Japan reopens embassy in Libya

The Japanese embassy in Libya has reopened after being closed for about eight months due to the fighting in the country, the Foreign Ministry said Monday. Ambassador to Libya Wataru Nishigahiro and his secretary are now back in Tripoli, but their work is limited to negotiations with Libya’s new governing body, the National Transitional Council, […]

Libya’s NTC names interim prime minister

Libya’s Transitional National Council (NTC) has chosen Abdurrahim El Keib as the country’s new interim prime minister to replace Mahmoud Jibril. El Keib, an electrical engineer and professor at the university of Tripoli, garnered 26 votes out of the total of 51 votes, and said that he expected to choose his cabinet ministers within two weeks. Mustafa Abdul Jalil, the […]

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 […]

Huge Obstacles Impeding Libya’s Stability

A new study has pointed to lack of political stability and security as Libya’s main hurdles on the road to post-conflict reconstruction and economic recovery. Though officially declared as “liberated”, Libya is considered an “extreme risk” country. Prior to the uprisings, Libya’s hydrocarbon industry accounted for over 95% of export earnings and between 85% and 90% […]

Under Libya: Riches More Precious Than Oil

Libya’s new government may look beyond oil, to water, as it builds a longer-term economic future for the nation’s young population. An enormous geological store of water, the Nubian Aquifer, sits below Libya, Egypt, Chad and Sudan. It may hold as much as 500 years of the Nile’s flow, most of which accumulated during the Pleistocene epoch, as […]

EgyptAir resumes flights to Benghazi on 5 November

EgyptAir will resume flights from Cairo to Benghazi on 5 November following a gap of seven months caused by Libya’s civil war, the chairman of the national carrier’s holding company said on Thursday. Chairman Masoud Al Hussein said the airline will provide four services a week — on Saturday, Monday, Tuesday and Thursday — from […]

Eni Profit Rises 7% as Higher Oil Prices Counter Lost Output

 Eni SpA, Italy’s largest oil producer, reported better-than-estimated third-quarter earnings as higher oil prices countered lower production from Libya. Adjusted net income rose 7 percent to 1.8 billion euros ($2.5 billion) from 1.7 billion euros a year earlier, the company said in a statement. That beat the 1.5 billion-euro average estimate of 15 analysts surveyed […]