As a nation, Lebanon was doomed from the start. This is the unifying theme of the mainstream anti-establishment message. The country’s sectarian power-sharing arrangement spawned a cancer that prevented the growth of a national identity and crippled state institutions. Today, a “leader” in Lebanon cannot rally the nation. He can rally his community, or a…
Outside of the Silicon Valley bubble
In the sweltering July heat, entrepreneurs from around the world were in Beirut pitching to join the Endeavor network. Founded in 1997 as a non-profit support network for entrepreneurs (focused on Argentina and Chile), Endeavor is now assisting founders of young companies in 27 countries around the world (including Lebanon since 2011). In 2012, the…
Moving parts
Beirut Mayor Jamal Itani offers two words when asked about his vision for city spending: “investment projects.” During a brief interview in late July, Itani explained a variety of the city council’s plans, from making Beirut more pedestrian-friendly to balancing private and public interests along the city’s contentious coast. E What is the city’s…
The real estate bubble has burst
In the absence of hard data, anecdotes and speculation become the basis of analysis. Take, for example, the question of whether or not there is a real estate bubble in Lebanon. From the results of a Google search for the terms “Lebanon real estate bubble,” the sector seems like it is in real trouble. The…
At long last…
While some of the terminology is the same, in 2018 Lebanon will have an electoral system unlike anything it has ever seen. The new electoral law, approved by Parliament in June, features changes to electoral districts and introduces two new components: proportional representation (PR) and preferential voting. It is certainly more complicated than the electoral…
Unicorns with humps
When venture capitalist Aileen Lee first employed the term “unicorn” to refer to startups valued at or above $1 billion, she intended to stress just how uncommon a creature she was describing. In a November 2013 post that spawned a Forbes list, Lee identified and analyzed 39 “US-based tech companies started since January 2003 and…
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…
Investment expectations
Walid Nasr’s eyes rolled so far back his head, Executive worried he was having an episode. The Lebanese Petroleum Administration (LPA)’s head of strategic planning was clearly disappointed. Only a few moments into an event organized by the Lebanese Forces, the emcee had wasted no time in estimating the value of Lebanon’s undiscovered offshore oil…
Troubled waters
From a technical standpoint, the East Mediterranean is a challenge because the seabed is generally more than one thousand meters below the surface. Ultra-deep water, in industry parlance. From a geopolitical standpoint, the complexity is arguably even greater. Many problems among a variety of neighbors Production of East Med gas began in Egypt in the…