Louis Vuitton to open first boutique in Lebanon

Common values have led the House of Louis Vuitton and the country of Lebanon to forge stronger ties. Even though the turmoil of history hindered the famous House from settling in the country earlier, the brand and its Lebanese customers have always been linked by a genuine affection.

In a few months’ time, the celebrated purveyor of fine leather goods will open its first store in Beirut, a vibrant city whose economic, artistic and cultural activities have established the city as one of the most important in the world. Louis Vuitton will thus reaffirm its commitment to its customer base not only in Lebanon, but throughout the region, by opening its doors in the most luxurious shopping district in the country.

To celebrate the opening of its first Beirut store, Louis Vuitton is placing a giant trunk, decorated with the famous monogrammed canvas, in front of the historic building located at 103 Allenby Street. The structure, whose façade dates back to the 1950s, was preserved and restored under the aegis of the city’s redevelopment programme undertaken by SOLIDERE, the Lebanese Society for Development and Reconstruction. (iloubnan.info)

Clashes between Future, Amal supporters in Beirut

A fight erupted between Future Movement and AMAL supporters in Beirut’s Burj Abu Haidar neighborhood in west Beirut. The army intervened and is trying to contain the situation.

Hariri: Beirut will remain united

Lebanese PM Saad Hariri said during a dinner at Biehl with the Federation of Associations of Families of Beirut: “Beirut will remain single ( electoral district ) and unified after the failure to divide it into East and West . Israel is betting on the division of the Lebanese but there is no surer bet than the state , the people and the institutions.”
MP Michel Aoun has been calling for dividing Beirut into 3 electoral districts during the municipal elections, but the majority alliance has been against such a move

3 Lebanon banks report higher profits in 2009

Byblos Bank, Lebanon’s third largest lender, Thursday said its 2009 full-year net profit rose 20% to $146.1 million from $122 million a year earlier.
Total assets grew 21% to $13.6 billion at the end of 2009 from $11.2 billion at the end of 2008, the bank said in an emailed statement.
Customer deposits climbed 23% to $10.3 billion from $8.4 billion a year earlier while loans increased 14.5% to $3.2 billion from $2.8 billion.
“Gross non-performing loans represented 2.6% of gross loans and were fully covered by provisions,” Byblos Bank said in the statement.

Similarly Bank Audi, Lebanon’s largest bank in terms of deposits, said on Thursday its 2009 net profit rose 21.4 percent to $289 million.
The bank said in a statement total assets increased by 29.9 percent to $26.5 billion at the end of 2009 from a year ago.
Customer deposits increased by 32.6 percent to $23 billion while earnings per share rose 23.5 percent to $8.
Bank of Beirut, one of the five top banks in Lebanon, said on Thursday its 2009 net profit rose 15 % to $76.3 million . The bank said the rise in profit was mainly due to considerable growth in the bank’s activity in Lebanon and abroad. It added that the bank had seen a remarkable surge in housing loans and loans to the private sector in Lebanon last year.
The growth in profits was also due to the rise in net operational earnings by 12.10 percent while the operational costs rose only by 11.76 percent.
Bank of Beirut’s private equity rose by 53 percent to $800 million in 2009.

Four Seasons opens new hotel in Lebanon

Kingdom Hotel Investments (KHI) has opened its five-star Four Seasons Beirut hotel, as the Lebanese city’s hospitality sector continues to grow.

The front of the hotel has been brightly lit and the interiors of the hotels were inspired by Lebanese culture. The hotel features Lebanese artwork, carved screens and gilded calligraphy. A few minutes’ walk away from the hotel is downtown Beirut, with art galleries, boutiques, antique shops, cafés and restaurants.

The 230 room hotel, in which KHI has a controlling 38 per cent stake, opened its doors on Sunday and was expected to cost US$146 million (Dh536.25m). The Saudi billionaire Prince Alwaleed bin Talal bin Abdulaziz al Saud founded KHI and is its majority shareholder. Hotel Designs

MTV : A car bomb explosion south of Beirut- Update 3

MTV security sources : A car bomb explosion took place in the Dhahiya, a suburb south of Beirut . This area is a stronghold of Hezbollah .
New TV also reported about the explosion calling it “mysterious ” and said one person was injured

Update 1 :
There were are conflicting about how many people were injured
. The most recent report stated that at least 2 people were injured and another unconfirmed report stated that one may have been killed
. Initial investigation reports say the explosion was targeting a Hamas leader. Al Arabiyah reported that the car that exploded was parked in front of Abu Imad al Rifaai , a Hamas leader ”
.Lebanon Files reported that the explosion was caused by 3 interconnected bombs and placed underneath the car
.Lebanese officials says Hezbollah has sealed off the area of the explosion in the southern suburb of Haret Hreik , Dhahiya on Saturday, making it difficult to determine the cause of the explosion.
Update 2
Hamas has reportedly stated that Ali Baraka , who is one of the injured may have been the target of the explosion
Update 3

Al Arabiyah :Hezbollah elements were trying to dismantle the explosive devices in Haret Hreik when they exploded, killing two of them.
Hamas denied that that the explosion targeted Al baraka

Over 30,000 took part in the Beirut Marathon

Both President Michel Suleiman and Prime minister Saad Hariri displayed a spirit of of sportsmanship and participated in the Beirut Marathon today

Hariri took part in the Beirut Marathon race

Prime Minister Saad Hariri took part Sunday in the 10-kilometer race at Beirut Marathon, saying sport is “important for building a healthy and sound society.”
“We have to bring Lebanese together, and sport is a very important event that can bring them together,” Hariri said as he arrived in downtown Beirut to participate in the race.

Source: Dalati & Nohra