Company bulletin

Company Bulletin

The European Investment Bank and Saradar Bank signed an agreement for a 30 million euro line of credit to support investments of Lebanese small and medium enterprises in Lebanon. This operation is part of the Economic Resilience Initiative that aims to mobilize funding for SMEs and promote private sector development in the region.

Commenting on the June PMI results, Rouba Chbeir, senior economist at BLOMINVEST Bank, said that reports by Fitch Ratings among others this month downgraded Lebanon to “CCC” from “B-,” and that this also reflects the new rating of Lebanese banks. As a result, economic growth faltered and is expected to have registered 0 to 0.5 percent in the first nine months of the year.

Campbell Gray Hotels has made two key appointments as it focuses on continued development and expansion, especially in Europe and the Middle East. Georges Ojeil has been promoted to the role of area manager, Beirut and Amman. As area manager, he will have to oversee Le Gray Beirut, as well as Amman’s Campbell Gray Living, and the forthcoming Campbell

Gray Hotels. Campbell Gray Hotels has also appointed a new operations director, Simon Venison.

In line with its continuous efforts to strengthen relationships with its clients, Bankmed has announced its partnership with

MEDCO. This partnership enables the bank’s cardholders to get a 1 percent “Drive Time” as a cashback reward every time they use their credit cards at MEDCO and Phoenicia service stations, as well as when shopping at Yala Stop Super Dekkene.

BBAC recently announced that The Multilateral Investment Guarantee Agency, a member of the World Bank Group, has issued $67 million in guarantees to the bank to facilitate financing for SMEs by increasing its loan portfolio across BBAC branches in Iraq.

CHANCE Association, which from 2002 has been covering the treatment of children with cancer and blood disorders and supporting their fight against cancer with 80 percent cure rates, organized its annual fundraising event at the Kempinski Summerland Hotel and Resort on September 24.

Bentley has announced new model year details for its Continental GT, the GT V8, and the introduction of new features.

Cannes Lions launched the 2020 Festival by announcing the Content Agenda themes, alongside the launch of the Creative Business Transformation Lions. New elements of the Cannes Lions International Festival of Creativity, taking place from June 22 to 26, 2020, were devised through industry-wide consultation and in-depth research with the global branded communications community.

On October 23, Huawei Consumer Business Group announced that it has shipped 200 million smartphones to date in 2019, 64 days earlier than the same shipment milestone last year.

Nissan plans to open an interactive venue near its global headquarters where people can experience the company’s products, technology, and vision for the future of mobility, set to open early next summer in Yokohama, Japan.

The Lebanese Association for Taxpayers’ Rights renewed its call for a national economic and financial forum that redefines economic policies and priorities to be incorporated into a framework law gradually applied over the medium term.

OpenMinds in partnership with academic and cultural center QUEST education, called for a workshop entitled “Hire Me,” which examined the main aspects of the integration of people with special needs in Lebanon into the labor market. The workshop was launched at Citea Apart Hotel Ashrafieh and was completed at the American University of Beirut and Université Saint-Joseph over two consecutive days.

ABC Group announced that it will donate LL100,000,000

($66,357) to Jouzour Loubnan, a Lebanese NGO whose mission is to participate in the restoration of Lebanese woodland and promote sustainable forestation to help restore Lebanese forests. ABC’s announcement came after the forest fires that raged in Lebanon earlier this month.

Huawei announced its business results for Q3 of 2019. During the first three quarters of this year, Huawei generated CNY610.8 billion in revenue, an increase of 24.4 percent year-on-year.

Etihad Aviation Group, owner of the national airline of the United Arab Emirates, and Air Arabia announced the signing of an agreement to launch Air Arabia Abu Dhabi, the capital’s first low- cost carrier.

Porsche presented the third version of its sports saloon with the introduction of the Taycan 4S. The new model is available with two battery sizes including the performance battery, which produces up to 390 kW, and the Performance battery Plus, which delivers up to 420 kW.

Careem organized a beach clean-up in old Praia beach in Zouk in collaboration with Live Love Beirut on October 14. This community-building activity falls in line with Careem’s new campaign “Start Something”—aiming to encourage people across the region to take the first step and pave the way forward.

Twenty L’Oreal Prossionnel’s hairdressers joined “scissors” on October 6, at ABC Verdun, to offer complimentary haircuts and styling to more than 500 donors from all ages—women, children, and even men—who had come from across Lebanon to make the cut and donate their hair for women fighting cancer.

Throughout the past few months, La Roche-Posay Laboratoire Dermatologique deployed a multi-faceted skin cancer awareness campaign in Lebanon. The brand partnered with Lebanese dermatologists in key hospitals and universities all over the country to scan questionable moles for patients.

In celebration of its 10-year anniversary, Raouche Arjaan by Rotana hosted corporate members, loyal guests, media representatives, and influencers on the hotel’s 17th floor, overlooking the Mediterranean Sea.

LAU Medical Center-Rizk Hospital organized a health and safety awareness day in the hospital’s garden on October 10. School students between grades six and nine, as well as media representatives and the hospital’s visitors were invited to come and learn how to maintain an acceptable level of hygiene and benefit from tips on staying safe and healthy.

The Changemaker Festival was held this year in Downtown Beirut at District S, on October 5 and 6. With more than 1,000 millennials from Lebanon and abroad, influencers, CEOs, executives, and youth leaders gathered in one place to explore how entrepreneurship can change the world.

The Naef K. Basile Cancer Institute at AUBMC in collaboration with Brigham Women Hospital and Heidelberg University and in joint providership with Cleveland Clinics, organized the Middle East Neuro-oncology Conference for the second year in a row on September 13 and 14.

On October 9, OGERO signed a memorandum of understanding with Dell Technologies that will enable them to further enhance their technological capabilities with the aim of enhancing customer experience and driving down costs within the telecommunications industry. On September 28, Le Bristol Hotel hosted an exclusive lunch and dinner within “Le Weekend Azuréen à Beyrouth,” an initiative aimed at celebrating the centuries-old French-Lebanese friendship.

In line with the Bank’s expansion strategy, Credit Libanais announced the opening of its 72nd branch in Ghazir, to further strengthen its presence in all the Lebanese regions, and to better cater to the needs of customers.

TBWA\RAAD celebrated the inauguration of its new offices located on Georges Haddad Avenue in Saifi, at the heart of Beirut’s Central District.