A Libyan domestic investment fund with estimated assets of $1 billion could direct some of its investments abroad, especially to neighbouring Tunisia, the chief executive of the National Investment Company said. "Although the fund is focused on domestic investment, our laws allow for foreign investment," Basheer Ashour told Reuters over the telephone from Tripoli. "We […]
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UAE construction companies will wait until a new government fills the legal vacuum in war-torn Libya before jumping on the bandwagon of rebuilding. Worries about uncertain investment laws, local partnerships, corporate governance and the fate of business deals made with the former regime are forcing construction companies to take a more cautious approach to the […]
Libya will do all it can to protect its 75 percent stake in Zamtel, the fixed-line telecoms firm in Zambia, whose government announced plans last week to seize Libya's stake in the firm, Libyan Foreign Minister Ashour bin Khayyal said Monday. "The Zambian government has taken a unilateral action by nationalizing this company," Khayyal said, […]
Libya's new government is still taking stock of extensive investments made in Africa by the former regime of Muammar Gaddafi before deciding on what it should do next. Mohammed Abdul Aziz, Libya's deputy foreign minister, admitted on Thursday that the National Transitional Council (NTC) does not yet know the exact extent of Libyan investments on […]
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 […]
The Libyan Investment Authority (LIA) released detailed figures on its investments in efforts to be transparent. Libya’s sovereign wealth fund, managed by the LIA, was created in 2006 to manage Libya’s oil revenues and there is speculation that the fund will sell off its assets in parts of Africa to help finance Libya’s reconstruction.