Archive | Industry & Trade

Uncertain Libyan prospects

Some Egyptian contracting companies perceive the current Libyan market as the lifeline that will save them from the deep economic recession. The January revolution and associated instabilities caused by a security breakdown and labour protests have taken their toll on many activities, which in turn slowed economic growth rates down. However, Egyptian companies are not […]

Exclusive: Libya vets big fuel import deals in Istanbul

Top oil majors and trading houses met Libyan oil officials in Istanbul this week for their first chance to win multi billion dollar deals to supply fuel needed to keep the new government on its feet. Libya plans to purchase nearly three million tons of gasoline alone, worth close to $3 billion at current prices. […]

Gaddafi fall cost Russia tens of blns in arms deals

Russia lost tens of billions of dollars in potential revenues from arms deals with Libyan leader Muammar Gaddafi’s fall, said the official in charge of Russia’s arms exports. Russia, the world’s No. 2 arms exporter, has frequently cited losses of $4 billion in Libyan arms contracts. “The figure of $4 billion is only nominal, the […]

French Companies with Projects Worth $27B in Libya

Mohamed Syala, the director general of Libya’s Cooperation Department of the People’s Committee for Foreign Liaison and International Cooperation, has been quoted saying that the volume of trade between Libya and France in 2010 amounted to $4 billion. The Libyan exports mainly include crude oil and petroleum products and petrochemicals. The Libyan imports from France […]

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West sees business opportunities in Libya

The guns in Libya have barely quieted, and NATO’s military assistance to the rebellion that toppled Moammar Gadhafi will not end officially until Monday. But a new invasion force is already plotting its own landing on the shores of Tripoli. Western security, construction and infrastructure companies that see profit-making opportunities receding in Iraq and Afghanistan […]

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 […]

Pragmatic China goes to work in new Libya

China faces mounting challenges in its struggle to build favour and protect its business interests and infrastructure projects in Libya after being seen to be slow-moving in its support for the African oil-producing country’s transitional government. Analysts say Beijing has been subtly changing its tone and tactics since the death of Colonel Muammar Gaddafi last […]