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

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

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

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.

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