International city of vine and wine: A boost for tourism in Zahle
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L'Orient-Le Jour
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Finance Ministry wants to reassess Lebanese banks' real estate, land assets
On Tuesday, the Finance Ministry issued a decision outlining the provisions related to the revaluation of real estate assets seized by banks due to their clients' failure to repay debts, as well as the revaluation of their other real estate and land assets. In this decision, the Ministry specifies the exchange rate that banks must use for these revaluations, given that the lira exchange rate to the dollar has significantly fluctuated since the onset of the Lebanese economic crisis in 2019, until achieving stability in the summer of 2023.'This mechanism, whose aim is purely fiscal and accounting in nature, is intended to adjust the accounts of Lebanese banks. It follows and complements Law No. 330 of 2024,' said Nadim Daher, a certified public accountant and member of the Lebanese Association for the Taxpayers' Rights. More on banks'...
L'Orient-Le Jour
7 hours ago
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Cash declaration at the border, Internet, appointments: Other decisions made at the latest Cabinet meeting
The disarmament of Hezbollah was not the only explosive issue on the agenda at Tuesday's Cabinet meeting in Baabda, on which the government took a step forward. The government also approved two draft laws amending existing legislation, seen as critical for trying to convince the Financial Action Task Force (FATF) — the leading global anti-money laundering and counter-terrorism financing body — to remove Lebanon from its gray list. The first project, which is considered urgent, seeks to increase the penalties for those who do not declare the sums of money in their possession when crossing Lebanese borders. This is an amendment to Law No. 42/2015 concerning the cross-border transport of cash. The law requires anyone physically transporting money, when entering or leaving the country, to declare it to customs if the amount exceeds $15,000, subject to fines, among other penalties. The second project strengthens the provisions of Law No. 44/2015 "in order to ensure better compliance with international standards," according to the decision's statement. Both projects now must go before Parliament. According to a government source, they were prepared under the direction of Finance Minister Yassine Jaber, Economy Minister Amer Bsat and Central Bank (BDL) Governor Karim Souhaid. The adoption of the two laws in 2015 allowed Lebanon to be removed in 2016 from the FATF's gray list, where it had been placed six years earlier. However, during the most recent evaluations conducted from 2022 to 2024, the country was put back on the list. Internet discussion postponed until next week The government was also supposed to review the report of Telecommunications Minister Charles Hage on ongoing negotiations between Lebanon and three satellite internet service providers: Starlink, Eutelsat and Arabsat. The issue was ultimately postponed until next week. The minister said that Starlink, the network operated by SpaceX and owned by billionaire Elon Musk, meets all the conditions set by Lebanon, including those of the security forces and the justice ministry's consulting and legislation committee, to obtain a license from Lebanese authorities. The parliamentary telecoms committee is scheduled to examine the Starlink case and that of illegal internet providers on Wednesday. The ministry was also to report on the status of negotiations with the two other companies, Eutelsat and Arabsat. Both operate smaller satellite fleets than Starlink but have more concentrated networks — Eutelsat in Europe and Arabsat in Arab countries. The telecom ministry plans to consult security forces and the consulting committee when the discussions reach the stage of formal negotiations. Environment, culture, and firefighters As for administrative appointments scheduled on the agenda, the executive approved the renewal of Rony Lahoud's term as head of the Public Housing Agency — a body distinct from Banque de l'Habitat, tasked with facilitating home ownership for low-income families. Its capacity to accept new applications has been halted since Lebanon's crisis. Lahoud has held the position since 2014. The government also approved the makeup of the board of directors. Hani Shaarani serves as chair, with Hani Shamaa, Gaby Khouryati, Bassim Bkhash, Joumana Tadmori and Leila Shahoud as members. The government also approved a draft decree presented by the Environment Ministry to ratify the Arab Environment Facility, a regional body established by members of the Arab League to finance and support environmental projects. Lebanon is among the countries that have already signed onto this mechanism, ratified at the ministerial level by the Arab League in September 2008, but the ratification process in Lebanon has been underway since 2011. Few Arab League countries have ratified this treaty to date. The government also approved a memorandum of understanding between Lebanon's National Library and the National Library of Spain, submitted by Culture Minister Ghassan Salameh. Few details were provided, but such agreements typically involve collection exchanges or digitization projects in practice. The government also approved an agreement between the Civil Service Council, the International Organization of La Francophonie, and the French Institute of Lebanon to improve the French-language skills of some Lebanese civil servants. Finally, the Cabinet approved a competitive exam to be launched by the Ministry of Public Works and Transport for the recruitment of 25 officers for the fire brigade of the Directorate General of Civil Aviation, to fill vacant positions with the fire brigade operating at Beirut-Rafic Hariri International Airport.
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Shark Tank Lebanon Just Revealed Who The Sharks Are
It's happening! Shark Tank is officially coming to Lebanon, and the investor panel is stacked with some of the country's most powerful and experienced business minds. From retail and energy to F&B and tech, these sharks bring serious knowledge, regional impact, and an appetite for bold ideas. With filming rumored to begin in just a few weeks, here's your first look at the all-star lineup: Maroun Chammas Chairman & CEO of Medco | CEO of Berytech At the helm of one of Lebanon's largest energy companies, Maroun also heads Berytech — a leading hub for innovation and entrepreneurship in the country. With deep roots in tech, startups, and investment, he's a powerhouse in both traditional and future-focused sectors. George Karam Investor | Former Dragon on Dragon's Den (Quebec) Lebanese-Canadian entrepreneur and investor, George made a name for himself as a guest Dragon on Quebec's Dans l'œil du dragon (the French-Canadian Dragon's Den). Now, he's diving into Lebanon's tank — ready to back bold ideas and strong founders. Christine Assouad CEO of Dunkin Middle East | Co-founder of Semsom A force in the F&B world, Christine leads Dunkin across the Middle East and is the co-founder of the Lebanese restaurant brand Semsom. With a mix of corporate experience and entrepreneurial hustle, she brings serious food and franchise expertise to the tank. Hassan Ezzeddine Executive Chairman, Gray Mackenzie Retail Lebanon With a deep understanding of Lebanon's retail landscape, Hassan oversees one of the country's biggest retail and distribution companies. He knows how to scale operations, build distribution, and lead teams — even in tough markets. GMRL owns brands like Spinneys, Happy, and recently acquired NokNok. Alain Bejjani Former CEO of Majid Al Futtaim Until recently, Alain was the CEO of Majid Al Futtaim Group, the regional giant behind Mall of the Emirates, Carrefour Middle East, and more. Known for transforming MAF into a future-ready conglomerate, Alain brings regional leadership and long-term strategy to the table. Shark Tank Lebanon is set to shake up the business scene, giving local entrepreneurs a shot at real investment and mentorship from Lebanon's top business minds.
