NCB launches US$ 100,000 limit debit Mastercard for SME sole traders
Announcement regarding the business card for small merchants and craftsmen (individual licenses)The state National Commercial Bank (NCB) announced the start of receiving applications for the issue of the US$ 100,000 limit business debit Mastercard starting tomorrow, Sunday 12 November. Sole trader merchants or craftsmen must have a current account with the NCB and must have a valid Central Bank of Libya (CBL) Key (to mitigate foreign currency fraud). The trade activity must not be subject to the approval of the Food and Drug Control Department, and the applicant for issuing the card must submit a statement of his approval for the regulatory authorities to examine the movement of the card and purchases through it (to mitigate foreign currency fraud). The supplier must undertake to submit customs declarations to the bank within a period not exceeding two months from the date of deducting the amount from the card balance (to mitigate foreign currency fraud). Documents required to obtain a CBL Key
Source:Libya Today
November 11, 2023 14:14 UTC
At Gharian cabinet meeting, Aldabaiba explains fall in black-market value of dinar and resounds alarm over fuel subsidies
We allocated US$ 50 million in humanitarian aid to the people of Gaza out of solidarity and duty. Our doors are open to regulatory authorities to monitor government spending on projects in various parts of the country. We are working to establish 10 schools, of which we have created 8 schools in the city of Gharian. The fuel subsidy numbers are frightening. Electricity takes 60% of the fuel subsidy, and the value of 40 billion dinars is the fuel subsidy for citizens.
Source:Libya Today
November 11, 2023 13:27 UTC
LAIP discusses cooperation with Turkish Yildirim Group and African Finance Corporation
The Chairman of the Libya Africa Investment Portfolio (LAIP), Mustafa Abu Funas, conducted a working visit to the YILDIRIM Group of Companies at the group’s headquarters in the Turkish city of Istanbul last Monday. Abu Funas met with Robert Yuksel YILDIRIM, President & CEO of the Group, in the presence of Emin Çakmak, President of the Union of Turkish Investors in Africa. African Finance Corporation (AFC) interested in financing projectsA delegation of senior officials from the African Finance Corporation (AFC), whose membership includes 40 African countries, also joined the meeting. They expressed their interest in cooperating with LAIP in financing investment projects in Libya and on the African continent. It is noteworthy that the Yildirim Group of Companies operates in 9 different sectors, including energy, minerals, port management, maritime shipping, and construction, in addition to finance and international trade, and is present in 56 countries, with 25,000 employees.
Source:Libya Today
November 11, 2023 02:10 UTC
NOC launches Investor Registration Portal
Libya’s state National Oil Corporation (NOC) announced on Wednesday the launch of its Investor Registration Portal which it says aims to exploit the potential of undeveloped oil fields and enhance the infrastructure of the oil sector. Launching its new investor portal, the NOC said ‘‘As we navigate through an era of unprecedented opportunities within the energy sector, the National Oil Corporation (NOC) of Libya stands on the cusp of a significant upsurge in oil production, with a strategic target to reach 2 million barrels per day. By registering on the NOC’s Investor Registration Portal, you will unlock access to a wealth of opportunities that Libya’s energy sector has to offer. This portal is your gateway to detailed project information, strategic insights, and a partnership that promises mutual growth. Forge a Partnership with VisionWe encourage you to register and discover the potential for a rewarding partnership with NOC.
Source:Libya Today
November 11, 2023 02:10 UTC
Today's top news: Occupied Palestinian Territory, Lebanon, Myanmar, Nepal, South Sudan, Libya
In Gaza, OCHA says people continued to flee south. The provision of life-saving assistance to affected civilians in northern Shan – including cash, food and essential relief items – continues wherever possible. Given dropping temperatures, OCHA warns there is an urgent need for warm clothing, winterized shelter, health care and food support. South SudanThe acting Humanitarian Coordinator in South Sudan, Marie-Helene Verney, today condemned a deadly attack on humanitarians in the south-east of the country. The UN and partners have reached some 180,000 people with humanitarian assistance in the past two months – including food, cash assistance and shelter kits.
Source:Libya Today
November 10, 2023 20:41 UTC
Libya Offshore Gas Capture: Saipem EPC Award
Italian oilfield services company Saipem has subcontracted compatriot Rosetti Marino to carry out Engineering, Procurement and Construction (EPC) services for part of the $1bn contract it won in August from Eni-led Mellitah Oil & Gas consortium for the Bouri Gas Utilization Project offshore Tripoli (MEES, 18 August). This in turn forms part of a larger $8bn deal signed between Libya’s NOC and Italy’s Eni in January to develop 6tcf of gas on ‘Structures A&E’ for tie-back to its existing facilities as well as the capture of currently-flared gas at Bouri (MEES, 3 February). (CONTINUED - 322 WORDS)
Source:Libya Today
November 10, 2023 17:00 UTC
OMV, Sonatrach To Resume Libya Exploration
Libya is set for an exploration upturn next year with Austria’s OMV and Algerian state firm Sonatrach following on the heels of Eni and BP in announcing plans to resume exploration in the country next year. On 7 November, Sonatrach’s recently-reinstated CEO Rachid Hachichi (MEES, 6 October) met with Libya’s NOC Chairman Farhat Bengdara in Tripoli, where he announced his company’s plans to make a “strong comeback” in Libya through oil exploration and production operations. He added that Sonatrach plans to open an office in Libya to “closely monitor operations.” (CONTINUED - 230 WORDS)
Source:Libya Today
November 10, 2023 16:55 UTC
Videos of migrants being tortured in Libya published on social media
In videos published by the NGO Refugees in Libya on its X account, three men and two women are violently beaten by human traffickers. The victims, believed to be detained in the town of Bani Walid, can be seen pleading for help. The scenes are thought to take place in Bani Walid, about 200 kilometers south of Tripoli. The Eritrean migrants are depicted being violently beaten on their backs by men armed with sticks – and they are covered in bruises. So… pic.twitter.com/YusJZvpfvh — Refugees In Libya (@RefugeesinLibya) November 5, 2023"The videos were sent to us by the traffickers themselves," said Yambio.
Source:Libya Today
November 10, 2023 13:03 UTC
Jumhouria bank employee imprisoned for 30 months for LD 1.8 million fraud
The Attorney General’s Office revealed on Monday that Tripoli Criminal Court ruled that a bank employee be imprisoned for 30 months and fined her 3.6 million dinars, obliging her to return the amount of 1.8 million she had seized from a customer’s bank account. Four other bank employees were also imprisoned for one year due to negligence and failure to report the criminal incident after they learned of its commission. The court ruled to suspend the enforcement of the penalty of two convicts.
Source:Libya Today
November 10, 2023 12:00 UTC
Ministry of Labour signs MoU with Industrial Zones Authority on training and labour housing
Under the patronage of the Minister of Labor and Rehabilitation, Ali Al-Abed Al-Rida, a memorandum of cooperation was signed between the Ministry of Labor, represented by Ali Al-Hadi Al-Magouri, in his capacity as Undersecretary of the Ministry of Labour and Rehabilitation, and the General Authority for Libyan Industrial Zones, represented by the Director-General of the Authority, Adel Al-Masry. The MoU was signed last Wednesday at the headquarters of the General Authority for Industrial Estates in Tripoli and the General Authority for Libyan Industrial Zones said the MoU was within the framework of the importance of supporting youth and contributing to achieving sustainable development goals and advancing the national economy. – Work together to develop the necessary plans to implement labour housing projects within the framework of industrial zones. – Cooperating and working together to establish labour and occupational safety inspection points within industrial zones. 2- Participation between the two parties in holding conferences, seminars, workshops and exhibitions at the local and international levels related to the field of work of the two parties.
Source:Libya Today
November 10, 2023 06:45 UTC
A time-spinning epic of love, hate and fossil fuels
In the second, in 1908 Persia, the British have just begun mining oil, and Amy is a sprightly eight-year-old. Hickson sets each of her five acts in a different era, with an evolving oil dependence. The same mother, May (Brook Satchwell) and daughter Amy (Charlotte Friels) inhabit each era, with Amy simultaneously a spinning metaphor for oil. It happens with alcohol, drugs, food, gambling, shopping and even fossil fuels. Act Three is in 1970 England, and Amy is an unruly teen, just as Gaddafi’s Libya is bucking against British oil exploitation.
Source:Libya Today
November 10, 2023 02:32 UTC
Dbeibeh to send $50 million in humanitarian aid to Gaza
The Libyan Government of National Unity will provide 50 million US dollars as part of international relief efforts for the Palestinians in the Gaza Strip. “We remain convinced that the Palestinian people are at grave risk of genocide,” the group of experts, made up of seven U.N. special rapporteurs, said in a statement. “The situation in Gaza has reached a catastrophic tipping point,” the U.N. experts said, adding that Gazans had been left with scarce water, medicine, fuel and essential supplies while facing health hazards. The experts also pointed to Israel allies, which they said “bear responsibility and must act now to prevent its disastrous course of action”. “We call on Israel and its allies to agree to an immediate ceasefire,” the U.N. experts said.
Source:Libya Today
November 09, 2023 21:48 UTC
Dbeibeh: Fuel smuggling will not stop until we scrap subsidy
Prime Minister Abdul Hamid Dbeibeh is considering plans to scrap fossil fuel subsidy in attempt to stop smuggling. Speaking during a cabinet meeting in Gharyan today, Dbeibeh affirmed that ending fuel subsidization is the only way to end smuggling and disrupt the black market. Public sector wages and salaries and food and fuel subsidies constitute more than half of the spending in the Libyan state budget. Earlier this week, Farhat Bengdara, Chairman of the National Oil Corporation (NOC), unveiled staggering annual fuel costs, exceeding $8 billion for electricity stations and around $4 billion for various other uses. In a meeting with Dbeibeh on November 8, Bengdara, pointed out that there is no mechanism that determines the need levels for gasoline and diesel.
Source:Libya Today
November 09, 2023 20:14 UTC
Leaders of Libya’s parliament and state council pledge to continue elections talks
The Chairman of Libya’s High Council of State and the Speaker of the House of Representatives agreed Wednesday to continue consultations on the country’s political crisis. Mohamed Takala and Aguila Saleh met in the Egyptian capital Cairo, according to a statement from the High Council of State’s media office. On June 3, it was announced that the committee members had approved laws that would pave the way for elections in Libya. On June 9, a statement was issued by the committee for determining election laws in Libya saying the draft election laws had been unanimously approved by the members, declared as final, and that future elections would be conducted in accordance with these laws. The High Council of State had announced that the election laws approved by the committee had been submitted to the Special Representative of the UN Secretary General to Libya, Abdoulaye Bathily.
Source:Libya Today
November 09, 2023 16:52 UTC
Last 12 months on Earth were the hottest ever recorded, analysis finds
Last 12 months on Earth were the hottest ever recorded, analysis findsThe 12 months ending in October were the hottest ever recorded on Earth and likely the planet’s hottest 12-month period ever recorded, according to a report from the nonprofit science research group Climate Central
Source:Libya Today
November 09, 2023 11:29 UTC