Libya’s c.bank expected to have sanctions lifted

Libya’s central bank and a subsidiary are expected to have U.N. sanctions against them lifted on Friday in a move to ease a cash crunch since the country’s civil war ended, diplomats said on Wednesday. They said the Central Bank of Libya and the Libyan Foreign Bank (LFB), an offshore institution wholly owned by the […]

Lord Green Speech – Rebuilding Libya: Opportunities for British Business

This page contains the text of a speech given by Stephen Green at the Rebuilding Libya: Opportunities for British Business event on 14 December 2011, organised by UK Trade & Investment, in conjunction with Libyan-British Business Council, British Expertise and the Middle East Association. Rebuilding Libya The UK is committed to helping the Transitional Government, and any […]

Weekly Security Review

Projections Security in the capital may experience a deterioration in the lead up to the deadline for militia groups to return to their home-towns, as well as another for members of the Tripoli Brigade to give up their arms. There have already been a number of demonstrations in the capital in support of the government’s […]

Benghazi Made Libya’s Economic Capital

The Libyans are making full use of their new-found freedom after 42 years under a dictatorial regime when even the slightest protest could get you in trouble and locked into prison. It did not take tens of thousands of protestors in the eastern city of Benghazi long to organise a spontaneous demonstration to express their […]

Tribal elders broker end to fighting in Libya region

An outbreak of fighting south of the Libyan capital which killed at least four people stopped on Tuesday after local elders agreed a ceasefire, Reuters journalists in the area said. The conflict, a flare-up of an old rivalry between the provincial town of Zintan and the neighbouring El-Mashasha tribe, underlined the tension and insecurity in […]

Libyan Oil Output May Return to Previous Level by 2014, IEA Says

Libya’s crude production will return to pre-conflict levels of 1.6 million barrels a day by 2014, International Energy Agency said. “The recovery in Libyan output has exceeded expectations so far in 2011,” the Paris-based adviser said today in its monthly oil market report. Libyan output dropped to 45,000 barrels a day in August, according to […]

Libya has ‘reservations’ on Italy treaty: report

Libya said on Tuesday it has reservations about “certain points” in a 2008 treaty of friendship with former colonial power Italy, signed by the late dictator Moamer Kadhafi and former premier Silvio Berlusconi. Libya “has reservations on a certain number of points included in the accord which need to be looked at again by the […]

Libya air traffic controller strike snarls travel

Libya’s air traffic controllers staged a strike on Tuesday that affected flights in the capital and other cities, forcing one passenger plane to be diverted shortly before landing, aviation officials said. Air traffic controllers walked off their jobs on Tuesday morning because they were unhappy about the appointment of new management, an aviation source said. […]