast.com quaculture, and animal health Dubai www.informaexhibitions.com
CAC Pesticides, fertilizers, seeds, production and Mar. 7-9 CCPIT Sub-council E www.cacshow.com packaging equipment, and crop-protection equipment Shanghai of Chemical Industry www.ccpitchem.org.cn
CONSTRUCTION AND DESIGN
BATIMAT Products and services in the building industry Mar. 1-4 Arabian German E www.batimat-egypt.com Cairo for Exhibition & Publishing www.arabian-german.com
The Big 5 Saudi Mechanical, electrical, and plumbing Mar. 5-8 dmg events E www.thebig5saudi.com services, construction tools and building Jeddah www.dmgeventsme.com services, and building interiors and finishes
Middle East Coatings Show Raw materials used in paint production, Mar. 19-21 dmg events E coatings-group.com printing inks and other related industries Dubai www.dmgeventsme.com
DOMOTEX Asia/CHINAFLOOR Wood flooring, bamboo and cork flooring, Mar. 20-22 VNU Exhibitions Asia E www.domotexasiachinafloor.com flooring technology, carpets, and carpet technology Shanghai www.vnuexhibitions.com.cn
ENERGY AND ENVIRONMENT
GEO Oil and gas exploration technology Mar. 5-8 UBM AEM / AAPG E geo2018.com and services in the Middle East Manama www.aemallworld.com C www.aapg.org
Middle East Electricity Power generation, transmission and distribution, Mar.6-8 Informa Exhibitions E www.middleeastelectricity.com lighting, solar, energy storage, and management solutions Dubai www.informaexhibitions.com
FASHION AND COSMETICS
MOMAD Shoes Footwear and accessories Mar. 2-4 IFEMA www.ifema.es Madrid www.ifema.es E
Vendôme Luxury High-end women’s wear and Mar. 2-5 Vendôme Luxury www.vendomeluxury-paris.com lifestyle, accessories, couture, and fine jewelry Paris www.vendomeluxury-paris.com E
China International Beauty Expo Perfumery and cosmetics Mar. 10-12 All-China Federation www.chinainternationalbeauty.com Guangzhou, of Industry & Commerce E China www.chinachamber.org.cn
FOOD AND BEVERAGE
World Olive Oil Exhibition Variety of olive oils from Mar. 21-22 Pomona Keepers E www.oliveoilexhibition.com the world’s main producing countries Madrid www.oliveoilexhibition.com
E: Exhibitions C: Conferences
86 LEBANON OPPORTUNITIES, FEBRUARY 2018 FURNITURE AND HOUSEHOLD CONSUMABLES
Home Furnishing Window curtains, towels, table cloths, Mar. 7-10 Tarsus E Expo Shenzhen textiles, and decorative fabrics Shenzhen, www.tarsus.com www.hometexexpo.com China
China International Home furniture, outdoor furniture, office Mar. 18-21 China Foreign Trade Centre E Furniture Fair furniture, commercial furniture, hotel furniture Guangzhou, www.cftc.org.cn www.ciff-gz.com and furniture machinery and raw materials China
HEALTH
ArabLab Laboratory technology, biotechnolgy, and seminars Mar. 18-21 The Arab Lab Group E www.arablab.com Dubai www.arablab.com C
HOSPITALITY AND TOURISM
International F&B, serviced apartments, Mar. 5-7 Questex E Hotel Investment Forum resorts, security and crisis management, Berlin www.questex.com C www.berlinconference.com wellness, and innovative deal structures
ICT
Infosecurity Middle East Solutions, innovations, and techniques Mar. 6-8 Reed Exhibitions E www.infosecurityme.com in cybersecurity, workshop presentations, Abu Dhabi www.reedexpo.com C and live demonstrations
INDUSTRIAL GOODS AND MACHINERY
Metal & Steel Middle East Steel fabrication, metal works, Mar. 1-4 Arabian German E www.metalsteelegy.com and related industrial machinery Cairo for Exhibition & Publishing www.arabian-german.com
Dubai WoodShow Wood, wood accessories, Mar. 12-14 Strategic Marketing E dubaiwoodshow.com and woodworking machinery industry Dubai and Exhibitions strategic.ae
Istanbul Hardware Fair Electrical appliances and accessories, mechanical hand Mar. 15-18 Voli Fuar E istanbulhardwarefair.com tools, welding machines, and compressors Istanbul voli.com.tr
PACKAGING AND PRINTING
Riyadh International Book Fair Seminars, lectures, poetry Mar. 14-24 Ministry of Culture E riyadhbookfair.org.sa readings and cultural activities Riyadh and Information www.moci.gov.sa
E: Exhibitions C: Conferences
LEBANON OPPORTUNITIES, FEBRUARY 2018 87 BUSINESS TO BUSINESS LISTINGS
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88 LEBANON OPPORTUNITIES, FEBRUARY 2018 CLASSIFIED ADS REAL ESTATE CLASSIFIED
APARTMENTS FOR SALE
ALEY HADATH close to Al-Atrash super- Premium renovation and construction services market. 150 m². 2 bedrooms, 1 liv- UNDER $100,000 ing room, 1 dining room, 2 bath- BAAWERTA Kreidly Project. rooms, 1 parking space. $250,000. Contact us 110 m². 2 bedrooms, 1 living room, Hadi Al-Ashi (70)761.944 To discuss the scope of services you need, or to get a quote 1 dining room, 2 bathrooms, 1 park- ing space. $65,000. Sanaa Jamaled- HADATH opposite Lebanese Uni- Hamra Str. – Piccadilly Center – 2ndÁRRU dine (79)138.845 versity-Faculty of Sciences. 100 m². 32%2; %HLUXW²/HEDQRQ 2 bedrooms, 1 living room, 1 dining 2IÀFH (+961-1) 749.459 | Fax (+961-1) 74.90.90 BCHAMOUN close to Anas Bin room, 1 bathroom, 1 parking space. UHQRYDWH#UHQRYDWHFRPOE|ZZZUHQRYDWHFRPOE Malek mosque. 92 m². 2 bedrooms, $110,000. Elie (03)066.960 1 living room, 2 bathrooms, 1 park- ing space. $95,000. Riad Zinni HARET HREIK close to Al-Bayan (71)545.203 high school. 173 m². 3 bedrooms, 1 living room, 1 dining room, 3 bath- LAND FOR SALE ALEY rooms, 2 parking spaces. $185,000. $100,000 - $250,000 Mouin (03)635.218 AMCHIT 50 meters from Jbeil- BCHAMOUN Schools area, oppo- HARET HREIK behind Al-Jawad ALEY Batroun highway. 680 m². $295,000. site the municipality garden. restaurant. 160 m². 2 bedrooms, KEYFOUN close to the Water Bechara Youssef (03)790.995 130 m². Super deluxe. Decorated. 1 living room, 1 dining room, 2 Tanks. 835 m². $250,000. Jinane 3 bedrooms, 1 living room, 1 din- bathrooms. $130,000. Ibrahim El- Hodroj (03)648.573 EDDEH villa area, close to Eddeh ing room, 2 bathrooms, 1 parking Khansa (70)916.185 minimarket. 600 m². Nice view. space. $145,000. Mahmoud Assi $240,000. Pascale (03)201.234 (03)812.833 KFARCHIMA Haret Bdeir street, BAABDA close to Karkafi monastery. 165 m². HADATH behind Regie. 850 m². $1 HALAT close to Sakr project. BCHAMOUN Zohour area, close 3 bedrooms (1 master), 1 living million. Tony (03)001.489 862 m². Sea and mountain view. to Ghalayini minimarket. 110 m². room, 1 dining room, 4 bathrooms, $225,000. Dr. Barakat (03)378.236 Fully renovated. Decorated. 2 1 maid’s room, 2 parking spaces. bedrooms, 1 living room, 1 dining $250,000. Roy Nohra (03)064.661 BEIRUT RAS OSTA close to the munici- room, 2 bathrooms, 1 parking space. MAZRAA close to Makassed Gen- pality. 793 m². Sea view. $100,000. $130,000. Diala (70)770.747 KFARCHIMA close to the Arts and eral Hospital. 404 m². An old con- Chadi Matar (76)301.603 Athletics Club. 130 m². Half-Fur- struction included. $1.73 million. DOHAT ARAMOUN close to the nished. Sea and mountain view. Bahaa (71)000.040 Statue. 225 m². 3 bedrooms (1 mas- 2 bedrooms, 1 living room, 1 din- KESROUAN ter), 1 living room, 1 dining room, 3 ing room, 2 bathrooms, 2 parking RAS EL NABEH Omar Bin Khat- ADONIS Sannour area, close to Al- bathrooms, 1 maid’s room, 2 park- spaces. $150,000. Fadi (03)439.352 tab street. 445 m². $7,500/m². Mahaba monastery. 3,112m². Nice ing spaces. $1,000/m². Hicham Zou- Nirmine Jamaleddine (71)539.263 view. $112/m². Marwan (70)608.066 bian (03)800.606 LAILAKI main road, close to Al-Aytam gas station. 160 m². 3 KFARDEBIAN Qalaa area, close to BAABDA bedrooms, 1 living room, 1 dining SHOUF Sainte Lourdes church. 9,020 m². room, 2 bathrooms, 1 parking space. JDEIDET EL CHOUF close to Mountain view. $1.1 million. Samer UNDER $100,000 $140,000. Aya (76)861.672 Anwar Fatayri palace. 1,454 m². Salameh (70)842.057 KAFAAT behind Imam Khomeini Mountain view. $180/m². Anwar school. 95 m². 1 bedroom, 1 living LAILAKI close to Lebanese Univer- (78)855.820 RAYFOUN 100 meters from Klay- room, 1 bathroom. $60,000. Ahmad sity-Faculty of Sciences. 100 m². 2 aat highway. 643 m². $450,000. Joumaa (03)640.381 - (01)275.678 bedrooms, 1 living room, 1 dining KETERMAYA behind Al-Hejjaoui Joelle Harika (03)716.961 room, 2 bathrooms, 1 parking space. gas station. 1,200 m². $100,000. BAABDA $130,000. Hasan (03)868.133 Ahmad Younes (71)264.855 METN $100,000 - $300,000 MCHARAFIEH close to Bank Audi. KFARNIS close to Nabeh El MROUJ 200 meters from Mrouj AIN EL ROUMMANEH opposite 170 m².Renovated. 3 bedrooms, 1 Safa. 2,000 m². Sea and mountain square. 1,000 m². A 110 m² con- the Civil Defence. 90 m². 2 bed- living room, 1 dining room, 2 bath- view. $200,000. Georges Khoury struction included. $450,000. rooms, 1 living room, 2 bathrooms. rooms, a common parking space. (71)122.556 Antoine Kharrat (81)820.530 $115,000. Elie Bagosly (03)345.639 $155,000. Mr.Makki (03)013.900
BOURJ EL BRAJNEH Al-Sayyad MREIJEH close to the police sta- JBEIL NORTH area, opposite Al-Sayyad Bakery. tion. 135 m². 3 bedrooms, 1 living AIN JREIN villa area. 4,000 m². Sea DEDE Qalmoun highway. 150 m². 3 bedrooms, 1 living room, 1 room, 1 dining room, 2 bathrooms, and mountain view. $130/m². Peter 67,000 m². Sea view. $100/m². dining room, 2 bathrooms, 1 parking 1 parking space. $145,000. Hasan Souhaid (03)129.423 Mohammad Al-Ayoubi (76)154.289 space. $120,000. Rima (03)805.027 Hennaoui (03)672.419
U p g Apartments Commercial Land Brokers r a dedd ed Matching platform for property BUYERS&SELLERS
LEBANON OPPORTUNITIES, FEBRUARY 2018 89 CLASSIFIED ADS REAL ESTATE CLASSIFIED
ROUEISS opposite Al-Raed high KOREITEM close to Lebanese DEBBIYEH close to Zein Al-Atat. METN school. 145 m². 3 bedrooms, 1 living American Univesity. 100 m².Reno- 180 m². 3 bedrooms, 1 living room, room, 1 dining room, 2 bathrooms, 1 vated. 1 bedroom, 1 living room, 1 dining room, 3 bathrooms, 1 park- $100,000 - $250,000 parking space. $140,000. Ramzi Abi 1 dining room, 2 bathrooms. ing space. $150,000. Naaman Nas- BIAKOUT main road, close to the Haidar (03)796.202 $375,000. Bassil Dakak (03)231.955 rallah (70)692.903 square. 110 m². 2 bedrooms, 1 living room, 1 dining room, 2 bathrooms, 1 BAABDA BEIRUT DEBBIYEH opposite to Al-Nour parking space. $150,000. Christine mosque. 140 m². 3 bedrooms, 1 liv- (03)907.271 OVER $300,000 OVER $500,000 ing room, 1 dining room, 2 bath- HAZMIEH Mar Takla, 200 meters HAMRA close to Le Mozart hotel, rooms, 1 parking space. $110,000. DBAYEH up the road from 7UP, from former Embassy of France. behind Sainte Rita church. 150 m². Robert (71)721.162 close to Friends supermarket. 160 m². Decorated. 3 bedrooms, 1 3 bedrooms (1 master), 1 living 120m². 2 bedrooms, 1 living room, 1 living room, 1 dining room, 3 bath- room, 1 dining room, 4 bathrooms, KFARHIM close to Europa car dining room, 2 bathrooms, 1 parking rooms, 2 parking spaces, a 200 m² 1 maid’s room, 1 parking space. showroom. 160 m². 3 bedrooms, 1 space. $200,000. Manal (70)647.550 garden and terrace. $400,000. $550,000. Ikhlas Jaber (01)744.115 living room, 1 dining room, 2 bath- Jamal Fayad (03)667.007 rooms, 2 parking spaces. $175,000. NEW RAWDA opposite Emile RAOUCHE close to Shoppers. Fouad Rachid (71)777.081 Lahoud sports stadium. 150 m². 3 TAYOUNEH old Saida road, oppo- 250 m². 3 bedrooms (1 master), bedrooms (1 master), 1 living room, site Beirut Mall. 150 m². 3 bedrooms 2 living rooms, 1 dining room, 4 JBEIL 1 dining room, 3 bathrooms, 1 park- (1 master), 2 living rooms, 1 dining bathrooms, 1 maid’s room, 1 park- ing space. $230,000. Patrick Khoury room, 3 bathrooms, 1 parking space. ing space. $800,000. Mustapha $100,000 - $200,000 (03)054.877 $350,000. Hussein Al-Moussawi (76)635.877 OBEIDAT close to Mar Eusebius (03)790.246 church. 127 m². Furnished. Deco- METN TARIK EL JDIDEH opposite Bei- rated. 2 bedrooms, 1 living room, 1 $250,000 - $500,000 BEIRUT rut Arab University. 360 m². 4 dining room, 2 bathrooms, 1 park- bedrooms, 1 living room, 1 dining ing space. $135,000. Mike Hanna ANTELIAS close to Francis car $100,000 - $300,000 room, 3 bathrooms. $525,000. Rabih Youssef (70)641.463 showroom. 145 m². Furnished. Sea BARBOUR close to Al-Khalia Ghader (70)759.828 and mountain view. 3 bedrooms, 1 Al-Saudia mosque. 124 m². 2 bed- JBEIL living room, 1 dining room, 2 bath- rooms, 1 living room, 2 bathrooms. NORTH-EASTERN SUBURBS rooms, 1 parking space. $285,000. $130,000. Hiba (71)572.864 OVER $200,000 Emile Najjar (03)552.192 $100,000 - $300,000 HBOUB close to Horizon resort. BARBOUR Eben Khaldoun street. DEKOUANEH close to Abu Adal. 303 m².Sea view. 5 bedrooms FREIKEH Mar Takla street, close 110 m². 2 bedrooms, 1 living room, 106 m². 2 bedrooms, 1 living room, 1 (4 master), 2 living rooms, 1 din- to Mar Takla church and Amine 1 dining room, 2 bathrooms, com- dining room, 2 bathrooms, 1 parking ing room, 4 bathrooms, 2 parking Rihani museum. 142 m². Duplex. mon parking space. $200,000. Raed space. $163,000. Nadine (03)715.059 spaces, a 12 m² terrace. $330,000. Sea and mountain view. 3 bed- (70)416.305 Rodrigue (03)937.051 rooms (1 Master), 1 living room, SOUTHERN SUBURBS 1 dining room, 4 bathrooms, 2 BARBOUR Shbaro Bldg., 1$ Store JBEIL close to the Army Memorial parking spaces. $330,000. Robert junction. 100 m². 2 bedrooms, 1 $100,000 - $300,000 statue. 183 m². 3 bedrooms, 1 living (76)106.100 living room, 1 dining room, 2 bath- MAAMOURA Imam Ali street, room, 1 dining room, 2 bathrooms,2 rooms, 1 maid’s room, common Maamoura pharmacy junction. parking spaces. $210,000. Fadi Abi MANSOURIEH Blata area, close to parking space. $220,000. Hussein 131 m². 3 bedrooms, 1 living room, 1 Ramia (70)227.935 KFC. 272 m². Duplex. 4 bedrooms Khalifeh (03)757.378 dining room, 2 bathrooms, 1 parking (3 master), 1 living room, 1 dining space. $135,000. Samer (70)688.986 KESROUAN room, 4 bathrooms, 1 maid’s room, NOUEIRI above Future pharmacy. $100,000 - $500,000 2 parking spaces. $365,000. Pierre 110 m². 2 bedrooms, 1 living room, SHOUF Maalouf (03)982.226 2 bathrooms. $160,000. Ahmad Sar- AJALTOUN close to Antonine won (76)726.775 UNDER $100,000 school. 200 m². 3 bedrooms (1 mas- MEZHER close to Homenetmen AIN W ZEIN close to Ain W Zein ter), 2 living rooms, 1 dining room, basketball club.200 m². Decorated. RMEIL Khalil Badawi street, close hospital. 180 m². 3 bedrooms (1 3 bathrooms, 2 parking spaces, a 4 bedrooms (1 master), 1 living to Mandaloun. 55 m². Furnished. 1 master), 2 living rooms, 1 dining 50 m² terrace. $220,000. Claude room, 1 dining room, 4 bathrooms, bedroom, 1 living room, 1 bathroom. room, 2 bathrooms, 1 parking space. Kortbawi (03)839.618 1 maid’s room, 2 parking spaces. $130,000. Maral (70)931.302 $100,000. Rabih (71)605.056 $290,000. Mr. Mizag (71)866.226 RAYFOUN Rayfoun old road, villa WATA EL MOUSSEITBEH Wah- DEBBIYEH close to Al-Nour area. 300 m². Sea and mountain NACCACHE main road, close to hab Bldg., close to Halabi mini- mosque. 110 m². 2 bedrooms, 1 liv- view. 3 master bedrooms, 2 liv- Charcuterie Aoun. 210 m². Sea market. 71 m². 1 bedroom, 1 living ing room, 1 dining room, 2 bath- ing rooms, 1 dining room, 4 bath- and mountain view. 3 bedrooms room, 1 bathroom. $130,000. Samar rooms, 1 parking space. $80,000. rooms, 1 maid’s room, 2 parking (1 master), 1 living room, 1 dining Haidar (71)946.860 - (05)431.709 Bilal Dakak (03)892.465 spaces. $350,000. Gaby Hachem room, 3 bathrooms, 1 maid’s room, (03)132.931 2 parking spaces. $485,000. Naim BEIRUT SHOUF (71)718.771 ZOUK MIKAEL up the road from $300,000 - $500,000 OVER $100,000 Sayidat Al-Maonat church, oppo- RABWEH Street #12, Fleure Ville CARACAS close to Hani House BAASIR after Si Bella pharmacy. site Abi Ghanem center. 130 m². 2 Project. 174 m². 3 bedrooms (1 hotel. 160 m². 3 bedrooms, 1 living 118 m². 2 bedrooms, 1 living room, bedrooms, 1 living room, 1 dining master), 1 living room, 1 dining room, 1 dining room, 2 bathrooms, 1 dining room, 2 bathrooms, 1 park- room, 2 bathrooms, 1 parking space. room, 3 bathrooms, 1 parking space. 1 parking space. $420,000. Fares ing space, a 40 m² terrace. $125,000. $100,000. Cynthia Abi Ghanem $300,000 (unfurnished) - $325,000 (03)492.969 Khaled Sabra (70)845.914 (70)145.775 (furnished). Salim (03)346.169
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90 LEBANON OPPORTUNITIES, FEBRUARY 2018
CLASSIFIED ADS REAL ESTATE CLASSIFIED
HAMRA Sadat Street. 165 m². 3 GHADIR close to Sainte Rita bedrooms (1 master), 1 living room, church. 155 m². Sea and mountain APARTMENTS 1 dining room, 3 bathrooms, 1 maid’s view. 3 bedrooms, 1 living room, 1 room, 1 underground parking space. dining room, 2 bathrooms, 1 park- $2,000/month. Yasser (03)829.986 ing space. $600/month. Antoine FOR RENT (03)786.698 HAMRA Sadat Street. 135 m². 2 bedrooms, 1 living room, 1 dining KASLIK 200 meters to the right KFARCHIMA close to Karkafi mon- room, 2 bathrooms, 1 maid’s room. of USEK. 90 m². Furnished. Sea ALEY astery. 150 m². Furnished. 3 bed- $1,300/month. Rima (03)926.248 view. 1 bedroom, 1 living room, BCHAMOUN Schools area, Tal Al- rooms, 1 living room, 1 dining room, 1 bathroom. $700/month. Marie Qamar project. 160 m². Sea and 2 bathrooms, 1 parking space. $800/ HAMRA close to AUB. 80 m². 2 (03)247.231 mountain view. 3 bedrooms (1 mas- month. Samia (70)914.011 bedrooms, 1 living room, 1 bath- ter), 1 living room, 1 dining room, 3 room. $800/month. Mr. Tamim MAIROUBA opposite Montana bathrooms, 1 parking space. $600/ (70)992.851 hotel. 90 m². 2 bedrooms, 1 living month. AbdelMajid (71)122.462 BEIRUT room, 1 bathroom, 1 parking space. AIN EL MREISSEH Dabbous KASKAS close to Khajechkhi $400/month (summer season) - BCHAMOUN Schools area. 150 m². street, behind Radisson Blu hotel mosque. 105 m². 2 bedrooms, 1 living $350/month (winter season). Joseph 3 bedrooms, 1 living room, 1 din- and Al-Arabia Insurance. 140 m². room, 1 dining room, 2 bathrooms, 1 Arab (76)422.231 ing room, 2 bathrooms, 1 parking 2 bedrooms (1 master), 1 living parking space. $700/month. Iman space. $500/month. Nabil Hamadeh room, 1 dining room, 3 bathrooms, Ismail Hamoudeh (76)004.089 SAHEL ALMA close to Frem villa. (03)685.398 1 underground parking space. 350 m². Duplex. 4 bedrooms (3 mas- $18,000/year. Mrs Bitar (03)744.734 MALLA Istiklal street. 210 m². ter), 3 living rooms, 1 dining room, 6 DAOUHET ARAMOUN close to 3 bedrooms (1 master), 2 living bathrooms, 1 maid’s room, 2 park- La Cime 3 high school. 170 m².Sea ASHRAFIEH Artist Loft Bldg. rooms, 1 dining room, 4 bathrooms, ing spaces. $1,200/month. Salim view. 3 bedrooms (1 master), 1 living 170 m². 2 master bedrooms, 1 living 1 maid’s room, 1 parking space. Taouk (03)148.809 room, 1 dining room, 3 bathrooms, room, 1 dining room, 3 bathrooms, $1,200/month. Saeed (03)449.469 1 parking space. $550/month. Hus- 2 underground parking spaces. SHEILEH Street #104. 160 m². sein Jaber (70)098.710 $2,000/month. Danielle (71)831.743 MAR ELIAS close to Fakhani. Fully furnished. 2 bedrooms, 1 liv- 75 m². Furnished. 2 bedrooms, 1 ing room, 1 dining room, 2 bath- SHOUEIFAT Al-Oumara project, ASHRAFIEH Mar Mikhael area, living room, 1 dining room, 1 bath- rooms, 1 parking space. $1,200/ close to Coca Cola factory. 115 m². close to Electricité du Liban. 90 m². 1 room. $1,150/month. Mrs Hennaoui month. Chady Deeb (71)707.559 2 bedrooms, 1 living room, 1 din- bedroom, 1 living room, 1 bathroom. (01)646.393 ing room, 2 bathrooms, 1 park- $550/month. Nazih (03)829.307 TABARJA above Maronite project. ing space. $400/month. Mrs. Zaher RAS BEIRUT Itani Street, close 155 m². 3 bedrooms, 1 living room, 1 (71)442.296 BADARO close to Ogero. 200 m². to Pain d’Or. 150 m². 3 bedrooms dining room, 2 bathrooms, 1 park- 3 bedrooms (1 master), 1 living (2 master),1 living room, 1 din- ing space, a 60 m² garden. $500/ room, 3 bathrooms, 1 parking space. ing room, 3 bathrooms, 1 parking month. Elie Bakhos (03)632.246 BAABDA $1,900/month. Manal (70)907.333 space. $1,300/month. Mrs. Itani FURN EL SHEBBAK opposite the (71)398.029 ZOUK MIKAEL below Boueiz pal- Civil Defence. 140 m². 3 bedrooms, BOURJ ABI HAIDAR close to the ace. 100 m². 1 bedroom, 1 living 1 living room, 1 dining room, 2 COOP. 210 m². 3 bedrooms, 2 liv- WATA EL MOUSSEITBEH room, 1 bathroom, 1 parking space. bathrooms, 1 parking space. $800/ ing rooms, 1 dining room, 3 bath- Bustani street, Mazen pharmacy $500/month. Johnny (70)006.549 month. Nasri Asmar (03)450.552 - rooms. $700/month. AbdelKader junction. 150 m². 3 bedrooms, (03)193.019 (70)985.144 1 living room, 1 dining room, 2 ZOUK MOSBEH close to Maronite bathrooms, 1 parking space. $800/ Court. 150 m².Super deluxe. Sea HADATH above Bata, below Anto- BOURJ ABI HAIDAR close to Zaa- month. Nabil El-Jurdi (03)737.532 view. Furnished. 2 bedrooms (1 mas- nine University. 130 m². 2 bedrooms, tari supermarket. 120 m². 2 bed- ter), 1 living room, 1 dining room, 3 1 living room, 1 dining room, 2 bath- rooms, 1 living room, 1 dining room, bathrooms, 1 parking space. $800/ rooms, 1 parking space. $450/month. 2 bathrooms. $700/month. Moha- JBEIL month. Jean (81)662.377 Georges Mouawad (03)691.841 mad AbdelHadi (78)800.296 JBEIL 200 meters from Antonine school. 60 m². 1 bedroom, 1 living ZOUK MOSBEH opposite Byblos HADATH close to the police sta- CLEMENCEAU close to Sagesse room, 1 bathroom, 1 parking space. Bank. 120 m². 2 bedrooms, 1 living tion, opposite Beit la Beit gallery. high school. 185m². 3 bedrooms, 1 $200/month. Charbel (71)418.871 room, 1 dining room, 2 bathrooms, 55 m². 1 bedroom, 1 living room, living room, 1 dining room, 4 bath- 1 parking space. $700/month. Joe 1 bathrooms. $320/month. Zeina rooms, 1 maid’s room. $18,000/year. (03)282.040 (79)176.910 Ahmad (03)746.695 KESROUAN ADONIS close to La Morena super- ZOUK MOSBEH Mar Elias street. HARET HREIK close to Phoenix CORNICHE MAZRAA close to market. 165 m². Sea and mountain 118 m². 2 bedrooms, 1 living room, high school. 185 m². 3 bedrooms AbdelNasser mosque. 100 m². 2 bed- view. 3 bedrooms, 1 living room, 1 1 dining room, 2 bathrooms, 1 (1 master), 1 living room, 1 dining rooms, 1 living room, 2 bathrooms. dining room, 2 bathrooms, 2 park- parking space. $600/month. Laudy room, 3 bathrooms, 1 parking space. $650/month. Mrs. Hammoud ing spaces. $600/month. General (03)148.079 - (09)210.416 $650/month. Mohamad (70)751.758 (76)925.781 Joseph Habchi (03)344.767 ZOUK MOSBEH close to Yas- HAY EL SELLOM close to Al- GEITAWI close to Domino’s Pizza. BALLOUNEH close to Mar Nkoula souh El-Malak monastery. 90 m². 2 Hakim football field. 80 m². 2 110 m². 2 bedrooms, 1 living room, church. 180 m². 3 bedrooms, 1 living bedrooms, 1 living room, 1 dining bedrooms, 1 living room, 1 bath- 1 dining room, 2 bathrooms, 1 park- room, 1 dining room, 3 bathrooms, 1 room, 1 bathroom, a 90 m² ter- room. $350/month. Ali Al-Masry ing space. $900/month. Georges maid’s room, 1 parking space. $600/ race. $600/month. Antoine Massaad (70)962.795 Kassis (03)766.769 month. Roland Attieh (03)228.981 (03)150.117 - (70)708.336
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92 LEBANON OPPORTUNITIES, FEBRUARY 2018 room, 1 dining room, 2 bathrooms,1 METN parking space. $600/month. Johnny AOUKAR C1600 street, close to Baghdoian (03)937.272 APARTMENTS Charmland. 235 m². 3 bedrooms, 2 living rooms, 1 dining room, 3 bath- FANAR opposite Fanar gas sta- rooms, 1 maid’s room, 2 parking tion. 200 m². 3 bedrooms (1 master), FOR SALE OR RENT spaces. $1,250/month. Raffi Mer- 1 living room, 1 dining room, 4 dinian (03)362.229 bathrooms, 1 maid’s room, 1 park- ing space. $10,000/year. Rita Hoyek BAABDAT close to Baabdat square. (03)217.812 ALEY METN 180 m². 3 bedrooms, 1 living room, 1 BCHAMOUN 50 meters from BSALIM close to Mar Geryes dining room, 2 bathrooms, 2 park- FANAR close to Bonjus. 119 m². Green Land Flowers. 300 m². church. 210 m². Super deluxe. ing spaces, a garden and terrace. 2 bedrooms, 1 living room, 1 din- Duplex. 3 master bedrooms, 2 living Sea and mountain view. Deco- $600/month. Elias (76)144.155 ing room, 2 bathrooms, 1 parking rooms, 1 dining room, 6 bathrooms, rated. 3 bedrooms (1 master), 2 space. $600/month. Camille Jarjour 1 maid’s room, 1 parking space. living rooms, 1 dining room, 3 bath- BEIT EL CHAAR Mar Elias street, (70)587.265 $325,000 or $850/month. Khodor rooms, 2 parking spaces. $350,000 close to Saint Michel supermar- (78)869.487 or $1,000/month. Mahboub Aoun ket. 160 m². 3 bedrooms, 1 living JAL EL DIB 400 meters from Byb- (03)321.166 room, 1 dining room, 2 bathrooms, 2 los Bank, Harboyan Bldg., Bloc parking spaces. $550/month. Joseph C. 250 m². Sea view. 3 bedrooms, KESROUAN DAHR EL SOUAN 400 meters Jemayel (03)280.248 2 living rooms, 1 dining room, 4 ZOUK MIKAEL President Tanios from Bhannes hospital. 170 m². bathrooms, 1 maid’s room, 1 park- Khoury street. 225 m². 4 bedrooms Nice view 3 bedrooms, 1 liv- BIKFAYA close to Halim bookstore. ing space. $850/month. Mrs. Rosie (1 master), 2 living rooms, 1 dining ing room, 1 dining room, 3 bath- 130 m². 2 bedrooms, 1 living room, (03)689.408 room, 4 bathrooms, 1 maid’s room, rooms, 1 parking space. $200,000 1 dining room, 2 bathrooms. $ 850/ 1 parking space. $275,000 or $800/ or $700/month. Nada Akkawi month. Mrs. Saliba (03)807.893 JDEIDEH close to Mar Takla month. Jihad Ghanem (03)130.170 (03)274.042 church. 70 m². 1 bedroom, 1 living BROUMMANA close to Broum- room, 1 dining room, 1 bathroom. mana high school. 180 m².Mountain $500/month. Abou Fadi (70)315.192 view. 2 bedrooms, 2 living rooms, 1 VILLAS FOR SALE dining room, 2 bathrooms, 2 park- MANSOURIEH close to Wakim Pal- ing spaces. $ 9,000/year. Nabil Arsan ace. 185 m².Furnished. 3 bedrooms, (03)449.576 1 living room, 1 dining room, 2 bath- rooms, 3 parking spaces. $1,200/ CHOUF METN BSALIM close to the municipality. month. Marcel Abi Aad (03)876.406 DAMOUR 100 meters from the BAABDAT close to Calibri Hotel 160 m². Super deluxe. Panoramic municipalit. 375 m². Triplex. 4 bed- junction. 860 m². Triplex. 5 bed- view. 3 bedrooms (1 master), 1 living MANSOURIEH Blata area, behind rooms (2 master), 2 living rooms, 1 rooms (1 master), 3 living rooms, 1 room, 1 dining room, 2 bathrooms, KFC. 180 m². 3 bedrooms (1 mas- dining room, 4 bathrooms, 1 maid’s dining room, 6 bathrooms, 1 maid’s 1 parking space. $700/month. Hay- ter), 1 living room, 1 dining room, 3 room, 4 parking spaces. $350,000. room, 4 parking spaces, swimming tham Rizk (03)226.218 bathrooms, 1 parking space. $750/ Charbel (03)093.050 pool. $1.30 million. Collette Khoury month. Charbel (70)981.565 (03)937.349 BSALIM Roueiss street, Sami Haykal Bldg. 110 m². 2 bedrooms, MANSOURIEH close to Fresh Food JBEIL BROUMMANA Mar Chaaya area, 1 living room, 1 dining room, 2 supermarket. 30 m². Furnished. 1 RAS OSTA Salameh restaurant close to the COOP. 800 m².Qua- bathrooms, 1 parking space. $600/ bedroom, 1 living room, 1 bath- junction. 550 m². Quadruplex. 5 druplex. 9 bedrooms (3 master), month. Souad (70)113.997 room, unlimited parking spaces. master bedrooms, 2 living rooms, 1 3 living rooms, 1 dining room, 9 $400/month. Marcelino El-Hajj dining room, 7 bathrooms, 1 maid’s bathrooms, 1 maid’s room, 4 park- DAYCHOUNIEH Val Verde project. (03)712.216 room, 6 parking spaces, a swimming ing spaces. $1.7 million. Georges 114 m². Furnished. Mountain view. pool. $850,000. Wissam (03)902.061 Khoury (03)333.092 2 bedrooms, 1 living room, 1 dining MAZRAAT YACHOUH close to room, 2 bathrooms, 1 parking space. Mar Maroun church. 130 m². Sea $500/month. Diala (76)487.212 - view. 2 bedrooms, 1 living room, 1 (01)692.661 bathroom, a 40 m² terrace. $500/ COMMERCIAL month. Fayed (03)471.255 DBAYEH up the road from 7UP, close to Babel restaurant. 120m². SID EL BAUSHRIEH 50 meters SPACE FOR RENT Renovated. Fully furnished. 2 above Mar Youssef church. 110 m². bedrooms, 1 living room, 1 dining Furnished. 2 bedrooms, 1 living room, 2 bathrooms, 1 parking space. room, 1 dining room, 2 bathrooms, $1,000/month. Dany (03)001.305 1 parking space. $750/month. Elias OFFICES STORES Ayoub El-Hajj (03)381.632 HAZMIEH Jisr El Bacha road, DORA opposite Halim bookstore DEEK EL MEHDI close to the Dynagraph Bldg. 180 m². Open junction. 30 m². 1 bathroom, a municipality. 180 m². 3 bedrooms, ZEKRIT Residence Glen Proj- space, 1 bathroom, 1 parking space. 10 m² mezannine. $350/month. 2 living rooms, 1 dining room, 3 ect, close to Jardins d’Aphrodite. $46,500/year. Youssef (03)775.030 Serge (03)901.943 bathrooms, 1 parking space. $650/ 105 m². Duplex. Furnished. 2 bed- month. Adel Bilal (76)331.371 rooms, 1 living room, 1 dining room, SIN EL FIL close to the municipal- FURN EL SHEBBAK opposite 2 bathrooms, 1 parking space, a ity. 50 m². Open space. 1 bathroom, Wooden Bakery. 130 m². 2 floors, 1 ELISSAR close to KIA. 120 m². common swimming pool. $700/ 1 parking space. $1,000/month. bathroom, 1 parking space. $28,000/ Furnished. 2 bedrooms, 1 living month. Rita Harb (03)420.649 Christine (03)424.495 year. Yolande (03)256.708
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LEBANON OPPORTUNITIES, FEBRUARY 2018 93 CLASSIFIED ADS REAL ESTATE CLASSIFIED
HAZMIEH Mar Takla. 140 m². Dec- orated. 1 bathroom. $3,000/month. WAREHOUSES AbdelRahman Rabaa (03)399.045 ADONIS close to Lycee du Ville. CHALETS FOR SALE 300 m². 1 office. 1 bathroom. 1 MAR MIKHAYEL close to Enab parking space. $700/month. Samia Restaurants. 60 m². 1 bathroom. Roumy (76)644.811 FAQRA Les Villettes de Faqra. rooms, 1 living room, 2 bathrooms, $2000/month. Maroun (70)887.474 100 m². Duplex. 2 master bedrooms, 1 kitchenette, 1 parking space. KASKAS close to Mayor Saadel- 1 living room, 4 bathrooms, 1 maid’s $220,000 or $1,300/month. Mr. El- RAS BEIRUT close to Lebanese dine Edelbi residence. 120 m².1 room, 2 parking spaces, a 60 m² Far (70)766.650 American University. 136 m². 1 office. 1 bathroom. 1 parking space. garden included. $350,000. Joe bathroom. $3,500/month. Moha- $600/month. Mahmoud Jabboury (70)541.341 FEYTROUN Satellity I. 110 m². 2 mad Al-Ajouz (03)314.488 (71)157.708 bedrooms, 1 living room, 1 dining FAQRA Sky Zone, close to Faqra room, 2 bathrooms, 1 underground monuments. 90 m². Decorated. 2 parking space. $220,000. Melhem bedrooms, 1 bathroom, 1 kitchen- Saber (03)493.301 COMMERCIAL ette, 1 parking spaces. $280,000. Jean (03)607.080 JEITA Jeita Country Club. 80 m². 1 bedroom, 1 bathroom, 1 parking SPACE FOR SALE FARAYA SnowLand resort, oppo- space. $10,000. Raymond Abboud site Classic Burger. 100 m². 2 bed- (71)292.308
bathroom, 2 parking spaces. STORES $150,000. Mohamad Soubra BOURJ HAMMOUD Armenia (03)066.457 CHALETS FOR RENT street. 55 m². 1 bathroom, 1 kitchen- ette. $175,000. Ohanes (03)324.832 NAHR IBRAHIM seaside road, close to United gas sta- HRAJEL Moussa Zogheib junc- living room, 1 bathroom, 1 under- DEKOUANE close to Big tion. 55 m². 1 parking space. tion. 140 m². Duplex. 3 bedrooms, ground parking space. $700/month. Sale.150 m². 2 bathrooms, 1 kitch- $430,000. Georges Ghanem 1 living room, 1 dining room, 1 Jean-Claude El-Hajj (76)708.030 enette. $150,000. Gaby (03)280.520 (03)775.878 bathroom, 2 parking spaces. $500/ month. Charbel Yaghi (70)878.863 KASLIK Samaya resort. 30 m². 1 SARBA New Jounieh street, close NEW RAWDA close to Mallat gas bedroom, 1 living room, 1 bath- to the Armenian church. 90 m². 1 station. 355 m². 3 offices, 1 bath- JBEIL close to Mina Jbeil. 35 m². room, 1 kitchenette, 1 parking bathroom, 1 kitchenette. $220,000. room, 2 parking spaces. $325,000. Furnished. 1 bedroom, 1 bathroom, space. $450/month (Jan-May). Jean Gilbert (03)095.348 Mrs.Wafaa (03)370.671 1 kitchenette, unlimited park- Younes (71)131.581 ing space. $350/month. Ghassan SANAYEH close to Sanayeh (03)726.254 LAQLOUQ Snow Bird resort. WAREHOUSES public garden. 310 m². 1 parking 60 m². 1 bedroom, 1 bathroom, 1 DEKOUANE main road, behind space. $2,000/m². Samer Arnaout KASLIK Samaya resort. 40 m². kitchenette, 1 parking space. $4,500/ Ata Kitchen & Bar. 180 m². 1 (70)606.364 Furnished.Sea view. 1 bedroom, 1 year. Hasan Amiri (03)931.395 TO PLACE YOUR AD HERE
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and procedures. Government dec- ACCOUNTING/FINANCE laration (VAT, tax NSSF). Email: EDITORIAL MANAGER. Responsible for content generation ACCOUNTANT for Armtech [email protected] and the well-running operation of a team of journalists Choueifat. Three years’ experi- publishing in English and Arabic. Proven track record ence in general accounting. BA in SENIOR ACCOUNTANT for Falco in a similar situation required. Accounting or related field. Email: Sales & Distribution. Four to six [email protected] years’ experience. BA in account- SENIOR EDITOR. To copy-edit, sub-edit, and write stories in ing or finance from a reputable English for Lebanon Opportunities and other in-house publications. ACCOUNTANT for Blueberry university is a must. Excellent VAT, Full-time, onsite position. Native English language proficiency and Capital Inc. Five years’ experience Tax, NSSF laws and computation demonstrable extensive editing experience are required. in F&B is a must. BA in Account- skills. Excellent reporting skills and ing or related field. Knowledge in Microsoft Excel skills is a must. JOURNALIST. Good writing skills in English and/or Arabic. salary taxation. Familiar with Dol- Email: [email protected] Analyze and write business and economics features. phin Software. Email: e.abouabsi@ blueberrycapitalinc.com with MARKET RESEARCH PROJECT MANAGER. Senior project ‘Accountant position’ in subject. ADMINISTRATION manager. Experience in quantitative and survey-based analysis. STORE SUPERVISOR for Pas- Good communication and proposal/report writing skills. ACCOUNTANT for Issa Holding. canoush Kaslik. Ten years’ expe- BA or MA degree in business, economics, or equivalent from Three years’ experience. Holder rience. Proven successful experi- a reputable university. of a bachelor’s degree in business ence as a retail manager. Holder administration with emphasis in of a bachelor’s degree. Powerful MARKETING. Responsible for implementing marketing finance or accounting. Experience leading skills. Strong organiza- initiatives including events, advertising, public relations, points in Visual Dolphin is a plus. Email: tional skills. Good communication of sale, and brand management. Minimum five years’ experience. [email protected] and interpersonal skills. Email: [email protected] Degree in business administration from a prime university. ACCOUNTING for Kermezian Good communication skills in English and Arabic. Group. Ten years’ experience with COMMERCIAL DIRECTOR for SALES ACCOUNT MANAGER. Several years’ experience in an overall knowledge of account- Abed Tahan. Ten years successful ing software. BA in Account- commercial management experi- business-to-business sales. Good knowledge of the local market. ing or related field. Must be flu- ence. Master’s degree in Manage- TELESALES. Good communication skills and sales experience. ent in English and Arabic. Email: ment, Marketing, Business, Com- [email protected] merce, or a related field. Manage and oversee the commercial team. ACCOUNTANT for M1 Services. Develop and implement commer- Three years’ accounting experi- cial strategies according to com- Fax CV to (01) 74.90.90 or e-mail: [email protected] ence. BA in Accounting or related pany’s goals and objectives aiming field. Assist in the preparation of to accelerate sales growth. Email: monthly financial statements (bal- [email protected] Set up and perform testing on mate- fications , control and site supervi- ance sheet, cash flow, bank position, rials, parts, or finished products, sion. Email: [email protected] income statement). Knowledge in PROFESSOR for AUL. Five to measure product performance Lebanese taxation law is a must. years’ experience. PhD or DBA in under a variety of conditions. Email: MECHANICAL OR ELECTRI- Knowledge in IFRS is a plus. Email: Business Administration. Email: [email protected] CAL ENGINEER for Nini Hospi- [email protected] [email protected] tal Tripoli. Ten years’experience in electro-mechanical field. University ACCOUNTANT for Professional RESTAURANT/BAR MAN- ENGINEERING degree, Master’s degree in mechani- Learning Center. Three years’ expe- AGER for Movenpick Hotel Bei- CIVIL ENGINEER PRODUCTION cal or electrical engineering. Holder rience. BA in Accounting or related rut. Seven years’ experience. Bach- for Mega Prefab Batroun. Three of a syndicate affiliation. Previ- field. Master’s is a plus. Interper- elor’s degree in hospitality. Oversee years ‘ experience. Bachelor’s degree ous experience in maintenance of sonal and Time Management Skills. the daily operations for efficient in Civil Engineering. Plan and MEP systems is required. Email: Ability to work under pressure. operations. Establish operational supervise the production process [email protected] Email: [email protected] strategies to meet quality and cus- till delivery at the factory. Optimize, tomer service standards. Email: improve, and control method state- PRODUCTION SUPERVISOR SENIOR ACCOUNTANT for Fair [email protected] ments, quality of work and products. for Mediane Zahle. Five years rel- Trade Lebanon. Five to ten years’ Email: [email protected] evant experience. Mechanical or experience. Holder of a bachelor‘s QUALITY CONTROLLER for Tec- industrial degree. Ensures that degree. Reconcile periodically the man Industry. Five years’ experi- MECHANICAL ENGINEER for the production of goods meets bank accounts, suppliers, sub-led- ence. Holder of a BS in Chemistry. CREAD. Five years’ experience on efficiency and quality standards. gers accounts, accruals accounts. Carry out quality control tests for hospitals projects in Lebanon is a Accountable for the achieve- Maintain files and documentation incoming row materials and finished must. Holder of a Mechanical Engi- ment of production schedules, systematically and accurately in products. Maintain data sheets for neering degree. Assist architect on yield, and product quality. Email: accordance with the filing policies paints, glue, and chemical products. a hospital project, for B.O.Q. /speci- [email protected]
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CLOUD INFRASTRUCTURE COMMUNICATION PLAN- pany is located in Ghazieh. Email: HUMAN RESOURCES ARCHITECT for Netways. Ten NER for M&C Saatchi. Five years’ [email protected] with ‘Market- HR BUSINESS PARTNER for years’ relevant industry experience experience in a strategic and cre- ing Officer KP’ in subject. Zaatar w Zeit. Five years’ experience providing solution architecture and ative planning role. Holder of a in HR. Bachelor’s degree in Human consulting. BS or BA degree in Com- bachelor’s degree. Innovator who RETAIL MARKETING & PRO- Resources Management or related puter Science or related Field. Help develops communication and digi- DUCTION SPECIALIST for OMT. discipline. Expertise in HR policies drive Hybrid Cloud and identity tal strategies. Up-to-date on digi- Four to seven years of experience and procedures. Strong knowledge of infrastructure solutions. The role tal trends and technologies. Email: in retail marketing and production hiring processes. Assess and antici- requires deep technology exper- [email protected] field, development of promotional pate HR-related needs seeking to tise, advanced analysis skills, and items, and marketing materials. develop integrated solutions and a understanding of the cloud mar- DIGITAL COMMUNITY MAN- Production experience is a must. responsible for performing HR- ket to define appropriate customer AGER for Beesline. Five to seven Bachelor degree in Business Admin- related duties on a professional level. solutions, scope, and estimate the years’ experience to run E-com- istration with emphasis in Market- Main responsibilities: Employee effort. Provide technical leadership merce projects. Bachelor’s degree in ing, Public Relations, Advertising, relations, performance manage- in sales pursuits and solution deliv- Marketing or a related field. Email: or a related field. Responsible for ment, onboarding, policy implemen- ery. Email: [email protected] [email protected] administering and implementing tation, and recruitment. Email: marketing resources and materi- [email protected] DIGITAL MARKETING MAN- als. Build collaborative work- MARKETING AGER for Fido Advertising and ing relationships with marketing HR & QUALITY MANAGER for BRAND MANAGER for Hamra Marketing. Three years’ experi- suppliers to leverage marketing Medix distribution Zgharta. Five Shopping and Trading. Three years’ ence. Bachelor’s degree in Mar- influencing resources for a strong years’ HR experience. Experience experience as Brand Manager. Bach- keting or related field. Creating brand preference and presence. in Quality is a plus. Holder of a elor’s degree in Business or a related content calendars and commu- Responsible for the preparation, bachelor’s degree. Develop the HR field. Email: [email protected] nications materials for all social procurement, and production of activity and oversee all its aspects. media channels. Creating, manag- marketing related materials. Email: Human resources planning, imple- BUSINESS DEVELOPMENT MAN- ing, and growing the company’s [email protected] mentation, and monitoring. Email: AGER for In Touch Holding. Three presence on Facebook, Instagram, [email protected] to five years’ experience. BA in Com- Twitter, and other online plat- SENIOR DIGITAL COMMUNI- puter Science, Business Manage- forms. Using Google Analytics CATION OFFICER for Group ment, Business Administration, or and other measurement tools to CCM. Three to five years’ expe- IT related field. Responsible for the provide reports on metrics, and rience in digital communica- IT MANAGER for Fawaz Holding. smooth running of the client’s continually find ways to improve tion. Perfect English. Email: Seven years’ experience in software accounts and the art material’s pro- on those metrics through test- [email protected] & hardware maintenance . Master’s duction, as well as the management ing and new initiatives. Email: Degree in Computer Technology or of client relationships. Supervising [email protected] SOCIAL MEDIA EXPERT for related field. Responsible for over- development or project management Yeprem Jewellery. Five years’ all strategic planning, organizing, teams in Web and Mobile industry. HEAD OF SOCIAL MEDIA for professional working experience and execution of all IT functions: Development experience is a plus. Publiscreen Online. Five years’ in social media marketing or as Hardware and software mainte- Email: [email protected] experience. Bachelor’s degree in a digital media specialist. BS in nance, training and consultation, Marketing or related field. Over- Communications, Marketing, and recommendations. Email: BUSINESS DEVELOPMENT see the social media strategy Business, New Media, or Public [email protected] MANAGER for Leading Leba- ensuring it aligns with the brand. Relations. Excellent consulting, nese Company dealing with Inno- Engaging with customers through writing, editing (photo/video/text), ORACLE DATABASE ADMIN- vative IP Video Surveillance and the use of social media. Email: presentation, and communica- ISTRATOR for Integrated Digital Security Products. Three years’ [email protected] tion skills. Demonstrable social Systems. Five years’ experience. BS experience. Holder of a Bachelor’s networking experience and social in Computer Science or Computer degree. Implement and execute MARKETING OFFICER for analytics tools knowledge. Knowl- Engineering degree is a plus. Create business development strategy. Kamaplast Industrial Co. Three edge of online marketing and good and maintain databases required Establish objectives and develop years’ experience in Marketing understanding of major market- for development, testing, educa- strategy for key or new accounts and Sales, with excellent skills in ing channels. Fluency in English, tion, and production usage. Email: forecast and target planning. Email: research and Microsoft. BA in Mar- Arabic, Armenian is a plus. Email: [email protected] [email protected] keting or related field. The com- [email protected]
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96 LEBANON OPPORTUNITIES, FEBRUARY 2018