SITA to provide faster connectivity to MEA’s global network.

Middle East Airlines-Air Liban (MEA) has signed a five-year master agreement with SITA, an air transport communication services provider, to introduce new and faster connectivity across its global network of offices and outstations.

MEA will use SITA's technology to maintain fast and effective links with its 26 outstations worldwide, the national carrier said in a statement.

"We needed a partner that had the ability to support us 24/7 and across all the cities from which we fly," s...

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Second electricity firm targets 150 MW in Tripoli. Power to be generated according to Zahlé model

Entrepreneur Mohammad Adib will establish an electricity company called Tripoli Electricity Company in order to privately generate power.

Adib, who is the owner of the Tripoli-based Miramar resort, will establish the company in cooperation with Zahlé electricity concession's Chairman, Assaad Nakad.

Adib said: "We will be sending a request letter to Electricité du Liban (EDL) asking permission to use its distribution networks."

If permission is granted, the di...

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Fiberglass factory for Comtec in Anfeh. To manufacture boats, prefabricated houses, and waterproofing materials

Comtec Marine, a manufacturer of boats and yachts, will build an additional factory in Anfeh, Koura, in early 2017.

The 3,000 square meter (m2) factory will require a four-million-dollar investment and will triple the production capacity.

According to Joe Keshishian, the factory owner, the facility will be used to manufacture other items in addition to boats, but making use of the same material.

The other items include prefabricated houses, swimming pools, and waterproofing...

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BLC gets IFC and AFD support for SME lending.

The International Finance Corp. (IFC) and the Agence Française de Développement (AFD) will jointly guarantee, through a risk-sharing facility, five million dollars' worth of loans granted by BLC Bank to support small and medium enterprises (SMEs).

The move is likely to spur ten million dollars in lending. About 20 percent of the loans will be earmarked for women-owned SMEs.

"BLC Bank is the first bank to benefit from the MENA SME Risk Sharing Facility with special fo...

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Zouk and Jiyeh readies extra 270 MW. Three companies win €108 million in O&M contracts

The contract for the operation and maintenance of the two new power plants at Zouk and Jiyeh has been won by a joint venture of Indian firm Operational Energy Group (OEG), Turkish firm Arkay Limited, and local firm Middle East Power, according to a source at the Ministry of Energy and Water (MoEW).

The contract is pending the sign-off of the Ministry of Finance (MoF). Its value is €108 million ($119 million) over a period of five years.

The Danish contractor, Burmeister & Wain Sca...

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