Tag Archives | Libyan Investment Authority (LIA)

LIA approves 3-Year Extension of Chairman's Term

The Libyan Investment Authority (LIA) has announced that its Board of Trustees has approved the term extension of current Chairman Dr Ali Mahmoud Hassan Mohamed, and the Board of Directors for a further three years. During the meeting, the Board of Trustees also agreed to increase the size of the Board of Directors from five […]

EY to audit Libyan Investment Authority (LIA)

By John Lee. The Libyan Investment Authority (LIA) has reportedly appointed EY, formerly known as Ernst & Young, as its new external auditor. According to the Sovereign Wealth Fund Institute (SWFI), EY will undertake the audit of the LIA for the financial year ending 31st December 2019. More here. (Source: SWFI)

LIA concludes First Phase of Transformation Programme

Libyan Investment Authority concludes first phase of transformation programme The Libyan Investment Authority (LIA), Africa's largest sovereign wealth fund, has announced the conclusion of the first phase of its comprehensive Transformation Programme, a major strategic mechanism for institutional development. The key milestone was marked in the presence of the International Forum of Sovereign Wealth Funds […]

LIA to ask UN Permission to Invest Billions

By John Lee. The head of the Libyan Investment Authority (LIA) is reported to be planning to ask the United Nations to allow the sovereign wealth fund to invest billions of dollars. Chairman Ali Mahmoud Hassan Mohamed told Reuters: "We have billions of cash in our accounts not invested." Click here to read the full […]

UK Court Decides on LIA Chairmanship Case

By John Lee. The English Commercial Court  has reportedly ruled that Dr Mahmoud is the rightful Chairman of the Libyan Investment Authority (LIA). Several contenders had claimed the position, including Abdulmajid Breish. More here. (Source: Casemine)

New York Lobbyists to represent LIA

GerstmanSchwartz, LLP, a New York-based law practice, has announced that it will act on behalf of the Tripoli-based Libyan Investment Authority (LIA). In recently-filed Foreign Agents Registration Act (FARA) documents, the firm says that Stephen (Shai) Franklin will provide consultancy services to the LIA on its behalf. The firm is 50-percent owned by Bradley Gerstman […]

LifeCo to Restart Operations

Libya’s National Oil Corporation (NOC) has said it had restored natural gas supply to the Libya Norwegian Fertiliser Company (LifeCo). In a statement, the NOC said that factory operations are expected to restart shortly. The announcement follows discussions led by NOC’s chairman, Mustafa Sanalla, with LifeCo’s shareholders, the Libyan Investment Authority (LIA), and Norway's Yara […]

Eni, BP, NOC sign Deal to Resume Libyan Exploration

National Oil Corporation (NOC) Chairman, Mustafa Sanalla, BP Group Chief Executive, Bob Dudley, and Eni CEO, Claudio Descalzi, signed a Letter of Intent (LOI) in London today which will launch the process for Eni to acquire a 42.5% stake in BP’s Exploration and Production Sharing Agreement (EPSA) in Libya, with an aim to boost in-country […]