Tag Archives | Libyan Investment Authority

Libyan wealth fund to appeal against asset seizure in Italy

Libya's sovereign fund said on Thursday it would appeal to recover around 1.1 billion euros of assets, including stakes in top Italian companies, that were seized in Italy last month at the request of the International Criminal Court. Italian financial police had seized the assets saying they belonged to members of the Gaddafi family, but the […]

Abu Dhabi fund to take 2 seats on UniCredit board

Abu Dhabi investment vehicle Aabar, UniCredit's biggest single shareholder, will have two seats in the Italian bank's new, slimmed-down board, according to a list of board nominees presented on Monday. The new board will have 19 members, down from 23. Aabar, which has a 6.5 percent stake in UniCredit, said its chairman, Kadem Abdulla al-Qubaisi, […]

Libya in talks with IFC exec to head fund: sources

Libya's government is in talks with International Finance Corporation executive Ahmed Ali Attiga to appoint him as head of its sovereign wealth fund, sources told Reuters. The Libyan Investment Authority, which owns stakes in Italian bank UniCredit and British publisher Pearson, has been headless since last year after the exit of Mohammed Layas, who was […]

Libya approves appointment of SWF board of trustees

Libya's interim government has approved the appointment of a board of trustees for the $65 billion Libyan Investment Authority (LIA), the state news agency reported on Wednesday, paving the way for appointing new management for the fund. "The cabinet approved the appointment of the board of trustees of the Libyan Authority," the agency said, without […]

Libya NTC says to review investments worldwide

Libya will review its investments in the Arab world, Africa, and elsewhere, and it will make major agricultural and property investments in neighboring Sudan, the chairman of its ruling National Transitional Council said Saturday. "We have a general view to review all investments in the Arab world, the African continent and elsewhere," Mustafa Abdul Jalil […]

Libya’s sovereign wealth fund

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.

Switzerland eases sanctions on Libya

Switzerland will on Thursday unblock some frozen Libyan assets and allow the transfer of money to some state institutions, the Swiss government said on Wednesday. The move will allow the transfer of money and other assets to the Central Bank of Libya, the Libyan Investment Authority, the Libyan Foreign Bank and the Libyan Africa Investment […]