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The Buzz

Executive Magazine Front Covers 2012

by Executive Staff January 1, 2014
written by Executive Staff

Executive Magazine has been producing in-depth reports about Lebanon and the Middle East since 1999. Here are all our front covers from 2012.

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#150_jan12_LEB[/media-credit]

January’s issue focused on the economic impact of the “Arab Spring” uprisings.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#151_feb12_LEB[/media-credit]

February’s issue focused on the Lebanese job market and its impact on the Lebanese youth.

 

 

[media-credit name=”Executive” align=”alignnone” width=”500″]executive_cover_mar_ME[/media-credit]

March’s issue focused on the Middle Eastern conflicts arising from oil. Read the articles here

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#153_april12_LEB[/media-credit]

April’s issue focused on the price of cancer treatment in Lebanon. Read the articles here

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#154_may12_LEB[/media-credit]

May’s issue focused on legal advice to landlords and old renters. Read the article here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#155_june12_LEB[/media-credit]

June’s issue focused on the financial threat Syrian banks face from the USA.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#156_juLY12_LEB[/media-credit]

July’s issue focused on the rise of the cost of living in Lebanon. Read the article here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#157_aug12_LEB[/media-credit]

August’s issue focused on the impact it would have on the economy if drugs, guns and prostitution were to be legalized. Read the article here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#158_sept12_LEB[/media-credit]

September’s issue focused on why the Lebanese people generally fail to secure good pensions.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#159_oct12_LEB[/media-credit]

October’s issue focused on the shortcomings of the government’s economic policy.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX_nov12_LEB-#160[/media-credit]

November’s issue focused on Lebanese entrepreneurs. Read the article here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#161_dec12_LEB[/media-credit]

December’s main story is a review on the event’s that occurred throughout the year and an insight into the future.

January 1, 2014 0 comments
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The Buzz

Executive Magazine Front Covers 2013

by Executive Staff January 1, 2014
written by Executive Staff

Executive Magazine has been producing in-depth reports about Lebanon and the Middle East since 1999. Here are all our front covers from 2013.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#162_jan13_LEB[/media-credit]

January’s lead story focused on the entrepreneurship scene in Lebanon, with one article exploring places for entrepreneurs to work and another focusing on the Beirut Creative Cluster.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#163_feb13_LEB[/media-credit]

February’s lead story focused on why Lebanon’s oil and gas sector is unlikely to solve the country’s electricity crisis. Read the full story here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#164_march13_LEB[/media-credit]

March’s lead story focused on why the Lebanese are the advertising industry’s dominant players in the Middle East and North Africa. Read the full story here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#165_april13[/media-credit]

April’s issue included a special report on the Lebanese in New York. You can read the articles here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#166_may13[/media-credit]

May’s lead story was a special report on the Lebanese healthcare system. Read all the stories here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#167_june13_2[/media-credit]

June’s focused on how Lebanon’s banks are moving abroad to dodge stagnation. Read the full story here.

 

[media-credit name=” Executive” align=”alignnone” width=”500″]EX#168_july13[/media-credit]

July’s lead story investigated the country’s child labor market. Read the full story here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#169_aug13[/media-credit]

August’s lead story focuses on the Khoury Home takeover. Read the full story here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#170_sept13-final[/media-credit]

September’s issue explored on struggle for gay rights in Lebanon. Read the full story here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#171_oct13[/media-credit]

October’s issue looked deep into Lebanon’s offshore oil and gas, including a Q&A with energy minister Gebran Bassil. Read the full story here.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#172_nov13new[/media-credit]

November’s lead story is focused on Lebanese and Arab entrepreneurs.

 

[media-credit name=”Executive” align=”alignnone” width=”500″]EX#173_dec13[/media-credit]

December’s lead story is a review on the event’s that occurred throughout the year and an insight into the future.

January 1, 2014 0 comments
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Economics & Policy

Killing the economist

by Greg Demarque December 28, 2013
written by Greg Demarque
A carbomb exploded in downtown Beirut on December 27, 2013, killing former finance minister Mohamad Chatah and at least six others, while twisting nearby cars and shattering windows [Photo: Greg Demarque/Executive]
Security forces, firefighters and medics quickly rushed to the scene. At least 50 people were also injured [Photo: Greg Demarque/Executive]
Lebanese media quickly followed [Photo: Greg Demarque/Executive]
Inspectors examine what was formerly a car, twisted beyond all recognition by the blast [Photo: Greg Demarque/Executive]
The shattered facade of a nearby building [Photo: Greg Demarque/Executive]
Downtown is an up-market area in the center of the city, with new developments common [Photo: Greg Demarque/Executive]
December 28, 2013 0 comments
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ArtCulture

Back to the drawing board

by Maya Sioufi December 27, 2013
written by Maya Sioufi

Most artists would be over the moon if their work featured in renowned British collector Charles Saatchi’s collection. Not Zeina Assi. She was unaware of the fact that one of her works was in his possession until I mentioned it to her.

Assi works from a ground floor studio in Zalka, east of Beirut, but most of her work focuses on the capital and its urban chaos replete with crammed buildings, electricity wires and laundry on balconies. Each floor of each building in the city tells a different story and this is what Assi attempts to portray. Beirut evolves rapidly, inspiring Assi to continuously adapt her work. Tall structures replace older buildings; whilst the city’s demographics are changing too as it is becomes less accessible to some Beirutis who find themselves compelled to reside in the more affordable suburbs. Her paintings are often a reflection of how changing politics and economics impact the wider society — the key focus of her work.

Assi often shows the plight of the common man and woman. They are not portrayed as happy, nor sad; not as heroes, nor villains. For Assi, happiness is just a moment in time and she has no interest in portraying cheerful faces. Instead she is drawn to the silence around the person and their thoughts.

One such painting that encapsulates this inclination — “Ya Beirut Ya Set A-Douniah” (Oh Beirut, Oh Lady of the Universe) — sold for $75,000 at Christies’ Middle East auction house in Dubai in April this year. A stellar result, but one that Assi does not want to focus on. “I left the advertising industry to be on my little cloud and they push you down back to the real world. You have to learn how to draw the line to keep the little cocoon,” she says. Her pieces have adorned the walls of galleries and fairs in cities including Beirut, Dubai, Manama, Paris, London and Miami.

NO AGENDA

Assi says she does not intend her work to have a clear message. Rather than begin with a defined agenda, she looks around and observes how people are behaving to portray them on her canvases. Her work is a reflection of what is happening around her. So it is only natural for her to explore the Syrian crisis. In her “Bug soldiers” series Assi ruminates on the destruction and futility of war, portraying fighters as mutated insects, deriving strength merely from their power in numbers.

She says she is not with or against the Syrian government; she is merely portraying what she perceives from the ongoing turmoil. “I hate it [when people say] ‘She is with the [Syrian] people against the government,’ or ‘with the government against the people.’ It’s not that.”

Assi was a late bloomer in the art world, having explored a career in the advertising industry before deciding to focus all her energy on art.  With no technical artistic education and no mentor guiding her, she taught herself different styles — from impressionism to abstract — to train her hand, eventually developing the identity that can now be seen on her canvases. Her work is reminiscent of that of Austrian expressionist Egon Schiele, a source of inspiration for her. But she stresses that her inspiration comes from several sources — from painters such as Schiele to illustrators such as the French Jean-Jacques Sempé to animators like the American Tim Burton.

Assi is currently focusing on a sculptural depiction of Beirut made up of small cubes laid one over the other in addition to a complementary set of paintings portraying the Lebanese capital’s often chaotic city-scape.

As she looks to illustrate what is happening around her she finds it essential to include elements that are part of her everyday life; from the logos of Facebook, Starbucks and Marlboro to smartphone emoticons.

Looking forward, Assi plans to continue exploring new ideas and artistic means. Animation movies excite her, to the point she says she would even consider quitting painting altogether to focus on animation within the next five years.

“Work, work, work.” That is Assi’s motto and her advice to young artists looking to succeed. “You know what they say, ‘Inspiration does exist but when it comes knocking, it should find you working.’” As she accompanies me to the door of her studio, she rolls up her sleeves before promptly turning and heading back to her craft. 

December 27, 2013 0 comments
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Insurance

Considerable coverage

by Paul Cochrane December 27, 2013
written by Paul Cochrane

“In 2014, [we will] conduct a series of training courses for our member companies. Having strong and growing skills is the key for the success of our member companies”

Jamil Harb, secretary general, Association of Insurance Companies in Lebanon (ACAL)

“We have just finalized a professional liability policy for all members in the Lebanese Insurance Brokers Syndicate. All syndicate members will be covered for professional liability starting January 1, 2014”

ISSAM HITTI, president, Lebanese Insurance Brokers Syndicate

“This is going to be a huge endeavor … we will be working to assure that the refugee population will receive as much as they can in terms of healthcare under the limited budgets provided by the donors”

Walid Hallassou, general manager, GlobeMed Liban, on their recent contract with UNHCR for medical care for Syrian refugees
December 27, 2013 0 comments
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AutomotiveVoices

Gearing up in a stalling market

by Paul Cochrane December 26, 2013
written by Paul Cochrane

“We are playing on a different battle field from the Chinese brands. I am not sure they will be able to make inroads, as the Korean brands will not let them take market share”

Anthony Boukhater, co-CEO of ANB Holding, distributor of Mazda

“I built a Lamborghini showroom, but in the end, I need customers. Should I build a Fiat showroom to satisfy the manufacturers? We are not Monte Carlo”

Michel Trad, general manager of Saad & Trad, dealer of Jaguar, Bentley, Lamborghini, Fiat and Abarth

“There’s still a market for luxury, although there’s a downsizing in cars, not because of the economy or politics, but the traffic — we had a trade in of an Aston Martin for a Mini”

Nagy Heneine, general manager of Bassoul-Heneine, dealer for BMW, Renault, Alfa Romeo, Mini and Dacia

“Even when the situation is bad and you can’t control it, having good service helps you to survive and not be forgotten in the market, even if other brands are moving up”

Farid Homsi, general manager of IMPEX, distributor for Chevrolet, GM, Cadillac and Isuzu
December 26, 2013 0 comments
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Wine

Heard it on the grapevine

by Nabila Rahhal December 26, 2013
written by Nabila Rahhal

“I am happy that after I have been fighting for this for so many years we finally have it. I have done my homework. Wine has taken back its place in Lebanon”

Serge Hochar, president and general director of Château Musar, speaking of the passing of the law for the creation of the National Wine Institute

“It will take time and people have to be patient. It takes time to [apply] the bylaws and organize. It’s not the savior though and competition is more important. Competition is there so regulation is there. But I am optimistic and in time I think we will be doing great work as an institute”

Hady Kahale, general manager at Ixsir, speaking of the National Wine InstituteI

“it is changing but very slowly. It’s a very tough business: producing wine is easy and I can teach you in one day but producing a quality wine is very difficult. So many details go into this that we call it a passion. You cannot do it if you don’t love it”

Ramzi Ghosn, CEO and winemaker at Massaya and Co, speaking of the wine production sector in Lebanon

“We have a sexy product. We have one of the best terroirs in the world in terms of weather conditions, soil and altitudes. We [have been] a wine producing country since the Phoenicians. Lebanese are very well connected so we can export our wines easily”

 Faouzi Issa, co-owner and winemaker at Domaine Des Tourelles 

“We don’t make much wine, only 8 million bottles in fact. It’s nothing really, not even by regional standards – Cyprus makes around 33 million bottles – but this means we can play on scarcity, sell it at a premium and market Lebanon as the ultimate boutique nation”

Michael Karam, author of the award winning “Wines of Lebanon”

“While lower end wines abroad are treated in an industrial way through machine production, the more expensive and prestigious [wineries] have an obligation to hand pick grapes and select them properly. In Lebanon even our lower end wines are treated this way. So if you compare a $6 bottle of Lebanese wine with the same range foreign wine there is no comparison”

PAUL CHOUEIRY Oenologist and general manager of Les Caves de Taillevent

“It is a quality project and we are very proud of what we have achieved already but with the situation [in Syria] now, this investment will not be profitable before many years. Ultimately, we have to make money but it is a lot about passion”

Sandro Saade on Domaine De Bargylus wine
December 26, 2013 0 comments
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Tourism and Hospitality

Rolling with the punches

by Nabila Rahhal December 26, 2013
written by Nabila Rahhal

“Clubs and alcohol and such are always the last to be affected in times of crisis. In nightlife, you make the most money in one bulk — during the holidays and weekends — and it is sustainable for the subsequent period, while in restaurants you make the same amount every day and so are more vulnerable to slumps in business”

Tony Habre, founder and chief executive officer of Add Mind

“People are drinking less but are drinking better: when you start appreciating spirits, you’d rather have two good bottles instead of four average ones. This has to do with taste, selection and availability. they go a little bit higher in price but they get better quality”

Wadih Riachi, general manager of Vintage Wine Cellar

“We are looking forward and have a vision though the situation puts you on your nerves. But our clients keep us going: birthdays and weddings are still happening so you have to be there. we are part of people’s life celebrations”

Nadine Zantout Makari, marketing director at Eaternity

“I believe in order to have a successful hospitality venture in Lebanon these days you have to have the right concept and not be dependent on a potential overflow of customers in the form of tourists or expats”

Rabih Mockbel, founder and CEO of Mockbel Holdings

“Those who have money are still spending as before but those who are of a mid-income level are spending a bit less, creating a vicious circle where if one does not make money one cannot spend as much and this in turn reflects on the venue owner”

Toni Rizk, managing partner at TRI F&B Consultancy

“We have some very good hotels but if we get more than a certain number of tourists per year the hotels will be congested, the airport will be congested and so will the roads. We are still not geared for a big inflow [of tourists] and there are a lot of infrastructure changes and build-ups we have to go through”

Mazen Salha, owner of Phoenicia and Le Vendome hotels

“Opening this hotel shows that we are not going to give up on Lebanon and that Lebanon will remain standing and investments will continue”

Ihab Kanawati, general manager of Staybridge Suites Beirut
December 26, 2013 0 comments
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Real estate

Coping with the crunch

by Thomas Schellen December 26, 2013
written by Thomas Schellen

“Buyers still have interest in buying land. The problem lies in finding adequately priced plots of land — the majority of plots are still priced unreasonably high relative to the potential of the market”

Karim Makarem, managing director, RAMCO Real Estate Advisors

“There was growth in supply but this growth [is stopping] because developers and other builders are exiting the market and not developing anything new. Thus, because no more major or large amounts of developments are coming, I don’t think that the situation in 2014 will be much worse”

Houssam Batal, chief executive officer, Premium Properties

“As a developer, you have to go and find the client and offer him something that he needs. Every single company, developer or broker needs to have a research department these days”

Mireille Korab, head of sales and marketing, FFA Real Estate

“I have a feeling that we are almost at the end of this tough period.  But I hope that nobody will do new developments because people need to breathe a little bit. It is now the market for people to take time, to think, and I would like people to sit and focus on urban planning, to take care of this jungle”

Ayad Nasser, chief executive officer, Loft Investments

“Obviously what we are living through is not easy and being able to adapt quickly was the key. To give an example, we knew that 2013 would not be easy; there were going to be elections and we knew that going ahead with billboard sales at the time of the elections would be tricky. But what happened? The situation was much worse”

Samer Bissat, senior project director, Majd Al Futtaim Waterfront City

“Demand for apartments will continue only for small units and the luxury market will take a few more years to start seeing any improvement. So apartments between 75-sqm and 150-sqm will be leading in demand”

Chahe Yerevanian, chairman, Sayfco

“Today the Aura project in Erbil [Kurdistan] is our only ‘escape’ from Lebanon and we are happy with the sales prospects for Aura. From a risk-diversifying point of view, at Zardman we don’t think we will take any project outside of Lebanon in 2014”

Makram Zard, general manager, Zardman

“Concerning the Syrian families, their situation will also excite the demand to increase but we are looking forward that the political situation in Syria be solved in general”

Dr. Hassan Tajideen, chief executive, Tajco
December 26, 2013 0 comments
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Entrepreneurship

Birthing businesses

by Executive Editors December 26, 2013
written by Executive Editors

“Today you have 20 leading companies in Lebanon that employ people — that do a lot of good. they provide A livelihood to a large number of people. Having another 20-40 companies in the next 10-20 years that reach that size and that have that income just doubles the opportunities out there”

Tarek Sadi, managing director at Endeavor Lebanon

“At the seed stage, you want quantity. You want more and more startups because you know that most of them are going to fail … you need a factory of startups that gets them out one after the other”

Fadi Bizri, managing director at Bader Lebanon

“Imagine our first fund does not perform well … We lose our investors, they will not come back. we need to make money in order for the investors to be happy, to reinvest in other funds, in bigger funds to help the ecosystem get new funding”

Walid Hanna, managing partner at Middle East Venture Partners

“Role models inspire people to emulate them. They think if he can do it, I can do it. The world is filled with inspiring people that have been copied, emulated, and looked up to THAT get people to act”

Fadi Ghandour, founder of Aramex and chairman of Wamda

“The best way to create cohesion is to form an entrepreneur-led board for the entrepreneurial community. You need to have people talking to local authorities. And you have to have the traditional business leaders helping”

Johnathan Ortmans, president of the Global Entrepreneurship Week

“Serious economists wonder why our economic activity in this country hasn’t dropped further. Because any country that has normal arrangements facing these sorts of stresses — normally almost always ceases to function”

Khater Abi Habib, chairman general manager of Kafalat

“[Entrepreneurship] is the only way to transform the economy. The region is stuck in a model that doesn’t work where most employment comes from the public sector. Few individuals think about starting their own company and following their own destiny”

Usama Fayyad, executive chairman of Oasis500

“Clearly an entrepreneur in 2013 in Lebanon is so much better [off than] in 2010. I started my first company in 2004 and clearly it’s so much easier in so many ways”

Elie Habib, co-founder of Anghami
December 26, 2013 0 comments
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About us

Since its first edition emerged on the newsstands in 1999, Executive Magazine has been dedicated to providing its readers with the most up-to-date local and regional business news. Executive is a monthly business magazine that offers readers in-depth analyses on the Lebanese world of commerce, covering all the major sectors – from banking, finance, and insurance to technology, tourism, hospitality, media, and retail.

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    Executive Magazine
    • ISSUES
      • Current Issue
      • Past issues
    • BUSINESS
    • ECONOMICS & POLICY
    • OPINION
    • SPECIAL REPORTS
    • EXECUTIVE TALKS
    • MOVEMENTS
      • Change the image
      • Cannes lions
      • Transparency & accountability
      • ECONOMIC ROADMAP
      • Say No to Corruption
      • The Lebanon media development initiative
      • LPSN Policy Asks
      • Advocating the preservation of deposits
    • JOIN US
      • Join our movement
      • Attend our events
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