Within weeks, a US government-funded, 24-hour Arabic-

language satellite television network is to start airing in the Middle East as part of Washington

The use of electronic payment cards in Lebanon and the region has grown rapidly in the past four years, according to statistics by Visa Card International. But with few exceptions, Middle Eastern markets remain debit card markets. Data provided by Visa International for the region in the period from March 1999 until March 2003 show a doubling and even a tripling in the number of payment cards issued, transaction volume and transaction value. Lebanon, which showed increases in total transaction volume of 832% over the four years (and 58% for the year ending March 31, 2003), was the second highest gainer. In terms of cards issued, the numbers quintupled in Lebanon during the past four years to about 331,000, an increase far exceeding the region-wide average growth rate of 134 percent for the same period. Only Jordan and Oman led Lebanon in the growth rates of numbers of cards issued and transaction value.

Although the network of outlets accepting cards grew by under 25% in terms of a regional average over the four years, expenditures of cardholders in Middle Eastern transactions developed healthily. In Lebanon, where the number of outlets accepting Visa cards grew from 7,700 in 1999 to 10,700 in 2003, retail card expenditures more than tripled from $62 million to reach $194 million in retail sales value, suggesting that participating merchants benefited well from their card facilities.

While electronic payment cards are advancing, the Visa International data does not show significant progress in the region

Shopping month is upon us again. But this year it has come almost as a surprise. In mid-January there had still been no pre-festival publicity.

In late September, as the US Congress debated the Syria Accountability Act, a new cabinet was appointed in Syria. After Muhammad Mustapha Miro stepped down as prime minister, President Bashar Assad

ARAB COUNTRIES: Insurance Density and Insurance Penetration (SOURCE: Muhanna Foundation)

This could be a very opportune time to take a good long look at the Middle Eastern insurance industry, where far-reaching changes are expected region-wide. On the static side of how things are, stand the numbers on territory, population and economic performance, in relation to insurance. According to data circulated by the General Arab Insurance Federation (GAIF), these basics are a surface of 14 million square kilometers, a populace of 300 million people and a compounded GDP exceeding $700 billion, of which 1%, or $7 billion, are spent on insurance. In per-country averages, citizens of Arab states each allocate between $5 and $243 for general insurance, with average annual spending computing at $22 per capita for the region, says GAIF.
Studies from the other side indicate that the Arab contribution to global insurance premiums is a mere 0.22% overall, split into just under half a percent of non-life and less than a tenth of a percent of life premiums (2002 figures, as presented in an overview of the Lebanese insurance sector by financial institution Saradar Investhouse).
In global comparison, the Arab region is critically under insured, but so is most of the world. The average Swiss citizen, for example, spends about $5,000 annually on insurance

Small and nimble players are consistently finding innovative ways to strike big against the Goliaths. This is true whether in today

Less popular cruises?

While 60 cruise ships dock at Beirut each summer only one, the Ausonia, takes on new passengers, and for three years now, Lebanese holidaymakers have signed up for the weeklong Greek island cruise, organized by the Cypriot company, Louis Cruise Lines. That was until this year, when prices went up by about 5%, noted Toufic Keyrouz, general manager of the travel agency Lebanese International Tours, who feels that the budget cruise may have had its day.

Paul Zahlan, a director of Lebanon

According to Chateau Musar, the 2003 wine harvest promises wines that are

Lebanese experts on urban planning and zoning contend that this communal discipline of real estate management exists as nothing more than a quasi-reality here. Sights from nearly every nook and cranny of the country corroborate the judgment. From north to south, communities overflow with building structures that defy common sense, communal planning and esthetics.

The latest breast cancer awareness campaign has not only been extremely successful, it has also cost the government nothing. The campaign, estimated to cost around $200,000, was fully funded by the pharmaceutical company Roche, which also dipped into its pockets last year. But this time, with the backing of the government, Roche managed to get free airtime on TV channels and radio stations. This collective effort helped reduce the final bill.