Society articles

Lebanon’s insurance industry survives war intact

Lebanon’s insurance industry survives war intact

Lebanon’s insurance companies passed through the 2006 war between Israel and Hizbullah without having to pay crippling amounts for war-related claims, because this type of coverage is not a usual purchase option. (In any country, a house caving in beneath the impact of a force majeure is not calculable, and ineligible for cover under a

Lebanon’s media has tough year but confident of turnaround

Last year, Lebanon’s media industry went on a proverbial rollercoaster ride far more thrilling and precarious than anything America’s major theme parks could possibly dream up. Next year looks to be equally action-packed, as the sector struggles to make up for $38.7 million in losses sustained during Israel’s month-long war on Lebanon, overcome low advertising

Obituary- Pierre Gemayel 1972-2006

Pierre Gemayel, the 34-year old Minister of Industry, who was gunned down in broad daylight in Jedideh in East Beirut on November 21, was the fifth member of one of Lebanon’s most prominent Maronite dynasties to meet a violent, untimely death. Gemayel, who won a parliamentary seat in 2000 as a representative of the Phalange

Lebanon in the crosshairs – Outsiders meddle in Levant

Lebanon looks set to embark upon the new year in a state of greater unease and foreboding about the imminent future than at any time since the end of the 1975-1990 war. The resignations in mid-November of six cabinet ministers—all five Shia and an ally of President Emile Lahoud—and the accompanying specter of street demonstrations

Calling all tourists – Picking up the pieces

After an outstanding first half of 2006 and a catastrophic second, any recovery for the tourist industry is once again at the mercy of political stability. The last two years have hardly been a smooth ride for those working in Lebanon’s beleaguered tourist industry. Beset by high-profile assassinations, troop withdrawals, car bombs, an under-funded government

Turkey’s CA woes Reform needed

With the release of the International Monetary Fund’s (IMF)’s report on the fourth and fifth review for Turkey’s standby agreement, the state of the country’s finances has come under fresh scrutiny from market observers, with ongoing concern over the size of the current account (CA) deficit. Strong economic growth coupled with high oil prices has

Killing Mr. Lebanon – New book on target

On that sunny February day in 2005 when they killed Rafik Hariri, Basil Fuleihan and 21 others outside the St. Georges hotel, I was due to have lunch at Le Vendôme at 1pm. However, that morning the venue was changed. Had it not, and being the punctual sort, I would have arrived in Ain Mreisseh

Samsung’s growth in Middle East – CE giant hopes to expand its brand

This September in Berlin, in his keynote address at IFA 2006, the world’s largest consumer electronics exhibition, Samsung President and CEO Gee Sung Choi reviewed the tremendous success enjoyed by his company over the past few years and highlighted several exciting new developments on Samsung’s horizon. With 2005 parent company sales of $56.7 billion and

Running on Empty -Beirut‘s car market kaput

The Lebanese car market had its worse summer in decades thanks to the war and a two-month sea blockade, with the number of new registered cars dropping 81% in August compared to the same month last year. The sector is only slowly clawing its way back, with sales down 41% for September. With the economy