Chalhoub Group merges with Pearl Brands locally. Deal will allow the opening of five new stores

Dubai-based retail group, Chalhoub Group, merged its local operations with local retailer Pearl Brands, a joint press statement announced on Thursday.

Chalhoub Group had bought half of Pearl Brands' shares. The capital of Pearl Brands is LL3.5 billion, according to the Commercial Register.

"We believe that if we join our efforts, we can bring in new concepts, make new investments, and reduce our costs, because the infrastructure is available," said Ghassan Jisr, CEO of Pearl Brand...

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Arab Fund to lend $165 million to Housing Bank. Proceeds are adequate to lend to over 1,000 borrowers

Banque de l'Habitat (The Housing Bank) has secured a 30-year soft loan of KD50 million ($165 million) from the Arab Fund for Economic and Social Development, said Joseph Sassine, Chairman of The Housing Bank.

A preliminary agreement has been signed between the Arab Fund and the Council for Development and Reconstruction (CDR) for this purpose. The Cabinet is expected to issue the related decree in its next session.

The Housing Bank will pay an interest rate of 2.5 percent on th...

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China leases Cascada Mall. 400 Chinese companies to build one-stop shop for bargain hunters

Around 400 Chinese companies signed this month a 15-year lease agreement with Inter Mall Group, owner and operator of Cascada Village in Taanayel, Bekaa to rent the 60,000 square-meter mall.

"The Chinese are entering the markets of Lebanon, Syria, Jordan, and Iraq through our premises," said Maurice Torbey, Inter Mall Chairman.

Cascada Village stretches over a space of 220,000 m2. It houses Cascada Mall, as well as events venues, healthcare facilities, and outdoor activities.
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Starz Play launches video streaming services. Exclusive distributor Ivy Circle signs deal with Alfa

Starz Play, a provider of subscription video on demand (SVOD) services, has launched its operations in Lebanon.

The company, which offers its video streaming service in 19 countries across the Middle East and North Africa, will provide Hollywood and local Arabic TV shows and movies as well as kids' entertainment. It will also stream content from Starz Original Series and same-time-as-U.S. series.

Ivy Circle, the representative of Starz Play and the exclusive distributor of its ser...

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Factories polluting Litani given September deadline. River to be cleaned

The Ministry of Industry (MoI) has announced the final deadlines for licensed and unlicensed factories located around the Litani River and basin to rectify their environmental violations.

"If factories do not abide by the deadlines, they will be shut down," said Wael Abu Faour, Minister of Industry.

First and second category factories have six months to correct their environmental violations. Third category factories were given four months to rectify their violations. Fourth and ...

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Industry declares state of emergency. Association gives government 100 days to close unlicensed factories and stop dumping

The Association of Lebanese Industrialists (ALI) announced an 'industrial emergency' on Wednesday, calling on the government to save the country's industry, jobs, and economy.

"Tens of manufacturers are close to shutting down their factories due to dumping, smuggling, and unlicensed factories," said Fadi Gemayel, Chairman of ALI. The association gave the government 100 days to take measures to save the industrial sector.

ALI requested a comprehensive vision and strategy for revivi...

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Contractors to stop bidding on public tenders. Syndicate calls on government to pay its dues

The Syndicate of Contractors for Public Works and Buildings has asked its members to stop participating in public tenders, until the government pays its dues in arrears.

The Syndicate said in a statement: "Delays in paying contractors their dues obstructs several sectors including suppliers, developers, architects, and engineers." It asked public administrations not to launch new tenders before paying all their dues to contractors.

"We will convene an extraordinary general assembly...

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Significant growth expected in European tourist numbers. Culture, countryside, history proving irresistible

The number of European tourists is expected to grow significantly this year, according to the Ministry of Tourism (MoT). Approximately 706,000 Europeans visited the country last year, registering an annual growth rate of ten percent over the last two years, according to the MoT. Based on these growth rates, the ministry anticipates 800,000 European visitors this year, accounting for 40 percent of the total visitors.

French tourists topped the list of visitors reaching 183,000 last year, r...

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Tourism and agro-food industries could push job creation.

The government should prioritize and support the tourism sector and agro-food industries due to their job creation potential, according to the 'Unemployment in Lebanon findings and recommendations' report, submitted to the Economic and Social Council in Lebanon (ECOSOC).

The health, knowledge economy, fashion and jewelry, and construction sectors, follow respectively in job creation potential, according to the report, which built upon existing studies and reports to identify the sectors....

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Ministry of Economy and Trade launches consumer studies project.

The Ministry of Economy and Trade (MoET) has launched the National Consumer Observatory to carry out surveys that will be used for consumer protection purposes, said Alia Abbas, General Director of MoET.

The aim is to study consumer behavior and to use that data to take preventive consumer protection measures and raise awareness, she said. The findings of these studies will be used to educate consumers and inform them about their rights.

The observatory is a project and so there ...

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Gross market debt in downtrend since 2013. Dwindling share mitigates country’s default risk

The share of the gross market debt of the total public debt dropped ten percentage points over the period 2013/2018 and reached 59 percent at the end of last year, driven by the State's growing indebtedness to the Central Bank (BDL), according to the Ministry of Finance's 'Debt and Debt Markets' report for the fourth quarter of 2018.

Gross market debt is the portion of public debt that is held by banks and other private sector lenders. It is computed by deducting from the gross public deb...

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Cabinet gives local goods preferred treatment in bids. A step forward for boosting production

The Prime Minister's Office on Wednesday issued a circular requiring all public institutions and the Union of Municipalities to favor 'Made in Lebanon' goods when setting the terms of reference for tenders and public procurement.

According to the circular, locally-manufactured products should be given preferential treatment even if they are up to ten percent more expensive than imported goods.

The decision is based on a circular issued in 1997, which called for the involvement of...

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Ministry of Industry to tighten food safety program for factories.

The Ministry of Industry is preparing a more stringent safety inspection program for food manufacturers.

A specialized team from the ministry will visit factories to assess their compliance with food safety standards set by the ministry.

The team will review the factory's premises, the cleanliness of its machinery and workers, and whether they have the proper medical certifications. The factory's water will be tested, as well as its end product, which will be tested by the Indust...

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Traders launch campaign to stimulate economy.

The Beirut Traders Association (BTA) has launched a national awareness campaign to stimulate the local economy.

The 'Think of Lebanon' campaign, which has received the support of the economic associations and the government, aims to encourage consumption of local products, internal tourism, and giving priority to hiring from the Lebanese workforce.

The media and advertising campaign aims to raise awareness about the precarious economic condition, and to convince the Lebanese to use...

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Sugar and grated cheese exports to Syria drop.

Exports of prepared food stuff to Syria dropped a drastic 82 percent last year, compared to the previous year, according to Custom figures. This is attributed to a large drop in cane or beet sugar exports and grated cheese for pizza topping.

Sugar exports to Syria dropped from $52 million in 2017 to $10 million last year. Exports of grated cheese for pizza dropped from $26 million in 2017 to $0.4 million last year. These products include mainly 'Puck' and 'Three Cows' brands, according t...

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Commerce law amended, sole-shareholder companies OK. Chairperson, general manager positions can now be separate

Parliament has approved a number of long-awaited amendments to the Code of Commerce which was issued almost 80 years ago.

The new amendments include reducing the minimum number of shareholders in a limited liability company (Société Anonyme à Responsabilité Limité – sarl) to one instead of three shareholders, separating the positions of chairperson and of general manager, and permitting digital correspondence in notification of general assembly meetings....

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Smart meters installation begins. Full rollout in South Mount Lebanon in a year and half

Electricity service providers are getting ready to install smart power meters for customers.

National Electric Utility Company (NEUC), the first of three power service providers to install smart meters, will begin installations Friday. Butec Utility Services (BUS) will start installing meters in two weeks and KVA will follow suit.

Smart energy meters produced by Spanish company ZIV will be installed in households. EMH meters, which are produced in Germany, will be installed in larg...

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E-commerce to triple, facilitated by e-payment. 300,000 online transactions posted last year

Demand on e-commerce platforms is set to triple in one year, according to a study published in the March issue of Lebanon Opportunities.

Investors are seeing large potential in e-commerce platforms, and consider it the best time to invest. "It is the era of online channeling, and if investors don't jump into this, they will lose massive opportunities," said George Azar, CEO of Hicart, a local e-commerce platform.

According to Areeba, a payment solutions provider, almost 300,000 p...

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Hotel reservations show full occupancy in summer. Flight bookings increase by ten percent

Hotels are witnessing high traffic and some reached full occupancy over the past month. Hoteliers are optimistic and have high expectations for this summer's bookings.

There was a good pick-up in occupancy rates starting last month, said Mohamad Yassine, General Manager of Radisson Blu Hotel, Verdun.

"We are witnessing good performance now, as our hotel is fully occupied some times, and this rising trend is expected to grow," Yassine said.

"Our prospects for the summer are d...

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Union of Arab Banks starts mediation, arbitration center. To provide faster services at lower costs than courts

The Beirut-based Mediation and Arbitration Center (MAC) of the Union of Arab Bank (UAB) has begun operations, and will provide services locally, regionally, and globally.

The center will not confine its services to litigations among banks or between banks and other parties, but will accept all requests for resolving litigation issues, said Ghaleb Ghanem, a member of the MAC's higher council for arbitration.

The MAC does not differ at the legal level from the Lebanese Arbitration an...

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Beirut airport bans Boeing 737 Max.

The Directorate General of Civil Aviation has prohibited the operation of Boeing 737 Max aircraft in local airspace.

The Boeing 737-8 Max and Boeing 737-9 Max will not be operated from, in, to, or over local airspace until further notice. They are also prohibited from landing at Beirut Rafic Hariri International Airport (BRHIA).

Operators who were scheduled to fly Boeing 737 Max aircraft to Lebanon are allowed to continue to their planned destination using other types of aircraft.<...

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USAID grants $80 million for community support efforts.

The United States Agency for International Development (USAID) has launched the Community Support Program (CSP), which is designed to support vulnerable communities by enhancing economic opportunities in the North, South, and Bekaa regions.

The $80 million project will be implemented within five to seven years by Chemonics Beirut, and in partnership with municipalities, public schools, community-based organizations, and civil society groups.

CSP is a multi-sectoral program that o...

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Locally produced Vodka was launched by Colonel. ‘Secreterre’ enters an $11 million market

Colonel, a microbrewery and distillery producing beer and gin, has begun producing vodka in Batroun, under the brand name 'Secreterre'.

It is the first vodka brand to be produced in Lebanon.

"The consumption of vodka per capita is very high in the market," said Jamil Haddad, Founder of Colonel.

Vodka imports reached $11 million last year, according to Custom figures. "The number indicates that vodka is a promising business," Haddad said.

Colonel is distilling the v...

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Berytech launches program to turn concept into business. EU-funded project will give access to markets, experts, and investors

Berytech said it has launched a six-month acceleration program that allows eight teams to develop their research or technology innovation into commercially viable products and applications.

The 'Innovation Factory: From Research to Market' program will be funded by the European Union under 'The Next Society' initiative. The program will be open to researchers, postgraduates, innovators, engineers and technicians.

"By joining the 'Innovation Factory Program', candidates will acceler...

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Architecture contest open for Tripoli business park. Project located at Rachid Karami international Fair

The Tripoli Special Economic Zone (TSEZ) has launched an international competition for the architectural design of a Knowledge and Innovation Center (KIC) at the Rachid Karami International Fair in Tripoli.

The competition will be managed by the Lebanese Federation of Engineers and Architects, endorsed by the Union of International Architects (UIA), and supported by Union of Mediterranean Architects (UMAR).

The KIC is planned as a business and technology park that accommodates and...

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Land registry to be linked to notaries public. Funded by €1.2 million French grant`

The Ministry of Finance has launched a project to modernize the General Directorate of Land Registry and Cadastre (GDLRC).

The project consists of linking Cadastral offices to notaries public, to spare citizens the need to register property twice. "For people who will register property at the notary public, it will be as if they did so in our offices," said Georges Maarawi, Director General.

Many individuals register property at the notary public but delay registration at cadastra...

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Beirut hotel occupancy rates and room yields up. European visitors topped the list last year

Beirut hotel occupancy in five and four star hotels grew 1.4 percentage points last year, compared to 2017, reaching a total rate of 65.1 percent, according to Ernst & Young's Middle East hotel benchmark survey.

Occupancy rates have been on the rise since 2015, registering 58 percent that year, and 59 percent in 2016.

The increase last year was accompanied by a 2.3 percent growth in the average room rate from $184 in 2017 to 188. Revenues per available room (RevPAR) increased by ...

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Ports and Customs offices will become open on weekends. To speed activity and lower cost

The Director General of Customs will sign a decision to open ports and Customs offices during weekends. The decision will be effective once signed.

Amer Kaissi, Chairman of the Freight Forwarders Syndicate, said: "This decision reduces congestion at the Port of Beirut (PoB) and lower cost to forwarders." Customs offices currently are open Monday to Friday.

The same Customs employees will be working during the weekend, according to Badri Daher, General Director of Customs.

P...

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Annual per capita health expenditures reach $863.

Total annual health expenditures per capita reached $863 in 2015, totaling $3.8 billion, accounting for seven percent of the Gross Domestic Product (GDP) according to recently published statistics by The Ministry of Public Health (MoPH).

Total health expenditure has increased 11 percent since 2012, the last available date of measure by MoPH.

The figures released in March include expenditures inside and outside hospitals, in addition to laboratories, pharmacies, and physician clini...

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Foreign workers number up five percent. Ethiopians represent 80 percent of the total

The number of foreign workers who received a work permit for the first time has increased by five percent in 2018, reaching 86,894, according to the Ministry of Labor (MoL).

Around 88 percent of the new permits were given for household workers.

Ten percent of new foreign workers are cleaning agents, agricultural workers, porters and fuel station workers, and 80 percent are Ethiopian, reaching 69,760 followed by Egyptians and Filipinos.

The ministry has also renewed 182,749 w...

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Ashta cream factory to open in Donnieh.

Yaghi Group, a producer of ashta cream, plans to open a new production facility in Donnieh this summer. The 4,000 square meters (m2) factory will be built on a 25,000 m2 land plot. Khaled Yaghi, the owner, will invest $1 million in the factory.

Yaghi Group currently operates a facility in Aramoun, which will be turned into a warehouse once the Donnieh facility is up and running. The company produces around 500 kg of ashta per day. "The new facility will increase production to two tons per...

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FFA teams up with IFC to launch $100 million fund. Mezzanine fund to invest in infrastructure projects

FFA Private Bank (FFA) said it plans to launch a mezzanine fund with a targeted capital of $100 million to invest in infrastructure projects in Lebanon, the Levant region, and Africa.

For this purpose, FFA has signed a memorandum of understanding with the IFC, a member of the World Bank Group, which will help it set up and operate the fund.

Mireille Korab Abi Nasr, Head of Communication at the FFA group, said the IFC will participate in roadshows to promote the fund and in the orga...

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Cabinet approves raise for newly appointed teachers.

The Cabinet has approved salary raises for the secondary school teachers that were appointed after the approval of the new salary scale law in August 2017.

The newly approved raises bring their salaries in line with the 2017 salary scale law. These teachers had passed the exams before the law was enacted but hadn't yet been appointed by the Ministry of Education and Higher Education.

The salary raise, which impacts 2,150 teachers, has six levels, accounting LL360,000 per month for...

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