Tag Archives | Corruption

Libya Improves Ranking in Corruption Perceptions Index

By John Lee. Transparency International has said that Libya's ranking has risen slightly in its global Corruption Perceptions Index (CPI). From a total of 180 countries, Libya came in at number 168; last year’s position was 170 out of 180 countries. This result puts it on equal ranking with Haiti, the Democratic Republic of the […]

Former SNC-Lavalin VP found Guilty

By John Lee. Former SNC-Lavalin vice-president Sami Bebawi has been found guilty of corruption in relation to contracts for the Canadian engineering company in Libya. According to Bloomberg, a jury found Bebawi (73) guilty of five charges including fraud, corruption of foreign officials, and laundering proceeds of crime. The case follows an investigation by Canadian […]

Consultations on Unified and Transparent Libyan Institutions

Consultations on Unified and Transparent Libyan Energy and Economic Institutions U.S. and Libyan officials met in Washington to discuss specific measures to increase transparency and accountability of economic and energy institutions, support unified governance of sovereign institutions, and ensure stable financing for Libya’s energy sector. Participants reaffirmed the need for all sovereign institutions, including the […]

How Libya’s Economic Structures Enrich the Militias

By Jason Pack for the Middle East Institute. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. Largely overlooked in international policymaking toward Libya’s current conflict is the role of corruption as a key driver of violence, as opposed to merely its byproduct. The high-level […]

Libya Gains one place in Transparency Ranking

By John Lee. Transparency International has said that Libya's ranking has risen one place its global Corruption Perceptions Index (CPI). From a total of 180 countries, Libya came in at number 170; last year’s position was 171 out of 180 countries. This result puts it on equal ranking with Burundi, behind countries such as Iraq […]

LifeCo Gas Supply Suspended pending Debt Payment

The National Oil Corporation (NOC) has confirmed the suspension of natural gas supply to the Libyan Norwegian Fertiliser Company (LifeCo) pending settlement of unpaid debts. In a statement, NOC said: "NOC management has attempted to resolve the issue through various consultations aimed at rooting out corruption and ensuring operational continuity at LifeCo plants. NOC has […]

Legg Mason to pay $34m to Settle Libya Bribery Case

US-based investment management firm Legg Mason is to pay more than $34 million to the Securities and Exchange Commission (SEC) to settle an investigation into the role one of its former subsidiaries played in bribing officials in Libya. Bankers for the firm paid $26.5 million in bribes between 2004 and 2010 so that Libya would […]