Year In Review

What A Year

The breaking of political deadlock in Lebanon has given way to optimism for economic growth. The country is also banking on a key role in the eventual reconstruction of Syria.

Review

State of Affairs

After a 29-month recess, Lebanon finally has a new president in veteran operative and former general Michel Aoun. Whether he can keep Lebanon out of war and on good terms with competing regional hegemons will be a hallmark of his presidency.

Interview

HE General Michel Aoun, President, Republic of Lebanon

TBY talks to HE General Michel Aoun, President of the Republic of Lebanon, on reinvigorating and renewing the national pact, the importance of the economic planning for growth and stability, and building a more inclusive citizenship.

Guest Speaker

Nicos Anastasiades, President, Republic of Cyprus

TBY talks to Nicos Anastasiades, President of the Republic of Cyprus, on the ancient ties that bind Cyprus and Lebanon, the importance of recent and future offshore energy discoveries for bilateral relations, and the importance of working together to combat common security and political problems.

Focus: Regional Relations

On Good Terms

Looking to restore Lebanon's reputation as a credible mediator, stem the flow of refugees, and restart the flow of money, Lebanon's President Aoun takes a tour, following Lebanon's old money trails in hopes of sparking exchange with the Gulf states and bonding over shared concerns.

Guest Speaker

Mariano Rajoy, Prime Minister , Spain

TBY talks to Mariano Rajoy, Prime Minister of Spain, on the Spanish contribution to UNIFIL in the south of Lebanon, the powerful cultural proclivities between the two countries, and Spain's proven long-term commitments to the safety and prosperity of Lebanon.

Guest Speaker

Maite Nkoana-Mashabane, Minister of Foreign Affairs , South Africa

Maite Nkoana-Mashabane, Minister of Foreign Affairs of South Africa, on working together with Lebanon to forge broader regional peace, strengthening over century-long ties, and working in tandem with South Africa's sizeable Lebanese diaspora to boost commercial ties between the two.

Guest Speaker

Abdel Fattah el-Sisi, President, Egypt

Abdel Fattah el-Sisi, President of Egypt, on the historical brotherhood between Lebanon and Egypt, the importance of maintaining the Lebanese model of coexistence, and facing down the region's largest hurdles together.

Interview

Gebran Bassil, Minister, Foreign Affairs and Emigrants

TBY talks to Gebran Bassil, Minister of Foreign Affairs and Emigrants, on the critical importance of reintegrating the Lebanese diaspora, the country's oil and gas bid, and bringing some semblance of normalcy back to the region.

Review

Bigger and Brighter

With the stabilization of the political arena, Lebanon is poised to record strong growth in 2017, returning to form across most industries.

Column

Raya haffar El Hassan, President, Tripoli Special Economic Zone (TSEZ)

TBY talks to Raya haffar El Hassan, President, Tripoli Special Economic Zone (TSEZ), on the sector.

Column

Raphael G. Debbane, Chairman, Debbane Family Holding

TBY talks to Raphael G. Debbane, Chairman, Debbane Family Holding, on the sector.

Interview

Raed Khoury, Minister, Economy and Trade

TBY talks to Raed Khoury, Minister of Economy and Trade, on the reforms needed to keep Lebanon on the right growth track, the importance of protecting the Lebanese consumer, and improving Lebanon's balance of trade.

Interview

Dr. Fouad Zmokhol, President, Association of Lebanese Business People in the World (RDCL World)

TBY talks to Dr. Fouad Zmokhol, President of the Association of Lebanese Business People in the World (RDCL World), on the resilience of Lebanese entrepreneurship and the importance of small and medium-sized businesses for meeting the challenges of the future.

Focus: Taxes

On the Rise

The new national budget passed in March is a long time overdue; though, it comes with a much larger tax burden aimed to fund the new expenses that could hurt the economy more than it helps.

Interview

Salim Zeenni, Chairman, American Lebanese Chamber of Commerce (AmCham)

TBY talks to Salim Zeenni, Chairman of American Lebanese Chamber of Commerce (AmCham), on initiatives to bring Lebanese start-up culture to the world, how to advocate on behalf of SMEs, and sectors driving the Lebanese economy forward.

Interview

Nabil A. Itani, Chairman, Investment Development Authority of Lebanon (IDAL)

TBY talks to Nabil A. Itani, Chairman of the Investment Development Authority of Lebanon (IDAL), on increasing Lebanon's short-term investment flows, tapping into the diaspora, and bolstering the country's vibrant start-up community to bring long-term prosperity.

Focus: Public-Private Partnerships

Room to Grow

Reinvigorating public-private cooperation could help Lebanon provide necessary services such as electricity, transport, and infrastructure.

Interview

Dr. Khater Abi Habib, Chairman, Kafalat

TBY talks to Dr. Khater Abi Habib, Chairman of Kafalat, on creating the right conditions for start-ups to thrive, heavily investing in youth seed projects, and initiating projects with long-term sustainability.

Interview

Aziz Torbey, Founder , Eptalex

TBY talks to Aziz Torbey, Founder of Eptalex, Aziz Torbey Law Firm, on the long-term structural advantages of working in Lebanon, important moves the state is taking to improve the regulatory framework, and how the merger with Eptalex has revitalized the firm's global operations.

B2B

Family Business

Despite the trying circumstances in the Levant and Iraqi Kurdistan, the Malia Group is aggressively and prudently moving forward with groundbreaking projects.

Interview

Hubert Fattal, Chairman & General Manager, Fattal Holding SAL

TBY talks to Hubert Fattal, Chairman & General Manager of Fattal Holding SAL, on staying one step ahead of history, the importance of diversification, and remaining as nimble as possible in good times and bad.

Interview

Ziad T. Monla, Chairman & CEO , MG Holding

TBY talks to Ziad T. Monla, Chairman & CEO of MG Holding, on the inborn advantages of doing business Lebanese-style, providing top-notch services for the public sector, and how to turn a deadlock into a solution.

Forum

Why Lebanon?

Whatever the contingencies of the region and world, Lebanon's core value lies in its two most timeless, and indelible, attributes—its people and geography.

Review

The Next Generation

While Lebanon's renewable energy sector is still in its infancy, the developments of the last few years are encouraging.

Column

Zeina Baaklini, Managing Partner, Live Organic

TBY talks to Zeina Baaklini, Managing Partner, Live Organic, on the sector.

Interview

Tarek Mohamad El Khati, Minister, Environment

TBY talks to Tarek Mohamad El Khatib, Minister of Environment, on boosting renewables in Lebanon, working with municipalities to maximize waste management efficiency, and dealing with the environmental fallout of the crisis in Syria.

Focus: Waste Management Crisis

Clean It Up

Lebanon's never-ending waste management crisis almost led to the resignation of the government in 2015, and the country still struggles to deal with the multi-faceted issue.

Interview

Jamal Itani, Mayor, Beirut

TBY talks to Jamal Itani, Mayor of Beirut, Municipal Council of Beirut, on using the latest technology to solve the waste management fiasco, employing the latest environmental standards to reduce Beirut's carbon footprint, and making the city far greener and more pedestrian friendly.

Roundtable

A Powerful Role

TBY recently gathered some of Lebanon's top businessmen to discuss the potential for the private sector to support the country's goal to double the share of renewable energy to 12% by 2020 through new technologies, investments, and PPPs.

Interview

Albert Khoury, Chairman, Hawa Akkar

Despite the chronic waste, water, and electricity problems facing Lebanon's overburdened grid, the country still remains a repository of inventive problem solvers keen to employ their expertise on the country's problems.

Review: Banking

A Born Survivor

Lebanon's banking sector has long displayed the admirable properties of Teflon, having withstood both internal conflict and external headwinds.

Column

Bana Akkad Azhari, Managing Director, BNY Mellon

TBY talks to Bana Akkad Azhari, Managing Director, BNY Mellon, on the sector.

Interview

Dr. Riad T. Salameh, Governor, Banque du Liban (BDL)

TBY talks to Dr. Riad T. Salameh, Governor of Banque du Liban (BDL), on employing swap operations to reverse deleterious trends of the past five years, strengthening the central bank's foreign currency reserves, and bolstering the knowledge economy in the long term.

Interview

Alain A. Bifani, Director General , Ministry of Finance

TBY talks to Alain A. Bifani, Director General of the Ministry of Finance, on the progress toward passing the country's first budget in 12 years, rebuilding the country's financial accounts, and closing tax loopholes.

Focus: Banking Secrecy

Still A Secret

Lebanon is known for its confidentiality in banking, but recent laws have put its tradition of banking secrecy at odds with the rules of the game known as globalization.

Interview

Freddie C. Baz, Group Strategy Director, Bank Audi

TBY talks to Freddie C. Baz, Group Strategy Director of Bank Audi, on the importance of Turkey and Egypt to Audi's portfolio, venturing into Africa and Latin America, and leading by example in corporate governance and risk management.

Interview

Fadi Assali, Chairman, Cedrus Ban

TBY talks to Fadi Assali, Chairman of Cedrus Bank, on channeling the best technologies toward each of its banking sectors, remaining as transparent as possible, and bolstering SMEs.

Forum

Local Banking

Despite local difficulties and currency depreciations in crucial neighboring countries, Lebanon's banking sector continues to be one of the most robust in the region.

Interview

Anwar Jammal, Chairman & CEO, Jammal Trust Bank (JTB)

TBY talks to Anwar Jammal, Chairman & CEO of Jammal Trust Bank (JTB), on radically addressing market realities, penetrating household and small and micro-business markets, and bringing the previously unbanked on board.

Focus: Women in Finance

Not There Yet

A quick look at gender-disaggregated data of employment in the banking sector shows promise, but the sector, Lebanon, and the region are still working toward gender parity.

Interview

Antoun Sehnaoui, Chairman & CEO, SGBL

TBY talks to Antoun Sehnaoui, Chairman & CEO of SGBL, on supporting the bedrock of the Lebanese economy, SMEs, the group's ambitious expansion efforts across the region, and how to continuously deploy the most advanced information platforms.

Review: Capital Markets

Opening Up

With trading volumes up 60% despite volatile oil prices, the Beirut Stock Exchange (BSE) is coming to terms with its long-stated goal to be privatized. The plans are now in the government's hands and things seem to be moving.

Column

Dr. Fadi Khalaf, Secretary General, Arab Federation of Exchanges (AFE)

TBY talks to Dr. Fadi Khalaf, Secretary General, Arab Federation of Exchanges (AFE), on the sector.

Interview

Dr. Ghaleb Mahmassani, Vice-President , Beirut Stock Exchange (BSE)

TBY talks to Dr. Ghaleb Mahmassani, Vice-President of the Beirut Stock Exchange (BSE), on the pace of the privatization of the BSE, the sharp increase in trading movement in 2016, and how to change the business culture in Lebanon for the better.

Review: Insurance

Rain or Shine

The insurance industry in Lebanon has been enjoying impressive growth in recent years, and analysts expect the market's fundamentals to remain healthy throughout 2017.

Interview

Salim Yared, General Manager, Sloop Insurance Brokerage Firm

TBY talks to Salim Yared, General Manager, Sloop Insurance Brokerage Firm, on the sector.

Interview

Max. R. Zaccar, President, Association of Insurance Companies

TBY talks to Max. R. Zaccar, President of the Association of Insurance Companies, on the importance of insurance to the entire financial infrastructure, opportunities in Syria and Iran, and the need to educate the public on the importance of the industry.

Vox Populi

Insurance

Though the insurance sector has relatively high penetration rates, smart reforms currently under consideration by the government mean there is still further room for growth.

Review

Never let a post-crisis go to waste

Having seen off their domestic foes—for now—the energy initiatives being championed by President Aoun and Foreign Minister Bassil will need more than patience and cunning to see off the threat to eastern Mediterranean drilling rights from Israel.

Column

Robert C. Debbas, Chairman, Debbas Holding

TBY talks to Robert C. Debbas, Chairman, Debbas Holding, on the sector.

Interview

Cesar Abi Khalil, Minister, Energy & Water

TBY talks to Cesar Abi Khalil, Minister of Energy & Water, on boosting the percentage of renewables to 12%, implementing an ambitious set of energy-efficiency reforms for 2016-2020, and using public sector buildings as an important pilot for doing so.

Interview

Wissam Chbat, Chairman, Lebanese Petroleum Administration (LPA)

TBY talks to Wissam Chbat, Chairman of the Board of the Lebanese Petroleum Administration (LPA), on getting offshore projects off the ground by the end of the year and boosting local employment in the industry.

Focus: Fuel exploration

Exploring a bright future

Exploration of offshore hydrocarbon fields looks promising, but internal and external political challenges may pose a threat.

B2B

Oil and Gas

Though challenges still persist in the domestic market, saturation among others, Lebanese firms are more than making up for this through aggressive action in the region.

B2B

Energy Efficiency

As with many things, Lebanon's biggest players, when it comes to energy efficiency, hone the skills they learn at home to conquer markets abroad, and vice versa.

Review

Making It Happen

As Lebanon begins to more fully recover from macroeconomic headwinds, stakeholders and industry observers are hopeful that the country's industrial sector will offer a way forward.

Interview

Dr. Hussein Elhajj Hassan, Minister, Industry

TBY talks to Dr. Hussein Elhajj Hassan, Minister of Industry, on how the government can intelligently help the industrial sector, boosting exports to the EU, and increasing the share of industry as a percentage of GDP.

B2B

Coffee with Milk

Coffee connoisseur Café Najjar and milk maven Liban Lait are investing in the latest technologies to supply Lebanon with the finest quality food and beverage products, limiting the country's dependence on imports and even trying to grow exports.

Focus: Labor Market

Technicians Wanted!

With high rates of overall unemployment and sector-specific shortages, Lebanon needs to align job training with labor market demand, including the demand for technical professionals.

B2B

In Good Spirits

Leaders in the food and beverage sector are optimistic after a successful 2016 and are looking forward to new opportunities in and outside of Lebanon.

Review: Health

Overcoming Challenges

Despite the herculean challenges currently being faced by Lebanese health systems, stakeholders from across the country, region, and globe are working to ensure that the entire country receives basic healthcare.

Interview

Ghassan Hasbani, Deputy Prime Minister & Minister , Public Health

TBY talks to Ghassan Hasbani, Deputy Prime Minister & Minister of Public Health, on increasing insurance coverage, infrastructure, and drug manufacturing.

Interview

Dr. Hassan El Solh, Medical Center Director & Chief Medical Officer, American University of Beirut Medical Center (AUBMC)

TBY talks to Dr. Hassan El Solh, Medical Center Director & Chief Medical Officer of American University of Beirut Medical Center (AUBMC), on the center's expanding infrastructure and patient services, upgrades in technology, and development of specialties and centers of excellence.

B2B

Healthcare Facilities

Healthcare facilities in Lebanon are expanding thanks to superior quality and patient-oriented care and services.

Review: Education

Making Education Great

While Lebanon's education system remains one of the best in the region, low funding levels and uneven geographic distribution has not facilitated learning outcomes as evenly as the government would like.

Interview

Marwan Hamadeh, Minister , Education

TBY talks to Marwan Hamadeh, Minister of Education, on the educational challenges posed by the Syrian refugee crisis as well as the possibility for system-wide reform to benefit all children in Lebanon, regardless of country of origin.

B2B

University Accessibility

Lebanon's universities are making higher education more accessible to all Lebanese students through private-sector funding and to students worldwide through internationalization initiatives.

Focus: incubators

Educating Entrepreneurs

Pending improvement in technology infrastructure, entrepreneurship incubators are poised to turn Lebanon into a startup hub and grow the economy.

Interview

Irina Bokova, General Director, UNESCO

TBY talks to Irina Bokova, General Director of UNESCO, on the organization's influential efforts to support the Ministry of Education and Higher Education, long-term educational reform, and students across Lebanon.

Review

Building Bridges

Lebanon is borrowing and spending big in an attempt to revive its transport infrastructure, with a potential role as the main hub for the future reconstruction of Syria.

Column

Frédéric Babu, Regional Manager, Air France

TBY talks to Frédéric Babu, Regional Manager, Air France, on the sector.

Interview

Mourad Aoun, CEO, The Net Holding

TBY talks to Mourad Aoun, CEO, The Net Holding, on the sector.

Interview

Mohamad Chehabeddine, Director General , Civil Aviation of Beirut-Rafic Hariri International Airport

TBY talks to Mohamad Chehabeddine, Director General of Civil Aviation of Beirut-Rafic Hariri International Airport, on the airport's terminal expansion and security enhancements to attract more travelers to the Paris of the East.

Interview

John Chedid, Country Manager, DHL

TBY talks to John Chedid, Country Manager of DHL, on optimizing operations, environmental initiatives, and joint projects with the government.

Focus: Road Network Expansion

New Roads, New Ways

With support from the World Bank, Lebanon is paving new roads and new ways to further stimulate jobs and economic growth, diffusing new opportunities as the new roads elevate connectivity nation wide.

B2B

Sales Drivers

In a tough economic climate, the automotive industry is relying on customer service to drive sales and differentiate the market leaders from the pack.

Review

True Cornerstone

The real estate sector continues to grow despite the evident challenges, with infrastructure initiatives driving growth in the construction industry.

Column

Joseph G. Sassine, President Director General, Banque de L’Habitat

TBY talks to Joseph G. Sassine, President Director General, Banque de L'Habitat, on the sector.

Interview

Michel Pharaon, Minister, State for Planning Affairs

TBY talks to Michel Pharaon, Minister of State for Planning Affairs, on the structure of the ministry, public-private partnerships, and both the opportunities for growth and challenges in Lebanon's current political climate.

Interview

Maher Beydoun, Vice Chairman, Solidere

TBY talks to Maher Beydoun, Vice Chairman of Solidere, on the international developer's major projects in Lebanon and the region, and the ripple effects of Solidere throughout several sectors of Lebanon's economy beyond construction.

Interview

Alex S. Demirdjian, CEO, Demco Group

TBY talks to Alex S. Demirdjian, CEO of Demco Group, on staying at the top, developing a real estate division, and goals for the future.

B2B

Engineering

With a construction sector slow to rebound and overcome political turmoil, Lebanese engineering leaders have their eyes on international projects, most notably preparing for the opportunity to re-enter and rebuild Syria.

B2B

Developers

Despite the economic hardships, political unpredictability, and overall uncertainty, Lebanon's developers continue to invest in Lebanon and its resiliency.

Focus: REBUILDING SYRIA

Made by Lebanon

Though conflict continues, many Syrians are beginning to return home, and they may find Lebanese firms there helping to rebuild.

Review

Starting to Roll

Lebanon's tourism industry was shaken by regional strife. Now, the sector is making a slow rebound, and it is expected to reclaim its enviable numbers and reputation as a premier tourist destination within the next 10 years.

Column

Roula Korban Khadra, Managing Partner, Three O Nine Urban House

TBY talks to Roula Korban Khadra, Managing Partner, Three O Nine Urban House, on the sector.

Interview

Georges Ojeil, General Manager, Le Gray Hotel

TBY talks to Georges Ojeil, General Manager of Le Gray Hotel, on the company's standout concept, challenges for Lebanon's recovering tourism industry, and sustained efforts to make Le Gray Beirut's most unique accommodation.

B2B

Travel Agencies

Long-time leaders in the travel business are continuously adapting to oscillating travel trends, and evolution has produced strong players in Lebanon's tourism industry who can withstand recent challenges—and even thrive.

Focus: Gulf Tourism

Welcome Back!

Bottoming out in 2015, tourism from the Gulf states to Lebanon is rebounding thanks to slowly improving relations with its neighbors.

Interview

Romen Mathieu, Chairman & CEO, Khoury Home

TBY talks to Romen Mathieu, Chairman & CEO of Khoury Home, on growing sales, the new executive team, and Lebanon's retail forecast.

Review: Mount Lebanon Governorate

Hidden Emerald Treasures

Though named for Mount Lebanon, the region's mountainous landscape also boasts for striking lakes and waterfalls.

Forum

Food Groups

Lebanon's entrepreneurial resilience is giving rise to a wide selection of culinary experiences that can transport Lebanese people all across the globe.

Review: DOING BUSINESS

COME ONE, COME ALL

Lebanon's economy has long been distinctly international, with high rates of remittances from the Lebanese diaspora and foreign investment via tourism and real estate all accounting for a major part of the Lebanese economy.

Review: LEGAL

TOWARDS A CLEARER FRAMEWORK OF PUBLIC- PRIVATE PARTNERSHIPS

A detailed look at the new PPP law and the impact it will have on the growth and development of the country.

Review: ACCOUNTANCY

Solid Fundamentals

Investors will find simplified regulations and procedures for setting up a business in Lebanon.