The Italian news agency Nova reported on Sunday that Italy reaffirmed its position as Libya’s main trading partner during the first quarter of 2025. Despite a slight decrease in total trade volume, a study conducted by Italy’s foreign trade promotion agency “ICE-Agency,” based on data from the Italian Institute of Statistics (Istat) and the Ministry […]
In an exclusive interview with our source, Libyan businessman Husni Bey made a direct appeal to the President of the Audit Bureau, Khaled Shakshak, calling for justice and correction of what he described as a “grave injustice” inflicted on his companies and their directors. This came as a result of what he called a malicious […]
In a recent article, Ahmed Zahir wrote: “Social class has always been a reflection of the nature of the economy. In agrarian societies, elites derived their power from land ownership and the ability to organize labor within it. In pre-oil Libya, the social structure was influenced by this pattern. A powerful class of large landowners […]
The American Bloomberg Agency reported today, Wednesday, citing the National Oil Corporation (NOC) of Libya, that Chevron and TotalEnergies are competing in the first oil exploration bid in Libya since the conflict in 2011, aiming to help increase production. Masoud Suleiman, Chairman of the Board of the National Oil Corporation, said in an interview with […]
The World Bank revealed today, Tuesday, a report stating that the Libyan economy showed promising signs of recovery during 2024 and remained resilient despite challenges stemming from its reliance on hydrocarbons and the ongoing political and security instability. According to the World Bank’s latest report on Libya, the economy contracted by 0.6%, mainly due to […]
The Central Bank of Libya exclusively revealed to our source that it began this morning processing letters of credit and personal use requests allocated a total of $1 billion for this week. This move aims to stabilize the market and provide foreign currency to importers—especially small traders.
The Central Bank of Libya told our source exclusively: “As part of its commitment to fairness and equal opportunity among suppliers of goods and services, an electronic system will be launched starting in early August to accept letters of credit applications through banks. This system will allow suppliers to submit their requests digitally, and the […]
Our source has exclusively obtained a letter from the Governor of the Central Bank of Libya addressed to the Minister of Finance of the Government of National Unity. The letter requests the issuance of instructions to the Customs Authority obligating all suppliers using payment tools not approved by the Central Bank of Libya to submit […]
Our source has exclusively obtained a letter from the Governor of the Central Bank of Libya regarding his instructions to banks and licensed exchange offices and companies. The directive authorizes banks to open foreign currency-denominated accounts for exchange offices and companies that have been granted operating licenses by the Central Bank of Libya to conduct […]
The Governor of the Central Bank of Libya, in a letter addressed to the Minister of Economy of the Government of National Unity, called for the resumption of the suspended decision regarding the regulation of import and export activities. This decision stipulates that the practice of import, export, and re-export should be restricted solely to […]
The tech blogger “Amin Salih” wrote an article entitled: A harsh testimony about the Libyan telecommunications sector “Today, I share with you a personal testimony about the reality of the telecommunications sector in Libya, and the companies of the LPTIC, from a period I fully witnessed. And if this sector witnesses a collapse in the […]
The Central Bank of Libya told our source exclusively that it has agreed on a mechanism to inject $1 billion for letters of credit and personal use, and to settle all pending requests in the system, with work accelerating starting tomorrow, Tuesday. The Central Bank will continue monitoring all foreign currency requests from traders, including […]
Our source has exclusively obtained the decision issued by the Board of Directors of Al-Ahlia Cement Company, which stipulates a price adjustment for cement starting from July 1. According to the decision, the price of one ton of bagged cement produced by the company’s factories and delivered at the factory gate (on truck bed) will […]
Our source has exclusively obtained a letter from the Governor of the Central Bank of Libya addressed to the Minister of Interior in the Government of National Unity. In the letter, the Governor called for strict and deterrent measures to limit and eliminate the practice of buying and selling foreign currency outside official channels and […]
Our source that commercial banks have started swiftly approving letters of credit for small traders, following the Central Bank of Libya’s decision to set a credit ceiling of $300,000. The sources confirmed that any citizen applying for a letter of credit within this set limit now receives approval within just two days—an indication of the […]
