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Libya Defence Spending to Double Oil Production Rises Parliament Dismisses Central Bank Chief Air Malta Increases Djerba Fllights
 
Libya Defence Spending to Double

Libya Defence Spending to Double

The latest edition of Libya Defence & Security Report says it expects Libya to spend $1.3bn on defence in 2014, growing to $2.6 billion by 2018. The report gives Libya an overall Security Risk Rating of 39 for Q414, believing that Libya has a high chance of becoming involved in a major interstate conflict, and a […]

Oil Production Rises

Oil Production Rises

Reuters reports that Libya’s oil production has risen to 870,000 bpd. A spokesman for the state-run National Oil Corporation (NOC) said the NOC had put output last week at 810,000 bpd. (Source: Reuters) (Oil image via Shutterstock)

Parliament Dismisses Central Bank Chief

Parliament Dismisses Central Bank Chief

The governor of the Central Bank of Libya (CBL), Saddek Omar Elkaber [al-Sadiq al-Kabir] (pictured), has reportedly been dismissed by the elected parliament on Sunday. According to a report from Reuters, he had failed to attend a session of the House of Representatives (HoR) to discuss alleged financial irregularities at the central bank. The dismissal […]

Air Malta Increases Djerba Fllights

Air Malta Increases Djerba Fllights

Air Malta has announced that it will be increasing its schedule between Malta and Djerba, in Tunisia, with an additional weekly frequency every Tuesday with effect from 16th September 2014. The Maltese airline will therefore be operating three weekly flights to/from the Tunisian city every Tuesday, Thursday and Sunday. Commenting on this announcement Joe Galea, […]

Libya Defence Spending to Double

Libya Defence Spending to Double

16 September 2014

The latest edition of Libya Defence & Security Report says it expects Libya to spend $1.3bn on defence in 2014, growing to $2.6 billion by 2018. The report gives Libya an overall Security Risk Rating of 39 for Q414, believing that Libya has a high chance of becoming involved in a major interstate conflict, and a […]

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Oil Production Rises

Oil Production Rises

16 September 2014

Reuters reports that Libya’s oil production has risen to 870,000 bpd. A spokesman for the state-run National Oil Corporation (NOC) said the NOC had put output last week at 810,000 bpd. (Source: Reuters) (Oil image via Shutterstock)

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Posted in Oil & Gas0 Comments

Parliament Dismisses Central Bank Chief

Parliament Dismisses Central Bank Chief

16 September 2014

The governor of the Central Bank of Libya (CBL), Saddek Omar Elkaber [al-Sadiq al-Kabir] (pictured), has reportedly been dismissed by the elected parliament on Sunday. According to a report from Reuters, he had failed to attend a session of the House of Representatives (HoR) to discuss alleged financial irregularities at the central bank. The dismissal […]

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Posted in Banking & Finance0 Comments

Air Malta Increases Djerba Fllights

Air Malta Increases Djerba Fllights

16 September 2014

Air Malta has announced that it will be increasing its schedule between Malta and Djerba, in Tunisia, with an additional weekly frequency every Tuesday with effect from 16th September 2014. The Maltese airline will therefore be operating three weekly flights to/from the Tunisian city every Tuesday, Thursday and Sunday. Commenting on this announcement Joe Galea, […]

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Posted in Transportation0 Comments

Cargo Imports Down 75%

Cargo Imports Down 75%

16 September 2014

Cargo imports into Libya have dropped by an estimated 75%, according to ship operators. Loris Trevisan, chief executive of Italian shipping company Med Cross Lines, told The Loadstar: “The volumes from Italy have declined some 75% during the last three months, mostly due to closure of banks in Libya.” This, he said, had resulted in […]

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Posted in Industry & Trade, Transportation0 Comments

Most Libyan Cigarettes Contraband

Most Libyan Cigarettes Contraband

16 September 2014

Up to 75 percent of cigarette sales in Libya are reported to be contraband. According to a new report — World Cigarettes Libya — total consumption is 24 billion pieces per annum, of which only 6 billion are duty paid. Smoking is widespread with just under half of adult men smoking, although only 0.8% of […]

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Lawyer Pleads Guilty to Libyan Fraud

Lawyer Pleads Guilty to Libyan Fraud

16 September 2014

A US lawyer has pleaded guilty to one count of wire fraud in relation to a project in Libya. Timothy Oliver used the ruse of a land development project in Libya to embezzle $500,000 from a Mexican construction company, ARS Tectonica. Minneapolis Star Tribune reports that Oliver devised an elaborate hoax to convince the company that […]

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Posted in Construction & Engineering, Security0 Comments

Libya Threatens to cut ties with Qatar

Libya Threatens to cut ties with Qatar

16 September 2014

Prime Minister Abdullah al-Thinni [Al-Thani, al-Thanay] (pictured) has warned that he will sever relations with Qatar if it continues interfering into Libya’s internal affairs. According to a report from Al Bawaba, the Libyan premier said on Sunday that Qatar has sent three military planes loaded with weapons and ammunition to Matiga airport in Tripoli. Qatar’s Assistant Foreign […]

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Posted in Politics, Security0 Comments

Video: UN Concerned About Libya

Video: UN Concerned About Libya

16 September 2014

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News. With two rival governments, two parliaments and numerous armed groups, Libya finds itself experiencing the worst violence since the death of Muammar Gaddafi. As the security situation worsens, migrant workers and nationals continue to […]

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Posted in Security, Videos0 Comments

Egyptians Reluctant to Leave Libya

Egyptians Reluctant to Leave Libya

16 September 2014

By Ahmad Mustafa, translated for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. The current economic crisis in Egypt has pushed thousands of simple and marginalized people to leave their country in search of the unknown in Libya, while ignoring the warnings of authorities. […]

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Posted in Employment, Security0 Comments

UN Envoy Warns Libya on Brink

UN Envoy Warns Libya on Brink

16 September 2014

The UN Special Representative of the Secretary-General and Head of UNSMIL, Bernardino León, addressed the UN Security Council on Monday, and warned that the country was on the brink of ” of protracted conflict and civil strife”. The full text of Mr León’s address is shown below: Mr. President, Esteemed Members of the Security Council, […]

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Migrant Boat Sinks: Scores Feared Drowned

16 September 2014

A Libyan Navy spokesman has said 36 people have been rescued after a vessel carrying 250 people went down near Tajoura, east of Tripoli. “There are so many dead bodies floating in the sea,” the spokesman told reporters. Reports are also emerging of another sinking, in which up to 500 people may have drowned last […]

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