Archive | Industry & Trade

Libya Open for Business

Libya has declared itself open for business. A conference in London next week will promote Libya as an investment opportunity for British business. Billed as a sequel to a similar initiative in September, the conference aims to capitalize on the expectation that the new government of Prime Minister Abdel Rahim El-Keib will be favourably disposed […]

Turks, Europeans Lead Charge On Libyan Investment

Libya may be months from a new government, but the still-infrequent international flights to Tripoli are packed with businesspeople looking to land contracts with this oil-rich North African state. The Turks and Europeans appear to be moving quickly, while the Americans seem to be several steps behind. On one recent afternoon, the plush Rixos hotel […]

Arab Spring may turn page in Egypt-Libya economic relations

Can revolutions succeed where decades-old dictatorial systems failed, and usher in stable, mutually beneficial economic relations between Egypt and Libya? The coming months may bring the answer.  Last month’s visit to Cairo by the chairman of Libya’s National Transitional Council, Mustafa Abdul Jalil, came just days after he declared his country liberated, and opened what […]

Solar and Wind Energy Projects Planned in Libya

A German led initiative envisioned building EUR 400 billion vast networks of solar and winding farms across North Africa and the Middle East to provide 15% of Europe’s electricity supply by 2050. Against this backdrop, Morocco has been chosen as the first location for the project. The Desertec Industrial Initiative, a coalition of companies including E.ON, […]

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 […]