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Hajj Hassan calls for easier EU procedures for Lebanese exports

26-10-2016

The Minister of Industry, Dr. Hussein Hajj Hassan, disclosed yesterday that a debate is currently underway to review the partnership agreement with the European Union based on the principles of friendship and Lebanon’s economic interest. Hajj Hassan was speaking during a meeting with the Ambassador of the European Union, Christina Lassen, and a delegation of the European Commission visiting Lebanon to discuss the initial report by his ministry, in cooperation with other competent ministries and departments, on the evaluation of said agreement. The minister pointed out that the country is witnessing a drastic economic crisis that was aggravated with the Syrian refugee problem that caused the country losses reaching nearly USD 10 billion in the past few years according to World Bank figures. Hajj Hassan, while lamenting that the received aid and loans to alleviate the burden of the refugees do not exceed USD 2 billion, said he was disappointed from the partnership agreement which was expected “to boost exports but which did not happen.” “Lebanon does not demand that the EU accept to import products that are not up to the standards,” he said, adding that neither Lebanon “approves a production that does not observe the international and Lebanese specifications.” However, he noted that a key solution for redressing the present unfavorable social and economic situation lies in achieving higher exports, particularly to Europe, and in the facilitation and acceleration of the process involved. Lebanon, the minister maintained, seeks an increase in exports of certain sectors, such as technology, clothing, food and medicine products. (Al Diyar, An Nahar, October 26, 2016)
 
 

 

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International business accelerator conference in Lebanon

26-10-2016

The Bank of Lebanon is organizing its third annual international conference on startups under the title, ‘Bank of Lebanon Business Accelerator Conference’ this November 3 at Forum De Beyrouth. The theme of the 3-day event is ‘innovation: entrepreneurship inside the big companies and entrepreneurships in general’, and creating diversity in an interactive dynamic venue.  It will host start-up enterprises and big corporations coming to showcase their leading edge innovations. A lifted platform has been especially designed for the occasion which will include inspiring lectures and debates. The conference is expected to hit a new record for similar events organized in the Mediterranean region, for it will receive influential figures and managers of companies in the technology industry, in addition to experts in innovation from around 195 cities in 52 countries from around the world. The conference is also expected to attract more than 20,000 guests, including over 1,000 participants, 4,000 professionals, 3,000 entrepreneurs, and 2,000 students. On this special event, the director of the Central Bank’s Governorship, Marianne Howayek, disclosed that the Bank has since mid-August 2013 embarked on a policy to motivate commercial banks on investment in startups, and has, to this effect, issued the Circular No. 331 related to the support of the knowledge-based economy. As part of its efforts to highlight the importance of similar enterprises, Howayek stated, the Bank of Lebanon has decided to organize this conference and associated exhibition. (Al Diyar, October 26, 2016)
 

 

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Government pledges on exports of apples not yet fruitful amidst the emergence of private initiatives

26-10-2016

Since the recent promises voiced by the minister of agriculture, Akram Shehayeb, to find new outlets for exports of apples particularly to Jordan, Egypt and Russia (c.f. http://bit.ly/2eacYHm), have not been realized, a number of individual and social initiatives are offering partial solutions to the crisis. In this respect, Al Diyar newspaper raised questions as to whether the government has traded its efforts to assist exports with an earlier compromise put forward by the Cabinet (LBP 5 thousand per apple crate or box).  In the same vain, the head of the Union of North Metn Municipalities, Mirna Murr Abu Sharaf, announced yesterday that the Union has decided to purchase a considerable amount of the local Metn apple produce estimated at 250 tons (equivalent to 11 thousand boxes) under the motto ‘Apples of Upper Metn are apple for all the Metn’. In the same spirit, the municipality of Byblos organized a 3-day apple festival (from October 21-23) that showcased, beside the fresh apple produce, all kinds of apple-made items, like vinegar, sweets, pies, molasses, juices and jams, and received a wide turnout. In the Beqaa, East Lebanon, businessman Michel Daher disclosed on Friday his plan to set up a factory for the manufacture of apple juice in the area in order to contribute to the marketing of some 30 thousand tons of the fruits (representing nearly 17% of Lebanon’s total production). Negotiations, Daher said, are underway with the industry minister to obtain the required permits to begin construction works expected to finish by summer 2018. Similarly, the Holy Spirit University of Kaslik organized last Friday a 4-day event under the theme ‘Love Lebanon, Support Apple Farmers’. Likewise, the Investment Development Authority of Lebanon IDAL announced during a press conference last week the launch of a factory for processing apple chips in Jezzine, the South. On this occasion, the president of Elie Rizk Foundation, one of the factory founders, stated that IDAL will provide the feasibility studies needed for the USD 4-5 million worth of project. He called on local investors to partake in the investment which will create jobs for dozens of graduates from Jezzine. (Al Mustaqbal, An Nahar, Al Akhbar, Al Diyar, October 15, 18, 20, 22, 26, 2016)
 
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Economic optimism in Lebanon with the nearing of Presidential election

25-10-2016

An atmosphere of optimism has hit the Lebanese financial markets last week with the imminent presidency elections planned for the end of this month. In this respect, Solidere stocks continued to skyrocket since the end of last week rising by 19% in only 2 days. The electronic Al Joumhouriya portal reported a significant turnout on purchasing local stocks, particularly Solidere stocks of categories A and B. On the same subject, financial expert, Dr. Gazi Wazneh, disclosed last week that economic economy in 2017 will be better than the previous year, with an expected 2.5% rise against less than 1% currently, as well as the performance of the main economic sectors, namely tourism, real estate investment and consumption. Commenting on the predictable détente after the presidency elections, Wazneh explained that the key component of the 2017 economy will be the positive economic indicators in the event of formation of a new government in the few weeks that follow the election of the president, and consequently, will be less positive if no cabinet is formed. He stressed that in either case, the economy will be  promising next year. The first positive indicator for the presidential breakthrough, Wazneh expounded, is the increase in the size of trading exchange in the Beirut Stock Exchange and the enhanced price in Solidere stocks, in addition to the overall improvement in the circles of investors, business people, and owners of economic institutions. As to the pressing economic priorities for the foreseeable future, Wazneh defined them as follows: Adopt the 2017 general budget to reduce the growing fiscal deficit and public debt; approve the oil and gas related decrees; boost growth; improve relations between Lebanon and the Arab Gulf states; intensify contacts with the outside world to attract the aid needed to alleviate the burden of the Syrian refugee on Lebanon, and finally, resolve the chronic problem of electricity. (The Daily Star, Al Mustaqbal, October 20, 24, 2016)
 

 

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Lebanon Opportunities awards to promote business innovation

25-10-2016

The monthly business magazine, Lebanon Opportunities, organized last week its annual conference under the headline, ‘Innovation in Entrepreneurship’, which also saw the distribution of 8 prizes to distinguished entrepreneurships. The general manager of the mother company Info Pro, Ramzi Hafez, pointed out that the event seeks to communicate success stories pertaining to Lebanese establishments to other institutions, which is the aim of Lebanon Opportunities since its launching in 2003 . The winners for the category of small enterprises are: Mangomolo, a live streaming and VOD (video on demand) platform provider for broadcasters; for the category of entrepreneurship training: The Lebanese British Center for Technological Exchange; for hospitality: Beyt guesthouse; the product of the year: Atelier Assal; the trademark of the year: Beirut Beer; publicity campaigns: Byblos Bank; General services: the Real Estate Survey. As for public institutions, the winner this year was: EDZ (Electricite de Za7leh), 24 hour electricity provider since 2015. In the same vein, Hafez revealed the setting up of the Green Business Club to motivate companies to observe ecological and environmental standards. The announcement coincided with the accession of some 400 businesses to the so-called ‘Green Document’ launched by Lebanon Opportunities back in 2011. (L’Orient Le Jour, October 20, 2016)
 

 

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Banana, citrus, olive, potato and grapes all in recession after wheat, apple and 3arsal fruits

20-10-2016

In the wake of protests by apple and wheat growers and 3arsal farmers, which resulted in the cabinet offering financial compensation, farmers across the Lebanese have started demanding equal treatment, and solutions to the marketing crisis, an end to foreign competition, and the re-opening of the borders with Syria. To be noted that the marketing crisis which is endemic, is compounded by government incapability to halt illegal trade. Thus, citrus and banana farmers of South Lebanon staged a sit in at Abul al Aswad district, Saida, in protest against the export activity and to demand to be treated like apple farmers, while appealing to Lebanese officials and Syrian authorities to allow the entry of Lebanese bananas to the neighboring country> for his part, MP Kazem Kheir, also drew the attention to the aggravated situation of citrus farmers in Minyeh and Akkar for the same reasons mentioned above. Olive growers in Akkar also blocked the Halba-Arqa road this week in protest of the invasion of what he termed as imported but poor quality olive oil, asking the Higher Relief Council (HRC) to compensate for their losses similar to the apple and fruit growers in other areas. Protests also reached olive farmers located in the southern border villages, Kura and North Lebanon areas. Meanwhile, the General Trade Union of Cooperative Association in Lebanon asked the government to commission HRC for purchasing 500 thousand crates of olive oil directly from farmers at favorable prices in compensation for part of their losses. Similarly, potato growers of Akkar staged a demonstration at the premises of the Cooperative Association for Potato Growers in Halba, for the same reasons. Furthermore, grapes growers in Rashayya and Marj Kfarmeshkif in West Beqaa criticized the high cost associated with maritime export and their inability to provide the large quantity needed for viable shipping. (An Nahar, Al Diyar, As Safir, October 14, 15, 18, 19, 20, 2016)
 

 

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Lebanon’s real estate market is stagnant but still standing

18-10-2016

The Lebanese real estate sector presently suffers stagnation despite the high 30% discount incentives, at time when prices of property remain unchanged, An Nahar daily reported today, according to the real estate experts Raja Makarem and vice president of the Builders Association, Atef Dagher, who basing their information on a recent study by Ramco for Trading and Contracting, pointed out that real estate dealers have not adjusted their present prices since last year. Makarem explained that the high incentives do not apply to small apartments which have witnessed greater demand, but rather on the 200-250 km square flats, adding that there are currently some 400 new buildings under construction. While pointing to the absence of Arab Gulf dealers, either buying or selling, Makarem attributed the slump to the unstable political and economic situations in the country. “Nevertheless the real estate sector is still standing, but for how long can it remain resilient,” Makarem questioned. For his part, Dagher made clear that the real estate sluggishness extends to all Lebanon and is not restricted to any particular region. On the other hand, the Bank Audi Research Department completed a report under the heading ‘a narrow fluctuation in prices amidst a slight slowdown in a market which has recently witnessed a slow activity as a result of internal political disputes and the continuing unrest in neighboring Syria.’ The report has shown that the real estate sector is still relatively and satisfactorily stable despite the general tension, similar to the banking and monetary sectors which have demonstrated an outstanding steadfastness in the past years. According to Bank Audi weekly monitor, the average value of sales as declared in the real estate department in the first 8 months of 2016 increased to USD 130,807, recording increases across Lebanon, most notably in the South. On the other hand, figures published by the General Directorate of Real Estate for the first 8 months of 2016, indicated that the property market has seen a slight rise in transactions which reached nearly a total of USD 5.3 billion, against USD 5,059 billion for the same period of 2015. The total number of sales operations registered was 40,507 deals. (Al Akhbar, An Nahar, October 17, 2016)

 

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Rashayya-3anjar environment corridor moves forward

18-10-2016

With the support of the Lebanon Reforestation Initiative (LRI) funded by USAID and implemented by the US Forest Service, the Social and Environmental Corridor Planning Committee for Rashayya launched last Saturday its 10-year environmental strategic plan to enhance the ecological conditions and expand the area’s green cover. The action plan embraces a number of goals, namely: reforestation, forest fire prevention, awareness campaigns, forest management, eco-tourism, capacity building and communication planning. Present at the launch event were, USAID representative, Elias Haddad, in addition to representatives of the involved associations and mayors of some 13 municipalities targeted by the Corridor action plan namely, Rashayya, Kfardanis, Kawkaba, Ain Arab, Majdal Balhis, Mdawakha, Rafid, Bakka, Dahr el Ahmar, Anjar, Mhaidseh, Khirbit Ruha and Bireh. In his speech, Elias Haddad stressed the important role of the above committee in liaising with neighbor local communities and inspiring them to address their common environmental needs. The ceremony closed with a gathering in Anjar which saw the planting of a tree in the town’s reforestation site to underline the significance of teamwork in the restoration and protection of Lebanon’s forests. It is to be noted, that this environmental and social corridor is an arcade that seeks to expand Rashayya forests towards Anjar while covering the 13 towns listed above. The importance of the project lies in strengthening the links between neighboring local communities in common environmental areas. (Al Mustaqbal, October 18, 2016)
 

 

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Lay-offs caused by economic-political crisis not foreign labor

18-10-2016

The president of the Hamra Street Traders Association, Zuheir Itani, said on Saturday that the worsening political discord has exacerbated the economic, social and livelihoods crisis affecting all the Lebanese people in all sectors, mainly the industrial and agricultural production sectors, commerce and external tourism. Shopping centers and souks are void of customers and many stores have closed and fired or terminated the contracts of their workers and staff, Itani maintained, pointing out to the unprecedentedly high rate of unemployment in the country. Itani was speaking during his tour to the shops and institutions in Ras Beirut district of Hamra in the rush hours, which he described as deserted, except for those who walk the street unnoticed. The reason for this slump, Itani mentioned, is the unstable political situation, which keeps consumers in check. Meanwhile, the labor ministry continues to follow up cases of arbitrary lay-offs of employees, and has issued to this effect a statement expressing shock over the random and arbitrary firing of Lebanese staff who are being replaced by Syrian workers with no explanation. Most of the cases, the statement went on to say, and which amount to hundreds over the course of a month, are unlawful and unjustified. Below are the names of some of the institutions and companies that laid off some of their workers: Hotel De Ville, Fares Group, Fakhry Food Company, St Terese Hospital, Agha Restaurant, Alban Lubnan, Arcom Musawi, Sanabil of the Time, Talia’at al Shaab School, Larissa corp, Ismail Furniture, Issa Khawaja company, Rajaa Sharafiddine Company, Monzer al Hajj Hospital, Executive Security, Rizk Security and Spartan. Legal notices have been sent to OMT, Alomco and Samir Zaim institution as well. (An Nahar, Al Diyar, Al Akhbar, October 17 and 18, 2016)
 

 

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Mountain Trail calls for better coordination to promoted rural tourism

17-10-2016

The minister of tourism, Michel Pharaon, underlined last Saturday the importance of the rural tourism project launched recently by his ministry to draw attention to remote Lebanese villages, their hidden potentials and employment prospects. Pharaon who was speaking during his sponsorship of the annual gala dinner for the Lebanon Mountain Trail (LMT) Association at Beirut Hippodrome, pointed out that LMT sustains the development of tourism and strengthens the villagers’ steadfastness to their land. “Every year, we relive with the Association different rural, mountain and ecological climates away from the political and confessional interferences,” Pharaon said. Similarly, LMT president, Nadine Weber, maintained that the association has partly contributed to the return of displaced Lebanese families to their villages, particularly that the hiking trail when passing through 16 out of 75 towns and villages across Lebanon benefits local producers who flock to showcase their food heritage to trekkers. Weber called for preserving and promoting this project as a touristic invention, and also for protecting its natural resources and cultural legacy. She advised the need to adjust the educational approaches of Lebanese schools as such to incorporate activities that prompt the creation of economic opportunities through the MLT initiative (Al Mustaqbal, Al Diyar, October 16, 2016)
 

 

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