Investment and maritime services top agenda in Libya visit

  On the margins of the business delegation to Libya, organised by Malta Enterprise with a specific focus on the maritime and port sectors, Finance Minister Tonio Fenech Minister and Minister for Fair Competition, Small Businesses and Consumers Jason Azzopardi yesterday met Yousef Al Wehishi, Minister of Communications and Transport, Rajab Khalil, the deputy Minister […]

Tatneft 2011 Net Profit Rises 31.7% to $2.06 Bln

Tatneft, Russia’s sixth largest crude oil producer, saw 2011 net profit jump 31.7 percent year-on-year to 61.428 billion rubles ($2.06 billion) to US GAAP, the company said in a statement on Monday. Revenue rose 31.6 percent in 2011 to 615.867 billion rubles, while pre-tax profit grew 33 percent to 85.909 billion rubles. The company’s short-term […]

Jordan says Libya owes $140 mln in medical bills

Jordan’s Private Hospitals Association said today Amman is demanding Tripoli pay around 100 million dinars ($140 million) in bills for tens of thousands of Libyans hospitalized in the kingdom. “Jordan wants 100 million dinars from Libya, for treating its nationals in the country’s hospitals,” Awni Bashir, head of the association, told AFP. “Libya has paid […]

Abu Dhabi fund to take 2 seats on UniCredit board

Abu Dhabi investment vehicle Aabar, UniCredit’s biggest single shareholder, will have two seats in the Italian bank’s new, slimmed-down board, according to a list of board nominees presented on Monday. The new board will have 19 members, down from 23. Aabar, which has a 6.5 percent stake in UniCredit, said its chairman, Kadem Abdulla al-Qubaisi, […]

Libya on Recovery Path but Faces Long Rebuilding Effort

  Libya faces urgent, costly task of rebuilding its economy Improved institutions, management of resources to help unleash potential IMF remains committed to helping Libya through capacity building Libyan oil production has recovered faster than expected following the overthrow of Muammar Gaddafi, but the country faces the challenges of building modern institutions, repairing infrastructure, and […]

Libyan oil exports to total 1.29 million bpd in May

Libyan crude oil exports are expected to amount to 40 million barrels in May, or 1.29 million barrels per day (bpd), a senior official at Libya’s state-owned National Oil Corporation (NOC) said. NOC plans to sell 30 million barrels, while firms that receive oil for investing in Libyan production are expected to take 10 million […]