Oil Trades Near Nine-Month High on Iran Tension

Oil traded near the highest price in nine months after euro-area finance ministers agreed on a second bailout for Greece, improving prospects for fuel demand. Futures in New York advanced as much as 2.1 percent from Feb. 17. There was neither floor trading nor a closing price yesterday in the U.S. because of the Presidents’ […]

Opportunities for textile, cement, rice in Libya

There exists massive potential for the export of textile products, cement and rice to Libya. However, this potential remains unrealized as of now, but must be explored in view of the changed political setup in Libya. This was conveyed to Syed Ayaz Hussain, Pakistan’s Ambassador-Designate to Libya (who will be taking up office shortly in […]

Libya buys feed wheat, barley from Ukraine

Libya’s state grain buying agency has purchased 25,000 tonnes of feed wheat and 25,000 tonnes of feed barley from Ukraine in a tender which closed earlier in February, European traders said on Monday. About 15,000 tonnes of soymeal also included in the tender was purchased from Argentina, traders said. A tender for the same volume […]

Dubai Chamber to launch Libya investment forum in May

The Dubai Chamber of Commerce and Industry is organising a Libya Strategic Investment Forum to be held in Dubai on May 7. The announcement came on the heels of a Dubai Chamber delegation’s participation in the recent TEDx Tripoli conference held in the Libyan capital which saw a large turnout of business leaders, decision makers […]

Libya leads rise in demand as GCC consumes 30%

Libya is emerging as a favourite destination for Brazilian beef and poultry after a sharp rise in demand since the revolution, but sanctions on Iran remain a concern, producers in Brazil say. In 2011, Brazil’s exports of meat to the Arab world reached $3.55 billion (Dh13.03 billion), a 9.89 per cent increase over 2010, according […]

MENA investment in oil to rise 11% in 2012

Middle East and North Africa (MENA) region spending on oil investment is forecast to increase 11 percent in 2012, industry analysts said, with the number of oil rigs expected to grow 14 percent as “a tremendous amount of exploration and development activity” in the region needs to go ahead. The just published “Oil & Gas: […]