PHL alert level in Libya lowered from "4" to "2"

The Department of Foreign Affairs (DFA) said on Tuesday President Benigno Simeon Aquino III approved its recommendation to lower the alert level in Libya from "4" (evacuation/mandatory repatriation) to "2" (restriction phase).   “This lowering of the alert level means the redeployment of returning overseas Filipino workers (OFWs) to Libya, as well as allowing Filipinos […]

Indonesia's Medco secures approval for Libya well construction

Indonesia's Medco Energy signed a commercial agreement with Libya Investment Authority (LIA) for its Area 47 field in Ghadames basin, Libya, the oil producer said on Monday. It will start the development stage of the production facility in 2012, construction in 2012 and it is entitled to $374.3 million in cost recovery funds, it said […]

U.N. lifts Libya sanctions

Last Friday, the UN Security Council voted to remove sanctions it imposed against the Libyan Central Bank and against the Libyan Foreign Bank, a Central Bank-owned offshore institution, in support of the protests against Col. Muammar Gadhafi.  The value of frozen Libyan assets is estimated at $150 billion.  Previously only $18 billion had been released, of which […]

Libya Seeks to Buy Electronic Ankle Monitor Bracelets, Bild Says

Libya’s transitional government is seeking to buy electronic ankle monitor bracelets in Germany to aid in law enforcement, Bild reported, citing an internal German Foreign Ministry document. The Foreign Ministry views the request, made in the fall to the German Embassy in Tripoli, as a way to enter the Libyan market, the newspaper said today. […]

Libya rejects reports of Israeli ties

Libyan Minister of Foreign Affairs Ashour Bin Khayal has said his country will not allow the Israeli regime to open an embassy in the capital Tripoli. Rejecting recent reports over establishing an Israeli embassy in Libya, Ashour Bin Khayal on Saturday described the reports as sheer lies. Last week, Israeli-based daily Haaretz reported that the […]

Unfreezing money: some action

 The UN sanctions committee has lifted sanctions from the Central Bank of Libya and the Libyan Foreign Bank. In a statement on 16 December William Hague welcomed the decision and said that Libya would now have access to the funds needed to rebuild the country, underpin stability, and go about the business of everyday life. […]

Profile: Libyan fighter eyes return to business

Twenty-one year-old Khaled Abd al-Khalq likes to think the new Libya will be fairer than the old one. "Before, especially in construction, the businessmen with connections to the people around Gaddafi dominated the industry and made sure they had the biggest share of the cake," Abd al-Khalq said. "Now the country is changing. We hope […]