Business articles

Without credit

Without credit

The use of electronic payment cards in Lebanon and the region has grown rapidly in the past four years, according to statistics by Visa Card International. But with few exceptions, Middle Eastern markets remain debit card markets. Data provided by Visa International for the region in the period from March 1999 until March 2003 show

Licensed to sing

After having shown his face all over town to promote his first CD, fashion designer turned singer Elie Karam now has exposure he never dreamt of, putting him beyond the reach of less obscure local artists. For around three months, people all over the world have been able to listen to Karam

FYI Briefs – August

Paying the hospitals After much back-and-forth in the media, in mid-July an agreement was finally hammered out between the Syndicate of Hospitals and the various government entities and public employee groups that collectively owe almost LL500 billion in unpaid hospital bills. The terms of the deal stipulate that the hospitals

Regional perspective

ARAB COUNTRIES: Insurance Density and Insurance Penetration (SOURCE: Muhanna Foundation) This could be a very opportune time to take a good long look at the Middle Eastern insurance industry, where far-reaching changes are expected region-wide. On the static side of how things are, stand the numbers on territory, population and economic performance, in relation to

Slow hand

In late September, as the US Congress debated the Syria Accountability Act, a new cabinet was appointed in Syria. After Muhammad Mustapha Miro stepped down as prime minister, President Bashar Assad

Wining out

Massaya winery, which has played a major part in the renaissance of Lebanese wine, resigned from the Union Vinicole du Liban (UVL) last month. In a statement sent to UVL president Serge Hochar, Massaya co-owner Ramzi Ghosn said it was obvious that the interests of Massaya and UVL were irreconcilable and that the winery was

Nabatieh’s lost crusade

There is anger and disappointment in south Lebanon that a $62 million World Bank cultural heritage and urban development loan will not cover Beaufort Castle. The castle, a 12th century monument built during the Crusades, was used both by the PLO and Israel and its Lebanese allies as a strategic outpost during the war years

Q&A: Naji Boutros

Among globally active real estate funds, investment firm Colony Capital has made their mark after over 13 years of investing in real estate to the tune of almost $1 billion annually and managing equity capital on behalf of leading institutional investors. By identifying and buying real estate, real estate-dependent companies, distressed assets and non-performing loans,