Green industrial incubator opened in Roumieh. Project capable for 40 green start-ups and small enterprises

Fondation Diane has launched 'Raymondo' a green industrial incubator in the industrial zone of Roumieh.

Raymondo has a total built-up area of 3,000 square meters (m2), which can fit up to 40 start-ups. "The project will be a platform for start-ups who have creative eco-friendly industrial ideas that can be developed," said Lara Blake, Operation Director at Fondation Diane.

The incubator will also comprise a research and development space and basic equipment and machinery that can...

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State of Economic Emergency declared by political parties. Decisions include cutting deficit and selling part of public companies

Top State officials and political and financial leaders have agreed on the broad lines of a three-year economic emergency plan that aims to reduce the fiscal deficit and speed up the implementation of capital investment projects, according to Prime Minister Saad Hariri.

The leaders have approved a medium-term fiscal framework over the three-year period 2020-2022 that aims to achieve an annual primary budget surplus of at least three percent, four percent, and five percent of GDP over each...

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Central Bank’s gold reserves jump 26 percent in 12 months. Improvement driven by surge in global prices

The value of the gold reserves held by the Central Bank (BDL) surged 26 percent to $13.9 billion by mid-August 2019 compared with a year earlier driven by a sharp rise in global gold prices, according to BDL data.



The spot price of an ounce of gold jumped to $1,520.40 on August 15, from $1,178.3 a year earlier, according to the London Metal Exchange. The ...

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Deposits are secure at Jammal Trust Bank. Liquidity is available to meet the needs of legitimate accounts

All lawful deposits with Jammal Trust Bank (JTB) remain secure until their maturity date and liquidity is available to meet the needs of the bank's legitimate depositors, said Riad Salameh, Governor of the Central Bank (BDL).

Salameh's statement came following an announcement by the U.S. Department of the Treasury that its Office of Foreign Assets Control (OFAC) has sanctioned JTB, alleging that it knowingly facilitated banking activities for Hezbollah.

JTB said: "In the days to co...

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Central Bank’s reserves up $1.4 billion in two weeks. Growth comes from non-resident private sector depositors

The foreign exchange reserves of the Central Bank (BDL), excluding gold, increased by nearly $1.4 billion during the second half of August to reach $38.7 billion at the end of the month, according to Riad Salameh, Governor of BDL.

This increase is due to the influx of deposits from the non-resident private sector directly to BDL and not the result of deposits by any foreign state or any international entity, he said.

This reflects depositor confidence, strengthens the stability of ...

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Bidding for wind farm tender to launch by end of September.

The Ministry of Energy and Water (MEW) is scheduled to deliver on Sept. 27 the request for proposal (RFP) documents to companies and consortiums that have submitted their expression of interest (EOI) for the second round of bidding for wind farm projects, said Pierre El Khoury Director General of the Lebanese Center for Energy Conservation (LCEC).

The projects involve building and operating wind farms across the country to generate 500 megawatt (MW) of electricity, Khoury said.

The...

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Bidding for wind farm tender to launch by end of September.

The Ministry of Energy and Water (MEW) is scheduled to deliver on Sept. 27 the request for proposal (RFP) documents to companies and consortiums that have submitted their expression of interest (EOI) for the second round of bidding for wind farm projects, said Pierre El Khoury Director General of the Lebanese Center for Energy Conservation (LCEC).

The projects involve building and operating wind farms across the country to generate 500 megawatt (MW) of electricity, Khoury said.

The...

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Bidding for wind farm tender to launch by end of September.

The Ministry of Energy and Water (MEW) is scheduled to deliver on Sept. 27 the request for proposal (RFP) documents to companies and consortiums that have submitted their expression of interest (EOI) for the second round of bidding for wind farm projects, said Pierre El Khoury Director General of the Lebanese Center for Energy Conservation (LCEC).

The projects involve building and operating wind farms across the country to generate 500 megawatt (MW) of electricity, Khoury said.

The...

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Public parking in Mufti Hassan Khaled Public Park.

Work on building a public parking lot below the Mufti Hassan Khaled Public Park project in Talet Al Khayat has started.

The project aims to build a parking lot of four underground levels which will accommodate 440 cars, in addition to 69 above ground parking areas. The park will undergo a rehabilitation process, as the uprooted trees will be replanted, according to the Beirut Municipality.

The demolition work in the park commenced last week.

Supervised by the Council of D...

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