An accumulation of economic woes

Executive met with then-caretaker Minister of Economy Raed Khoury to discuss McKinsey & Company’s economic vision (commissioned by the government in late 2017 and published in early January), the ministry’s progress in regulating private generation of electricity, and the political and economic situation of Lebanon ahead of mid-January’s Arab League Economic and Social Development summit,

Lebanon’s parliamentary productivity

At first glance, the legislative output of the Lebanese Parliament impresses with its extreme volatility. To full understand the matter of legislative productivity requires a contextual view that takes political environment into account. The election of Michel Aoun as president in October 2016 ended almost two and a half years of vacancy in the post,

A play in need of actors

Lebanon has no difficulty evoking the idea of a circus, or, as we said in the previous issue of this magazine, a political carnival. Our absurdist theater troupe had seemingly perfected its performance of the tragicomedy with the title “Government without Head.” But in January, there were two new and hopeful twists added to the

An uninspiring economic vision

In January, Lebanon published slides outlining McKinsey’s economic vision—the outcome of a report commissioned by the Ministry of Economy and Trade in late 2017 following government discussions. The 1,274-slide document was developed over the first half of 2018, and outlines an economic vision produced by the consulting firm and owned by the government.    If

Here we go … again

We have a new government and even the most skeptical among us is relieved. Of the 30 ministers, a handful are promising, young, dedicated men and women who have honorable records. It is our hope that these new faces will be able to maintain their untarnished reputations and demonstrate their ability to deliver what is needed in

E-banking lands in Mar Mikhael

A walk in Mar Mikhael reveals that it has become the hub of hospitality for millennials in Lebanon; during the day, its appealing restaurants and quick snacks attract those who work in the area, while in the evening, it’s a destination for gatherings with friends over drinks or bistro dinners. As such, Banque Libano-Française (BLF)

McKinsey’s uninspiring economic vision

In January, Lebanon published McKinsey’s economic vision slides that were the result of government discussions in late 2017 on commission by the Ministry of Economy and Trade. The 1,274 slide show document was developed over the first half of 2018, and can be seen as an economic vision outsourced to the consulting firm with ownership

Forever younger, forever on a quest

“…it seems to have been reserved to the people of this country, by their conduct and example, to decide the important question, whether societies of men are really capable or not, of establishing good government from reflection and choice, or whether they are forever destined to depend, for their political constitutions, on accident and force.”

2018 has been a better year for startups

Lebanon’s startup ecosystem is in much better shape today than 10 years ago, thanks in large part to Circular 331 from Banque du Liban (BDL), Lebanon’s central bank. We at B&Y Venture Partners have invested in some fantastic companies with exceptional founders and are very pleased with the quality of our portfolio to date. Most

The growing pains of Lebanon’s entrepreneurship ecosystem

Despite the one big news story that dominated watercooler conversations in entrepreneurship circles, the community at large had a comparitively good year. The quality and quantity of startups has increased, as witnessed at multiple demo days throughout 2018. Several exciting international and regional events were staged in Beirut, some for the first time. There is

Is there a real estate crisis?

Since at least 2014, the country’s real estate developers have been warning of troubling times ahead. The sector slowdown had begun much earlier, as Executive reported in its October 2018 real estate special report, and sector stakeholders have, for several years now, expressed hope that the next year would be better—repeating this mantra, as if

Lebanon’s entrepreneurship ecosystem

Lebanon’s entrepreneurship landscape has “leapfrogged” since August 2013, when Banque du Liban (BDL), Lebanon’s central bank, released Circular 331 that authorized Lebanese banks to invest in new startups in the knowledge economy. This policy has spurred the development of new growth capital funds and the entry of commercial banks into the equity market, unleashing (theoretically)

Lebanese startups in need of investments

Historically, Lebanon’s economy has in large part depended on services, including tourism, F&B, financial services, education, and design. In addition, Lebanon has a strong agriculture sector that constitutes another pillar of the economy. Still, these services and resources are limited in scale due to the scarce availability of local resources, whether natural or human. As

The UNIDO view on Lebanon’s industrial sector

History shows that roughly all developed countries, which currently benefit from a high standard of living, have gone through a period of successful industrialization—during which the industrial sector, benefiting from high levels of technological advancement and innovation, was the driving force behind national economic growth. A close look at Lebanon’s development pattern tells a different

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