Banking & Finance articles

Corruption’s hefty price tag

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

It’s all in the name

Reading Time: 4 minutes

Did it ever occur to you that your email address could be presenting you in a bad light? Last year, 31 million emails were sent each day. According to the International Data Corporation, by 2006, this number is expected to reach 60 billion, while the number of worldwide email addresses is expected to increase from

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

Tough sell

Reading Time: 4 minutes

Recent data suggests that commercial banks and financial institutions in Lebanon are increasingly shying away from corporate lending. In fact, most major banks remain wary of the Lebanese corporate environment, as they still attempt to mend their existing portfolios of corporate debt, to the extent of actually reducing the size of their portfolio of commercial

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

Out of reach

Reading Time: 7 minutes

Information and Communications Technology (ICT) stands undisputed as the sector with the greatest importance for any country seeking to position itself at the forefront of the “knowledge” economy. Banking and education are key, but manufacturing automation, health care, hospitality, logistics, media and all other advanced services industries depend on ICT. Modern government and public sector

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