One bid received for gas exploration. Years required for commercial return

The Ministry of Energy and Water (MoEW) announced that only one consortium submitted two bids for offshore gas exploration.

The bidding procedure set by the Lebanese Petroleum Administration (LPA) requires a minimum of three companies to establish a joint venture, with at least one operator.

LPA announced that only one consortium participated in the
process. It will be led by the French operator Total, while the other non-operating partners are the Italian firm Eni Internationa...

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Parliament ratifies the tax law for the second time. VAT increased again to 11 percent

Parliament has approved the tax law that aims to finance a pay rise for public servants for the second time. The law was previously revoked by the Constitutional Council and was returned to Parliament.

The lawmakers again raised Value Added Tax (VAT) to 11 percent from ten percent, as they did in the previous ratification.

The approved taxes include new fees on imported alcoholic drinks, phone bills, tobacco, real estate contracts, and the lottery. The MPs also approved the impos...

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Chamber of Commerce represented in Cyprus. A platform to help investors

The Chamber of Commerce, Industry, and Agriculture in Beirut and Mount Lebanon (CCIAB) has opened a representative office in the Lebanese Business Center in Cyprus named 'Cedars Pavilion'.

Comed Cyprus, owned by George Moufarrej, is the company behind the center. The center will be a platform which introduces investors from both countries to one other and to feasible projects.

Mohammad Choucair, Chairman of CCIAB, said: "Economic relations between both countries are growing rapidl...

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