Libya: Insurance federation calls for updating of industry legislation
The insurance law in Libya needs to be amended and updated to keep pace with market developments, especially legislation in neighboring countries, according to the secretary-general of the Libyan Federation of Insurance Companies Mr Ali Ammar Regae. He said in a statement to the newspaper Bawabat Al-Wasat that the insurance market has see n noticeable improvement as a result of political stability. There are 40 insurance companies operating in the Libyan market, including 30 registered with the Federation. T he number of insurers allows for competition and the provision of quality service s, he said . Outlining some strategies for the insurance sector, Mr Regae said that the Federation is seeking to develop the insurance sector and address the distortions that arise in the legal framework.
Source:Libya Today
March 06, 2024 03:23 UTC
Libya's central bank governor pushes for more unified government
Libya's central bank governor on Tuesday devalued the dinar currency and asked parliament's speaker to approve a new unified government, expanding his challenge to the prime minister in Tripoli. Disputes over control of government and access to Libya's state finances have often been at the heart of factional rivalry that has ripped the North African country apart since a NATO-backed uprising in 2011. The previous exchange rate, set by the central bank in December 2020 after years of different exchange rates operating in areas of Libya controlled by rival factions, was 4.8 dinars to the dollar. His move comes after months of the dinar slipping in value against the dollar, with Kabir last week blaming off-the-books spending by state institutions and asking for a unified national budget. As Libya’s duelling governments and allied militias compete for control of the country, pollution has flooded the coast.
Source:Libya Today
March 06, 2024 03:01 UTC
REAoL signs MoU with Canadian companies
A memorandum of cooperation was signed between the Renewable Energy Authority of Libya (REAoL) the Canadian consortium of Petro Techna International Company and Jacob Capital in the field of renewable energy projects. The agreement was signed by Abdul Salam Al Ansari, Chairman of REAoL and Ali Malik, President and CEO of the Canadian Petro Techna Company. The signing took place during a meeting today at REAoL’s Tripoli headquarters, which included Isabelle Savard, Canadian Ambassador to Libya. REAoL’s future visionThe meeting aimed to explain and clarify the agency’s plans and objectives and achieve the agency’s future vision after the announcement of the National Strategy for Renewable Energies and Energy Efficiency, REAoL said. Benefiting from the Canadian experienceThe meeting discussed, reviewed and discussed cooperation on the advisory and technical aspect and benefiting from the Canadian experience as, REAoL said, it is one of the advanced countries in the field of renewable energies.
Source:Libya Today
March 05, 2024 21:22 UTC
CBL workshop on “The Role of the Banking Sector in Diversifying Sources of Finance”
The Central Bank of Libya’s (CBL) Institute of Banking and Financial Studies, in cooperation with Expertise France, organized a workshop today entitled “The Role of the Banking Sector in Diversifying Sources of Finance” at the Marriott Hotel in Tripoli. The workshop discussed the announcement of the measures and decisions taken by the CBL to support the business and investment environment in Libya, strengthen the micro, small and medium enterprises sector, and activate the role of the private sector in development. The two-day workshop also aims to stimulate technological innovation in the banking field to enhance monetary policy, enhance financial inclusion services in Libya, and improve the efficiency of the banking sector through developing skills and applying international standards. Islamic Development Bank and Economic Empowerment FundDuring the workshop, the launch of the Economic Empowerment Fund was announced in cooperation between the CBL and the Islamic Development Bank, with the contribution of several state institutions. The specialized team presented an overview of the fund, its objectives, its work mechanism, and the role of each institution in its success.
Source:Libya Today
March 05, 2024 19:59 UTC
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Source:Libya Today
March 05, 2024 18:44 UTC
Italy Impounds Charity Ship Involved in at Sea Dispute With Libya
Italy often temporarily blocks the operations of charity-operated rescue vessels on the basis of a migration decree introduced last year by Prime Minister Giorgia Meloni's rightist government. A spokesperson for SOS Humanity said the charity was "falsely accused" of failing to coordinate with Libyan authorities and of putting migrants' lives at risk during a sea rescue. The charity said Libyan officers threatened its staff and migrants with a machine gun. Under international humanitarian law, migrants cannot be forcibly returned to countries where they risk serious ill-treatment, and widespread migrant abuse has been extensively documented in Libya. At the same time, Italy and other European Union governments are trying to curb the inflow of sea migrants from North Africa, and have offered money or equipment to Libya and Tunisia to stop departures from their shores.
Source:Libya Today
March 05, 2024 18:38 UTC
Is Facebook down? Outages reported in the U.S.
The outage was first reported at around 9:15 a.m. CST. Facebook communications worker Andy Stone shared this update on X, “We’re aware people are having trouble accessing our services. People on the outage detection website say that their session expired and they can’t log back in. One Downdetector user writes, “Messenger and Facebook logged me out a few minutes ago. When I reported the issue, there were only 40 reports, but now over 5000, so apparently Facebook has some issues now.”Facebook, Instagram, WhatsApp, Threads and Messenger are all run by the parent company, Meta.
Source:Libya Today
March 05, 2024 18:36 UTC
Italy impounds charity ship involved in at sea dispute with Libya
A spokesperson for SOS Humanity said the charity was "falsely accused" of failing to coordinate with Libyan authorities and of putting migrants' lives at risk during a sea rescue. The charity said Libyan officers threatened its staff and migrants with a machine gun. Libyan authorities did not respond to a request for comment. Under international humanitarian law, migrants cannot be forcibly returned to countries where they risk serious ill-treatment, and widespread migrant abuse has been extensively documented in Libya. At the same time, Italy and other European Union governments are trying to curb the inflow of sea migrants from North Africa, and have offered money or equipment to Libya and Tunisia to stop departures from their shores.
Source:Libya Today
March 05, 2024 18:30 UTC
Libya reopens southern airport closed since 2014
BENGHAZI, Libya (Reuters) - Libya reopened on Friday its airport in the main southern city of Sebha which had been closed since January 2014 due to security problems, residents said. A commercial flight landed from the main eastern city of Benghazi, they said. Southern Libya has been gripped by worse insecurity and chaos than the rest of the North African country since the toppling of Muammar Gaddafi in 2011, although security in Sebha is better than in other parts of the impoverished region. In Murzuq town to the west of Sebha, at least 90 people have been killed and 6,500 displaced since fighting broke out between different tribesmen in August, according to the United Nations. (Reporting by Ayman al-Warfalli; Writing by Ulf Laessing; Editing by Hugh Lawson)
Source:Libya Today
March 05, 2024 17:11 UTC
The EU's border agency has a duty to inform Libya's coast guard about migrant boats, official says
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Source:Libya Today
March 05, 2024 17:11 UTC
The EU’s border agency has a duty to inform Libya’s coast guard about migrant boats, official says
It said it rescued 77 people but others were forced aboard a coast guard vessel. Frontex uses aircraft, drones and other equipment to monitor the EU’s outside borders, including in international waters. The agency provides the Libyan coast guard with the location of boats that it believes are in danger. As part of the deal, the coast guard intercepts migrants in Libyan and international waters and returns them to Libya. Over the years, several witness accounts of abuses by the coast guard and detention center staff on land have been reported.
Source:Libya Today
March 05, 2024 17:03 UTC
Libya, Tripoli announces: "Ready for a joint force with the east to protect the borders"
“Agenzia Nova” talked about it with Arturo Varvelli, director of the Rome office of European Council on Foreign Relations (Ecfr) and expert on Libya. The dynamics of migratory flows in Libya is constantly evolving. According to Varvelli, Trabelsi's outstretched hand to Haftar it is above all a response to external pressures. It is well known that border control is already difficult under normal conditions of state stability. If we are in tune, we will be able to protect our country's borders within 90 days."
Source:Libya Today
March 05, 2024 16:46 UTC
German NGO accuses Libyan coast guard of threatening crew members
ADVERTISEMENTThe German charity SOS Humanity has accused the Libyan coast guard of threatening its crew members who were rescuing migrants in the Mediterranean Sea, causing at least one migrant to drown. SOS Humanity said the Libyan coast guard used violence and fired live bullets into the water during its “life-threatening intervention” on Saturday. The Humanity 1 managed to rescue 77 migrants, but many others were forced on board a Libyan coast guard boat, “separating at least six family members from each other,” it said. A spokesperson for the Libyan coast guard didn’t respond to phone calls and messages seeking comment. As part of the deal, the coast guard has intercepted migrants in Libyan and international waters and has returned them to Libya.
Source:Libya Today
March 05, 2024 16:00 UTC
Thirty-one bodies recovered after migrant boat sinks off Libya
"The boat had sunk and they were spread out in the sea, they were trying to swim towards the coast," he said. "There were about 60 people who we were able to save because they were clinging to the (remains of the) boat." Another 140 migrants were picked up from the second boat, he said. Libya is the main departure point for mostly African migrants trying to cross to Europe. The International Organization for Migration said on Friday that since 2000 the Mediterranean had been "by far the world's deadliest border" for migrants.
Source:Libya Today
March 05, 2024 14:13 UTC
Newly enlarged NATO starts drill in Finland, Norway and Sweden in defense of its Nordic turf
“For the first time, Finland will participate as a NATO member nation in exercising collective defense of the alliance’s regions,” the Finnish Defense Forces said in a statement. This year, the drill is hosted equally by Finland, Norway and Sweden. The combined joint training will focus on the defense and protection of the Nordic region, Norwegian military officials said. Finland’s new president, Alexander Stubb, will inspect the drill together with Norwegian Prime Minister Jonas Gahr Støre in northern Norway on March 7. Crown Princess Victoria of Sweden is to visit an airbase in northern Sweden on March 11, the country’s military said.
Source:Libya Today
March 04, 2024 17:27 UTC