The French website Afrik revealed today, Thursday, the existence of a network stretching from the Mediterranean Sea to sub-Saharan Africa that participates in the illegal trade of oil. According to the French website, at the heart of this corruption is also a Turkish-Serbian businesswoman residing in Dubai. In less than five years, her family petrochemical […]
The Central Bank of Libya exclusively revealed to Sada Economic newspaper that it began this week granting approvals worth $400 million for letters of credit. The bank confirmed that starting next Sunday, at the beginning of November, it will settle and grant approvals worth $1.5 billion for letters of credit, sell $1.6 billion to banks, […]
Written by Consultant Mustafa Al-Manea In light of the transformations taking place in the global financial system, and amid reports that China plans to link its digital renminbi settlement system with ASEAN countries and some Middle Eastern nations, discussions have intensified regarding the future of the SWIFT system, which has long formed the backbone of […]
Assaray Trade and Investment Bank has recorded notable growth and outstanding financial results throughout its journey. The Chairman of the Board, Dr. Ahmed Atiga, and the General Manager, Farouk Al-Obaidi, presented the bank’s overall performance indicators, which reflected significant growth across various banking and investment activities. These include increases in assets, financing, deposits, and customer […]
A reliable source from within the Libyan Post, Telecommunications and Information Technology Company told our source that the company’s Board of Directors met today and decided to suspend the implementation of Decision No. 25. The Board also decided to dissolve the advisory committee that had prepared the decision. The source added that the Board of […]
The international news agency Reuters reported on Sunday that a court in eastern Libya has begun the retrial of 12 officials accused in the case of the collapse of the Derna Valley dams during the 2023 flood disaster. The retrial follows a decision by the Supreme Court, which accepted the appeal against the previous verdicts. […]
Financial analyst Khaled Al-Zantouti wrote: “Where is the safe haven — gold, the dollar, or perhaps the yuan soon? Many of us still believe that the dollar and gold represent eternal safe havens — but the question is, for how long? I wouldn’t disagree that gold is a safe haven — given its precious nature, […]
Economics professor Anas Al-Amin wrote an analysis titled “Inflation in Libya Between Structural Imbalance and the Socialist Legacy.” Although inflation is seen in most economies as a negative phenomenon that weakens purchasing power and disrupts markets, global experience has shown that moderate inflation can actually serve as a tool to stimulate growth—provided it is managed […]
Our source has exclusively obtained a letter from the Director of the Budget Department at the Ministry of Finance of the Government of National Unity addressed to the Department of Financial Controllers. The letter instructed the initiation of an inventory of the financial entitlements of public sector employees for the years 2012–2024, to be submitted […]
Libyan businessman Hosni Bey explained the dynamics of Libya’s economy and the reasons behind the liquidity crisis during a session of the Economic Salon — a forum that brings together leading economists, banking professionals, financial brokerage managers, businesspeople, and young entrepreneurs, alongside members of Libya’s sovereign institutions. He said: “Personally, I do not believe in […]
Energy Capital Power revealed on Tuesday that Libya faces an annual infrastructure financing gap of $37.2 billion, equivalent to about 85.8% of its GDP, which is necessary to modernize its energy, water, and transport systems by 2030. According to the African Development Bank, closing this gap is crucial not only for economic recovery but also […]
The Central Bank of Libya confirmed in an exclusive statement to our source that the liquidity issue will gradually be resolved to cover the market shortage, with shipments valued at over 14 billion to be delivered by the end of December. Adding: “With the continued acceleration of electronic payment processes, a major contract has been […]
The Central Bank of Libya confirmed in an exclusive statement to our source that the delay in settling the value of personal items is due to review and coverage verification processes. The full settlement, amounting to approximately $380 million, will be completed, along with the sale of $1.5 billion for letters of credit, which have […]
The French intelligence website Africa Intelligence reported on Sunday that a Libyan initiative has been launched at the United Nations to sanction those involved in the mismanagement of Libya’s frozen assets. According to the French website, a Libyan committee recognized by the House of Representatives has requested that the United Nations review the frozen funds […]
Our source has exclusively obtained a letter from the Chairman of the Board of Directors of the Libyan Post, Telecommunications and Information Technology Company (LPTIC) in the Eastern Region, addressed to the Attorney General. In the letter, he filed a complaint and requested an investigation into the decision issued by LPTIC in the Western Region […]
