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| EBRD to Invest €25 bl in Energy Efficiency Projects Over Three Years |
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In a press conference held in London at The European Bank for Reconstruction and Development, EBRD, headquarters last Friday, the Managing Director for Energy Efficiency and Climate Change at EBRD, Josué Tanaka unveiled the details of the next phase of Sustainable Energy Initiative (SEI)- 2012-14, and its goals.
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| EBRD to Investment in Emerging Arab Democracies |
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The shareholders of the European Bank for Reconstruction and Development, EBRD, have agreed on Saturday to the creation of a €1 billion special fund to start investments in emerging Arab democracies in response to the wave of political change in parts of the Middle East and North Africa.
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| JPMorgan Chase Top Executives Set to 'Resign” |
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Three high-ranking executives at JPMorgan Chase & Co. - the biggest in the United States by assets - are expected to resign this week following $2bn of losses at the bank's London trading desk. They are not only reportedly involved with a failed hedging strategy that cost the bank billions, but also tarnished its reputation.
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| Turkish Exports to Libya On Increase |
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According to figures issued by Turkey's country's statistics authority, TurkStat, Turkish exports to Libya, Russia, Jordan, Syria, and Albania were up in the last three years after visa exemption.
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| Cyprus Wants Involvement in Libya's Construction Industry |
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Cyprus' Commerce, Industry and Tourism Minister Neoklis Sylikiotis has expressed his country's great interest in getting involved in activities in Libya’s construction industry, in a period in which the country is in a process of reconstruction.
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| Ras Lanuf Refinery will Suspend Production for at Least a Month Due to Restructuring, Report |
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Will the restructuring of the largest Libyan refinery of Ras Lanuf include also a review of the original contract, especially as many in Libya consider it an example of the corrupt practices by the Gaddafi regime that did not care about national economic interests.
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| Business Delegation Sees Vast Opportunities to Strengthen US-Libya Economic Ties |
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A delegation made up of 37 members of the US-Libya Business Association (USLBA) is currently in Libya for a five-day trade and investment delegation visit. It includes the representatives of 20 US companies and organisations.
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| The Challenges of Winning Business in Libya |
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Libya is a country where the post-conflict reconstruction programme is going to require spending of $200 billion over a ten-year period. Firms hoping to win Libyan business must develop strategies that will position themselves so that they are well placed to win contracts. But the Libyan rules for joint ventures require 75% of employees to be local.
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| Slow Down Expected in Fuel PricesThis Summer |
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Gasoline prices may be slowing down according to futures market pundits. The fuel run-up may now be on the decline, thanks to the easing demand from the slowing global economy.
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| Libya: The Full Story behind Ban of Libyan Airlines from Operating in EU |
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If, according to ECASC, Libyan authorities asked them to ban its national Carriers, because of inadequacy of ‘Airworthiness’ and deficiencies in Libya, then European Airlines should abstain from flying to Libya, too. If they don’t, Libyan Airlines must be allowed back into European airspace. Yet the Libyan Minister of Transportation is to blame for creating such a mess.
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| Ministry of Transportation to Open Bidding on City Bus Procurement |
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After many decades, Libya to rebuild its public transportation for the first time and announces preparations for bid opening soon.
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| Turkey to Increase Trade With Tunisia |
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Following a visit to the Tunisian capital, Tunis, Turkish economy minister Zafer Caglayan, accompanied by Turkish Exporters’ Assembly (TIM) Chairman Mehmet Buyukeksi and a delegation consisting of 200 businessmen, said that Turkey is set to increase its trade volume with Tunis from $1.1 billion to $5 billion.
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| Libya: Libyan Oil Firms Get more Autonomy to Become Economically Successful |
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As Libya slowly gets rid of the heavy burden of the former regime and acquires new administration approach to its state-owned firms, especially in the oil sector, national companies are moving toward acquiring more autonomy in running their own affairs on cost-benefit basis rather than on political agendas.
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| Norwegian Yara Commits 'Aggravated corruption' Related to Libya Activities, AFP |
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A corruption probe into Norwegian Yara’s activities in Libya reveals aggravated corruption has been committed in relation with its operations there for a long period of time. Names of who participated in the corruption remains to be revealed.
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| Agoco Oil Output Reaches 331,000 bpd |
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Libya's Arabian Gulf Oil Co, Agoco is producing around 331,000 barrels of oil per day (bpd) and hopes to reach full production by the beginning of next month, a spokesman Abdeljalil Mayuf has said.
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