Dear colleagues,

The year 2008 looks packed with surprises that will inevitably affect our profession one way or the other. The roadblocks ahead cannot be overcome without extreme vigilance.

On the international scene, a change of wind is perceived with persistent talks of recession, even stagflation in the United States. Europe is torn between overheating and underperforming member states. Furthermore, the unveiling of big losses incurred by a rogue trader in Paris has put us all under the spotlights.

Let us not discount the fact that our local market cannot remain immune in the face of all these global vagaries. We have, in the past, shown our professionalism even in the darkest days. Let us persist in our endeavor to make Beirut a calm and prosperous market.

Heroes have no place amongst us. Our profession needs mature and calm headed traders.

Your colleague
Nakhlé Khoneisser
President, ACI Lebanon