Author Archives: Thomas Schellen

Transition scenarios and their bleak alternatives

Transition scenarios and their bleak alternatives

Reading Time: 10 minutes For the roundtable on financial reality, monetary needs, and trade and energy issues, the discussion brief invited debate on the role and responsibility of the central bank, the banking sector, the insurance sector, and capital markets in Lebanon, coupled with exploring the country’s circumstances with regard to trade and remittances, its interdependency on international financial

The search for a fairer, more redistributive tax system

Reading Time: 6 minutes The roundtable covered in this piece was dedicated to economic angles of fiscal reform and taxation. Thus, in the context of Executive’s mission and coverage focuses, both it and the accompanying sixth roundtable on financial reality were a hardcore expression of this magazine’s existential paradigm to cover the Lebanese economy to the best of its

Hard new looks at the tech ecosystem and its entrepreneurial future

Reading Time: 7 minutes Before the October 2019 uprising, it was not difficult to list unresolved questions and some outright disappointments with the way that the Lebanese entrepreneurship ecosystem had been shaped in the past six years since Lebanon’s central bank, Banque du Liban (BDL), effectively launched it with publication of its Circular 331. In mid-November, amid the uprising,

The madness of clowning around in an economic tornado

Reading Time: 8 minutes Two months after a blundering collage of new budgetary revenue measures drove people into a unified and spontaneous civil uprising, the state of Lebanon remains an unresolved mess. Six weeks of attempts by the political regime to uphold and reorganize what the people perceived as a corrupt system only made the country’s social and economic

Executive’s roundtable initiative

Reading Time: 3 minutes When darkness and despair are the first two options on the menu for your country, followed by austerity and depression as the plat de jour proposals, nothing is more appropriate than to assemble a crowd of light seekers and path finders. In this sense, it is a testimony to the seriousness of the national economic,

Keep the spirit of this revolution

Reading Time: 3 minutes Constitutions are serious stuff. The one that I grew up under is known as the Grundgesetz—the fundamental law of Germany. In its first line, this constitution declares that the dignity of the human being is inviolable and that the state has to honor and protect it. Back at the time of this constitution’s drafting 70

Houmal Technology Park

Reading Time: 5 minutes Houmal Technology Park (HTP) can be an example of tech manufacture and fruitful entrepreneurialism. Export orientation of tech companies can be realized independently from the Lebanese entrepreneurship ecosystem that relies on Circular 331. First-mover disadvantages of pioneering tech companies need to be compensated by state and municipal partners for creation of productive clusters. Risks pertaining

Entrepreneurship in times of systemic change

Reading Time: 9 minutes October 2019 events have hallmarks of systemic shocks. Risks are unfathomable and early economic impact evaluations are necessarily inadequate. The future may depend on extraordinary courage, discipline, and daring visions. Entrepreneurship has the potential to be a key ingredient in building national prosperity. These are times when a discussion of entrepreneurship—Executive’s traditional focus in the

A perspective on the solutions offered in last-ditch efforts of old government

Reading Time: 8 minutes The government’s economic rescue plan has been rendered theoretical. The political context of its presentation reveals real dimension of governance failings in the past two years. Analysis of the plan’s composition shows it to be disparate and desperate. Economic reality will require huge efforts beyond the scope of the last plan. What to do with

Eugene Kaspersky on how to protect industry in the IoT age

Reading Time: 14 minutes On his first visit to Lebanon, Russian cybersecurity magnate Eugene Kaspersky divided his time between discussions with ministries, long-time banking clients, and visits to the country’s famed archeological sites. In between, he took time to sit down with a few media entities. In an interview that was arranged as a joint meeting of Kaspersky with

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