Wastewater projects receive a $100 million boost. Akkar, Chouf, Bekaa, and Arkoub are target areas

Parliament approved on November 13 a loan agreement with the Arab Fund for Economic and Social Development to complete miscellaneous wastewater projects.

The loan, valued at 30 million Kuwaiti Dinars (around $100 million), will be paid back over a period of 18 years, with a grace period of five years, with a yearly interest of three percent.

The loan will be used to develop a 108 kilometer-long wastewater network through 20 villages in Akkar. This includes 27 km of additional seco...

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Revival of Tripoli exhibition fairgrounds. City officials and business organizations will partner in BOT-scheme

Tripoli's officials are planning to revive the one million square meter Rachid Karame International Fair. The private sector, represented by the Chamber of Commerce, Industry, and Agriculture in Tripoli and the North and the public sector, represented by the Municipality of Tripoli and the Order of Engineers, expressed commitment to restore and operate some of the fair's facilities.

Houssam Kobayter, Chairman of the fair, said: "We received an initial approval by the Chamber to restore an...

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High-income consumers willing to pay $7 per app. Market opportunities for Arabic apps

High-income earners are willing to pay more than $7 to purchase a mobile app, according to a study prepared by local ArabNet, in collaboration with On Device Research.

The report said that this represents an opportunity for app developers and publishers to create higher-value, high-priced apps to cater to this market segment.

The most common amount paid for in-app purchases is between $1 and $4.99. More than 40 percent of respondents said they make one-off in-app purchases to obta...

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Cooperation office in Oman by Chamber of Commerce. Interest in manufacture, agriculture, and tourism

The Chamber of Commerce, Industry, and Agriculture in Beirut and Mount Lebanon (CCIA-BML) plans to open an office for economic cooperation in the Sultanate of Oman. A similar office will also open at the CCIA-BML headquarters in Beirut for bilateral cooperation.

Chadi Massaad, Chairman of the Lebanese Omani Business Council, said that Said ben Saleh al-Kayyoumi, Chairman of the Omani Chamber, promised to raise the issue soon to the Council of Ministers for approval.

Mohammad Chouca...

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Parliament passes 38 awaited economic laws. Includes loans and grants for infrastructure works

The Parliament has passed 38 draft laws and decrees that were related to grants and loans. The approval of these funds were approaching their deadlines, and starting to affect the country's financial outlook.

Around $600 million worth of loans and grants have been sanctioned. These include two loan agreements with the European Investment Bank (EIB) for funding highway projects and the construction of the Bisri Dam. Other laws include the ratification of loan agreements with the Arab F...

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Country needs $6.2 billion in infrastructure. Public-private partnership highly recommended

Spending on infrastructure through Public Private Partnerships (PPP) would stimulate the Gross Domestic Product (GDP) in the medium and long terms, according to Ziad Hayek, the Secretary General of the Higher Council for Privatization.

He said: "Lebanon needs $6.2 billion in the sectors of power, water, transport, and services, through PPP."

Hayek, who was speaking at a workshop at the Basil Fleihan Institute, said that these investments would boost GDP growth by 4.4 percent. A sp...

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Industrialists: To sort trash before it is exported. Recycling factories are at risk of closing

The Association of Lebanese Industrialists (ALI) called for sorting the garbage before exporting, if the Government adopts the exporting option.

Fadi Gemayel, Chairman of ALI, said: "We refuse exporting the garbage without sorting it, as this will impact the economy, mainly the industry, and local labor."

This request from ALI comes after the failure in implementing the municipalities' decentralization plan and proposing the export of garbage.

According to ALI around 30 pe...

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Pressing economic issues waiting for Parliament quorum. Grants and soft loans worth $600 million need ratification

A Parliamentary session has been called for by Speaker Nabih Berri on November 12-13 to ratify several loans and grants that are about to expire, as well as laws in the fields of finance, infrastructure, and public works.

A 38-item agenda has been set, including $600 million worth of loans and grants, including two loan agreements with the European Investment Bank (EIB) for funding highway projects and the construction of the Bisri Dam. Other items are dedicated to the ratification of lo...

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No economic crisis according to Central Bank. Riad Salameh praises resilience and will enhance BDL lending policy

The Central Bank (BDL) said the country was not in an economic crisis because negative growth had been avoided and the monetary position remains strong. The country is expected to record zero percent growth this year as per BDL projections, down from an average of two percent through previous estimates. BDL reviewed its growth prospects due to political conflicts and security uncertainty that are weighing heavily on the economy.

"Given the situation in the Middle East, Lebanon is showing...

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Industrialists bidding to manage Iraqi factories. Iraq’s Government showing clear interest in involving Lebanese

Lebanese industrialists have the opportunity now to invest in rehabilitating and managing Iraqi factories owned by the public sector, which had been closed or had their production halted for the past several years. More than 33 factories are open for private management.

Fadi Gemayel, Chairman of the Association of Lebanese Industrialists (ALI), said: "The Iraqi Government has shown interest in involving Lebanese industrialists in the management of these factories."

The Iraqi Govern...

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Saida’s new port completes first phase. Old port to open only to fishermen

The first phase of a new port in the Dekerman area, at the southern entrance of Saida has been completed.

It includes a 150 meter-long dock and a one-kilometer long jetty. The quay has an area of 200,000 square meters and a depth of 15 meters, which is suitable for medium sized vessels. This phase cost $17 million and took two and a half years to complete.

The second phase is awaiting the 'Order to Proceed' by the Ministry of Public Works and Transport (MoPWT). Upon the port's com...

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Growth and success stories highlighted. At Business Opportunities Conference

More than 750 business managers, investors, and officials attended the 12th edition of the Business Opportunities in Lebanon Conference being held at the Phoenicia Hotel November 2-3.

The conference, the largest business event in the country, is organized by InfoPro, parent company of Lebanon Opportunities, under the theme 'Growth and success… no matter what'.

Ramzi El Hafez, Publisher of Lebanon Opportunities, said: "Our country is going through ugly, smelly and challenging times...

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Garbage plan within 48 hours. Bekaa landfill to be moved to Choueifat

The long-awaited garbage plan will be implemented in the next two days, according to the Ministry of Agriculture, which is heading a ministerial committee to follow up on the plan's implementation.

The landfill, which was slated for the Bekaa region, is expected to be moved to the southern suburb of Choueifat, sources close to the ministry said.

The committee presented Prime Minister Tamam Salam a full report about the changes to the plan and efforts made with members of the civil ...

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World Bank: Bad marks for ease of doing business. Prevailing paralysis will lead to deterioration of services

Lebanon's effort to improve the business climate has not been serious lately, according to the 'Doing Business 2016' report issued by the World Bank Group, which ranked it 123 out of 189 among countries, in terms of ease of doing business.

The country had a score of 56.39 out of 100 in the 2016 ranking compared to 56.50 in 2015. The report noted the absence of any reforms for the two consecutive years.

"The political process is in deep paralysis, which has been hampering reforms," ...

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Office to promote economic ties with GCC. To ease business operations

The Chamber of Commerce Industry and Agriculture of Beirut and Mount Lebanon (CCIA-BML) launched on Wednesday the Office for the Promotion for Lebanese-Gulf Economic Relations.

This office will be at the disposal of any Gulf investor who wants to invest in Lebanon, said CCIA-BML's Chairman Mohamed Choucair, who will head the new office.

"We will assist investors in establishing their companies in Lebanon. If for instance, they want to obtain licenses, such as an industrial license...

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Remittances to reach $7.5 billion by year’s end. Growth despite falling oil prices

Remittances by Lebanese working abroad to their home country are estimated to reach $7.5 billion by the close of 2015, up from $7.45 billion at the same time last year, according to the World Bank's Migration and Development Brief. This represents a turnaround from a decline of 5.3 percent in remittances in 2014 compared with 2013.

This expected improvement is mainly due to more stability in the global market, especially in Europe, said Wissam Harake, Economist for Lebanon at the World Ba...

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Land reclamation in Tripoli economic zone begins. Works to take 18 months

Reclamation of land in the Tripoli Special Economic Zone (TSEZ) is scheduled to start this week, according to Chairperson, Raya Haffar el Hassan.

The Council for Development and Reconstruction (CDR) awarded the tender to AlJihad for Commerce & Contracting, according to Ibrahim Chahrour, Director of the Planning and Programs department at the CDR. The 18-month long works include the reclamation of 550,000 square meters of sea, north of the Port of Tripoli. Rafik El Khoury & Partners will a...

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A $250 million fund to invest in Cuba. Partnership may include local banks

The Lebanese-Cuban Businessmen's Council is preparing to launch a $250 million investment fund, immediately after the removal of the American embargo on Cuba, which is expected on October 27.

The fund will be in partnership with Lebanese banks. Negotiations are underway and Fransabank is expected to join in the deal, due its 20-year long history of dealings with Cuba, according to Rodrigo Malmirca, Cuban Minister of Foreign Trade and Investment. The bank has declined to comment.

A...

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Government to distribute transportation subsidies. Support aimed at regain exporters’ competitive edge

Farmers and industrialists are now benefiting from the Government's subsidy that covers the cost of transportation through roll-on-roll-off (RO-RO) ferries.

The total subsidy allocated is $14 million. It will be separated by the Investment Development Authority in Lebanon (IDAL) directly to the ferries that are registered and classified according to its standards.

IDAL said that three ferries will be shipping to Duba port and Al-Aqaba port in Jordan. Subsidies will be paid when th...

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Mobile tender postponed to Nov. 11. Delay to allow Orascom to bid

The Department of Tenders has postponed to Nov. 11 the opening of the bids for the mobile network tender, said the department's Director General, Jean Ellieh.

The postponement was in compliance with the State (Shura) Council's decision to allow Orascom Telecom, Media and Technology (OTMT) to bid in the tender, according to Ellieh. The Egypt-based Orascom manages Lebanon's state-owned Alfa mobile network but the contract expires by the end of 2015. The telecom operator was previously exclu...

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National competitiveness improving. Corruption and mismanagement of public facilities are main challenges

Lebanon's global competitiveness has improved compared to last year, according to a report published by the World Economic Forum in partnership with Bader and InfoPro.

Several indicators that give the final score had positive results. Among the most noticeable are innovation and sophistication, which rose to 3.58 compared to 3.33 last year.

"The country's ranking improved this year due to its dynamic society and health and educational systems," the report said.

Bader Chai...

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Retail sales up following a 30-month drop. Retail Activity Index details sub sector trends

Retail trade has been in a recession over the last ten quarters, according to the 'Retail Sales Activity Indicator in Lebanon' study. It was launched today by the Lebanese Franchise Association (LFA) and the Chamber of Commerce Industry and Agriculture of Beirut and Mount-Lebanon, (CCIA-BML). Retail sales have turned around and increased by 2.2 percent in the first half of 2015 compared with the same period of 2014. The study obtained the information from shopping malls and payment card operator...

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Gas bottles to be replaced. Price to increase by LL1,000

The Ministry of Energy and Water (MoEW) will replace all butane containers.

Four million units of Liquefied Natural Gas (LNG) bottles for residential and commercial use will be replaced by new ones, to be manufactured by the Bekaa-based Sigma, according to Farid Zeinoun, Chairman of the Syndicate of Gas Distributors.

The MoEW has estimated that there are four million units in the market, according to 2003 numbers. The syndicate expects that there might be additional demand especial...

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Industrial permits up by 38 percent. There were 94 licenses issued for new industrial establishments

Industrial permits issued by the Ministry of Industry (MoI) reached 357 licenses in the first half of 2015, increasing by 38 percent from the same period last year.

Establishment licenses, i.e. to start a factory, represented the highest percentage (38 percent). Investment licenses, related exploitation of the facility, represented around 22 percent.

Most licenses were issued to industries from the third category (45 percent) or semi-light industries, such as food industry factor...

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Nine garbage treatment facilities receive EU funding. Sorting and composting in the North and South

Around €35 million euros ($38.5 million) will be financed by the European Union to build and equip nine sorting and composting facilities in the North and South in 2016.

The Office of the Minister of State for Administrative Reform (OMSAR) is in charge of launching the tenders for building and equipping the facilities in Baalbek, Akkar Srar, Tripoli, Dannieh, Bint Jbeil, Nabatieh, and Tyr.

OMSAR and the concerned municipalities are also responsible for launching tenders for oper...

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Firms to cash-in post Iran sanction lift. Sectors to benefit: Infrastructure, hospitality, and insurance

The private sector is ready to tap the Iranian market, once sanctions are lifted in early 2016, according to the timeline set by international negotiators.

Two economic delegations visited Iran this month, representing the private and public sectors, to explore investment opportunities. The official delegations headed by Minister of Finance, Ali Hassan Khalil included five senior officials from the ministry, and chairmen of economic bodies. It also included Lebanese businessmen from Afric...

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More water projects in Bekaa. To reduce leaks, pollution

The Bekaa Water Establishment (BWE) launched a project for water supply in northern and central Bekaa. The project is initiated in cooperation with the United Nations Higher Commission for Refugees (UNHCR), and international NGOs, Oxfam, World Vision, and GVC.

The project, valued at 21.5 million euros ($24 million), is funded by the European Union.

Nine villages, including Kob Elias, Taalbaya, Riyak, and Ablah will benefit from the installation of new main networks. BWE Chairman Ma...

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Municipal dues for 2014 will be paid. Mount Lebanon to receive $70 million

The Council of Ministers has agreed to distribute the 2014 revenues of the Municipal Fund, totaling $350 million, to municipalities and unions of municipalities.

Unions of municipalities will receive $42 million of the total. The Union of Fayhaa Municipalities will receive the highest share of dues, with $2.5 million. The unions of municipalities in Tyr and Shkif will come in second.

Another $29 million will be used for diverse development projects across all municipalities.

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Works on Tripoli’s Eastern Ring Road begin. Will be linked to Arab Highway, West Ring Road

Expropriation of property for Tripoli's Eastern Ring Road has just begun. The $100 million project is partly funded by the Islamic Development Bank (IDB).

The 8.5 kilometers road starts from Wadi Abu Halka on the coastal road and reaches the entrance of the Beddawi Oil Installations. It passes through Ras Maska, Zeitoun, Majdalya, and Beddawi. Works will be supervised and tendered by the Council for Development and Reconstruction (CDR).

The road will be made up of two lanes in both...

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Health education receives $80 million. Departments will have a capacity for 1,200 students

A loan agreement by the Islamic Development Bank (IDB) to finance a department for public health at the Lebanese University was approved by Parliament last month. The campuses in Tripoli and Fanar will benefit.

IDB will finance the project with a $72.5 million loan and the Government will provide the remaining $7.5 million. The loan will be paid back within 11 years, starting in 2020. The fee margin will be equivalent to the Libor rate (presently at 0.97) for six months plus 135 base poin...

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Zouk, Jiyeh plants restoration financed. A total of 960 megawatts of power to be refurbished

Parliament has approved, in its plenary session last month, a loan agreement for the restoration of the Zouk and Jiyeh power plants.

The Kuwaiti Fund for Arab Economic Development will finance the agreement with 25 million Kuwaiti dinars ($82 million). The loan has a two percent yearly interest and will be paid back over a period of 20 years. It has a grace period of five years.

The project entails restoring four power generation units in Zouk with a combined capacity of 600 megaw...

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Health expenditure increased by 70 percent in 16 years. Significant shortage of nurses

Health expenditures increased by 70 percent in the last 16 years, according to the 'Lebanon Economic Report' published by the World Bank.

Health spending per capita rose from $361 in 1995 to $621 in 2011, which is higher than the MENA average of $220. As a share of the Gross Domestic Product (GDP), the country's health expenditures remain quite high despite falling from 10.7 percent in 1995 to 6.6 percent in 2011.

According to the Ministry of Public Health (MoPH), the health bill ...

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Wastewater projects receive a $100 million boost. Akkar, Chouf, Bekaa, and Arkoub are target areas

Parliament approved on November 13 a loan agreement with the Arab Fund for Economic and Social Development to complete miscellaneous wastewater projects.

The loan, valued at 30 million Kuwaiti Dinars (around $100 million), will be paid back over a period of 18 years, with a grace period of five years, with a yearly interest of three percent.

The loan will be used to develop a 108 kilometer-long wastewater network through 20 villages in Akkar. This includes 27 km of additional seco...

Article details

High-income consumers willing to pay $7 per mobile. Market opportunities for Arabic apps

High-income earners are willing to pay more than $7 to purchase a mobile app, according to a study prepared by local ArabNet, in collaboration with On Device Research.

The report said that this represents an opportunity for app developers and publishers to create higher-value, high-priced apps to cater to this market segment.

The most common amount paid for in-app purchases is between $1 and $4.99. More than 40 percent of respondents said they make one-off in-app purchases to obta...

Article details

Cooperation office in Oman by Chamber of Commerce. Interest in manufacture, agriculture, and tourism

The Chamber of Commerce, Industry, and Agriculture in Beirut and Mount Lebanon (CCIA-BML) plans to open an office for economic cooperation in the Sultanate of Oman. A similar office will also open at the CCIA-BML headquarters in Beirut for bilateral cooperation.

Chadi Massaad, Chairman of the Lebanese Omani Business Council, said that Said ben Saleh al-Kayyoumi, Chairman of the Omani Chamber, promised to raise the issue soon to the Council of Ministers for approval.

Mohammad Chouca...

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Country needs $6.2 billion in infrastructure. Public-private partnership highly recommended

Spending on infrastructure through Public Private Partnerships (PPP) would stimulate the Gross Domestic Product (GDP) in the medium and long terms, according to Ziad Hayek, the Secretary General of the Higher Council for Privatization.

He said: "Lebanon needs $6.2 billion in the sectors of power, water, transport, and services, through PPP."

Hayek, who was speaking at a workshop at the Basil Fleihan Institute, said that these investments would boost GDP growth by 4.4 percent. A sp...

Article details

Industrialists: To sort trash before it is exported. Recycling factories are at risk of closing

The Association of Lebanese Industrialists (ALI) called for sorting the garbage before exporting, if the Government adopts the exporting option.

Fadi Gemayel, Chairman of ALI, said: "We refuse exporting the garbage without sorting it, as this will impact the economy, mainly the industry, and local labor."

This request from ALI comes after the failure in implementing the municipalities' decentralization plan and proposing the export of garbage.

According to ALI around 30 pe...

Article details

Industrialists bidding to manage Iraqi factories. Iraq’s Government showing clear interest in involving Lebanese

Lebanese industrialists have the opportunity now to invest in rehabilitating and managing Iraqi factories owned by the public sector, which had been closed or had their production halted for the past several years. More than 33 factories are open for private management.

Fadi Gemayel, Chairman of the Association of Lebanese Industrialists (ALI), said: "The Iraqi Government has shown interest in involving Lebanese industrialists in the management of these factories."

The Iraqi Govern...

Article details

Saida’s new port completes first phase. Old port to open only to fishermen

The first phase of a new port in the Dekerman area, at the southern entrance of Saida has been completed.

It includes a 150 meter-long dock and a one-kilometer long jetty. The quay has an area of 200,000 square meters and a depth of 15 meters, which is suitable for medium sized vessels. This phase cost $17 million and took two and a half years to complete.

The second phase is awaiting the 'Order to Proceed' by the Ministry of Public Works and Transport (MoPWT). Upon the port's com...

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Garbage plan within 48 hours. Bekaa landfill to be moved to Nabatieh

The long-awaited garbage plan will be implemented in the next two days, according to the Ministry of Agriculture, which is heading a ministerial committee to follow up on the plan's implementation.

The landfill, which was slated for the Bekaa region, will be moved to the southern village of Kfour, Nabatieh, sources close to the ministry said.

The committee presented Prime Minister Tamam Salam a full report about the changes to the plan and efforts made with members of the civil soc...

Article details

Government to distribute transportation subsidies. Support aimed at regain exporters’ competitive edge

Farmers and industrialists are now benefiting from the Government's subsidy that covers the cost of transportation through roll-on-roll-off (RO-RO) ferries.

The total subsidy allocated is $14 million. It will be separated by the Investment Development Authority in Lebanon (IDAL) directly to the ferries that are registered and classified according to its standards.

IDAL said that three ferries will be shipping to Duba port and Al-Aqaba port in Jordan. Subsidies will be paid when th...

Article details

Mobile tender postponed to Nov. 11. Delay to allow Orascom to bid

The Department of Tenders has postponed to Nov. 11 the opening of the bids for the mobile network tender, said the department's Director General, Jean Ellieh.

The postponement was in compliance with the State (Shura) Council's decision to allow Orascom Telecom, Media and Technology (OTMT) to bid in the tender, according to Ellieh. The Egypt-based Orascom manages Lebanon's state-owned Alfa mobile network but the contract expires by the end of 2015. The telecom operator was previously exclu...

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Haidar sinks along with 5,000 cows. Losses exceed $5 million

Haidar, a livestock vessel owned by local Tamara Shipping, a shipping agency managing, owning, and chartering six livestock vessels, sank today in the Amazon River along with 5,000 cows.

Gabe Dakemajian, Chairman of the Syndicate of Importers of Frozen Meats, Fish and Vegetables estimated the loss of 5,000 heads of cows at around $5 million, as well as the price of the ship. According to Hussein Daher, Chairman of Alostool Multi Model Trans Trade, the price of the ship did not exceed $50...

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National competitiveness improving. Corruption and mismanagement of public facilities are main challenges

Lebanon's global competitiveness has improved compared to last year, according to a report published by the World Economic Forum in partnership with Bader and InfoPro.

Several indicators that give the final score had positive results. Among the most noticeable are innovation and sophistication, which rose to 3.58 compared to 3.33 last year.

"The country's ranking improved this year due to its dynamic society and health and educational systems," the report said.

Bader Chai...

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China agreement yields $11 million in financing. To be bartered against local products

The Council for Development and Reconstruction (CDR) signed two loan agreements totaling $8 million and a $3.3 million in-kind grant agreement with the Embassy of China to finance public projects.

The loans have zero interest and will be repaid over a period of ten years. "The loans may be bartered against Lebanese products instead of money," said Wafaa Charafeddine, Director of Funding at CDR.

The projects that will be financed have not yet been selected. "We will act as counterpa...

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Jiyeh power plant on grid next month. Zouk plant to follow within a few months

The construction of a new power plant in Jiyeh is in its final stages.

"It will start producing power by the end of October," said Ahmad Loubani, Director of the Commercial Department at the Embassy of Denmark. The plant will increase total power production by 17 percent.

Danish firm Burmeister & Wain Scandinavian Contractor (BWSC), the project's contractor, is conducting testing and commissioning works in the preparation to link the new plant to the grid.

The Jiyeh plant ...

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Solution to waste crisis in hands of municipalities. Short term plan to resolve rising trash mountains

The Council of Ministers has received the plan of the ministerial committee tasked with handling the trash crisis.

The plan's main component is to ask unions of municipalities and municipalities to handle the responsibility of sweeping, collecting, and treating solid waste, according to Anwar Daou, advisor to the ministry of agriculture.

The committee is formed of the ministries of administrative development, interior and municipalities, environment, and agriculture. Representati...

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Three electrical substations will become ready in 2017. Matelec contract valued at $108 million

Construction works on three power substations in Bahsas-Tripoli, Mdawar-Ashrafieh, and the southern suburbs, have begun by Matelec, the contracted company.

The new substations will have the capacity to produce 220 kilovolts of electric output. Construction of the substations is expected to be delivered in early 2017. The consultant on the project is DEP Partners.

The contract was won by the local Matelec after being tendered in January 2014 at a value of $108 million. This project ...

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Public and private facilities go solar. Solar generated power finally being seen as alternative to power outages

More public and private facilities, touristic sites, and syndicates are leaning toward solar power to offset public electricity cutoffs.

The Chamber of Commerce, Industry, and Agriculture in Tripoli and the North revealed its intentions to build a solar plant on top of its building to light up the highway from the city's entrance to Bchara el Khoury and Achir el Daya streets. The project, valued at $350,000, is in its tendering phase. Among the latest entities also to adopt renewable ener...

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Imports of mobile devices drop by 85 percent. Illegal trade is back in first half of 2015

Imports of mobile devices have dropped by 85 percent in the first half of 2015, compared to the same period last year. Based on Customs figures, the value of the imports was $11 million this year, compared to $73 million in 2014.

George Azar, Group Strategy Director and Business Developer for AC Holding, local agent for Samsung, said that this was due to the cancellation of the International Mobile Equipment Identity (IMEI). "Smuggling is back at an even higher pace than before the IMEI ...

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