Dubai meat company sold to Lebanon and Jordan buyers. Value of deal is $17 million

A local private equity fund management company, Emerging Investment Partners (EIP), has acquired the Dubai-based Diamond Meat Processing (DMP), owner of Almasa brand, in partnership with the Jordanian publicly listed firm, Siniora Food Industries. The full equity deal was closed at $17 million.

The seller of DMP is Emirati firm Al Ghurair Group.

EIP's share of the deal is 30 percent. CSC Bank financed close to one third of EIP's share. The terms of the deal are seven years at mark...

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Ogero to deploy the Internet of Things. IPv6 technology to be ready by year-end

Ogero, the state-owned telecom operator, said it will complete the deployment of the Internet Protocol version 6 (IPv6) on its network before the end of 2016.

IPv6 is the newest version of the Internet Protocol (IP), which provides an identification and location system. Any computer or device connected to the Internet is assigned an IP address for identification and location definition. An IPv6 address is 128 bits long, while an IPv4 address is 32 bits long and this makes the number of a...

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The Backyard Hazmieh opens to open in May.

The Backyard Hazmieh, a mixed- use cluster, will open next month, according to Wassim Heneine, Managing Director of Emerging Investment Partners (EIP), the company that owns 51 percent of the cluster.

The cluster was fully rented out before its opening, he said. The tenant mix includes Starbucks, Lina's, Bar Tartine, Roadster, Zaatar W Zeit, Sushi Tsunami, Classic Burger, Oleo, Divvy, Abdul Wahab, Dip n Dip, Brasserie Francaise, Kitchen Yard, U Energy, Little Me kids' area, and a spa, acc...

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IT projects to benefit from IDAL’s incentives. Updated list of eligible companies allows resumption after a three-year halt

Information technology (IT) projects may now benefit from incentives offered by the Investment Development Authority of Lebanon (IDAL). The incentives include ten-year exemptions from income tax and from taxes on the distribution of dividends on IT projects.

The Council of Ministers has approved a list of the IT activities that may benefit from IDAL's tax incentives. IDAL halted granting the incentives to IT companies in the last three years because an incorrect IT list was attached to de...

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60 inclusive schools in two years. Project implemented through SKILD

The Ministry of Education (MoE) plans to convert 60 public schools into educational institutions that can also accommodate students with special needs and learning difficulties.

The project will be implemented through Smart Kids with Individual Learning Differences (SKILD), a non-profit organization. SKILD will provide specialized therapists and will train additional staff to work at the institutions. The organization will also help transform the schools and will provide specialized tools...

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