Saida’s new port completes first phase. Old port to open only to fishermen

The first phase of a new port in the Dekerman area, at the southern entrance of Saida has been completed.

It includes a 150 meter-long dock and a one-kilometer long jetty. The quay has an area of 200,000 square meters and a depth of 15 meters, which is suitable for medium sized vessels. This phase cost $17 million and took two and a half years to complete.

The second phase is awaiting the 'Order to Proceed' by the Ministry of Public Works and Transport (MoPWT). Upon the port's com...

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EU adds $43 million in humanitarian aid.

The European Commission (EU) will give an additional $43 million in humanitarian aid to support Syrian refugees and their host communities in Lebanon.

The funding will help prepare the most vulnerable refugees for the approaching winter. It will provide assistance for shelter rehabilitation, heating and healthcare support for some of the most needy families, which will allow them access to secondary healthcare in hospitals.

European Commissioner for Humanitarian Aid and Crisis Man...

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Growth and success stories highlighted. at Business Opportunities Conference

More than 600 business managers, investors, and officials attended the 12th edition of the Business Opportunities in Lebanon Conference being held at the Phoenicia Hotel November 2-3.

The conference, the largest business event in the country, is organized by InfoPro, parent company of Lebanon Opportunities, under the theme 'Growth and success… no matter what'.

Ramzi El Hafez, Publisher of Lebanon Opportunities, said: "Our country is going through ugly, smelly and challenging times...

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Lebanon’s debt oversubscribed for 2015. Showing sign of continuous confidence by investors

The Ministry of Finance (MoF) announced today that it has succeeded in covering the full debt duties in foreign currencies for 2015 and part of another debt to be settled for 2016, through a Eurobond issue valued at $1.6 billion.

"The $1.3 billion sovereign Eurobond issue aims at financing debt duties in foreign currencies for the second half of 2015. A swap for bonds maturing on 19/01/2016 has also been executed at a value of $318 million," a statement by the MoF said.

"The curr...

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Sleep Comfort to tap Egypt in 2017. Turnover expected to reach $20 million as a start

Sleep Comfort, a manufacturer of mattresses and furniture, will open a factory in Egypt in late 2017.

Noel Ayoub, Chairman, said: "We find it feasible to tap this large market."

Investment in the project is estimated at $20 million. "The operational costs are very low compared to Lebanon," he said.

The facility will cover an area of 10,000 square meters. It will create 500 full time jobs.

The turnover of the Egyptian facility is expected to be $20 million in the beg...

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