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| Libya Buys 12 Airbus Planes worth $1.7 Billion |
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Tripoli-based Afriqiyah Airways signed nonbinding commitments to buy nine jets from the single-aisle A320 family and three larger A330 widebody airliners in a deal worth about $1.7 billion at list price. |
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| Salary Law No. 15 No Longer Applicable to Libyan and Foreign Companies |
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In a first official statement ever regarding the limiting of the infamous salary Law no. 15, senior Libyan officials says the law will not be valid in hiring at some companies active in Libya.
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| Ghanem Inaugurates Major Gas Field, Says Third Oil Licensing Round Soon |
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Libya will open its third oil and gas licensing round since sanctions have been lifted, another attempt to boost its oil production when oil prices are moving above $70 per barrel.
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| Libyan Central Bank Announce New Measures Aimed at Simplifying Money Transactions and Letters of Credit |
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As a part of Libya's banking system reform process, the Governor of the Central Bank said this morning new regulations will be issued soon to limit the time period within which private banks can process money transactions and issue letters of credit.
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| Libyan, Russian Businessmen to Establish Joint Council |
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An agreement was signed in Tripoli to establish a joint Libyan-Russian Businessmen Council. It aims at promoting economic cooperation between the two countries. |
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| National Investment Fund Established for $10b |
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GPCmttee has established a $10 billion fund called "National Investment Purse" with the aim of promoting local investments. |
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| Ghadames Air Transport, A Private Company Aims High |
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Looking at a rather bright business future in Libya, an air services private company has been recently established with the aim of getting a part of the growing market in the country.
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| Libya Signs Holiday Complex Deal Worth $268m. |
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Farwa Island is to become one of the most sought after tourist resort in Libya in the next few years. |
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| Canadian Company to Continue Work on GMMR |
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Canadian construction company SNC-Lavalin has won a $1 billion contract to help build a major water distribution system in Libya that constitutes part of the Great Man-Made River project. |
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| BA to Operate Daily Flights to Tripoli Starting January 1, 2005 |
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Travel to the UK will be made even easier starting the New Year 2005 when British Airways introduces two extra weekly flights from Libya. |
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| Afriqiyah Airways Starts Lagos-London Flights Via Tripoli |
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Afriqiyah Airways has begun flying London-Lagos via Tripoli since early December, using its Airbus A300 aircraft.
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| Libya International Energy Conference, April 25-26, 2005 |
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The 1st Libya International Energy Conference, has been announced and it is going to be held on 25-26 April 2005. |
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| Ghanem: We Need to Protect Oil Prices, Banking System to be Liberalized |
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We have to protect and set a minimum price for oil.Libya should find routes to stop depending on oil as the main source of income,to do so telecommunications and banking sectors need reform. |
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| Libya Withdraws $1 Billion Assets Frozen in US |
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The Libyan Central Bank has withdrawn $1 billion of assets which had been frozen for almost two decades in the United States. |
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| Libya Joins COMESA |
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Secretary-General of COMESA Mr. Setidesso Nighina welcomed Libya's interest in joining the economic body and the importance the members attach to Libya's role in the organization.
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