Business

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February 09, 2018

“Businesses and customers embrace VAT effectively” says Tally Solutions

The new year was heralded as the onset of the VAT regime in the GCC. It is now a little over a month since VAT has come into effect and while there are businesses who are yet to register, the overall economy is well into the VAT return filing rhythm. According to FTA, 260,000 businesses have successfully registered so far....

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7 months ago
The value of the secondhand car market on OLX Lebanon  exceeded $2 billion in 2017
February 07, 2018

The value of the secondhand car market on OLX Lebanon exceeded $2 billion in 2017

OLX Lebanon, the leading secondhand marketplace in Lebanon, has recently released a comprehensive report highlighting Lebanese secondhand car market trends and consumer behavior during 2017. According to the report, the value of second hand cars listed for sale in 2017 reached $2 billion. The report also indicated that cars...

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8 months ago
LGB BANK, in collaboration with MasterCard Worldwide, announces special offer with Careem
February 07, 2018

LGB BANK, in collaboration with MasterCard Worldwide, announces special offer with Careem

LGB BANK, in collaboration with MasterCard Worldwide, has announced a special offer with Careem, the app-based car booking service. The offer enables MasterCard cardholders to enjoy free city rides and benefit from monthly discounts. As such, the Bank’s customers will get their first free ride with Careem by using their...

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8 months ago
LG ANNOUNCES 2017 FINANCIAL RESULTS
February 05, 2018

LG ANNOUNCES 2017 FINANCIAL RESULTS

LG Electronics Inc. (LG) today announced record full-year revenues for 2017 of KRW 61.4 trillion (USD 55.4 billion), an increase of 10.9 percent from the previous year, the highest in the company’s history. Full-year 2017 profits of KRW 2.47 trillion (USD 2.23 billion) – the highest profit since 2009 – increased 85...

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8 months ago
GROHE Continues to Count on its Innovative Strength in 2018
February 04, 2018

GROHE Continues to Count on its Innovative Strength in 2018

GROHE, the world’s leading provider of sanitary fittings, continues to fully count on its innovative strength in 2018. In the upcoming months, among other things, the plans are to expand the production of fittings to the 3D printing process and to implement first test prints in a pilot project. In March, GROHE will launch its...

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8 months ago
E-City announces ambitious AED 67 million expansion bid for GCC region in 2018
February 04, 2018

E-City announces ambitious AED 67 million expansion bid for GCC region in 2018

E-City, the electronics retail arm of Albatha Group, one of the UAE’s largest conglomerates, has revealed a strategic AED 67 million expansion initiative that is aimed towards reinforcing the company’s market presence in the UAE and the GCC region. The move demonstrates the company’s continuing efforts to further...

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8 months ago
LGB BANK signs the first syndicated funding agreement in Lebanon in collaboration with international Development Finance Institutions
February 01, 2018

LGB BANK signs the first syndicated funding agreement in Lebanon in collaboration with international Development Finance Institutions

LGB BANK signed a USD 67.5 million funding agreement in collaboration with FMO, OFID and OeEB to support Small and Medium Enterprises, during a ceremony held in the Austrian Capital of Vienna. In addition to the USD 32.5 million provided by The Dutch Development Bank (FMO), OPEC Fund for International Development (OFID)...

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8 months ago
Majid Al Futtaim records resilient performance with continued investments in strategic initiatives
February 01, 2018

Majid Al Futtaim records resilient performance with continued investments in strategic initiatives

Key Highlights:   Improved overall group revenue by 8% year-on-year to AED 32.2 billion Increased EBITDA by 1% year-on-year to AED 4.2 billion At constant FX rates, group revenue would have grown by 14% and EBITDA by 5% Opened Mall of Egypt, the country’s first super-regional shopping mall Accelerated Carrefour’s...

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8 months ago
Bank Audi Consolidated Activity Highlights as at End-December 2017
January 30, 2018

Bank Audi Consolidated Activity Highlights as at End-December 2017

Lebanon’s economic activity improved modestly in 2017, as suggested by the evolution of real sector indicators. In parallel, the contraction in banking aggregates in November post PM Hariri’s resignation weighed on the figures in the first 11 months of the year, yet without their growth slipping into cumulative negative...

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8 months ago
McDonald’s Brings the “Experience of the Future” to Lebanon
January 29, 2018

McDonald’s Brings the “Experience of the Future” to Lebanon

McDonald’s Lebanon held a grand reopening ceremony for its state of the art and completely renovated branch in Dora. Present was Karim Miknas, the company’s Managing Partner, McDonald’s Restaurant Support Center managers, employees, suppliers and partners as well as media representatives and social media...

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8 months ago
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