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Construction News

Construction News
Released:  23/04/20122012-04-23
Word count:  204

Under the authority and support of the Libyan National Transition Council (LNTC), Tripoli hosts the Infrastructure Libya 2012 conference between 23rd and 26th of April.

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Mina Monir
According to the organizers, the Libyan authorities are calling on the international export community to bring much needed expertise and technology to the market across a broad range of sectors, not least: building & construction public works & municipal engineering power & electricity transport & communications water & environment safety & security. The conference is run in parallel with exhibition programmes for companies that are interested to share in the rebuilding of the Libyan infrastructure and energy sector. According to the official website, the aim of the trade exhibitions is to bring to the market much needed expertise and technology across a broad range of sectors from the international export community, to meet the LNTC’s immediate priorities in rebuilding Libya’s infrastructure and energy sectors which have been neglected in recent years and which suffered during the conflict. Exhibitors will be international producers and suppliers of equipment, materials, products, technology, consultancy services, management capability and financial expertise appropriate for Libya’s reconstruction and future development plans. They will be drawn from Europe, North America, the MENA region and Asia through a comprehensive exhibitor promotion programme aimed at foreign governments, government export agencies, trade associations and industry. Libyan companies, both manufacturers and import agencies, will also be encouraged to exhibit.
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Oil & Gas News

Oil & Gas News
Released:  23/04/20122012-04-23
Word count:  241

In a conference held in Tripoli on Monday, the Libyan Oil Minister Abdul Rahman Ben Yazza stated that Libyan oil production has increased to about 1.5 million barrels per day (bpd) and that Libya hopes to reach the pre-conflict levels of production by mid-year.

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Mina Monir
"We have reached 85 percent (of pre-conflict levels)," Ben Yazza said. "We hope to reach our target by the middle of this year." According to Reuters, Libya reached the level of 1.6 million bpd before last year’s uprising, which means that the level of production in Libya now is very close to that. Ben Yazza’s statements were released during the Oil & Gas Libya 2012 conference held in Tripoli between 23rd and 26th of April. The conference will allow the Libyan authorities to set out their priorities and requirements for the country’s energy sector, and for suppliers of technology and services to recommend solutions. The conference is likely to focus on human capacity building, future technologies, reserves management and protection of the environment. According the organizers who are authorized by the Libyan National Transition Council, The recent freeing up of US$100 billion of Libya’s previously frozen assets will immediately contribute to the country’s energy redevelopment plans. The highest level of support will be encouraged from private and public sector planners, specifiers and procurement officials both as visitors to the exhibition and delegates to the conference. The Oil & Gas Libya 2012 Exhibition focuses on petroleum industry technology, reflecting the importance of this vital sector to Libya’s economy. The exhibition brings together oil exploration, production, service and supply companies from the world’s leading oil technology export nations including the UK, USA, France, Canada, Japan, Netherlands and Turkey and many other nations.
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News Releases

News Releases Trade Missions Business News
Released:  20/04/20122012-04-20
Word count:  148

The Libyan British Business Council (LBBC) concluded a successful visit to Libya from 15 to 19 April.

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Mina Monir
The delegation included 17 companies from different sectors and industries that are interested in undertaking projects in Libya. According to the Libya Herald, the delegation head, Lord Tefgarne, stated that “we look forward to doing business in the new Libya on a level playing field where UK firms can compete successfully on the basis of the acknowledged quality and value for money of their goods and services without the arbitrary, unpredictable and self-serving distortions which characterized the previous regime”. He went on to underline that, “we look forward to working with our Libyan partners to help grow Libya’s economy and prosperity through trade, investment and the transfer of knowledge and skills to the young Libyans involved”. The visit comes after Libya restored the Benghazi free-trade zone and provided new legislation to protect the rights of foreign investors. The new measures are expected to encourage foreign investment in Libya.
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Released:  20/04/20122012-04-20

Al Jazeera eng. TV, April 6, 2012

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Mina Monir
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Released:  19/04/20122012-04-19
Word count:  137

In a visit to Abu Dhabi on Tuesday, the Libyan Minister of Economy Ahmed al-Koshli declared that Libya is setting up a new law that protects foreign investors in Libya and provides them with electronic business services.

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Mina Monir
Mr. al- Koshli referred to the good investment law (no. 9), which was praised by the International Bank. Al- Koshli’s visit to the UAE was planned to benefit from the Emirates’ significant experience in investment legislations and facilitations. The UAE officials offered their technical and legislative advice in issuing licenses, attracting investments and enhancing the regulations of non-oil sectors. Al-Koshli stated that Libya receives new investment offers on a daily basis, which has prompted the release of the new set of laws that protects the rights of foreign investors on Libyan soil. The Minister’s visit to UAE comes also to support the good economic ties between the two countries. According to the UAE chamber of commerce, there are 12 UAE companies that operate in the fields of the oil industry, real estate investments and finance in Libya.
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Released:  19/04/20122012-04-19

Libya has requested the handover of Muammar Gaddafi's intelligence chief after his capture in Mauritania. Al Jazeera's Nicole Johnston reports from Tripoli.

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Mina Monir
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Released:  18/04/20122012-04-18
Word count:  178

A Libyan delegation has offered a bundle of 3 billion dollar projects to be implemented by Egyptian companies during the coming two months. The offers were made during the Libyan contribution to the Cairo Metal Industries conference.

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Mina Monir
Libya was presented in the conference by 140 companies with brand new projects in the sector of infrastructure and real estats. Mohammed Naser, the head of the projects sector in the Ministry of Defence, stated that the Libyan delegation aims to import the necessary building materials for the Libyan infrastructure. Mr. Naser expressed that step in the light of the agreements made between Egypt and Libya to enhance the industrial and economic cooperation between the two neighbouring countries. Naser also stated that the Libyan investments in Egypt will continue. Yet, it will be subject to careful study since most of these investments were owned by Qaddafi’s family. Bashir Shtewy, a member of the Libyan delegation, stated that they seek cooperation with Egyptian companies to import machines and backups that are necessary for Libyan factories. Mukhtar Hussein, the head of al-Amal Contracting and Estate Investment company, reported that his company is willing to establish an economic alliance with a large contracting company in Egypt for new projects that will be declared in the beginning of the coming financial year.
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News Releases Political News
Released:  18/04/20122012-04-18

Even when Libya's economy begins to recover with an oil industry which is resuming its production levels. The population can't see reflected this boom on their pocketbooks, by contrast, they have to resist the loss of government support and the high cost of living. teleSUR

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Mina Monir
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Released:  17/04/20122012-04-17

Meeting with four women, during the Progressive agenda for a new Arab world, Tunis, March 30th 2012: Rowyda Omar (Democratic Transition EDA, Egypt) Farida Elallagi (National Consortium of Libyan women) Amal Al Yusuf (Al Wefaq Political Society, Bahrein) Samira Qasem Al-Fuhidy (Yamaniya newspaper Equal Citizenship, Yemen)

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Mina Monir
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News Releases Financial News
Released:  17/04/20122012-04-17
Word count:  246

Libya’s Bank of Commerce and Development (BCD) has agreed to sell a 49 percent stake in itself to the Qatar National Bank (QNB) for an undisclosed amount. The decision was made by BCD shareholders at an extraordinary general meeting held in Benghazi yesterday.

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Mina Monir
BCD chairman Jamal Abdelmalek said the agreement would result in an increase in the bank’s capital, which will support its financial position and its ability to expand in the Libyan market. Besides an unrevealed capital injection, QNB will be providing administrative support.



Ali Shareef Al-Emadi, QNB Group CEO said the deal was in line with the company’s strategic plan of international expansion in selected and promising markets, of which Libya was clearly one.

“The QNB group looks forward to increasing fields in the Libyan market which is anticipated to record healthy growth rates, paving the way for a wide range of banking services in partnership with the BCD.”

Privately-owned BCD was set up in 1993 but did not begin operations until June 1996. Headquartered in Benghazi, it now has 32 branches throughout the country with 820 staff a network 82 ATMs.

QNB’s first foray into North Africa was the representative office it opened in Tripoli in 1996. It has offered banking facilities to major Libyan corporate and financial institutions, promoting in particular operations to Europe using the QNB branches in Paris and London.

QNB has branches, subsidiaries or associate institutions in 25 countries. It employs some 7,000 staff, supplying an array of global standard banking services through 335 outlets with an ATM network of more than 650 machines. QNB has been a regular winner of international awards, including the leading bank in the Middle East and North Africa (MENA) and most recently among the top 50 safest banks in the world. [Source: Libya Herald]
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Released:  16/04/20122012-04-16
Word count:  281

Serious steps have been taken by the newly elected Russian President Vladimir Putin and the Libyan National Transition Council to restore the Russian-Libyan economic cooperation.

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Mina Monir
In an answer to parliamentary questions, Mr. Putin stated that he received “signals” from the Libyan government that they wish restore the economic ties. Putin showed that the Russian government is willing to respond positively to these signals. The Russian – Libyan economic ties were well established during Qaddafi’s time, in the oil industry and crops, particularly wheat. According to the Libyan Herald, officials in Moscow have estimated that the country has faced losses in excess of $4 billion on contracts made with the Qaddafi regime. These are principally in connection with weapons supplies and railroad construction, as well as oil and gas investments. Russian-Libyan relations suffered severe disruptions due to the political developments in Libya. Russia’s reluctance to support the NATO’s operation in Libya caused problems in the relations between the post-Qaddafi Libya and the Kremlin. Furthermore, the successful attack on the Russian embassy in Tripoli by Libyan and Syrian rebels in February of this year increased the tensions between the two countries. However, Putin expressed his interest to re-establish economic relations in a different way. “I have no doubts,” he said, ”that we will move to new forms, new horizons and new levels of cooperation.”

He added that, in his view, the best way to achieve this was to develop Russia’s own economy, so that cooperation with Russia became “attractive” and did not depend on “regime changes in any countries.” According to Bloomberg, Libya bought 50,000 metric tons of Russian-grown wheat on international markets, Paris-based farm adviser Agritel reported on its website today, without saying where it got the information. It is expected that new contracts in the energy sector will be signed soon between the two countries.
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Released:  16/04/20122012-04-16

The breakdown in order following Libya's revolution has led to a rise in illegal immigration. Now, some former rebels are volunteering to guard unmanned border posts.

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Mina Monir
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News Releases

News Releases Political News Business News
Released:  13/04/20122012-04-13
Word count:  164

Rajab Khalil, an official at the Ministry of Economics, has confirmed that the Libyan government and the Benghazi local authorities are willing to reactivate the free-trade zone in the second capital of Libya.

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Mina Monir
According to Khalil, the project will be established on 1200 hectares and will provide about 40 thousand job opportunities, as well as supporting the Benghazi trade areas. Mr. Khalil underlined the promising outcome of the project and the challenge of actualizing it. That is, finding funds for such grand project. To overcome this challenge, the Ministry of Economy and the Libyan Chamber of Commerce will discuss launching several exhibitions and meetings with international delegations to fund the project that will be called Meresa Free Trade Zone. Benghazi, the epicenter of the February 17 Revolution, had been subject to systematic disinvestment by the Qaddafi regime over a period of decades due to its persistent unwillingness to kowtow to his rule. It is therefore seen as no surprise that the present authorities, despite the semi-official moratorium on long-term infrastructure projects, are considering the possibility of prioritizing the Meresa Free Zone project, in the hope that it might relieve some of the underlying local tensions, as The Libya Herald explains.
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Northwestern University in Qatar hosted members of Libya's National Transitional Council and other leaders of Libyan society in a "good offices" conference, to help fundamentally re-envision a media system for Libya. Learn more at mediavisionlibya.northwestern.edu

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Mina Monir
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Released:  12/04/20122012-04-12
Word count:  270

The National Transitional Council of Libya (NTC) has declared it is adopting the proposed e-Libya initiative to enhance e-learning, commerce and the flow of information.

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Mina Monir
The NTC had already expressed interest in crafting an “e-Libya” programme – a national policy to accelerate commerce, e-learning, online government services, and the expansion of wireless and Internet connectivity, according to WND economic magazine. The United States Trade and Development Agency (USTDA ) is willing to provide an Information and Communications Technology sector in its business commission to Libya to help actualise the e-Libya initiative. According to WND, two American companies have already expressed their interest in commissioning these projects. According to USTDA, the date for the submission of proposals will be April 20. The e-Libya initiative faces some challenges such as the need to provide a reliable infrastructure. There is a need to undertake grand projects in the electricity sector to provide a stabilized electric current. Libya has commissioned Italian companies to restore the internet cable that connects it with Europe through Italy, which will provide high capacity broadband that could provide fast internet services. According to O-Africa, Libya undeniably has better fixed and mobile infrastructure than most African nations. Despite one Internet service provider and only two mobile operators (nine telecoms operators in total), Libya boasts high Internet and mobile access rates (15% Internet penetration rate and a staggering 201% mobile penetration rate) The US-Libya Business Association declared that US official delegations will arrive in Tripoli between April 21-25 and in Benghazi between April 26-28 to discuss implementing different business projects and offer the proposals they received from American companies including the ones related to e-Libya initiative. Among these companies, are some large names such as ExxonMobil, Hill International, Motoral Solutions and General Electric as well as A-T Solutions and Working Buildings.
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Northwestern University in Qatar hosted members of Libya's National Transitional Council and other leaders of Libyan society in a "good offices" conference, to help fundamentally re-envision a media system for Libya. Learn more at mediavisionlibya.northwestern.edu

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Mina Monir
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Released:  11/04/20122012-04-11
Word count:  218

President Obama’s administration is showing great interest in rebuilding American business in Libya. The administration has proposed sending contractors to assess US investment prospects.

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Mina Monir
According to WND, Obama commissioned four separate “definitional missions” (DM) to carry out work in Libya on behalf of the US Trade & Development Agency (USTDA). According to routine research conducted by WND, USTDA has issued requests for proposals from contractors capable of identifying and evaluating the industry projects that Libya’s National Transitional Council is proposing. USTDA is targeting four Libyan industrial sectors: 1) Oil and Gas 2) Power Generation 3) Transportation 4) Information and Communications Technology. “A significant number of energy-focused U.S. firms have indicated their interest in working in Libya,” says the Scope of Work (SOW) Guide governing the Oil and Gas. The SOW Guide further states that, “Many of whom have provided capability statements to the Commercial Attaché at the U.S. Embassy in Libya and are looking for business opportunities to engage in the Libya market.” The only difference is a reference to utilizing U.S. companies to rebuild the country’s “traditional power generation infrastructure” and to develop “new renewable power generation capacity.” Equally critical to Libya’s economic growth will be the “rebuilding of its vital transportation sector,” USTDA says. The agency will therefore fund a DM to assess that industry segment. Particular emphasis will be placed on the Libyan air transport sector, “as it facilitates both its urban and petroleum industries,” as WND explains.
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Released:  11/04/20122012-04-11

Libya's oil industry has reached its pre-revolution levels again

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Mina Monir
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Released:  10/04/20122012-04-10
Word count:  312

The last few days witnessed considerable progress in Libyan-Maltese business relations. The negotiations between the two neighbouring countries resulted in Malta’s announcement that it will restore a daily flight service to and from Tripoli.

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Mina Monir
. “Over the last months, since the re-start of the services to Tripoli on November 28, we’ve registered a steady increase in passenger demand. This summer we expect to carry around 30,000 passengers to and from Tripoli”, said Peter Davies, Air Malta’s Chief Executive, in a press statement. This comes during the negotiations between the two authorities over new oil purchases. The Maltese Finance Minister Mr Tonio Fenech emphasised that discussions were still in their early stages, but the Libyan transitional government was showing strong signs of goodwill to strike a deal, according to Times of Malta. According to the National Transitional Council website, the Libyan Undersecretary at the Ministry of Oil and Gas, Umar Shakmak, suggested during a joint meeting that a Maltese technical team be appointed to discuss the matter with specialists from the National Oil Corporation. The discussions also come amid the problematic rise of oil costs. Mr Fenech insisted the government was absorbing some 30 to 40 per cent of the additional cost of the current electricity tariffs. “It would be an economic catastrophe if we charged consumers for the actual price of oil. We are waiting and hoping that the Iran situation calms down so we can hedge at a favourable price,” he said. The government was “seriously looking” at using gas alternatives but the investment to set up the necessary infrastructure was massive, Mr Fenech said. The cost of building a pipeline to Europe would only be viable if the EU offered to part-finance it. This is being discussed in the context of the post 2013 EU financial perspectives currently being negotiated. “In any case, a gas pipeline cannot be made available within at least three years, requiring also a source of gas that is secured, and that is the aim of such discussions,” said Mr Fenech, rejecting the Labour Party’s claims that Malta should immediately switch to gas.
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News Releases Oil & Gas News Business News
Released:  10/04/20122012-04-10

Oil and gas production in Libya are returning to pre-revolution levels. Many of its platforms were abandoned during the conflict. And getting them back on track was a priority for the interim government. Omar Al Saleh reports.

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Find out what contracts are on offer in Libya
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