SITA to provide faster connectivity to MEA’s global network.

Middle East Airlines-Air Liban (MEA) has signed a five-year master agreement with SITA, an air transport communication services provider, to introduce new and faster connectivity across its global network of offices and outstations.

MEA will use SITA's technology to maintain fast and effective links with its 26 outstations worldwide, the national carrier said in a statement.

"We needed a partner that had the ability to support us 24/7 and across all the cities from which we fly," s...

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Second electricity firm targets 150 MW in Tripoli. Power to be generated according to Zahlé model

Entrepreneur Mohammad Adib will establish an electricity company called Tripoli Electricity Company in order to privately generate power.

Adib, who is the owner of the Tripoli-based Miramar resort, will establish the company in cooperation with Zahlé electricity concession's Chairman, Assaad Nakad.

Adib said: "We will be sending a request letter to Electricité du Liban (EDL) asking permission to use its distribution networks."

If permission is granted, the di...

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Fiberglass factory for Comtec in Anfeh. To manufacture boats, prefabricated houses, and waterproofing materials

Comtec Marine, a manufacturer of boats and yachts, will build an additional factory in Anfeh, Koura, in early 2017.

The 3,000 square meter (m2) factory will require a four-million-dollar investment and will triple the production capacity.

According to Joe Keshishian, the factory owner, the facility will be used to manufacture other items in addition to boats, but making use of the same material.

The other items include prefabricated houses, swimming pools, and waterproofing...

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BLC gets IFC and AFD support for SME lending.

The International Finance Corp. (IFC) and the Agence Française de Développement (AFD) will jointly guarantee, through a risk-sharing facility, five million dollars' worth of loans granted by BLC Bank to support small and medium enterprises (SMEs).

The move is likely to spur ten million dollars in lending. About 20 percent of the loans will be earmarked for women-owned SMEs.

"BLC Bank is the first bank to benefit from the MENA SME Risk Sharing Facility with special fo...

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Zouk and Jiyeh readies extra 270 MW. Three companies win €108 million in O&M contracts

The contract for the operation and maintenance of the two new power plants at Zouk and Jiyeh has been won by a joint venture of Indian firm Operational Energy Group (OEG), Turkish firm Arkay Limited, and local firm Middle East Power, according to a source at the Ministry of Energy and Water (MoEW).

The contract is pending the sign-off of the Ministry of Finance (MoF). Its value is €108 million ($119 million) over a period of five years.

The Danish contractor, Burmeister & Wain Sca...

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World Bank approves $100 million for education. Program to increase enrollment and enhance quality

The World Bank has approved the 'Support to Reaching All Children with Education (RACE2)' program. One hundred thousand additional Lebanese and Syrian refugee children aged three to 18 years old will benefit from access to education through this program.

The program will provide the Ministry of Education and Higher Education with a $100 million funding by the International Development Association (IDA). RACE2 will be implemented in the coming five years starting from 2016.

The prog...

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Health coverage for 64 year-olds and above starts in October.

The Ministry of Public Health announced that a full health coverage program will be provided to people aged 64 and above starting from October 2016.

The program will be financed by the Ministry, which used to cover only 85 percent of hospitalization bills.

The Ministry said that the budget required to fund the difference under this program is around eleven million dollars.

According to Bahij Arbid, advisor to the Ministry, the program will require a five percent increase ...

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RoboBank!. Novot, a first in the Middle East

Bank Audi has placed in its Bab Idriss electronic branch a humanoid robot to engage with customers. This is the first move of its kind in the region, the bank said in a statement.

The robot, nicknamed 'Novot', complements one of the bank's electronic branches which are called 'Novo', according to Hassan Saleh, Chief Operating Officer at Bank Audi Lebanon.

The artificial intelligence android welcomes and guides customers, and promotes the bank's products and services.

"It ...

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Speed@BDD launches third accelerator batch. Investment in seven new startups

Tech accelerator Speed@BDD will launch its third acceleration program on September 29 and will invest $420,000 in seven startups.

Sami Abou Saab, CEO, said: "$30,000 in cash and $30,000 worth of 'in-kind' services will be invested in each start up."

Speed@BDD opened the applications for its third acceleration program last June.

"The program has been perfected to better fit the startups' needs and expectations from our three-month acceleration," said Abou Saab.

The ...

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Up for grabs: 12 solar farms permits. Tens of investors are interested

The Lebanese Center for Energy Conservation (LCEC), part of the Ministry of Energy and Water (MoEW), has invited companies to submit proposals to develop solar farms, operate them, and sell power to Electricité du Liban .

At least 120 megawatts (MW) of solar farms are sought in Mount Lebanon, the North, the South, and Bekaa.

Each area is required to host between 30 and 45 MW of photovoltaic (PV) farms. The power capacity for each one will be 10-15 MW. This will lead to the ...

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Port of Tripoli extension launched. Includes expansion of container area

The Ministry of Public Works and Transportation (MoPWT) has launched the beginning of the construction of the second part of the second phase of Port of Tripoli's extension.

The second phase includes the restoration of the port's entire infrastructure.

The scope of works of this phase includes the expansion of the container storage area from 24,000 square meters (m2) to 70,000 m2.

The value of the expansion is around eight million dollars.

The contractor is local f...

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Green loans subject to new changes. Semi-annual follow-up reports among new requirements

A new set of technical eligibility criteria for National Energy Efficiency and Renewable Energy Action (NEEREA) loans has been announced.

The criteria were finalized by the Lebanese Center for Energy Conservation (LCEC) based on a request from the Central Bank (BDL).

Mazen Halawi, Deputy Director of the financing unit at BDL said: "Real estate development is one the main reasons behind changing the criteria."

Property developers are one of the biggest applicants of NEEREA...

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Installed solar power is set to double this year. Price of generated energy is falling steadily

Around 9.45 megawatts (MW) of solar photovoltaic (PV) systems were installed by the end of last year, according to the first Solar PV Status Report for Lebanon 2015.

The study was conducted by the Small Decentralized Renewable Energy Power Generation (DREG) project.

Jil Amine, Project Manager of DREG, said: "Last year saw a growth rate of 150 percent compared to 2014. We estimate that this year, growth will be upward of 200 percent."

Total investment in the solar PV secto...

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Green for Growth fund to start local operations. Fund can directly finance projects or partner with financial institutions

Green for Growth, an international fund for renewable energy and energy efficiency projects operating in Southeast Europe, European Eastern Neighborhood Region, and in the Middle East and North Africa, will start operations in the local market, according to Lachlan Cameron, Green for Growth's Senior Officer in Energy Finance.

The fund's budget for the three regions has reached $370 million this year. The eligibility criteria for applying for financing from Green for Growth (GGF) are havi...

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Abniah to develop Waterfront City Business Park. Contract value around $100 million

Local contracting firm Abniah is in the final negotiations stage with Majid Al Futtaim to develop the Business Park at Waterfront City Dbayeh, according to Maroun Helou, General Manager of Abniah.

Helou said: "Although it is not yet completely set, the contract value is around $100 million."

The Business Park comprises 12 buildings surrounding an integrated 'campus' design. It will host high-end office spaces, with functional floor plans, managed facilities, and sustainable operat...

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Renewable energy to get financing support. EU, EIB, AFD to provide funds and technical assistance

The Central Bank (BDL) will launch early next year an €80 million credit line for renewable energy and energy efficiency projects.

The credit line is funded by the European Investment Bank (EIB) and Agence Française de Développement (AFD).

The European Union (EU) will also offer technical assistance through a team of international and national experts to support BDL and private banks to prepare the financing scheme.

Although the received funds are in euro, t...

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Industrial permits down 14 percent.

Industrial permits issued by the Ministry of Industry (MoI) reached 304 licenses in the first half of 2016, a decrease of 14 percent compared to the same period last year.

Licenses issued to semi-light industries, such as food industry factories, reached 116 licenses, while 109 licenses were issued to 'light' category industries, such as textile factories.

Ziad Bekdache, Vice Chairman of the Association of Lebanese Industrialists, said: "It is normal that investors are not encoura...

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Public deficit widens, primary surplus increased seven percent.

The State's total budget deficit widened by nine percent to $1.25 billion in the first half of 2016 compared with the same period in 2015.

The primary surplus increased seven percent to $1.18 billion. The primary surplus represents the surplus before the deduction of debt servicing expenditure that includes interest payments and foreign debt principal repayment.

Total revenues grew by four percent to almost five billion dollars while total expenditure increased by five percent to a...

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Alfa and Touch cut 4.5G Internet tariffs.

Alfa and Touch, local mobile network operators, have decided to cut 4.5G Internet tariffs.

In a statement, Touch, a unit of Kuwait-based Zain Group, said: "The new tariff plans, which include marked pricing reductions up to 40 percent, require approval from the Ministry of Telecommunications (MoT), which is expected to happen shortly."

The new tariffs will be effective in October 2016 after obtaining the (MoT) approval.

The price reductions offered by Alfa range between 10 ...

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Malia plans resort in Anfeh next year. Group also plans to expand its pharmaceutical company

Malia Group has announced plans to build an 800,000 square meter resort in Anfeh. The project will be launched in early 2017 and will be ready in 2019.

The Group will own the resort and will lease out units.

"We are not targeting investors but people who wish to live in a gated city, which is what the project is about," Jacques Sarraf, Malia's Chairman, said.

The project will be developed through four phases. Investment in phase one will reach $70 million.

The reso...

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More than 70 percent of refugees below the poverty line.

Preliminary findings from a Vulnerability Assessment of Syrian Refugees survey lead by UN agencies show that more than 70 percent of Syrian refugees live below the poverty line.

"The economic plight of Syrian refugees did not deteriorate as severely as last year, but we know that this is due to the oxygen of external help. The situation would be even more dire without the aid received to date," said UNHCR's Representative in Lebanon, Mireille Girard.

There was also a rise comp...

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Retail on downward trajectory. Areas of growth also recorded

Two sets of indices have registered negative results in the first half of 2016 compared to those of the same period last year.

The indices were recorded by the Beirut Traders Association (BTA)-Fransabank and Lebanese Franchise Association (LFA)-Chamber of Commerce, Industry and Agriculture in Beirut and Mount Lebanon.

After accounting for inflation, the BTA index witnessed a drop of around five percent in the second quarter of 2016. The overall index scored 48.9 over 100, which is...

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Socotec tasked to classify hospitality establishments. Ministry of Tourism replaces Bureau Veritas

A decision issued by the Ministry of Tourism (MoT) this month has resulted in Socotec Liban being assigned the task of classifying hospitality establishments. Bureau Veritas was previously responsible for accreditation programs.

The task includes the ongoing classification and certification of hotels, restaurants, and furnished residences to specific criteria.

Roland Marie, General Manager of Socotoc Liban, said: "The Ministry of Tourism had previously assigned our company to cla...

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Bisri Dam to begin construction next year.

The construction of Bisri Dam on the Awali River is slated to commence in September 2017 at the latest, according to Elie Moussalli, Project Director at the Council for Development and Reconstruction (CDR).

The funds needed to continue the expropriation of land for the construction of a water treatment facility in Wardanieh have been collected. The value of expropriation is $30 million.

The treatment facility will treat around 500 thousand cubic meters of water that will later be ...

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Sinalco is back!. Juice and soda brand to enter the US market

ATC Bottling, a recently established company, has acquired the license to produce juices and sodas for international brand 'Sinalco' and has opened a factory in Kfarhay, Batroun for this purpose.

Walid Ammoun, holder of the license, said that Sinalco, a German brand, was previously available in the local market.

The factory has a total built-up area of 7,000 square meters and will produce around 15 juice flavors, as well as other soft drinks and alcohol-free malt drinks.

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Pasta factory opened in Baalbeck. Production rates to reach 4,500 tons annually

Somas Establishment, a recently established company, has opened a factory for the production of spaghetti and vermicelli, which it will distribute under the brand name 'Senor'.

Investment in the Baalbeck-based factory is around four million dollars. Mohamad Moussawi, Managing Partner, said that the company borrowed a subsidized loan to complete the project.

The built-up area of the factory is 1,000 square meters (m2). The plant is equipped with fully automated machines imported fr...

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Municipality of Saida to build tannery center.

The Municipality of Saida has allotted a site near Saida's sorting facility for the relocation of the city's tanners.

The plot of land has an area of 10,000 square meters (m2). Ziad Hakawati, Municipality Architect, said that the municipality is reclaiming the land from the sea. It is in the process of finalizing the paperwork to be able to exploit the land, which is public property.

Tanners are considered to be a first category industry as they cause pollution. This is the rea...

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OGERO to tender internet of things network. Bidders should be linked to global tech firms

OGERO, the State-owned telecom entity, plans to launch a tender for the procurement and installation of Long Range Wide Area Network (LoRAWAN), a media access control protocol for long range, wireless networks that only needs low electric power. The LoRAWAN network will be used for internet of things (IoT) services.

OGERO has invited bids from companies that have proven knowhow regarding the LoRAWAN system. The deadline for submitting the technical and administrative bids is October 6. <...

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Business incubator launched in Jezzine.

A business and social hub was launched last month in Jezzine with an investment of more than one million euros ($1.12 million).

The "Jezzine Hub" will include a business incubator that will provide training and mentorship services as well as networking opportunities and financial donations, said Joe Harfouche, the representative of the Federation of Municipalities of Jezzine on the project's steering committee.

Financing for the hub was provided by the European Union (EU) and the ...

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Megapack factory opened in Mazraat Yachouh. 2,000 tons of corrugated packaging for local market

Megapack, a manufacturer of corrugated packaging, opened earlier this month in the industrial zone of Mazraat Yachouh.

Investment in the project is valued at three million dollars and includes a subsidized loan by the Central Bank.

The facility has a total built-up area of 5,500 square meters, including four floors. Production capacity of the factory will reach 2,000 tons of corrugated packaging per year.

Johnny Raad, managing partner, said that the first stage of producti...

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Computerized municipalities have better collection rates. No connection between municipality size and collection rate

The collection rate of direct municipal taxes reached 62 percent in fully computerized municipalities, 58 percent in partially automated municipalities, and 38 percent in municipalities that are not automated.

According to a recent survey by Consultation and Research Institute (CRI), the collection rate is linked to municipalities' capability to track Rental Value Fee (RVF) payment, which is the number one direct income source for municipalities.

The survey was conducted as part ...

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S&P ratings uplifts sovereign outlook to stable. Result related to Central Bank’s recent financial engineering

S&P Global Ratings has revised its outlook on the sovereign risk to stable from negative as deposit inflows are likely to remain sufficient to support the Government's borrowing requirement and the country's external financing gap.

The credit rating agency said in a recent report that it affirms its 'B-/B' sovereign credit ratings.

This revision will have a positive impact on the attitude of corresponding banks toward their local counterparts, said Amine Awad, advisor ...

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Ten restaurants planned for Dalfa Ain Mreisseh project. $15 million investment, excluding land cost

Dalfa Bay, a food and beverage cluster, will be launched in Ain El Mreisseh, next to the Riviera Hotel, in February 2017.

The cluster, as well as the land, is owned by the Dalfa Group.

The project will be built on a 4,000 square meter (m2) plot, with a total built-up area of 8,000 m2.

Comprising around ten restaurants and a gym, investment in the cluster will be $15 million, excluding the cost of the land.

Marwan Dalloul, Vice Chairman of the Group, said: "We are ...

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Medical center in Ghazir.

Unité Specialisée d'Exploration Medicale (USEM), a medical center owned by Dr. Antoine Wadih and Dr. Nabil Soutou, is expected to open in Ghazir, Kesrouan, in November.

The center will have a total built-up area of 700 square meters (m2) and investment wil be around five million dollars.

The center will include an advanced radiology department comprising MRI, CT scan, and mammography screening facilities, as well as a laboratory.

Dr. Wadih said: "There is a...

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General Institute for Olives to support farmers and producers.

The Cabinet approved last week to the establishing of the General Institute for Olives and Olive Oil, which will be under the jurisdiction of the Ministry of Agriculture.

Anwar Daou, Advisor to the Ministry, said: "The institution aims to support olive farmers in the production and marketing phases."

According to Daou, Olives are planted on 700 hectares and thousands of farmers rely on this agricultural sector. Therefore, having such an institute makes perfect sense.

The ...

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Interbrand acquires Sannine mineral water. Transaction estimated at around $20 million

Interbrand, a company owned by the Tabourian family, has fully acquired Sannine, the natural mineral water company. The acquisition was partly financed by Bank Audi.

Neither party agreed to disclose the amount of the transaction.

The entire company has been valuated at $37 million, in addition to substantial retained earnings.

Owning 51 percent of Sannine's shares already, Interbrand acquired the remaining 17.5 percent held by Malia Group, and the 31.5 percent held by Rizk...

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Cali-Food factory to open in Khaldé. $16 million investment for six-fold production increase

Cali-Food, a manufacturer of bakery products, will open a factory on Khaldé Highway.

The $16 million facility will operate along two phases: the first in late 2016, and the second in summer 2017.

The factory's total built-up area is 12,000 square meters(m2).

According to Ali Ibrahim, General Manager, the expansion will increase the production capacity more than six times.

Ibrahim said that the current turnover of the company is $12 million. It is expected tha...

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One megawatt solar farm in Choukin. Contract valued at $1.35 million

The General Directorate of Hydraulic and Electric Resources has awarded a $1.35 million contract to install a one megawatt (MW) solar photovoltaic farm in Choukin, Nabatieh.

The contract was awarded to a consortium of four companies: Asaco, Farhat Group, Power and Automation Control (PAC), and Marji Group.

According to the Lebanese Center for Energy Conservation, installation work is expected to begin in two months' time. It is expected to take between 16 and 18 months to complet...

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DK Group and Jad Dagher removed from US black list.

The US Office of Foreign Assets Control (OFAC) has removed the DK Group and its General Manager Jad Dagher from its list of 'Specially Designated Nationals', which lists individuals and organizations that US citizens and institutions are prohibited from doing business.

In October 2014, the US Department of the Treasury accused Dagher and the DK Group of arranging the shipment of Syrian banknotes from Russia to the Central Bank of Syria.

"We were confident from the start that t...

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