Bank ABC (Arab Banking Corporation B.S.C.) – Bahrain Bourse Trading Code “ABC” – today announces its financial results for Q4 and full year 2023. The Group reported a surge in annual Net Profit attributable to its shareholders of 53% year on year (YoY) to reach US$235 million on the back of strong core business growth […]
An economic source revealed to Sada Economic Newspaper in a statement exclusively given that the National Oil Corporation transferred more than one and a half billion dollars during the month of February, with the latest transfer just days ago. However, the black market exchange rate of the dollar continues to be high due to the […]
Minister of Oil and Gas, Mohamed Aoun, commented in an exclusive statement to our source on the decision of the National Unity Government to pay the value of fuel supplies directly and temporarily from revenues. He stated that regulatory authorities objected to the decision, as did the Central Bank of Libya, because it is illegal, […]
Our source obtained a decision from the National Unity Government amending the authorization decision for the National Oil Corporation. The decision authorizes the NOC temporarily to set off from the oil revenue account to pay for fuel supplies and to pay the foreign partner’s share of gas supplies to the General Electricity until the results […]
Oour source exclusively obtained the response of the Libyan Islamic Bank dated October 26 to the previous observations made by the Central Bank regarding the grants of financing to major shareholders, which led to warning the bank and suspending the grants of financing to it. The latest of which was the suspension of several officials […]
Director General of the National Commercial Bank, Ali Al-Khuwildi, revealed in a statement to our source about the initiative of commercial banks “NCB, Aman Bank, UBCI, Wahda Bank, and Jumhouria Bank” regarding the acceptance of international cards at local points of sale owned by banks. He said that this process involves withdrawing personal items “cards” […]
Our source exclusively obtained correspondence from the Central Bank of Libya to the Libyan Islamic Bank, relieving the Director of the Audit Department of his duties, as well as the Director of Risk Management, and prohibiting them from holding any leadership positions due to violations observed by the Central Bank regarding the bank’s financial and […]
Our source has exclusively obtained correspondence from the Central Bank of Libya to commercial banks regarding the acceptance of international cards at local points of sale owned by banks. The guidelines grant banks the authority to accept transactions at their own points of sale. Deductions are made from both local and foreign cards equivalent to […]
Minister of Economy and Trade, Mohamed Al-Huwaij, stated in an exclusive statement to Sada Newspaper that: “The decision to prohibit the re-export of goods supplied through credits from the Central Bank is not related to locally produced goods or those imported for export to other countries through Libyan ports according to banking procedures.”
The Ministry of Economy clarified to our source that the decision of the Minister of Economy regarding the prohibition of re-exporting all goods and products applies to goods for which credits have been opened through the Central Bank of Libya. It stated that the decision does not include domestic products, which are not prohibited from […]
The spokesperson for the General Electricity Company, Wiam Al-Taib, revealed in an exclusive statement to Sada Economic Newspaper regarding the power outage issue at the Tobruk station. The operations at the Tobruk station have resumed today after supplying it with the required fuel. Thus, we officially announce the re-entry of the first gas unit at […]
The Ministry of Foreign Affairs of North Korea announced today, Tuesday, that North Korea has withdrawn all its diplomatic missions from Libya, leading to a decrease in the global total from 46 to 44. A senior official, who requested anonymity during a closed press conference, stated that the Ministry of Foreign Affairs also confirmed the […]
The Chairman of the Board of the Libyan Investment Authority and the CEO, Ali Mahmoud, held a meeting on Tuesday, January 23, 2024, at the foundation’s headquarters in the capital, Tripoli, with the Deputy British Ambassador to Libya, Katherine Wild. The meeting discussed issues related to the freezing system imposed on the Libyan Investment Authority. […]
The Economic Sada newspaper has exclusively obtained a letter from the Minister of Oil and Gas to the President of the Oil Corporation regarding his request for documents related to the project to purchase 9 power generation units. In the correspondence, Aoun stated that the Ministry of Oil and Gas received a copy of a […]
Our source exclusively obtained the commercial register and founding contract for the mentioned company in the Central Bank’s report, “Hadrian Food Imports,” which indicates that its founders are, Abdul Basit Al-Dawadi, a major shareholder in the Libyan Islamic Bank, along with his brothers, Faisal Al-Dawadi, and, Tarek Al-Dawadi, registered in the commercial register of the […]
