It is too early to determine the implications of Libya’s plans for an Islamic banking structure for Maltese firms operating there, but they will certainly have to heighten their cultural awareness, Islamic finance expert Reuben Buttigieg told The Times Business. Declaring Libya liberated on Sunday, three days after the death of Colonel Muammar Gaddafi, transitional […]
Archive | Industry & Trade
Pragmatic China goes to work in new Libya
China faces mounting challenges in its struggle to build favour and protect its business interests and infrastructure projects in Libya after being seen to be slow-moving in its support for the African oil-producing country's transitional government. Analysts say Beijing has been subtly changing its tone and tactics since the death of Colonel Muammar Gaddafi last […]
Libyan Economy to Contract More Than 50% This Year, IMF Says
Libya’s economy will contract more than 50 percent in 2011 after eight months of fighting that paralyzed its oil industry, the International Monetary Fund said. “The conflict has had a severe impact on economic activity heavily dependent on hydrocarbons,” which account for more than 70 percent of output and 95 percent of exports, the fund […]
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 […]
Tags: Central Bank of Libya, Libyan Africa Investment Portfolio, Libyan Foreign Bank, Libyan Investment Authority, Switzerland
Rush for Libya goldmine as £200bn comes up for grabs
Libya could be one of the world's biggest growth areas for UK firms, as the Government here calculated £200 billion of contracts are expected to go up for grabs there over the next 10 years. Companies in sectors ranging from oil and gas to medical equipment are now aiming to win a share of that. […]
British firms urged to 'pack suitcases' in rush for Libya business
The starting pistol for British firms to pursue contracts in Libya has been fired by the new defence secretary, Philip Hammond, who urged companies to "pack their suitcases" and head there to secure reconstruction contracts. As Nato announced that it plans to wind up operations in Libya, Hammond said that great care had been taken during the […]
French business sees $200 billion Libyan opportunity
Rebuilding Libya could be worth at least $200 billion (125 billion pounds) over 10 years, but France's role in ousting Muammar Gaddafi will not be enough to seal deals, the chief of France's overseas business federation said on Wednesday. French President Nicolas Sarkozy has spearheaded military intervention in the OPEC producer and France's top firms […]