Rise Vision is a Game Changer at Burkburnett ISD
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Source:Libya Today
May 02, 2024 17:14 UTC
Hyundai resumes work on Tripoli West 1,400 MW power station: GECOL
The General Electricity Company of Libya (GECOL) announced yesterday that Korea’s Hyundai had resumed work on the Tripoli West 1,400 MW Steam Power Station project. At a ceremony yesterday, GECOL’s Chairman, Mohamed Al-Mashay, inaugurated the resumption of work on the project, in the presence of the Minister Counsellor of the Embassy of the Republic of South Korea, the Tripoli West Steam Station Project Manager of the Korean Hyundai Company, the directors of the company’s general departments, and several of those concerned in the field of energy. Will contribute to stability of electrical networkGECOL noted that the addition of this project will make a notable contribution to the stability of the electrical network throughout the country upon completion of its implementation. The power plant consists of 4 units with a total production capacity of 1,400 megawatts that will enter the network ‘‘as soon as it is ready’’, it added. Strategic projects aim to attain sustainable rotating generation reserveFor his part, the Chairman of the Company’s Board of Directors stressed his keenness to increase the reliability of the components of the public electrical network by increasing new generating units as part of a package of strategic projects that aim to reach a rotating reserve that exceeds demand, and thus sustains the electrical supply to citizens.
Source:Libya Today
May 02, 2024 14:17 UTC
Migrants, Piantedosi receives counterparts from Algeria, Libya and Tunisia in Rome: Regional approach to reduce illegal flows
The Minister of the Interior said this today, Matteo Piantedosi, at the opening of the meeting held at the Interior Ministry with his counterparts Brahim Merad (Algeria), Imad Trabelsi (Libya), Kamel Fekih (Tunisia). Also present at the meeting was the Deputy Minister of Foreign Affairs, Edmund Cirielli, responsible for Italian development cooperation strategies. At the opening of the meeting, the head of the Interior Ministry thanked the ministers for "the excellent and continuous collaboration already in place", reports a note from the Ministry of the Interior. “When migrants arrive on the North African coast ready to embark – continued Minister Piantedosi – we have all already compromised our ability to prevent irregular flows of migrants. The meeting also aims "to unify visions and adopt a global approach to combat the phenomenon of illegal migration".
Source:Libya Today
May 02, 2024 13:02 UTC
Libya’s first Quality of Food Industry & it’s Pests Management Expo opened
Libya’s first Quality of Food Industry & it’s Pests Management Expo opened Tuesday in Tripoli. The event is sponsored by the Misrata Chamber of Commerce, Industry and Agriculture,In his opening speech, Fathi Al-Amin Al-Turki, Misrata Chamber Chairman, praised these types of exhibitions and their importance, which reflects on the food industry in Libya. The two-day exhibition extends over two days, during which many accompanying activities will be held, including workshops, seminars, and the presentation of several research papers.
Source:Libya Today
May 02, 2024 12:48 UTC
Libyan Central Bank starts Article IV consultations with IMF
The Central Bank of Libya (CBL) announced the beginning of "Article IV" consultations for 2024 with the International Monetary Fund (IMF), on Wednesday morning, at the IMF's headquarters in Washington D.C. The CBL said on its Facebook page that consultations with the IMF would continue for ten days to evaluate the general economic and financial situation and the policies and measures taken in Libya in 2023. The CBL explained that these consultations would be joined by specialized technical teams representing the ministries of Finance, Economy and Trade, Planning, Labor and Rehabilitation, and the teams of the Audit Bureau and the National Oil Corporation. The Central Bank indicated that the "Article IV" consultations with the IMF come after the success of last year, and following the consultative meetings of Governor Al-Siddiq Al-Kabir and his accompanying team with the IMF team, which took place on the sidelines of the annual meetings of the IMF and the World Bank in mid-April.
Source:Libya Observer
May 01, 2024 18:43 UTC
Consortium of American agricultural companies visit Libyan pivot irrigation project in east
The consortium visited the huge single pivot (circles) irrigated Jardinah Agricultural Project. The consortium were led by Ahmed Al-Ghazali, Vice President of the American Chamber of Commerce in Libya (AmCham). The four American companiesThe four American companies are: Valley Valmont for Center and longitudinal and Advanced Irrigation Systems; New Holland for agricultural tractors, harvesters and agricultural equipment of all types and sizes; FarmTech Company, which designed and implemented a large group of agricultural projects in Libya, including the Jardinah-Benghazi project; and FGM which specializes in project management. 9,000 hectares irrigated projectThe Jardinah agricultural project is one of the major Libyan agricultural projects with an irrigated area of the project is 9000 hectares. This makes the project of great importance and one of the best options to contribute to strengthening the principle of food security in Libya, achieving economic growth and contributing to social stability.
Source:Libya Today
May 01, 2024 17:02 UTC
Libya’s Benghazi based Tika Construction Chemicals makes waves in industry
Libya’s Tika Construction Chemicals, a growing enterprise founded in Benghazi, has quickly established itself as a key player in the construction chemicals market. Since launching operations in 2023 with its first production line of tile adhesives, the company has made significant strides in both local and international markets. These tile adhesives are engineered for securing ceramic and porcelain tiles, suitable for both indoor and outdoor applications. ExpansionExpanding its footprint, Tika has opened distribution outlets across Libya in cities including Tripoli, Benghazi, Misrata, Beida, Derna, and Tobruk. Achieving European Quality Mark and ISO-9001In recognition of its uncompromising quality standards, Tika Construction Chemicals has earned the prestigious European Quality Mark (CE Stamp) after rigorous testing at ApplusLabs in Spain.
Source:Libya Today
May 01, 2024 13:28 UTC
The ‘‘Made in Algeria 3’’ exhibition will be held from 3 to 6 June at the Tripoli International Fairgrounds.
The ‘‘Made in Algeria 3’’ exhibition will be held from 3 to 6 June at the Tripoli International Fairgrounds. The local organisers report that the event will include ‘‘the participation of a group of the most prominent Algerian companies specialized in various fields’’ enabling visitors to the event ‘‘to learn about their products and services’’. They added that visitors ‘‘will learn about Algerian products that are witnessing a strong development in the path of industry and trade’’, with the event offering Libyan counterparts ‘‘a bridge for communication and commercial (for those) looking for an effective partnership’’. 55 Algerian entities at Tripoli’s second ‘‘Made in Algeria’’ exhibition (libyaherald.com)RELATED POSTS No Content AvailableMade in Algeria expo to be held in Tripoli 28 to 31 May at Tripoli Sports City (libyaherald.com)Algeria and Libya’s strategic ‘‘gateway’’ location and sub-Saharan Africa’s huge potential heralds great potential for transit trade (libyaherald.com)More meetings on reopening the Ghadames-Debdeb Libyan Algerian border crossing (libyaherald.com)Algerian business delegation Tripoli visit in mid-July, maritime line, readiness to open Ghadames land border – discussed with Algerian ambassador (libyaherald.com)Algeria’s Sonelgaz delegation arrives in Tripoli to progress electricity cooperation agreement (libyaherald.com)Algeria to reopen its border with Libya as part of its diversification plans – by becoming hub for sub-Saharan transit trade | (libyaherald.com)Customs Authority preparing to reopen Libyan-Algerian Ghadames-Debdeb border crossing | (libyaherald.com)Libya and Algeria agree to resume flights, reopen land borders and launch maritime lines | (libyaherald.com)Libyan Economy Minister participates in Algerian Libyan Economic Forum 29-31 May | (libyaherald.com)Libya and Algeria discuss increased economic cooperation and 29 May Algerian-Libyan Economic Form | (libyaherald.com)Algeria to accelerate reopening of its borders with Libya | (libyaherald.com)High level Algerian delegation visits Tripoli | (libyaherald.com)GECOL signs wide cooperation agreement with Algeria’s Sonelgaz | (libyaherald.com)Algerian Sonelgaz electricity engineers arrive in Libya to help in generator maintenance | (libyaherald.com)Algeria’s Sonelgaz discusses electricity exports with GECOL | (libyaherald.com)Re-opening of Libya-Algeria Ghadames-Debdeb boder crossing could increase Algerian exports to Libya to US$ 20 billion (libyaherald.com)Libya and Algeria to activate existing health agreements (libyaherald.com)Libyan General Union of Chambers signs MoU with Algerian counterpart (libyaherald.com)Libya desires to strengthen and develop relations with Algeria in various fields and at all levels: PM Aldabaiba (libyaherald.com)
Source:Libya Today
May 01, 2024 09:16 UTC
Economy Minister issues decision to guarantee credit funds – move should help increase business loans and drive Libyan economy
The Tripoli based Minister of Economy and Trade, Mohamed Al-Hwej, issued a Ministerial decision yesterday approving the regulations for granting guarantees to the credit fund. The fund works to guarantee a proportion of the risks facing financial institutions operating in Libya, such as banks, to finance economically viable projects. It is hoped that the decision, reducing the exposure of banks to business loan risks, will encourage banks to take more risk in giving out loans to businesses and help motor the private sector Libyan economy. The decision coincides with Libya signing an MoU yesterday with the Islamic Development Bank Group (IsDB) to establish the National Fund for Economic Empowerment. Libya signs MoU with Islamic Development Bank to establish the National Fund for Economic Empowerment (libyaherald.com)
Source:Libya Today
May 01, 2024 02:23 UTC
IPL 2024 in Libya: Catch all live updates, scores, live streaming and commentary
IPL 2024: Latest updates and informationIPL 2024: Teams, Schedule and how to watch the game in LibyaFAQs:(You can now subscribe to our(You can now subscribe to our Economic Times WhatsApp channelExpect some humongous scores and magical bowling figures this Indian Premier League 2024 as it kicks off this March 22. Therefore, nothing is going to stop you from rooting for your favorite teams this IPL season.IPL stands for the Indian Premier League. It is a star-studded cricket tournament organised by the BCCI every year in India. Top international cricketers play in this massively followed sports league.Virat Kohli from Royal Challengers Bangalore (RCB) is the highest scorer in IPL history, amassing a total of 7000+ runs. Shikhar Dhawan and David Warner come next in the list with a massive 6000+ runs.
Source:Libya Today
March 16, 2024 20:50 UTC
Deputy HoR Speaker: Taxing dollar exchange transactions isn't right
The First Deputy Speaker of the House of Representatives (HoR), Fawzi Al-Nuwairi, announced his rejection of the decision to impose a tax on the official exchange rate, describing the decision as invalid in terms of its foundation and issuance, and unjust in its aims and results, saying he was not involved in its dangerous consequences and disastrous results. About 30 HoR members announced their rejection of the decision to impose a tax on the official exchange rate, and demanded its withdrawal. The members added in their statement that in no case can a tax be imposed except by a law issued by the HoR in full quorum. On Thursday, the HoR Speaker issued a decision to impose a tax on the official exchange rate of foreign currencies by 27% for all purposes. The CBL Governor proposed on March 05, through a letter addressed to the House of Representatives, to impose a tax on the official exchange rate by 27%, with the exception of sectors funded from the public treasury.
Source:Libya Observer
March 16, 2024 18:19 UTC
Libyan HoR Speaker passes decree imposing tax on foreign exchange rate
Ageela Saleh, the Speaker of Libya’s parliament, the House of Representatives (HoR), has approved a request from the Saddek El-Kaber, the Governor of the Central Bank of Libya (CBL), to impose a tax/fee/levy of 27 percent on the current official LD exchange rate. The new flexible rate would allow the CBL Governor to sell the US dollar at a range from LD 5.95 to LD 6.15 – depending on market conditions. The current official exchange rate is LD 4.95 per dollar. The parallel black-market rate yesterday was LD 7.26/dollar. The ‘‘decree’’ by Saleh is valid until the end of 2024 and prescribes that revenues generated from the 27 percent ‘‘fee’’ are used to cover the expenses of development projects and repay the public debt.
Source:Libya Today
March 16, 2024 16:49 UTC
Warm winter could cause trouble before the start of April
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Source:Libya Today
March 16, 2024 15:32 UTC
HoR Speaker Saleh passes ‘‘decree’’ approving CBL Governor’s 27 percent tax on official FX transactions – decree rejected as unilateral without parliament’s approval
The current official exchange rate is LD 4.95 per dollar. They, meanwhile, deem the exchange rate being within the jurisdiction of the Management of the Central Bank in accordance with Law No. Libyan banking laws/regulations prescribe that only the CBL Board can set/adjust the LD exchange rate. El-Kaber does not have that power unilaterally and any LD exchange rate adjustment by him would be deemed unlawful. Deputy HoR head calls on State Council to install Shukri as new CBL Governor (libyaherald.com)HoR elects Mohamed Al-Shukri as new CBL governor; Hibri humiliated (libyaherald.com)CBL Governor Saddek Elkaber sacked again (libyaherald.com)
Source:Libya Today
March 16, 2024 10:35 UTC
60 migrants die on trip from Libya in dinghy
The European charity’s ship Ocean Viking spotted the dinghy with 25 people on board WednesdaySurvivors rescued from the deflating rubber dinghy. Pic/APListen to this article 60 migrants die on trip from Libya in dinghy x 00:00Survivors rescued from a deflating rubber dinghy in the Mediterranean Sea have reported that some 60 people who departed Libya with them more than a week ago perished during the journey, the humanitarian rescue group SOS Mediterranee said Thursday. The European charity’s ship Ocean Viking spotted the dinghy with 25 people on board Wednesday. Migrant boat sinks off Turkey’s coastADVERTISEMENTA rubber dinghy carrying migrants sank off Turkey’s northern Aegean coast on Friday, killing at least eight people, officials said. Turkish coast guard personnel rescued two migrants from the sea off the town of Eceabat in Canakkale province, while two others reached the shore by themselves.
Source:Libya Today
March 16, 2024 06:08 UTC