Libya Begins Plan to Elect Assembly

Libya’s interim government posted on its Web site a draft law laying out procedures for electing a planned constitutional assembly, taking a first step toward the establishment of a new government after the overthrow of Col. Muammar el-Qaddafi. The draft law leaves the most difficult and politically delicate questions, like drawing up districts or settling […]

Libya’s al-Sedr oil port resumes operations: official

Libya’s al-Sedr oil port has resumed operations and will see the first oil shipment sail on Tuesday or earlier, an official from Waha Oil Co said, months after the terminal stopped running during a civil war that ended Muammar Gaddafi’s rule. “The port was damaged by the Gaddafi regime and the facilities are now operational,” […]

Workers at Tripoli’s decaying port go on strike

Port workers in Libya’s capital Tripoli went on strike on Sunday to demand better working conditions and government investment to fix major damage caused by war and decades of negligence. The port, Libya’s largest non-oil harbor, was damaged during the civil war that ended Muammar Gaddafi’s rule. In May, NATO sank eight Libyan warships there […]

Libya Will be Marzouki’s First Official Visit

President Moncef Marzouki announced on the day following his election that Libya will be the destination of his first official international visit. Marzouki will be traveling to Libya January 2, 2012. “He received an official invitation to visit Libya. The visit aims to show support for the Libyan Revolution and to reinforce Tunisian-Libyan relations. He will meet Libyan officials and businessmen,” said Imed […]

Libya Receives Funds, Assets Unfrozen by EU

One week after the European Union’s decision to unfreeze funds and assets belonging to the Central Bank of Libya and the Libyan Arab Foreign Bank, Libya has received 97 billion dollars. Confirmation that the money is now in the Libyan government’s hands was given by the Libyan Central Bank’s deputy governor at a press conference […]

Libya to review contracts with Italian oil major ENI

Libya on Thursday said it will review its contracts with Italy’s ENI and insisted the oil major participate in reconstructing cities destroyed by Moamer Kadhafi’s forces in the conflict. The decision to review the contracts was communicated to the Italian firm’s Chief Executive Officer Paolo Scaroni on Wednesday by Prime Minister Abdel Rahim al-Kib during […]

Libyan Islamic banking law seen in March

Libyan central bank may finalise Islamic finance regulations by March, in what would be the first major step towards introducing sharia-compliant banking in the country. The bank’s deputy governor, Ali Mohammed Salem, also told Reuters in an interview on Tuesday the exchange rate of the Libyan dinar would be fixed for up to three years, […]