Business

Al-Habari accepts Al-Sarraj’s meeting proposal

  • 23 November 2017 - 00:41
Al-Habari accepts Al-Sarraj’s meeting proposal

The Governor of the Central Bank in Al-Bayda, Ali Al-Habari, agreed to attend the meeting of the Board of Directors of the Central Bank of Libya in Tripoli, which was called upon by the head of the Presidential Council Faiz Al-Sarraj. On Wednesday, Al-Sarraj, called on the governors of the...

Chairman of Libya’s state oil firm Sanallah wins Chief Executive of the Year award at the Petroleum Economist Annual Awards

  • 22 November 2017 - 16:14
Chairman of Libya’s state oil firm Sanallah wins Chief Executive of the Year award at the Petroleum Economist Annual Awards

The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah was named Tuesday the Chief Executive of the Year at the Petroleum Economist Annual Awards gala ceremony in London. The award for Sanallah came as his international peers recognized NOC's success in restoring oil production...

Libya’s Central Bank raises the red flag over terrible economy

  • 15 November 2017 - 21:02
Libya’s Central Bank raises the red flag over terrible economy

  The Governor of the Central Bank of Libya (CBL) Al-Seddiq Al-Kabir, has revealed a group of reforms to save the "terrible economic" conditions in Libya.   In a presser on Tuesday, the CBL's governor said that Libya lost about 160 billion dollars due to the closure of...

Security breach in Libya’s key oilfield Sharara contained, NOC says

  • 7 November 2017 - 21:57
Security breach in Libya’s key oilfield Sharara contained, NOC says

Libya’s state oil company said on Monday there had been a “security breach” at its southern Sharara oilfield on Sunday night. An engineer at the field said unknown people had attacked the station and stolen company cars and phones from employees. The Sharara field lies deep in...

Libyan dinar sharply drops to 9 dinars per one dollar in black market

  • 5 November 2017 - 21:40
Libyan dinar sharply drops to 9 dinars per one dollar in black market

The Libyan dinar has sharply dropped today in the black market to 9 dinars per one dollar, while the one euro registered over 10 dinars, in a yet another blow to the value of the country's currency. The new setback in the value of the Libyan dinar came Sunday with more uncertainties in the...

WintershallL Libya oil output threatened with closure over protests

  • 2 November 2017 - 14:31
WintershallL Libya oil output threatened with closure over protests

German firm Wintershall confirmed on Thursday that protesters have demanded a shut down of some of the production from oilfields in its concession areas in Libya, Reuters reported. An engineer at the field and a statement from protesters had said on Wednesday that protesters had shut down 40,000...

UK Court of Appeal rejects Libyan Sovereign Wealth Fund’s right to appeal Goldman Sachs case

  • 21 October 2017 - 20:21
UK Court of Appeal rejects Libyan Sovereign Wealth Fund’s right to appeal Goldman Sachs case

Britain’s Court of Appeal has refused Libya’s $67 billion (£50.8 billion) sovereign wealth fund the right to appeal against the 2016 judgement handed down by Britain’s High Court in the fund’s $1.2 billion case against Goldman Sachs, Reuters reported on Friday. The Libyan Investment...

Libyan Bayda-based Central Bank issues LYD1 coin

  • 21 October 2017 - 13:34
Libyan Bayda-based Central Bank issues LYD1 coin

The Libyan parallel Central Bank in Bayda city in eastern Libya announced issuing new coin worth 1 Libyan Dinar (LYD1). The central bank announced on its Facebook Thursday that the coin will be circulating in the banks starting November 2nd. It also added that the reason for the coin...

Oil recovery at stake, Libya state oil firm declares

  • 11 October 2017 - 21:47
Oil recovery at stake, Libya state oil firm declares

Libya said it’s struggling to restore oil production and fellow OPEC members are sparing the nation from having to participate in their deal to cut output, Bloomberg reported. The country has revived output to almost 1 million barrels a day, but it’s “very difficult’’ to say when that...

Report: EU mission to Libya struglling

  • 2 October 2017 - 16:33
Report: EU mission to Libya struglling

The EU's mission to Libya, EUbam, has provided a bleak assessment of the country amid strained efforts to shore up its cooperation with authorities. An internal EUbam paper from mid-September, seen by EUobserver, described the ministries and coordination among the internationally-recognised...