News

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…

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…

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…

Oil exploration to start in 2019

A consortium of oil companies are committed to exploring gas in blocks four and nine in 2019, caretaker Energy and Water Minister Cesar Abi Khalil said on Wednesday. Abi Khalil made the statement after he, caretaker Foreign Minister Gebran Bassil and Norwegian Ambassador to Lebanon Lene Natasha Lind signed the…

Tender launched for solar power at Casino du Liban

A government agency affiliated with the Energy Ministry announced Friday a call for bids to install a solar photovoltaic system at Casino du Liban. “As part of the national plan launched by the Energy and Water Ministry to install solar photovoltaic systems on the rooftops of 10 public buildings, a…

Lebanon’s wind EoI draws companies from 21 countries

Companies from 21 countries have taken part in Lebanon’s Expressions of Interest (EoI) for the development of 200 MW-400 MW of wind capacity. Lebanon’s Center for Energy Conservation (LCEC) recently published a list of the 42 bidders that have responded to the EoI. Lebanese companies are most prevalent, followed by…

UN Welcomes Appointment of Members of the Lebanese National Human Rights Institution

Acting United Nations Special Coordinator for Lebanon Pernille Dahler Kardel and the Regional Representative of the Office High Commissioner for Human Rights (OHCHR) in the Middle East and North Africa, Abdel Salam Sidahmed, welcomed the Cabinet’s appointment yesterday of the ten members of Lebanon’s National Human Rights Institution (NHRI). “This…