Author Archives: Jeremy Arbid

The rumors were true

The rumors were true

In late July, the latest round of American legislation targeting Hezbollah arrived, despite Lebanese government and banking officials downplaying rumors of it just a few months ago, as Executive reported. The Hizballah International Financing Prevention Amendments Act would supplement a 2015 law curbing the group’s access to banking systems, and is the latest legislative effort

C’est la vie

The decision in early June by the United States to withdraw from the Paris Accord, the latest global effort to combat climate change and adapt to its effects, sent shockwaves of uncertainty around the world. The agreement, which entered into force in November 2016, has the goal of limiting the global temperature rise to two

Changes from abroad

“Part II of this legislation is coming”, US House of Representatives Foreign Affairs Committee Chairman Ed Royce said in his opening statement at a committee hearing entitled “Attacking Hezbollah’s Financial Network: Policy Options.” The United States alleges the Party of God is a global crime syndicate and has designated Hezbollah as a terrorist organization. The hearing,

A balancing act

“Part II of this legislation is coming”, US House of Representatives Foreign Affairs Committee Chairman Ed Royce said in his opening statement at a committee hearing entitled “Attacking Hezbollah’s Financial Network: Policy Options.” The United States alleges the Party of God is a global crime syndicate and has designated Hezbollah as a terrorist organization. The hearing,

Transparency cookies are in the oven

The tools to monitor Lebanon’s hoped for oil and gas sector are nearly on the workbench. In January, the government committed itself to joining a global transparency initiative, and in March, a draft law promoting the future sector’s transparency was finally shown to the public. Taken together, they could help Lebanon build a clean oil

Maximizing oil and gas potential

In an effort to maximize the benefits for the local economy from the oil and gas industry, the Lebanese Petroleum Administration (LPA) has included provisions in the model exploration and production sharing agreements to help domestic companies. The contracts state that when oil and gas companies need to procure goods, they must give preference to

Full of gas

Lebanon will finally be rescued from the electricity cuts it has long suffered from, or so says the government as it trumpets its latest plan for the sector. Eight years ago, Electricité du Liban (EDL) supplied, on average, only 18 hours of electricity per day, and an ambitious plan from 2010 did not accomplish much

Interview with Georges Corm

Now that the government has approved the 2017 budget, the question remains as to what new taxes or tax increases might be imposed. As Executive goes to print, the indication is that there will be some introduced, but it is not clear which, and Parliament will have to debate the budget before it is ratified

Tax squeeze

Lebanon is closer to ratifying a national budget than it has been in recent memory. For the past 12 years, the country has not passed a budget into law. In recent years the roadblock has been, at least publicly, a salary increase for certain public sector workers. The debate is taking place in a fiscal

The public sector’s vulnerability to a cyberattack

In Lebanon, the speed at which the government is moving and the speed at which cyberthreats are developing are totally different. Cyberdefense planning, it appears, is not much of a priority for the Lebanese government. The country does not have legislation to protect digital rights, lacks legal penalties to deter criminal cyberattacks and has only

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