Tag Archives | featured

Tobruk Rejects UN-backed Unity Govt

By John Lee. Libya’s internationally recognized House of Representatives (HoR) in Tobruk voted has rejected the UN-brokered Government of National Accord (GNA). According to Reuters, of 104 members attending the session, 89 voted against backing the government, and the Tunis-based Presidential Council now has 10 days to propose a new and smaller cabinet. The Special […]

Audit Bureau Freezes 100 Bank Accounts

By John Lee. The Libya Herald reports that the Tripoli-based Audit Bureau has frozen the bank accounts of 38 companies and 62 individuals suspected of ‘’currency smuggling’’ and using ‘’fake official documents’’. In October, the Audit Bureau announced a freeze on 160 individual and company accounts, including some linked to the Husni Bey Group, but the […]

LPTIC Discusses Restructuring Plan for ORICEL

The Chairman of Libyan Post, Telecommunication and Information Technology Holding Company (LPTIC), Dr. Faisel Gergab, has held a meeting with the Minister of Telecommunication and Information Technology of the Republic of Ivory Coast Mr. Koné Bruno at the headquarters of the ministry in the Ivorian capital Abidjan. This meeting comes as part of a comprehensive […]

World Bank Expects Strong Libyan Recovery

The World Bank expects the Libyan economy to recover rapidly in 2016, growing by 35.7 percent, according its flagship “Global Economic Prospects“ report released on Wednesday. This follows an estimated fall of 5.2 percent last year, and of nearly 50% over the past three years. Growth rates of 27.6 percent and 8.4 percent are predicted […]

Truck Bomb Kills Dozens

By John Lee. At least 47 people have been killed by a truck bomb targeting the al-Jahfal police training centre in Zliten, reports say. A spokesman for the Tripoli-based ministry of health told the BBC that 47 people were killed and more than 100 people were injured in the blast, which was reportedly heard 40 […]

Video: IS attacks Oil Terminal

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News. A huge fire is raging at one of the country’s biggest oil ports, after an attack by ISIL fighters. Five giant oil storage tanks at Sidra (Es Sider) have been set alight, reports Al […]

IS Threat to Sabratha UNESCO Site

Fighters loyal to the Islamic State group (IS, ISIS, ISIL, Daesh) have reportedly taken over the ancient Roman city of Sabratha in western Libya. Libyan news sources said the radical Islamist group took over the coastal city of about 100,000 people, and the ruins of the second and third century Roman city, which UNESCO recognized […]