The Central Bank of Libya revealed in a statement exclusively to our source that it actually began at 9 a.m. selling $1.5 billion to commercial banks—$500 million for personal purposes as full settlements and $1 billion for letters of credit. The Central Bank had exclusively informed our source earlier about its commencement on Sunday of […]
The website Upstream revealed on Sunday that three companies holding stakes in one of Libya’s most important onshore oil assets are expected to sign an agreement “soon” to nearly double production to up to 700,000 barrels per day. The site noted that the investment plan is part of Libya’s goal to boost production to 2 […]
Despite his previous decision to ban fish exports and its subsequent withdrawal, the Minister of Economy in the Government of National Unity, Mohamed Al-Huwaij, has returned to grant approvals to several companies to export large quantities of fish, including “Ain Al-Roumia Al-Oula for Importing Foodstuffs and Meat,” which was granted permission to export 20,000 tons […]
Financial analyst Khaled Al-Zantouti told our source in an exclusive statement:“I am undoubtedly in favor of these regulatory measures — but what matters is their implementation.” He added:“Exchange companies are theoretically channels for buying and selling foreign currency and carrying out local and international money transfer services. They also play a positive role in supporting […]
Exclusive sources told Sada Economic Newspaper that the Minister of Economy in the Government of National Unity, Mohamed Al-Huwaij, is the one responsible for the imprisonment of the Director of the Trademarks Office at the Ministry of Economy, Salah Al-Hawali. According to the sources, Al-Hawali was officially appointed to manage the Trademarks Office, succeeding former […]
A senior official at the Central Bank of Libya stated exclusively to our source:“We expect the dollar to fall below 7.50 LYD next week following the injection of $1.5 billion through the foreign exchange system.” According to the source, this move will support the upcoming meeting with exchange companies and offices next Sunday, during which […]
The Central Bank of Libya announced that Governor Naji Mohamed Issa has approved the issuance of new final licenses for 52 exchange companies and offices, bringing the total number to 187 licensed entities covering all regions of Libya. In addition, 108 companies and offices have been granted preliminary licenses, as listed in the attached documents. […]
The Central Bank of Libya revealed in an exclusive statement to our source that it is currently studying a mechanism for the operation of exchange companies and offices, by providing them with foreign currency both in cash and through direct transfers. The Central Bank stated that once this package succeeds — including the withdrawal of […]
Libya affairs expert at the Royal United Services Institute, Jalel Al-Harchaoui, told our source on Sunday:“Despite the visit of Massad Boulos this month, I see no sign or evidence of progress in the negotiations.” He pointed out that some modifications were made to these talks concerning Libya’s overseas funds earlier this year, during the spring. […]
Akram Abdullah Al-Ghaziwi, Deputy General Manager of Takaful Insurance Company, told our source:“In many countries around the world, banks play a key role in marketing and selling insurance policies. This integration between the banking and insurance sectors is known as Bancassurance. Despite the global success of this model, Libyan banks remain outside this partnership framework, […]
The CEO of Spanish oil company Repsol, José Ángel Fernández, stated that the improvement in security and social conditions in Libya has allowed the company to resume operations and boost production in several fields. In an interview with Investing.com, Fernández said: “I believe Libya is witnessing social, political, and security improvement.” He pointed out that […]
The Central Bank of Libya revealed in an exclusive statement to our source that it has allocated an amount of 1.5 billion dollars to settle the value of approvals for credits and to sell them to banks for a value of one billion dollars next Sunday. This is in preparation for the start of operations […]
The political economy and investment researcher, Amru Al-Khattali, wrote an article in which he stated: In the field of information technology and innovation, the Casablanca Technopark was established to support the growth of the electronics and semiconductor sectors. As a result, Morocco’s exports of medium-tech products have far surpassed those of its regional competitors, such […]
Legal advisor Hisham Al-Harati spoke exclusively to our source, stating that while the Central Bank of Libya is actively confronting speculation attempts and leading clear monetary reform steps, continued laxity by some public bodies in controlling spending poses a direct threat to the stability of the national economy. He added: “The Central Bank’s policies cannot […]
The Central Bank of Libya told our source exclusively: “Some positive indicators have begun to emerge in terms of controlling public spending, especially parallel spending, thanks to certain understandings reached between local and international parties.“ The Central Bank added to our source: “Once this package succeeds—specifically the withdrawal of the 20-dinar banknote and the launch […]
