Charity hospital will open in Deir Al-Ahmar.

The Maronite Diocese of Baalbek–Deir Al-Ahmar will open Charity Hospital in Deir Al Ahmar in early 2019.

The total built-up area of the hospital will be 11,000 square meters (m2). It will include 89 beds, along with an emergency care unit, laboratories, operation rooms, and a radiology department.

"There is large shortage in medical services in the region", said Sister Lina Abbas, a representative from the Maronite Diocese. The nearest hospital is 30 minutes away from Deir Al-Ahm...

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Online platform to market industrial goods abroad.

Orient Swiss Lebanon, a recently established company owned by Bachir Abi Khalil, recently launched an online trading gateway that helps manufacturers market their products in the Silk Road countries.

Orient Swiss Lebanon is a subsidiary of Orient Swiss, a Swiss-based company specialized in building online marketplaces for B2B2C trading and inbounds travel within the Silk Road countries.

The initiative is supported by the Ministry of Economy and Trade and the Chamber of Commerce, I...

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Tech startups grow three-folds. ArabNet survey ranks country second in the MENA region

The country still ranks in second place in the MENA region behind the United Arab Emirates (UAE) in terms of number of startups and value of investments. The number of startups witnessed a more than three-fold increase from 11 to 37 companies between 2013 and 2016. Similarly, investments reached $56 million in 2016, compared to just $7 million in 2013.

This is the first conclusion of the Arabnet's Lebanese Innovation Economy report, issued at the Arabnet conference this week.

Omar...

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Foreign currency reserves back at over $43 billion. Inflows have topped outflows since December

The Central Bank's foreign-currency reserves rebounded following the Prime Minister's withdrawal of his resignation in early December and they are now back at more than $43 billion, said Riad Salameh, Governor of Banque du Liban (BDL), according to an interview with Bloomberg. Foreign reserves dropped to nearly $41.5 billion after the resignation in November.

The recovery showed that confidence is "stronger after the crisis," Salameh said.

He said that the money outflows witnessed ...

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Ministry of Telecom launches ICT fund. MIC Ventures will invest in technology and services

The Ministry of Telecommunication (MoT) launched MIC Ventures, a $48 million fund, to invest in and empower the ICT sector and related services startups.

Jamal El Jarrah, Minister of Telecommunications, said that MoT will not only offer financial support, but will provide a free technical laboratory. If more advanced technology is required, MoT will support the access to needed technologies through regional or international institutions. Jarrah said that the financed companies will get as...

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