Overview articles

The many new faces of Lebanese poverty

The many new faces of Lebanese poverty

No wonder the Lebanese would rather be Swiss. In a world where global average wealth, according to the 2019 global wealth report (GWR) by Credit Suisse, has approached $71,000 and the average net wealth of the Swiss was said to be top of the world at $565,000, the disparity between the average net wealth of

Reversing the Trend of Emotional Lows: The Case of the Beirut Explosion

“The impact of a traumatic event of this intensity and scale goes well beyond what the eye can see. It is therefore important to acknowledge that victims of this traumatic event are not only limited to survivors of physical injuries, as victims include responders and witnesses who might also exhibit psychological and emotional distress. In

Executive’s “Quote of the Month” throughout 2019

JANUARY “It’s different from Washington and London, we should maybe teach them how to run a country without a budget.” Then-caretaker foreign minister, Gebran Bassil, answering a question on cabinet formation in an interview with CNN, January 22, 2019. FEBRUARY “My decision and the government’s decision is to work, work, work.” Prime Minister Saad Hariri,

Drive … At your own risk

Our roads are unsafe. A large number of the cars on our roads are inefficient, polluting, and even dangerous to drive. Many go uninspected, as people thumb their noses at the law, and many more are cheap cars that were damaged and repaired badly, bought secondhand on the gray market. On top of everything else,

Private returns

International reports suggest that the Middle East is currently the world’s second fastest growing region in private wealth, trailing only Asia. According to a Global Wealth 2017 report published in June by Boston Consulting Group (BCG), an international management consulting firm, the private wealth segment picked up momentum globally in 2016, but with visible regional

The lights are on, but no one’s at home

Property developers with projects in and immediately around Beirut are in trouble. In late November, Massaad Fares – president of REAL, Lebanon’s syndicate for real estate brokers and consultants – explains that a years-long sales slump at the highest end of the market is having a wider economic impact. Developers with too much exposure to

An awfully quiet year

When compared with the banking sector and the initiatives taken by Banque du Liban (BDL), the year was unnervingly quiet for the country’s insurance industry. Preliminary information on the performance of insurance companies suggests that the 4 percent growth in gross premiums to $1.2 billion at the end of the third quarter was low when

Regional instability harms Lebanese exports

The year 2016 was a difficult one for Lebanon’s manufacturing and agriculture sectors. Exports have been one of the clearest indicators of the challenges the sectors have faced and, in general, of Lebanon’s depressed economy – largely due to the war in neighboring Syria, a conflict that has cut Lebanon off from its larger trading