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First container vessel to dock in Tripoli Port To ferry 110 containers to Europe and Gulf

Port of Tripoli (PoT) is expecting the arrival tomorrow (Friday) of the first container vessel, Cielo di Agadir, under the Moroccan flag. The vessel is part of CMA CGM’s fleet. The vessel is around 185 meters long and 25.5 meters wide. It will dock in a 15 meter-deep quay. Cielo…

Italy grant loans for renewable energy in Lebanon

The Ambassador of Italy Massimo Marotti has announced a €5 million ($5.5 million) soft loan to be granted for the implementation of renewable energies in residential buildings. The loan will be pooled into the National Energy Efficiency and Renewable Energy Action (NEEREA) mechanism funding. NEEREA loans are subsidized by the…

$3.4 billion in infrastructure projects being overseen by CDR

The Council for Development and Reconstruction (CDR) is supervising $3.4 billion worth of public works, according to its Progress Report 2016. The value of all works, completed and underway, since 1992, is $8.7 billion. Works are divided over four sectors: Basic services, infrastructure, productive sectors, and socioeconomic sectors. The sector…

Mark Your Calendars: 3RD ANNUAL IMMIGRANT’S REUNION 2-3 August 2017

Please mark your calendars and save the date to attend the 3rd Annual Immigrant’s Reunion 2017 conference on 2- 3 August, 2017. We do believe that together we can achieve more and we can support our beloved country, Lebanon, at all levels. LIBC members are more and more confident that Lebanon…

Household spending in Lebanon to grow 6%

Household spending is expected to grow at a compounded annual growth rate of 6.4 percent between 2016 and 2020, according to the Business Monitor International (BMI) report released this week. Total household spending is expected to increase from $27 billion this year to $35 billion by 2020. Average spending per…

Lebanon turns to diaspora in search of business

The country’s government and entrepreneurs held this Monday, in São Paulo, a conference to encourage Brazil’s Lebanese community to consume Lebanese products, and visit and make investments in the Arab nation. Lebanon wants to mobilize the millions of Lebanese and descendants spread throughout the world to boost the country’s economy,…

$85 million to build three industrial zones in Lebanon

Around $85 million is required to complete three industrial cities planned by the Ministry of Industry for Baalbek, Tourbul-Qosaya, and Deir el Moukhaless-Jleiliyeh, according to a United Nations Industrial Development Organization (UNIDO) study. The Italian Government provided an $8 million loan for the project. UNIDO has completed the data collection…

Deposits in Lebanese banks show record growth since 2010

Bank deposits increased $6.6 billion in the first nine months of 2016. This is the highest growth in absolute value for corresponding periods since 2010. The value of additional deposits is 40 percent higher than during the same period last year, according to the Central Bank (BDL). In percentage terms,…

ICT is the fastest growing sector of the Lebanese economy by 10%

The information and communication technology (ICT) market is expected to grow at a compound annual growth rate (CAGR) of 9.7 percent to $543 million by 2019, according to ‘Investment Opportunities in the ICT Sector-2016’, a report published by the Investment Development Authority of Lebanon (IDAL). The ICT market grew by…

Triangular Climate Action in Lebanon

The Lebanese Ministry of Environment co-organized with the AUB’s Issam Fares Institute for Public Policy and International Affairs and UNDP a side event entitled: “Triangular climate action: harmonized efforts of businesses, NGOs and the Government”. The event, which was held at the COP22, focused on inter-sectoral collaboration between government, the…