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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

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            Deal signed to set-up first factory in Qatar to assemble electric vehicles

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            Local, Italian companies partner up to establish food retail chain in Egypt

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            Iraq set to award new Faw Port deals

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            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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            Miral’s premier Abu Dhabi waterfront project work on track

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

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              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

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                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

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                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              ICT is the fastest growing sector of the Lebanese economy by 10%

              businessnews.com.lb

              December 3, 2016
              in IT & Telecom
              0

              The information and communication technology (ICT) market is expected to grow at a compound annual growth rate (CAGR) of 9.7 percent to $543 million by 2019, according to ‘Investment Opportunities in the ICT Sector-2016’, a report published by the Investment Development Authority of Lebanon (IDAL). The ICT market grew by a CAGR of seven percent to $436.2 million in 2016, compared with 2014, placing it as the fastest growing segment of the economy.

              The Central Bank (BDL) will continue to support the digital knowledge sector which has contributed nearly $1 billion to national wealth and created nearly 6,000 job opportunities, said Riad Salameh, Governor of BDL. An achievement just three years after BDL issued Circular 331 that aims to support this sector, Salameh said.

              The ICT services sub-sector is expected to grow at a CAGR of 12 percent during the period 2016-2019, according to IDAL’s report. The software development market is projected to increase at a CAGR of 10 percent during the same period.

              Entrepreneurs are attracted to new promising sub-sectors with global market reach such as big data, Internet of things (IoT), three-dimensional video-stitching software, and virtual-reality software, in addition to software for self-driven cars, according to Sami Beydoun, Managing Partner at Berytech Fund. Clean energy and alternative energy as well as hardware ventures such as drones are also in big demand, he said. The wearables and cloud computing sub-sectors have already taken off and they are still growing.

              Around 800 companies –most of which are small and medium enterprises (SMEs) – operate in the ICT sector. The majority of these are distributors and sellers, according to IDAL. Nearly 211 of these companies are in the software industry that includes software development, web solutions, and mobile services and applications and employs a workforce of around 5,000 people.

              Beydoun said that the growth in the digital knowledge sector is mainly driven by the substantial development realized in the ecosystem which now boasts a large number of organizations that support entrepreneurs. In the past, startups only had Berytech to rely on to help them grow, but now there are many incubators, accelerators, venture capital firms (VCs), and mentors to choose from, he said.

              Circular 331 allows banks to invest up to four percent of their capital in the equity of companies operating in the knowledge sector. This investment is mostly done indirectly through investment funds which must exit within seven years. The banks have up to now committed to an investment of around $320 million.

              The capital invested so far in knowledge startups is estimated at nearly $100 million. BDL’s initiative increased the number of accelerators and equity funds and attracted international attention.
              businessnews.com.lb
              3 December

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