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Lebanon: Tourist tax free spending up near ten percent this year

Tax-free spending increased by 9.5 percent in the first half of the year compared to the same period in 2017, according to Global Blue’s report: ‘Globe Shopper Spending Insights YTD – January to June 2018’. The report accounts for VAT refunds that occur at Beirut Rafic Hariri International Airport and…

Salameh: Lebanese pound and Monetary conditions are stable

Central Bank Governor Riad Salameh said Thursday that monetary conditions in Lebanon were stable and that the country could expect two percent growth this year. In comments made after a meeting with President Michel Aoun, Salameh said that deposits in Lebanese banks are growing at a rate of five percent…

Lebanon’s first wind farm on track

When Energy and Water Minister Cesar Abi Khalil signed the contract February to construct the country’s first wind farm in north Lebanon’s Akkar, local residents expressed concerns about possible negative effects, but today, some of that fear has since abated. “Generating power using the sun and wind are productive projects…

BLOM Bank sees higher 2018 profit, hopeful on new govt

Lebanon’s BLOM Bank expects a slight improvement in its profit and balance sheet in 2018 and hopes a new government will be formed soon to implement economic reforms, its chairman and general manager said on Monday. Saad Azhari said Lebanese banks were expecting “acceptable” deposit growth of 5 to 6…

World Bank: $400 Million to Create Jobs in Lebanon

The World Bank Group has approved a new US$400 million project to support Lebanon’s quest to expand nationwide employment opportunities, which have been severely impacted by the influx of Syrian refugees and the recent low growth trend of the economy. The financial package is expected to create 52,000 permanent jobs…

د. نسيب فواز.. بالابيض والاسود ضمن لبنان بالدني

New Date of the Immigrants’ Reunion 2018 Invitation

IMMIGRANTS’ REUNION 2018  Phoenicia  HOTEL, August 6th , 2018    All Lebanese expatriates and immigrants are invited   Building on the great success of previous Planet Lebanon conferences, we hope that you have enjoyed Planet Lebanon 2017 conference held in Beirut in August 2017. For the fourth time, Under the Patronage…

R&M inks key Lebanon high-speed cabling contract

R&M (Reichle & De-Massari AG), a leading global producer of future-proof products and systems for communication and data networks, said it has been awarded a high-speed cabling contract by Lebanon’s largest mall ABC Verdun. ABC is the most prominent mall and department store in Lebanon that offers a unique shopping,…

Hotel and natural park on 130,000 m2 in Ain Saadeh

Forest Resort, a mixed-use touristic project in Ain Saade, has been launched by William Zard Group, a real estate company. Excavation for the project will begin in August. The project is scheduled to be completed within two years. The project will be built on a 130,000 square meters (m2) land…

Egypt, Lebanon discuss economic ties

Egypt’s Ambassador to Lebanon Nazih Al-Najari discussed on Friday with Lebanese Minister of Economy and Trade Raed Khoury and Industry Minister Hussein Hajj Hassan economic relations between Egypt and Lebanon at the Egyptian Embassy premises in Beirut. During the meeting, the trade dimension of the two countries’ ties was touched…