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PAST ISSUE • APRIL 2021 • 

Looking Ahead
Economic revival plan. Rebuilding post-explosion. New e-government strategy

Selling outsourcing services   Accounting in fresh dollars  
Niches for agriculture investment   Future of the exchange rate  
Click on entry to get additional information on article
  WHAT'S NEW
 
Leaders Mercedes first to showcase online new model launch - BLOM Bank sells Egypt unit to Bahrain’s Bank ABC - Bank Audi absorbs private and investment subsidiaries - Bank Audi sells Egypt, Jordan, and Iraq units - Job openings announced by manufacturers
 
 
Business Port of Tripoli selected as terminal by CMA CGM - AZADEA buys Adidas and Rebook operations and franchise - IXSIR winery winds world’s best Rosé award - $600,000 in Facebook aid - Rifai Nuts sold to owner of CMA CGM - 30 Barbar franchised outlets planned in UAE and KSA - Five startups benefit from energy innovation program
 
 
Official Business Alvares & Marsal ends forensic audit contract - Banking secrecy lifted for one year - $1 billion received in support of refugees - Poverty and Covid needs earmarked for $246 million - USAID provides $70 million to support exports and SMEs - Seeking $2.75 billion in humanitarian assistance - 30 percent carbon reduction by 2030
 
 
Finance Banks accept lollars for 15 percent of medical imports - Housing Bank resumes lending - Invoices and VAT fees must be issued only in lira - Solidere sales hits $393 million - Record decrease in bank deposits and loans - Central Bank launches foreign exchange platform
 
 
Matters of Fact Remittances forecast amounts to $6.9 billion - New car sales drop 72 percent to below 6,200 - Real estate sales double to $14 billion - Building permit numbers up but related surface areas drop - Airport activity down by 71 percent - Balance of Payments deficit up 80 percent - Public debt increased to $96 billion last year - Life insurance claims register major increase
 
  People on The Move  
     
  IN MEMORIAM
 
Ramsay Najjar He played a leading role in many landmark advertising campaigns in Lebanon, and national messages in several Arab countries.
 
     
  WHAT'S NEW
  New Born Companies  
     
  ECONOMY
 
Country Report: Possible GDP Growth in 2021 The United Nations (UN) expects GDP growth conditioned on successful structural reforms, restoring the trust of society and foreign stakeholders in Lebanese institutions, the success of measures to halt the deteriorating local currency and the outcomes of negotiations with the IMF to obtain financial support.
 
 
In My Opinion: Triple crisis translate into deteriorating indicators, Makram Sader The government’s declaration of a national bankruptcy, the coronavirus pandemic causing decline in economic activity, and the continuous deterioration of the country’s monetary conditions.
 
     
  COVER STORY
 
Looking Ahead: A comprehensive economic program, launched by InfoPro InfoPro has launched Revival 2021, an emergency proposal for the short-term
 
     
  BUSINESS
 
Done Deal: Anghami to list on Nasdaq Anghami, Lebanon-funded music streaming platfrom, is planning to be the first Arab tech company to be listed on the Nasdaq stock exchange through a merger with Singapore-based Vistas Media Acquisition Co. (VMAC), a Special Purpose Acquisition Company (SPAC).
 
 
Agriculture: New public strategy focuses on technology and marketing Farming like other productive sectors, has the potential to thrive as the devaluation of the lira has made local crops more competitive abroad and food imports more expensive creating opportunities both on the domestic and global markets.
 
 
Outsourcing: Growing demand from abroad Companies enter the outsourcing business through a variety of avenues.
 
 
Insurance: Compensating explosion damages in murky waters of exchange rates Insurance companies have so far paid six percent of the total value of insured losses resulting from the Port Explosion.
 
     
  FINANCE
 
Tax: End consumers to be invoiced in lira Transactions in foreign currency to be booked at real exchange rates
 
 
In My Opinion: Exchange rate crisis, Makram Sader Exchange rates are linked to the structure of the country’s economy.
 
     
  CALENDAR
  International Trade Exhibitions and Conferences  
     



 

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