Olive oil exports double in three years. Saudi Arabia and US top destinations

Exports of olive oil have been growing at a compound annual growth rate (CAGR) of 30 percent since 2014, according to the Olive Oil Factsheet published by IDAL.

Exports of olive oil reached 10,000 tons last year. They were mainly exported to the Gulf and North America. Around 26 percent of total exports went to Saudi Arabia, and 13 percent to the US.

There are growing export partners such as Australia, Venezuela, and various African countries. Exports to these countries have been...

Article details

Lira is secured by Central Bank capabilities. Riad Salameh: “There is no need to panic”

The governor of the Central Bank Riad Salameh affirmed the stability of the lira. He cited financial operations carried out by the Central Bank and the cooperation with the banking sector in his assessment.

"The lira will remain stable and it is based on the existing capabilities of the Central Bank," he said. "The Central Bank has built a monetary model that takes into account the financial and economic data of the country has contingency plans to deal with negative surprises," he said....

Article details

Exporters are penetrating markets with quality. Potential is in added value industries and markets comprising expatriates

Local industrialists and farmers have been successful at exporting their goods to various destinations. Products that find the greatest success are often those that have the highest added value, according to a special report on exporters published in the November issue of Lebanon Opportunities.

Prepared foods and beverages top the list of exports most years, followed by electrical equipment, chemical products, and paper products.

In the past decade exports have witnessed several u...

Article details

Industrial zone at Nahr Ibrahim. $100 million to equip industrial lands and facilities

The Nahr Ibrahim Industrial Region will be launched in early 2018. Sakr Real Estate, a property development company will be developing and managing the project. Construction will be completed in 2021.

The company has finalized the studies and the master plan. Industrialists interested in owning or leasing land in the city will be able to book their site starting from November 16.

Investment in the project is estimated at $100 million, including the cost of the land.

Article details

Bank of Beirut to buy Banque de Crédit National. Go ahead given to start acquisition talks

Bank of Beirut (BoB) said its board has approved a plan for the acquisition of the entire shares of Banque de Crédit National (BCN).

BoB said its board has mandated Salim Sfeir, its chairman, to negotiate with BCN's shareholders and to set the acquisition terms. The chairman was also authorized to sign all related contracts and documents.

BCN's total assets stood at $217 million at the end of 2015. Shareholder equity totaled $28 million. The bank has three branches, two in ...

Article details