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Downtown Beirut already boasts a Murr, Phoenicia and Marina Tower. Soon the Platinum Tower will be added to the capital
Lebanon loves Europe. From German cars to Italian clothes and French foods to Dutch beers, up to 60% of Lebanese non-
oil imports come from Europe. Therefore, as the Euro soars to an all-time high against the dollar, it seems logical, even likely, that 2004 will be a year of high inflation.
Two leading Lebanese economists, however, tell us not to worry. Kamal Hamdan doesn
Three years after American Kathryn Gustafson won the international competition to design the so-called Garden of Forgiveness in the downtown area, the first stage in the construction of the public park has finally seen the light. The garden
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How many LL50 and LL100 coins will buy you a doughnut at Dunkin
To offer owners of private jets and people flying into Beirut by privately chartered aircraft a softer, smoother arrival, a new terminal is currently being built at Beirut airport. Dubbed the General Aviation building, this, the third and latest phase in the rebuilding of the airport, is effectively a VIP terminal offering separate, more efficient customs, visa and luggage handling services. While the first phase of airport expansion in 1998 saw the construction of the eastern part of the main terminal, the second phase in 2001 saw the completion of the main terminal
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Viagra users in Lebanon will this month be presented with a choice: to continue using Viagra, whose impotence-combating effects last for a few hours, or to switch to Cialis, which lasts for a whopping 36. Cialis, a new anti-impotence drug produced by biotech firm Icos and marketed by US pharmaceutics powerhouse Eli Lilly
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The Beirut International Marathon (BIM) has already put Lebanon on official marathon calendars, with over 3,500 runners registered. However, so far the event looks like a personal project. Envisioned by May El-Khalil, who describes herself as
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.