Archive | Banking & Finance

Experts eye impact of Sharia law on Maltese business with Libya

It is too early to determine the implications of Libya’s plans for an Islamic banking structure for Maltese firms operating there, but they will certainly have to heighten their cultural awareness, Islamic finance expert Reuben Buttigieg told The Times Business. Declaring Libya liberated on Sunday, three days after the death of Colonel Muammar Gaddafi, transitional […]

Conoco earnings fall on Libyan instability

ConocoPhillips, the third-biggest US oil company by market capitalisation, reported a 16 per cent drop in third-quarter earnings, citing a range of factors, including suspended operations in Libya and offshore China. The company, which next year will split its exploration and production and its refining operations into two separate companies, on Wednesday reported earnings of […]

Switzerland eases sanctions on Libya

Switzerland will on Thursday unblock some frozen Libyan assets and allow the transfer of money to some state institutions, the Swiss government said on Wednesday. The move will allow the transfer of money and other assets to the Central Bank of Libya, the Libyan Investment Authority, the Libyan Foreign Bank and the Libyan Africa Investment […]

French business sees $200 billion Libyan opportunity

Rebuilding Libya could be worth at least $200 billion (125 billion pounds) over 10 years, but France’s role in ousting Muammar Gaddafi will not be enough to seal deals, the chief of France’s overseas business federation said on Wednesday. French President Nicolas Sarkozy has spearheaded military intervention in the OPEC producer and France’s top firms […]