Business articles

Advertising woes

Advertising woes

Reading Time: 2 minutes For the first time since 1992, IPSOS STAT, which monitors media advertising expenditures in Lebanon, reported a decrease during the first semester of 2003. Previous reports had reflected growth even when the actual market was in decline. In fact, total gross media advertising expenditures in Lebanon declined from $105 million in 1998 to $85 million

Clean and clear

Reading Time: 4 minutes Mohammed Samir, the Egyptian head of P&G (Proctor and Gamble) Levant is sitting in the conference room of P&G’s offices in the prestigious Atrium building in the BCD. Next to him, above to his right is a massive bag of Ariel. On his left is Monica Mogabgab, P&G’s communications officer. P&G has built up a

The Italian Job

Reading Time: 6 minutes Lahoud summed it up better than most. Speaking to the cabinet during a discussion on the EDL file, the exasperated president turned to the ministers and raised his arms. “What do you expect me to say when you tell me that $3 billion has gone missing from EDL. I am speechless.” EDL is indeed in

Corruption’s hefty price tag

Reading Time: 6 minutes 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

A growing epidemic

Reading Time: 7 minutes 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

From the eye of the storm

Reading Time: 5 minutes On September 30, Ayoub Humayed met with Executive for a political reality check on EDL, during which he answered questions on recent accusations leveled at EDL over corruption and criminal waste of public funds. In doing so, minister Humayed provided Executive with much anticipated answers on the issues of graft and transparency at EDL. E:

So just how much trouble is Bush in?

Reading Time: 5 minutes Events in the Middle East are not exactly turning out the way President George W. Bush would have liked, and this is particularly bad with an election year just around the corner. The situation in Iraq is not progressing nearly as fast or as successfully as was initially hoped for. Rather, resistance to the continued

The wedding planners

Reading Time: 4 minutes This year, roughly 1,000 couples, spending between $25,000 and $35,000 each, retained the services of wedding planners, those hardy souls who organize, advise, coordinate and offer a shoulder to cry on. Essentially an American import, wedding planning has evolved from a few scattered operators into a lucrative $7 million niche sector, serviced by a dozen

The tortoise and the hare

Reading Time: 4 minutes After a two-year hiatus, Admic, the $100 million retailer that brought us BHV and Monoprix, is making its next move. This month sees the opening of a third 2,250m2 Monoprix in Zouk, while in November, Monoprix number four, with 3,600m2, will open its doors for business in Hazmieh’s Baabda Plaza. But why the wait, especially

Bush’s flawed Middle East manifesto

Reading Time: 7 minutes Last month, Condoleezza Rice, Bush’s national security advisor, compared the present post-Iraq war situation in the Middle East to post World War II Europe. “America,” wrote Rice in her August 7 editorial published in the Washington Post, “committed itself to the long-term transformation of Europe.” She goes on to say: “…our policymakers set out to

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