Libya approves Islamic banking law -official

Libya has approved an Islamic banking law that will introduce sharia-compliant banking in the North African country, a member of the ruling National Transitional Council (NTC) said on Thursday. Libya has been working to amend its banking laws to attract foreign investment and stimulate its private sector following last year’s war that ousted Muammar Gaddafi, […]

Libya: Govt and FAO Renew Commitment to Develop the Country’s Agriculture and Food Security

 Libya and FAO have commited themselves to work together to develop the country’s agricultural sector and improve food security, signing a cooperation agreement at FAO headquarters. Under the agreement, Libya will provide $71 million in funding needed to develop different areas, such as plant and animal health and production, pesticide management, seed development, natural resource […]

Tame Brew

Sri Lanka, one of the world’s biggest exporters of black tea, shipped less brew during the first quarter of this year, but a weak rupee helped maintain export revenues, a report said. From January to March, the tropical island sold 75.8 million kilos of tea to overseas buyers, which was two-percent lower than 77.4 million […]

China urges international community to support Libya’s national reconstruction

A Chinese diplomat said here on Wednesday that the international community should continue to provide support and assistance for Libya’s national reconstruction. Wang Min, the Chinese deputy permanent representative to the United Nations, made the remarks at an open Security Council meeting where Chief Prosecutor of the International Criminal Court (ICC) Luis Moreno-Ocampo made a […]

Libya says oil sector won’t nationalize

The Libyan government intends to uphold agreements between foreign investors and the previous regime, an interim leader said at an oil conference in Dubai. Mustafa el-Huni, deputy chairman of the interim Transitional National Council, told potential investors in Dubai that it was business as usual in post-revolution Libya. “We have no intention to nationalize or […]

FAO inks two development agreements with Saudi Arabia, Libya

The Food and Agriculture Organisation (FAO) signed two agreements on Thursday worth a total of over USD 173 million with Saudi Arabia and Libya to bolster technical cooperation and support food security and the protection of natural resources in these nations. Saudi Arabia is to allocate USD 66.7 million to implement FAO’s technical assistance projects […]