Author Archives: Thomas Schellen

Shopping as easy as ABC

Shopping as easy as ABC

Two major retail clusters are evolving in metropolitan Beirut just in time for the shopping season. Spinneys last month inaugurated its first hypermarket in Jnah, while the ABC Mall in Achrafieh is being readied for its scheduled grand opening with top political figures on November 29, and will start to admit shoppers early this month.

A seasonal ‘flop’?

Despite the usual upbeat suggestions that tourism is on the up and up in Lebanon, the Arab World Trade and Tourism Exchange (AWTTE), held at the BIEL exhibition center from 16 to 19 September, was, in the words of one hotel marketing director who participated,

Banking on transparency

Lebanon’s ranking in the 2003 Corruption Perception Index of international watchdog organization, Transparency International (TI) was poor. Receiving a rating of 3.0 on a scale ranging from 0 (totally rotten) to 10 (impeccably clean), Lebanon ranked 78th for perceived levels of corruption in 133 countries. However, it did rank significantly higher than the dirty dozen

Driving costs

Driving your car in Lebanon has never been so expensive. Neither has the government swallowed a more substantive share of the transportation budget from private households. Since the introduction of value-added tax in February 2002, the government’s revenue participation has reached and exceeded 50% on the amount a consumer spends on the purchase of a

Long road ahead

We are living in a brave new auto world. Still fairly early into the automobile’s second century, fuel economy and safety features of modern cars have reached levels that make automotive technology appear close to the point of quasi-perfection, where further improvements, short of reinventing the wheel, seem hardly worth the additional effort. A look

Ticket to ride

As weak demand in the Lebanese car market has taken its toll on dealer profitability, new opportunities emerged through several automotive brands that had been under-represented in Lebanon, or are new to the country. To address niches, distributors played their strengths, and some opted to mobilize synergies that they might not otherwise have utilized. In

Q&A: Samir Homsi

The Automobile Importers Association teams up all local car agents who hold distributor contracts with international auto manufacturers. Avidly working to represent the interests of these primary agents, the AIA emphasizes a unified presentation of official importer concerns to the media and Lebanese public. EXECUTIVE talked to the president of the AIA, Samir Homzi. E:

A growing epidemic

When World Bank President James Wolfensohn opened the annual meetings of the World Bank and International Monetary Fund last month in Dubai, he said the world was out of balance, with one sixth of the global population controlling 80% of global GDP and the divide between rich and poor nations ever increasing. The head of

Corruption’s hefty price tag

In the academic analysis of economics, corruption is a clear and present danger. “Efficient allocation of resources is the key to the capitalist system,” said Karim Salameh, managing director at Saradar Investment House and member of a new generation of Lebanese economists. “In the textbook answer, corruption cripples because it diverts resources away from their

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