With construction practically completed, Audi Bank is expected to
move by mid-year to its new headquarters in Beirut city center.
On March 28, Gulf Finance and Investment inaugurated its offices in
building 229 Foch street.
Banca di Roma is preparing to move its headquarters to Maarad street
Decorating works precede the moving of MEPA Insurance Companies into
the UFA Assurance building in Martyrs' Square. The group is
relocating from Paris to Beirut in July.
Among distributors establishing regional offices in Beirut city
center, UDV will conduct its Levant, North Africa and Cyprus
operations from Hiba al-Maarad building in Maarad street.
The art gallery Compagnie des Arts was opened in the city center
this quarter in Yousef El Rami street off Foch street.
In Maarad street, Le Ragueneau restaurant, on street level in
building 286, has a terrace overlooking the planned Hadîqat As-Samah.
On the first and second floors of the building, decoration works
prepare for the opening of Café Met, a New York-style café with a
By end August, La Maison du Café will be installed in Beyhum street
off Foch street.
Woolnough;s men's shoes, just opened in Maarad street, and Mario
Bruni women's shoes, soon opening in Yousef El Rami street, are
joining such outlets as Pointure in the Lazarieh complex, Vienna
Shoes in the Atrium building and Rock Shoes in Weygand street.
Rectangle Jaune fashion shop is opening this summer in building 157
Saad Zaghloul street.
year started downbeat, with SOLIDERE shares reaching new lows near
the quarter end: US$53/8 for share A and US$51/2
for share B. This reflected disappointment at the delay in issuing
the awaited decrees necessary for SOLIDERE reconstruction projects,
added to the general malaise regarding the economy.
Improved prospects regarding the decrees and the economy limited the
losses at quarter-end. Share A closed at its low of US$53/8,
19% lower than the previous quarter closing. Share B closed above
its low, at US$6, 18.6% below the previous quarter closing price.
Trading activity was at its highest in more than two years, as
1,449,330 shares exchanged hands during the quarter.