Venues are struggling to fill empty tables (Greg Demarque | Executive)

Local market rules

As another year rolls by with a meager number of tourists, and more young Lebanese leave the country for greener pastures while those who stay complain of empty pockets, Lebanon’s food and beverage (F&B) sector has had to be resourceful as it determinedly weathers yet another storm. The reality on the ground “There is an

(Greg Demarque | Executive)

Thinking outside the box

By definition, the hospitality sector is reliant on the presence of tourists, and therefore reliant on peace and stability. It is no wonder then that Lebanon’s hospitality industry, in both its hotels and food and beverage divisions, has been only limping along for the past few years. Yet, ever the entrepreneurs, those in Lebanon’s hospitality

Fin Com Strategy&

Going digital

Digital technology is reshaping wealth management around the globe, according to a Strategy& survey that appeared in our Global Wealth Management Outlook 2014–2015. Interestingly, however, wealth managers in the Middle East, while generally confirming the importance of digital technologies, did so with less conviction and sense of urgency than their Asian, European, and North American

(Phil Whitehouse | Flickr | CC BY 2.0)

Sowing seeds

Much is written and more is discussed about the impact of Syrian refugees on the Lebanese labor market. Plenty of analyses and proposals are in the air. This is as commendable as it is understandable: Lebanon faces both a humanitarian crisis and a labor market crisis. In the labor market, an already bad situation is

Abdallah and Ghaith Yafi (Greg Demarque | Executive)

Getting hands on

Just as Lebanon’s startup ecosystem is growing, so is the diversity of its funding sources. Abdallah and Ghaith Yafi are the brother duo behind Y Venture Partners (YVP), a new, early stage investment and advisory firm. Prior to starting this venture, they founded Lebanese ecommerce site ScoopCity as well as Canadian ecommerce site TheVolts. Executive

EITI

Extracting transparency

In October 2014, Lebanon hosted its first ever Petroleum Day. Much of the event’s focus was on civil society’s role in monitoring the country’s natural resources. One of the primary tools to aid this endeavor will come through the adoption of the Extractive Industry Transparency Initiative (EITI) — a global transparency initiative led by governments,

ENTRE Review

In comes the money

As of this year, startups in Lebanon will no longer have to complain over a lack of investors willing to give them cash in exchange for equity stakes. There are several new venture capital (VC) funds on the block, both from existing players and new ones. While this does not guarantee that entrepreneurs will not

Moving up

Positive steps

Entrepreneurs have had a good year in 2014. With the eTobb team being admitted to Mountain View’s 500 Startups, considered to be one of the top accelerators globally, and with one of the cofounders of Ki being admitted to the Startup Sauna accelerator in Helsinki, Lebanese startups are increasingly showcasing their talents abroad. Closer to

A technician cuts shapes using a machine capable of slicing through 33cm thick stainless steel

The technologies of tomorrow

Innovative Lebanese manufacturers are harnessing the technologies of tomorrow in their factories today. Executive went to Technica for an inside peek at how the company employs robotic technology in the manufacturing and maintenance of automated turnkey solutions — machines that, for example, package candy bars and other consumable products. Starting as a small operation in

COM bou abdalla_IDEA

Promising outlook

Lebanon’s entrepreneurial landscape has been maturing in recent years, as witnessed by the emergence of highly motivated youth, the growth of the venture capital industry, and the creation of accelerators and programs to support the development of new companies. Despite these commendable achievements, the country’s startups continue to face numerous challenges. While Lebanon provides a

Cristiano Pasini (Greg Demarque | Executive)

Industrialization in a global economy

Important partners of Lebanon, such as the European Union and the United Nations, have long advocated sustainable expansion of industrial capacity as a core requirement for Lebanon’s economic development. Past and present collaborative projects such as ELCIM (Euro-Lebanese Center for Industrial Modernization) and the interaction with the United Nations Industrial Development Organization (UNIDO) are testimony

It's coming for us

Industrial revolution 2.0

Technological leaps are almost always accompanied by a loss of jobs. Tailors, blacksmiths and letter carriers are all either obsolete or in steep decline thanks to advances over the past several hundred years. Yet most of the time, these losses are outnumbered by new positions created as a result of such destructive technologies. The companies

Currently, Lebanese industry relies mostly on foreign R&D

Bright ideas

According to a recent World Bank study on global competitiveness published in 2012, Lebanon ranks very poorly on its capacity for innovation and the quality of its research institutions, in addition to low private sector spending on research and development (R&D). Having said this, there is consensus among international financial organizations that Lebanon has the

Technica manufactures automated production lines (Executive |Greg Demarque)

Muddling through

For Lebanon’s manufacturers, 2014 was a difficult year. The promising gains the sector had made in the preceding year were diminished as the many oft-cited impediments — those of political and security instability, and high operating costs — hindered a continuation of industrial growth. It was, at best, a year in which factories muddled through

|Greg Demarque|

Industry matters

Top Asian industrial producers like China, South Korea and Thailand consistently rack up over 30 percent of their gross domestic product (GDP) from the value added by their manufacturing industries. The contribution of manufacturing to the Lebanese economy in each of the past 10 years has, by the World Bank’s estimations, notoriously been below 10

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