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.

Paying the hospitals

After much back-and-forth in the media, in mid-July an agreement was finally hammered out between the Syndicate of Hospitals and the various government entities and public employee groups that collectively owe almost LL500 billion in unpaid hospital bills. The terms of the deal stipulate that the hospitals

Two major retail clusters are evolving in metropolitan Beirut just in time for the shopping season. Spinneys last month inaugurated its first hypermarket in Jnah, while the ABC Mall in Achrafieh is being readied for its scheduled grand opening with top political figures on November 29, and will start to admit shoppers early this month. With 32,000 square meters of retail area and extensive entertainment facilities, including a seven-cinema multiplex and a health club, the operators of the 140,000 square meter shopping behemoth promise their customers a totally new experience. The lineup of eateries in the mall