Reading Time: 3 minutes Trust in politicians and governments is usually a result of a successful performance, but it is also—perhaps more significantly—an ingredient for success. Without it, citizens and businesses are less likely to respond to public policies, especially those that are seeking to promote economic recovery and stability. Trust is necessary to increase the confidence of investors…
A roadmap to recovery
Reading Time: 27 minutes There is one question on everyone’s mind: Is there still a way out of the current crisis or are we going to fall into an abyss with an intense deterioration of all economic indicators that could lead to dire consequences? A summary of the current economic situation will help us analyze its sustainability. Then we…
Oil and gas will not save Lebanon
Reading Time: 3 minutes As Lebanon races to enter the new oil producers club, decision-makers display a dangerous tendency to put all hopes on this uncertain sector and label it as the economic savior. This goes against the advice of Lebanese experts who have been warning against a “presource” curse (the underperformance of economic growth after a commercial discovery,…
Reforms to the Lebanese electricity sector beset by delays
Reading Time: 11 minutes The September 15 attack on Saudi oil facilities that temporarily wiped out 5 percent of global supply did more than trigger a short-term oil trading frenzy with wild price jumps on international markets. It put into sharp relief the issue of Lebanon’s dependency on fossil fuel and—most important in the context of dismal fiscal health—its…
UAE emerging as a global innovator in AI
Reading Time: 5 minutes The past few decades have seen major advances in the field of artificial intelligence (AI). As a result, AI has become a transformative business force, specifically in the technology sector. Numerous organizations are significantly expanding their use of AI tools and services, with 2018 a landmark year for this trend. Supporting technologies, such as computational…
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…
Lebanon is finally seeking to leapfrog into digitally empowered spheres
Reading Time: 10 minutes It may be Lebanon’s best bet for a long-term economic future. This underused economic resource has been idling for over 20 years. It is not of fossil origin or other conventional finite resource. Built entirely on the strength of human ingenuity and collaboration, this resource now appears ready for another attempt at making it in…
The budget outlook for 2019
Reading Time: 3 minutes It took more than seven months to complete the 2019 budget law, despite the pressing need to have completed it by the maximum constitutional deadline of end January 2019. Had Lebanon managed to produce the 2019 budget within the mandated time frame, it would have gone a long way toward restoring confidence in the ability…
Regional turmoil threatens to engulf Lebanon
Reading Time: 4 minutes Three sets of regional conflicts and turmoil are impacting Lebanon. The country, yet again, finds itself in the most volatile of all regions, with a weak state and a corrupt set of politicians. You would not wish this storm on your worst enemies. The first is the ongoing turmoil emanating from the growing wealth gap,…
Dissecting recent Lebanese economic developments
Reading Time: 8 minutes A lot of rumors have been circulating lately regarding the economic situation in Lebanon. Every citizen, whether an economic expert or not, is worried about the liquidity in the system and is trying to analyze the different scenarios and probabilities of occurrence of an economic and/or financial crisis. On the economic front, growth in the…