Tag Archives | Husni Bey

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 […]

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 […]

Audit Bureau Freezes Bank Accounts

The Tripoli-based Libyan Audit Bureau has frozen the bank accounts of 160 companies and individuals. According to a report from Libya Herald, they are accused of smuggling foreign currency, falsifying official documents and evading customs duties, and in addition to having their existing accounts frozen, they are prohibited from opening new bank accounts without the […]

Tripoli Bans Imports to Halt Dinar Decline

Libya’s Tripoli-basesd government has banned the import of 32 goods for six months, according to a report from Reuters. The ban includes cars, carpets, construction materials such as cement, fruit juices, energy drinks and harissa, a hot pepper paste. But the ban was intended to halt the decline of the dinar,  which is now trading […]

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 […]