Tag: Libya
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Libya: A Dispute for Africa’s Largest Foreign-exchange Reserves
Amid the chaos of Libya’s long-sputtering civil war, the central bank in Tripoli, the capital, has stood strong. Its red-and-white striped façade, crowned with two turquoise cupolas, a throwback to the days of Italian colonisation, were unscathed. Sadiq al-Kabir, the bank’s governor appointed after Muammar Qaddafi was toppled in 2011, survived two civil wars and…
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Three Libyan oil fields receive instructions to resume production, engineers say
Libya’s Sarir, Messla and Nafoura oilfields have received instructions to resume production, engineers at the three fields told Reuters on Saturday, after a standoff between rival political factions shut most of the country’s oilfields. The resumption order was made by the fields’ operator, the Arabian Gulf Oil Company, which did not provide any reasons, according…
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Central Bank officials flee Libya
The head of the Central Bank of Libya, Sadiq al-Kabir, and other senior officials left the country to save their lives and those of their families. The militias threaten and terrorize bank employees, and sometimes kidnap children and relatives to force them to go to work,” al-Kabeer said.
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Libya, Morocco, and Seychelles lead Africa in ICT development
Libya leads the continent with an impressive ICT development index score of 88.1, followed closely by Morocco with a score of 86.8 and Seychelles at 84.7, media reported, citing a recent report by Statisense. The report evaluates nations based on their Information and Communication Technology (ICT) infrastructure, accessibility, and usage. Other strong performers include Mauritius,…
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The UN mission in Libya, UNSMIL, has expressed concern “over reports of the mobilisation of forces in Tripoli
Since the Libyan Central Bank, based in Tripoli, is the only internationally recognized bank that benefits from oil exports, the parallel government in the east of the country depends on cooperation to export oil from the rich basins of the Gulf of Sirtre. Due to the current political tensions between Tripoli and Benghazi, in the…
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Libya’s powerful central bank governor sacked
One of Libya’s dueling authorities unilaterally fired the country’s powerful central bank governor in an abrupt move that is likely to inflame tensions in the divided North African country. The presidential council in the capital of Tripoli, which is allied with the government of Prime Minister Abdul Hamid Dbeibah that controls western Libya, removed Gov.…
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Libya’s central bank suspends operations after kidnapping of official
Libya’s Tripoli-based central bank said on Sunday it would shut down all operations and not resume work until a senior bank official kidnapped earlier in the day was released. The central bank is the only internationally recognised depository for Libyan oil revenues, a vital economic income for a country torn for years between two rival…
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Algerian Foreign Ministry expresses concern over military activity in southwestern Libya
The Algerian Foreign Ministry expressed concern over military activity in southwestern Libya, calling on all parties to act with restraint and prudence. The ministry said Algeria shared the UN’s concerns about the military actions in the southwest of the country. Earlier, the United Nations Support Mission in Libya said it condemned the armed clashes that…
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Local protesters partially shut down Libya’s Sharara oil field, field engineers say
Local protesters have partially shut down Libya’s Sharara oil field, according to two field engineers. The Sharara field, one of Libya’s largest production areas with a capacity of about 300,000 barrels per day, has been a frequent target for several political reasons and demands by local protesters. The field is located in Murzuq basin in…
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