Tag Archives | HB Group

NOC Chairman: Oil Production to reach 2.5m bpd by 2020

By Adam Nathan. Mustafa Sanalla, the colourful chairman of Libya’s National Oil Corporation (NOC), has revealed ambitious plans to increase Libya’s oil production to 2.5 million barrels of oil a day by 2020. Sanalla, also revealed plans to expand Libya’s refining capacity to 1 million barrels of oil a day and gas production to 1.3 […]

Int’l Brands Reopening in Benghazi

By John Lee. The international brands Marks and Spencer, Next, Mango and Aldo are all reopening in Benghazi. Well-known Libyan businessman Husni Bey, who owns the franchises, told the Libya Herald that the return of the outlets, which had been forced to close two years ago, had become possible because of a fall in crime and […]

Mazda Showroom Opens in Tripoli

Husni Bey’s HB Group, has opened its first Mazda car showroom today in Tripoli. Libya Herald says it is the first time in nearly 40 years that Mazda vehicles have been sold in the city. The company, which has the Mazda agency for Libya, opened its first Mazda showroom in Benghazi just before the fighting […]

Husni Bey calls for Dinar Devaluation

Libyan entrepreneur Husni Bey has said the Central Bank should devalue the dinar due to the growing trade deficit. The head of the HB Group said “To balance the budget the Libyan dinar must be devalued to a minimum of 2.0 to the US dollar,” much lower than the current exchange rate of 1.25 to […]

Looking for Cheap Stocks? Try Libya

According to a report from Reuters, investing in Libyan stocks may sound like an absurd idea, but despite the turmoil, Libya’s stock market is getting ready for the first launch of Islamic investment funds, the most prominent bourse debut since the uprising. A recent sell-off has made Libyan stocks cheaper than other regional bourses, with […]

Husny Bey Courts Italian Distributor

Libyan entrepreneur Husni Bey has told ANSAmed that his HB Group “would be interested in bringing an Italian large-scale distribution company to the Libyan market.” He has already brought French retailer Monoprix to the country through a franchise with the Tunisian Société Nouvelle Maison de la Ville de Tunis (SNMVT), which uses the Monoprix name. […]

Monoprix Opens Store in Tripoli

The first Monoprix store in Libya opened in Tripoli’s Sabaa district on Thursday, reports Libya Herald. The Tunis-based chain, which is separate from but linked to the French company of the same name, has been brought to Libya in a joint venture with Libyan businessman Husni Bey. The new food and consumer goods store, employing […]