Libya and Italy launch first joint company to export fish to Europe

An Italian-Libyan joint venture has been established to export seafood from Libya to European markets, Italian businessman Nicholas Giacalone has announced. In remarks to the Italian news agency Nova, Giacalone said the new company, named...

International business briefs: Eni unit resumes drilling off Libya

Bengaluruu — AI chip start-up Cerebras Systems, which competes with industry leader Nvidia in the booming AI chip market, on Friday filed to withdraw its plans for an initial public offering (IPO) in the US, effective immediately. Its withdrawal...

Italy’s Eni resumes drilling in offshore area northwest of Libya after five year hiatus

TRIPOLI: The North African branch of Italian energy company Eni has resumed its exploration drilling in an offshore area northwest of Libya after a five-year hiatus, the Libyan state-run National Oil Corporation (NOC) said on Sunday. In 2024, Eni...

The Mercenary Economy: How War Became a Business

Once the stuff of medieval battlefields and Renaissance city-states, the mercenary economy has reinvented itself for the modern era. What used to be roaming bands of sword-for-hire warriors are now sleekly branded Private Military Companies (PMCs)...

Can municipal polls help break Libya's political deadlock?

Elections in post-Gaddafi Libya have always been fraught, beginning with the first national balloting in July 2012—nearly a year and a half after the initial uprisings that toppled the long-time leader. At the time, the idea of holding national...

The National Development Agency discusses establishing the largest olive farm in Libya in the city of Sirte

Sirte – The Director General of the National Development Agency, Mahmud Elforjani, discussed on Saturday with the Chairman of the Management Committee of the Great Man-Made River Water Investment Authority in the Central Region, Engineer Shuaib...

Benghazi Chamber holds meeting with Cagliari-Oristano Chamber of Commerce

Benghazi Chamber of Commerce announced last Wednesday (1 October) that on the sidelines of the MedaCity 2025 Forum, its Chairman, Munim Al-Saiti, accompanied by Ramadan Tawfiq Boubtana, its Director of the International Relations Department, held...

Libyan Stock Market index declines 1.70% at the end of Thursday’s trading

Tripoli – The Libyan stock market witnessed a decline in its performance during Thursday’s session, as the general index fell by 1.70% to close at 1,073.51 points, compared to 1,092.11 points at the opening, recording a loss of 18.60 points....

Dollar exchange rate falls to Libyan Dinar in black-market four days after end of deadline for withdrawal of old LD 5 and LD 20 notes

The US dollar foreign exchange (FX) rate fell to Libyan Dinar 6.94/dollar in Tripoli’s black-market today, four days after end of the 30 September deadline for the withdrawal from circulation of the older LD 5 and LD 20 notes. This is the lowest...

Jumhouria Bank to open 6-ATM state-of-the-art cash withdrawal facility in the southern region

State owned Jumhouria Bank, Libya’s biggest bank, announced yesterday the imminent opening of a self-service cash withdrawal facility in the southern region. The facility will feature six ‘‘state-of-the-art ATMs’’. The bank says this initiative...

Indonesia seeks strategic partnership with Libya

Indonesian President Prabowo Subianto has expressed his desire to establish a strategic partnership with Libya through the development of bilateral relations across various economic, political, and cultural sectors, in a way that serves mutual...

Central Bank reveals new plan to solve liquidity crisis

The Governor of the Central Bank of Libya, Naji Issa has revealed a “solid” action plan to address the country's liquidity crisis. In statements to Sada Al-Iqtisadiah newspaper, the governor explained that the Central Bank of Libya possesses a...

Libyan-Italian Fishery Project: A Fish Processing Plant in Misrata and Export to Europe

The Italian agency “Nova” conducted an interview with Nicholas Giacalone, director of the “Medina” company, about the launch of the first fishery partnership project with Libya. The project aims to export fish to European markets with the support...

Tunisian-Libyan trade corridor to sub-Saharan Africa… operation expected in 2029

An economic report by “African Manager” has described Libya and Tunisia as “gateways to Africa” for their collaboration on establishing a strategic project for the region. It quoted Tunisian expert in growth and internationalization strategies,...

Libyan Financing Trial: All Convicted Defendants and the Libyan State File Appeals

Like former president Nicolas Sarkozy, all seven defendants convicted in the case of alleged Libyan financing of his 2007 presidential campaign have lodged appeals, along with the National Financial Prosecutor’s Office (PNF), a judicial source and...

Libyan Industry Union signs MoU with Maghreb Bank for Investment and Foreign Trade BMICE to expand financing opportunities for Libyan industry

The Libyan Industry Union signed a memorandum of cooperation on 26 September with the Maghreb Bank for Investment and Foreign Trade (BMICE) in Tunisia, under the auspices of the Ministry of Economy and Trade and the Libyan Embassy. The agreement...

Med market? Europe eyes closer trade with North Africa

The ancient Romans called the Mediterranean Sea ‘Mare Nostrum’, meaning ‘Our Sea’, because the Roman empire had territorial control over the entire body of water, across both north and south shores. The idea of economic integration between the two...

Libya–Serbia economic forum to be held in December

The Chairman of the Board of Directors of the Chamber of Commerce, Industry, and Agriculture in Zliten, Jalal Bani, agreed on Wednesday with the Ambassador of Serbia to Libya, Dragan Todorović, to organize a Libya–Serbia Economic Forum to be held...

Egyptian official: $200 million in debts owed by Libya for electricity exports

An Egyptian government official revealed that his country’s overdue receivables from electricity exports through interconnection lines with Libya, Jordan, and Sudan amounted to about $320 million as of the end of last July. The official told the...

Syrians begin voting in invitation-only election

Around 6,000 people started voting on Sunday in Syria’s first parliamentary poll since Bashar Al Assad was toppled last year, a process the authorities said had been restricted because of instability in the country. Security personnel dressed in...