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| TECOM Investments Highlights UAE Traditions, Heritage at 40th National Day Celebrations |
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Emirati traditions and culture were the highlights of the day-long celebrations organised by TECOM Investments, a diversified conglomerate and a member of Dubai Holding on Sunday, to mark the 40th UAE National Day.
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| Libya Energy Output Back to Half of Pre Conflict Level |
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Austrian energy group OMV's output from Libya has reached half the level it was before the civil war halted production, or at around 17,000 barrels per day, the company's Chief Executive Gerhard Roiss said, reiterating his view that it would take 12-15 months from the end of hostilities to restore full output.
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| Digicel, Part of Consortium to Take Over Libyan LAP GreenN |
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It emerged Friday that Digicel mobile group is now a part of a consortium proposing to pay $270 million (€204 million) for a majority stake in LAP GreenN, a mobile network owned by a Libyan state investment fund that was established in Africa in 2006.
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| World’s Economy on Course for a Crash |
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The Congressional super committee’s failure to reach an agreement coupled with Germany’s reluctance to bail out Europe is putting the world’s economy on course for a crash argues Clem Chambers, CEO of financial information site ADVFN.com and author of ‘101 Ways to Pick Stock Market Winners’.
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| Desert Energy - A Mighty Stimulus for Economic Development |
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With the armed conflict in Libya coming to an end, the Arab Spring has reached an important milestone. Now the question arises of how to resolve the economical and social issues in the Arab world that triggered these events in the first place.
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| APICORP Concludes Another Successful Divestiture |
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Arab Petroleum Investments Corporation (APICORP), the multilateral development bank of the Organisation of Arab Petroleum Exporting Countries (OAPEC) in which Libya has a 15% stake, Tuesday announced the sale of its 12.5% stake in the Bahrain National Gas Company (BANAGAS) to Kuwait-based Boubyan Petrochemical Company, K.S.C. (Boubyan). The divestment was recently approved by APICORP’s Board of Directors.
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| Montgomery re-enters Tripoli to Continue Established Libya Exhibition Programme |
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Since putting its Libya trade show programme on hold in February this year, Montgomery Worldwide subsidiary Montgomery Libya Ltd (MLL) has monitored developments in Libya closely and is now planning to re-enter the market with two international trade shows and conferences: ReBuild Libya 2012 and Oil & Gas Libya 2012, with tentative dates in the first quarter of 2012.
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| Zambia, Zimbabwe New African Destinations for Emirates |
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Emirates’ extensive African network is to be boosted again with the launch of two new destinations - Lusaka, the capital of Zambia, and the Zimbabwean capital, Harare.
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| APICORP Reports Highest Annual Net Profit in its History |
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Building further on its strong performance amidst a challenging global economic environment, The Arab Petroleum Investments Corporation (APICORP) today, May 9, 2011, reported its highest ever annual net profit, total assets and total shareholders’ equity. The government Libya has a 15% stake in APICORP.
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| UK Business Firms Reassess Their Exposure to Libya |
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Some of the biggest names in the UK, including HSBC, Standard Chartered, Barclays Capital and engineering firm Wood Group, along with many others, who have been working towards, or currently have, business relationships with Libya, are having to reassess their exposure to the country, Jonathan Russell writes on http://www.telegraph.co.uk.
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| Oil High on Libya Concerns; Oil Prices rise in Volatile Trading |
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Brent crude futures climbed above $110 a barrel as turmoil in Libya fuelled fears that unrest could spread to other oil-producing nations and choke supplies, it has been reported.
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| IMF chief urges global monetary reform |
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IMF chief Dominique Strauss-Kahn on Thursday said the currencies of China and other emerging economies should play a greater role in global finance, as part of a bid to promote monetary stability.
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| Canada Fears Dubai Stock Increase |
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A Canadian official on Friday balked at the prospect of Dubai increasing its minority stake in a combined London and Toronto Stock Exchange, and possibly seizing control of the "strategic asset."
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| Libya to Import 1.3M Tonnes |
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Libya expects its wheat harvest to rise 50 percent this year to 300,000 tonnes, which would put its expected imports of the commodity at 1.3 million tonnes, Ali Arhouma who heads Libya's Grain Production Authority told Reuters.
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| Libyan Bourse declines by 15.47 points Feb 09 |
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The composite index of the Libyan Bourse of Securities (LYX) Wednesday closed at 1,504.60 points, with a decline of 15.47 points, or 1.02 per cent of its value, compared with the previous session. The total value of the transactions reached 498,390 Libyan dinars (1.230 Libyan dinars = US$ 1) taking the exchanges from 19,143 shares in the framework of 61 financial transactions.
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