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
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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
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
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
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
He played a leading role in many landmark advertising campaigns in Lebanon, and national messages in several Arab countries.
New Born Companies
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.
Looking Ahead: A comprehensive economic program, launched by InfoPro
InfoPro has launched Revival 2021, an emergency proposal for the short-term
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.
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.