Author Archives: Executive Staff

Q&A: Georges Corm

Despite regional instability, a soaring public debt and the threat of international sanctions under UN Resolution 1559, the Lebanese economy experienced its strongest growth in seven years, largely due to a record number of tourists, increased exports and vigorous real estate activity. Yet, according to Georges Corm, the key to sustainable economic growth and greater

Economy Voices – Reform Horoscope

Joey Ghaleb: Economist at the ministry of economy and trade E: How could the Lebanese Government give new impulses to the economy through public spending in 2005? Although “Paris II” may be long forgotten, the Lebanese must keep reminding themselves that soothing political sound bites do not pay the bill. Major structural reforms do and

A proud Trading tradition

I taught you value of information and how to get it,” yelled Gordon Gecco (Michael Douglas) to Bud Fox (Charlie Sheen) in the iconic 1980s movie Wall Street. Those few words constitute the whole vortex around which the movie is predicated. And while insider trading is a major felony in developed securities markets, it is

Q&A: Ali Abdallah

E: What was the ministry’s strategy in 2003? AA: This year should see a robust and energetic campaign to promote the Lebanese tourist industry, especially in light of the encouraging figures that were recorded in 2003. Not since 1974, 20 years ago, have we seen over one million visitors and the business that was generated

Q&A: Freddie Baz

How long were the two banks involved in negotiations before signing the agreement to form a single group? The two banks have had a long proactive relationship. Every now and then we sat together on the managerial level and assessed the situation of the banking industry in Lebanon and the consolidation process. In this favorable

Year of the bull

The year 2003 is history and, in the US, the market battle is now beginning again. For the month of January, we will have to struggle with summaries of what happened during the last year and predictions of how the major indices will perform in 2004. Neither times gone by nor anticipation will make us

The art of leadership

How can I become a leader? This question pops up quite often with the assumption that there is some magic formula for leadership lying around somewhere. There isn’t. People want us to tell them “the five easy steps to become a leader”. But, they don’t exist. How great it would be if leadership could be

Efficiency not mediocrity

In the first nine months of 2003, four main developments were observed: the unexpected rate of growth in bank’s deposits or in monetary aggregate M3, the sector’s participation in easing the state’s debt burden; the reduction of interest rates; the creation of a mechanism to review and settle non-performing loans. (I) Growth of M3 We

High hopes

The adversity of the past three-year bear market in US equities has been steadily forgotten over the course of 2003, as we enjoy the present blessings of a stronger economy and a nine-month-long rally. Investors and speculators are now stressed with the question of how much longer the good times will last. The major worry

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