LIA announces completion of consolidated financial accounts
The Libyan Investment Authority (LIA) announced last Thursday that it had successfully prepared its consolidated financial statements that include all its subsidiaries in cooperation with Deloitte. The LIA said the accounts were prepared with accuracy and to international standards and that this unprecedent achievement will enable the LIA and stakeholders to take strategic decisions, manage operations and assess risks. The announcement follows on from the LIA holding its first ordinary meeting in 2023 of its Council of Trustees on 17 December.
Source:Libya Today
December 23, 2023 14:08 UTC
Sleighing it for years, with a smile
The lamb cutlets dish at Greensborough RSL. Entree plate of salt and pepper calamari at Greensborough RSL. The couple settled in a Greensborough house where they still live. He said Santa photos used to be developed at a Kodak store in the Plaza and picked up by customers a few hours later. Adults often pose for Santa photos.
Source:Libya Today
December 22, 2023 18:31 UTC
140 more BD nationals return home from Libya
A fresh batch of 140 Bangladeshi citizens has returned home from Libya by a chartered flight of Buraq Air, reports UNB. Among them, 113 people were affected by floods in the city of Derna in the eastern Libya and 27 were detained at Ganfouda detention centre in Benghazi, according to a foreign ministry press release. Foreign ministry officials and officials of International Organisation for Migration (IOM) received them at the airport. The Ministry of Foreign Affairs, with the financial support of the IOM, is facilitating the return of illegal Bangladeshi migrants stranded in Libya. As part of this initiative, a total of 975 Bangladeshis have been brought back to the country from Libya from July 2023, according to the foreign ministry press release.
Source:Libya Today
December 22, 2023 18:06 UTC
Digital Signage in Government
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Source:Libya Today
December 21, 2023 20:25 UTC
Major effort by the Ministry of Economy to bring back Chinese companies
The meeting was in the presence of Director of the Department of Foreign Trade and International Cooperation at the Ministry of Economy and Trade, Mr. Essam Al-Malhouf, and Chairman of the Libyan Chinese Business Owners Council, Milad Al-Breiki. Call on Chinese companies to work in LibyaWadi said, the Advisor to the Minister of Economy and Trade called on major Chinese companies to work in Libya, promising them to facilitate the necessary procedures while removing all difficulties and obstacles that would facilitate the completion of previous projects and the establishment of new projects. Wadi confirmed the Minister of Economy and Trade’s interest in the Chinese economic and trade file and encouraged Chinese companies wishing to return to work in Libya. China’s participation in constructing the new Tripoli International FairWadi said that the Ministry of Economy would like the participation of Chinese companies to establish the new Tripoli International Fair, which has an area of about 47 hectares with international standards and is located south of the city of Tripoli, 20 kilometres from Tripoli International Airport in the Saadiya area. Investment in free Zones, SEZs, transit tradeWadi stressed the desire of the Ministry of Economy to invite Chinese companies to benefit from the advantages of free zones and special economic zones and the promising opportunities for transit trade and investment in them.
Source:Libya Today
December 21, 2023 19:56 UTC
L3Harris Completes CDR for Tranche 1 Tracking Layer Satellites for the SDA
The Tranche 1 Tracking Layer will identify and track hypersonic weapons and advanced missiles, as part of the SDA’s Proliferated Warfighter Space Architecture. Northrop Grumman said last month that it had finished the CDR for the company’s 16 missile tracking satellites for SDA’s Tranche 1 Tracking Layer. SDA has said that it plans to launch the remaining four wide field of view Tranche 0 Tracking Layer satellites by L3Harris by the end of the year in a collaborative launch with the Missile Defense Agency (MDA). SDA has said that tardy deliveries of microelectronics and space system components for Moog, Inc. -built satellite buses for the four L3Harris Tranche 0 Tracking Layer satellites have delayed launches. Contractors for the Tracking Layer include L3Harris, Northrop Grumman, RTX and SpaceX.
Source:Libya Today
December 21, 2023 19:35 UTC
Libyan Officials Discuss Financial Stability and Energy Sector Growth for 2024
Libyan Officials Discuss Financial Stability and Energy Sector Growth for 2024In a recent meeting, Musa Al-Koni, a representative of the Presidential Council, and Siddiq Al-Kabir, the Governor of the Central Bank of Libya, discussed the nation’s current financial status and the mechanisms in place for preparing the 2024 budget. The two officials underscored the importance of cooperation between relevant authorities to achieve financial and monetary stability in the state. Setting the Financial Course for 2024The discussion centered around creating a roadmap for Libya’s financial future, aiming to foster growth and stability. They also focused on the significant strides made in Libya’s financial sector, including international cooperation to enhance climate action and effective management of Libya’s resource wealth. USAID aims to provide technical assistance to secure long-term stability and effective management of Libya’s resource wealth.
Source:Libya Today
December 21, 2023 18:17 UTC
Libya: Strategic Roadmap For Oil And Gas Exploration In 2024 – OpEd – Eurasia Review
As a result, the Libyan National Oil Corporation had to declare its inability to fulfill its contractual obligations. In response, the National Oil Corporation raised crude oil production closer to pre-blockade levels of 1.164 million barrels per day and stated that production in 2023 should average 1.2 million barrels per day. As Europe searches for alternative energy sources and reduces reliance on Russian energy, Libya is well-positioned to become a pivotal export hub for oil and gas. Additionally, Libya has taken proactive steps to bolster its gas production, including securing a substantial offshore gas deal with Eni and planning exploratory drilling in key basins. In conclusion, the National Oil Corporation of Libya has presented an ambitious plan to enhance the production of oil and gas, minimize gas flaring, and improve transparency in financial reports.
Source:Libya Today
December 21, 2023 18:16 UTC
140 more Bangladeshis return home from Libya
A fresh batch of 140 Bangladeshi citizens returned home from Libya on Thursday by a chartered flight of Buraq Air. Among them, 113 people were affected by floods in the city of Derna in the eastern Libya and 27 were detained at Ganfouda detention centre in Benghazi, according to a foreign ministry press release. 136 more Bangladeshis repatriated from LibyaAt that time, Mostofa Jamil Khan, director (Welfare) of the Ministry of Foreign Affairs, inquired about the repatriated Bangladeshis. The Ministry of Foreign Affairs, with the financial support of the IOM, is facilitating the return of illegal Bangladeshi migrants stranded in Libya. 145 more Bangladeshis return from LibyaAs part of this initiative, a total of 975 Bangladeshis have been brought back to the country from Libya from July 2023, according to the foreign ministry press release.
Source:Libya Today
December 21, 2023 17:54 UTC
Japan’s Axelspace Raises $44 Million in Series D Round
Japanese satellite company Axelspace raised $44 million in a Series D funding round, the company announced Dec. 20. Axelspace, based in Tokyo, has an Earth observation (EO) business and manufactures microsatellites as well. The company said it will use the funds to improve its EO business by expanding its five-satellite constellation. Sumitomo Mitsui Banking Corporation / SMBC Venture Capital Management Co., Ltd. / Global Brain Corporation led the funding round, which included a number of other investors including Mitsui Fudosan Co.; Yamato Holdings Co; and Epson X Investment Corporation. Axelspace, which was founded 15 years ago, has raised a total of 14.3 billion Japanese yen ($100 million).
Source:Libya Today
December 21, 2023 17:30 UTC
New machine-readable biometric e-passports and e-ID cards to be issued
Libya is to issue new biometric, machine readable passports and e-ID cards. The meeting was to follow up on the executive procedures to modernize the system of passports and electronic cards. RELATED POSTS No Content AvailableIt will be recalled that Libya’s so-called biometric passports were first revealed in February 2013 by the Ali Zeidan government. However, by the time they were actually released to the public they still did not contain any biometric data. New biometric passports out soon – Deputy PM Al-Gadi (libyaherald.com)New biometric passports due by the end of July: Government (libyaherald.com)Libya begins issuing new, safer versions of diplomatic and private e-passports (libyaherald.com)Libya and NEC activate biometric border control contract (libyaherald.com)Over 150,000 new e-passports applied for online in hours (libyaherald.com)Half a million new e-passports arriving by early March (libyaherald.com)Libya’s new biometric passport officially revealed (libyaherald.com)
Source:Libya Today
December 21, 2023 13:29 UTC
Waning influence of OPEC+ in spotlight as prices flag
Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output. In an effort to prop up prices, the OPEC+ alliance has implemented supply cuts of more than five million barrels per day (bpd) since the end of 2022. Furthermore, the OPEC+ alliance was unable to agree on a group-wide production cut that all 23 members would have supported. Founded in 1960, the 13-member OPEC cartel in 2016 partnered up with 10 other producers to form OPEC+ to gain more clout. At the COP28 summit in Dubai, OPEC Secretary-General Haitham Al Ghais urged OPEC+ members in a heavily criticized letter to "proactively reject" any language that "targets" fossil fuels rather than emissions.
Source:Libya Today
December 21, 2023 10:55 UTC
Libya’s former Ambassador and Financial Controller in Uganda imprisoned
The Attorney General’s Office reported on Monday that the Criminal Court issues a ruling convicting the head of the Libyan mission in Uganda and the mission’s financial affairs officer from 2013 to 2017. The Attorney General’s Office said they were convicted of two charges having failed in their ethical duties. The head of the mission was sentenced to imprisonment for a period of thirteen months and the financial controller was imprisoned for one year. They were acquitted of two other charges.
Source:Libya Today
December 21, 2023 10:04 UTC
Libya’s Financial Roadmap: Preparing for 2024
Libya’s Financial Roadmap: Preparing for 2024In a crucial meeting, Musa Al-Koni, the esteemed representative of the Presidential Council of Libya, and Saddek Elkaber, the Governor of the Central Bank of Libya, addressed the nation’s financial situation for the current year. The principal focus of their discussion revolved around the methodology for preparing the 2024 budget in collaboration with pertinent authorities. Drive Towards Financial StabilityDuring the meeting, Al-Koni lauded the efforts made towards achieving financial and monetary stability for Libya. Developments in Libya’s Financial SectorThere have been significant developments in Libya’s financial sector, including the US increasing support for diversified energy development in the country and the Central Bank of Kenya partnering with the European Investment Bank to enhance climate action by Kenyan financial institutions. These efforts aim to secure long-term stability and effective management of Libya’s resource wealth, highlighting the international cooperation involved in bolstering Libya’s economic future.
Source:Libya Today
December 21, 2023 09:41 UTC
140 Bangladeshis return home from Libya
A total of 140 Bangladeshi nationals, who were stuck in Libya, returned home today. Among them, 113 people were affected by floods in the city of Derna in eastern Libya and 27 were detained at Ganfouda detention centre in west of Benghazi. A flight of Buraq Air carrying the Bangladeshi nationals landed at Hazrat Shahjalal International Airport in Dhaka at 6:30 am on Thursday (December 21), according to the Foreign Ministry. With the all-out efforts of Bangladesh Embassy in Tripoli, Libyan government and direct cooperation of International Organization for Migration (IOM), the detained Bangladeshis returned home. After their arrival at the Dhaka airport, Ministry of Foreign Affairs officials and IOM officials welcomed these Bangladeshi citizens.
Source:Libya Today
December 21, 2023 09:34 UTC