LBBC - Libyan British Business Council

The following news headlines are selected breaking news stories about Libya and the Libyan business arena, which are collected daily from a variety of sources.

If you click on "Read More" for a headline marked "External Article" you will be taken to the source of that story. For all other articles, which can be read on the LBBC website, we welcome your comments and opinions.

Reaffirming the UK's commitment to Libya

Speaking today the Foreign Secretary said: "One year ago the Libyan revolution began on the streets of Benghazi. Libyans across the whole country can be proud of how much they have achieved and the hope they have given to others around the world living under the oppression of brutal regimes. Tangible progress has already been made in the transition to a peaceful and stable country. Libya’s future is far brighter than it was a year ago, but there are challenges ahead....

Benghazi begins celebrating Libya revolution day

Benghazi residents began celebrating Friday's first anniversary of the revolt which ousted Moamer Kadhafi, by letting off firecrackers and and honking their car horns late on Thursday.

Tunisia: Italian constructors with an eye on Libya

Italian constructors are arriving in Tunisia, offering potential local partners a system of small and medium-sized enterprises. The system has unique dynamism and technology and, a factor hugely appreciated in the country, an ability to get the best out of the local workforce by training it for the future, according to Carlo Ferretti, chair of the group of SMEs at Italy's national association of constructors (ANCE), which represents 20,000 companies. The opportunity comes in the shape of the scheme entitled "Italy and Tunisia: Building together", an event organised by the Italian Trade Commission in Tunis that has seen much higher Tunisian participation than expected. Italian companies (around 70 are taking part in the scheme overall) are an expression of the galaxy of SMEs, but have been joined by important groups such as Ferretti, Salini and De Eccher.

The meeting has aimed not only to strengthen economic relations with Tunisia but also to build connections that can make the country an operational platform for the Libyan market.

Libya struggles to revive economy year after uprising

Oil exports are approaching pre-conflict levels and international sanctions have been lifted, but four months after fighting ended, experts warn that Libya’s financial situation remains fragile.

The new leadership has inherited an economy in disarray, plagued by the corruption and mood swings of deposed ruler Muammar Gaddafi and his clan, who controlled Libya’s key oil industry — and revenues — for more than 40 years.

State-run National Oil Corp (NOC) said last week that oil production, which collapsed after the uprising against Gaddafi’s government erupted a year ago, had reached 1.3 million barrels per day, in “record time.”

OPEC Shipments Increase on Libyan Production, Oil Movements Says

OPEC will raise shipments by 0.7 percent this month as Libya continues to restore production that was halted during last year’s uprising, according to tanker- tracker Oil Movements.

The Organization of Petroleum Exporting Countries will export 23.38 million barrels a day in the four weeks to March 3, up from the 23.21 million barrels in the period to Feb. 4, the Halifax, England-based researcher said today in an e-mailed report. The figures exclude Angola and Ecuador.

“It’s coming from Libya partly, and partly from the Gulf,” said Roy Mason, Oil Movements’ founder, who estimates the North African nation has restored about two-thirds of its capacity.

New clashes rock Libyan desert town

TRIPOLI — Tribal clashes in Libya's remote southeastern desert left at least six people dead on Wednesday, tribal sources said, bringing to around 30 the toll since fighting began three days ago.

Meanwhile, a previously unknown group calling itself the National Rally of Toubus (NRT) said that Kufra was a disaster zone and that the Toubu tribe was the target of genocide. Fierce clashes on Sunday and Monday left eight Toubu and nine members of the Zwai dead.

Libyan Port City Awaits Rebuilding

MISRATA, Libya (AFP) – Hussein Mussa climbs up a ladder and paints the shutter of the large Caterpillar showroom white, stroking the metal door with a firm hand to remove the existing green shade.

''The owner of the showroom wants the green paint to be removed, so I am painting the shutter in white,'' Mussa told AFP as he dipped his brush in a small tin dripping with white paint.

''Under Kadhafi the owner was forced to use green color, but now things have changed,'' he said, referring to one of the defining symbols of slain Libyan dictator Moamer Khadaffy's 42-year-old iron-fisted rule.

ENI eyes Libya recovery, sees weak 2012 on European slowdown

Italian oil giant ENI said Wednesday its 2011 net profit rose and production is expected to pick up this year as Libyan fields come back on line after the overthrow of Moamer Gathafi.

The energy company's 2011 net profit rose 9.1 percent to 6.89 billion euros ($9.06 billion) while the adjusted net profit figure, which excludes exceptional items, was up 1.5 percent at 6.97 billion euros, ENI said.

Tribal ties tangle post-Gaddafi Libya

When Muammar Gaddafi seized power in 1969 he pledged to eliminate tribalism and unite Libya. But throughout the next 42 years - especially when his popularity wavered - Gaddafi succumbed to the temptation to toy with tribal loyalties and rivalries to tighten his grip.

Now he is dead, Libyans who hope their uprising can bring a modern democracy fret over the role of the myriad tribes which, for many of them, remain important to their personal identity.

Libya tense on eve of revolution's anniversary

14th Feb 12: The Libyan capital, Tripoli, is tense this week as the country prepares to mark the anniversary of its 17 February revolution, amid claims by a son of the former dictator Muammar Gaddafi that an uprising is imminent. Saadi Gaddafi, who fled Libya for exile in Niger, was quoted at the weekend saying that a loyalist uprising will happen "everywhere in the country". His comments have added to an already febrile situation in a country where the governing National Transitional Council (NTC) has failed to exert control over Libya's disparate militias.

Etisalat eyes Libya telecom sector

Libya has two state mobile operators, Madar and Libyana, while another government-linked firm Lap Green Networks is active in several African countries including Uganda and Ivory Coast.

Libya's transitional council calls Turkey model for Arab Spring countries

Mustafa Abdul Jalil, the leader of Libya's National Transitional Council (NTC), has called Turkey a model for Libya and the other Arab Spring countries, the Anatolia news agency reported on Monday.

“Turkey's democratic structure is an example to Libya and the other countries that experienced the Arab Spring. Libya will look to Turkey as a model for its own political and democratic structure,” Abdul Jalil told Anatolia.

Libyan domestic fund to direct some investments abroad - Official

A Libyan domestic investment fund with estimated assets of US$1 billion could direct some of its investments abroad, especially to neighbouring Tunisia, the chief executive of the National Investment Company said.

"Although the fund is focused on domestic investment, our laws allow for foreign investment," Basheer Ashour told Reuters over the telephone from Tripoli. "We could make some investments in Tunisia," he said.

Revolutionary militias in western Libya form single body in challenge to new government

Representatives of about 100 militias from western Libya said Monday they had formed a new federation to prevent infighting and allow them to press the country’s new government for further reform.

The move was a blow to the National Transitional Council, which helped lead the eight-month uprising against longtime ruler Moammar Gadhafi that ended with his capture and death in October. The NTC has struggled for months to stamp its authority on the country, and has largely failed to decommission or bring under its control the hundreds of militias that fought in the war.

Libya on alert after warning from Gaddafi’s son

Libya’s interim authorities have ramped up security precautions ahead of the anniversary of the country’s revolution after threats of a counter-revolution by the former leader’s exiled son.

Saadi Gaddafi, a former self-styled football player and reputed playboy, warned in a television interview on Friday of imminent attacks on the country’s interim leadership coinciding with the February 17 anniversary of the Libyan uprising.

Libya employee can sue for dismissal in UK

The Supreme Court has ruled that an industrial tribunal does have the jurisdiction to consider a case of unfair dismissal of an employee who worked some of the time in Libya, job-sharing with another of the company’s employees. The company itself is a UK subsidiary of a US corporation.

Libya issues law for electing national congress

Libya has finalised a law to govern an election to choose a national assembly to draft a new constitution — a first step to setting up a new government after the ouster of longtime leader Moammar Gadhafi.

The new law determines that the 200-member national congress will include at least 40 women, doubling the number of women in an earlier draft. The body is supposed to be elected before June 23.

Libya may look to the UAE to train its police

Libya may look to the UAE to train its police and security forces as it look to rebuild its country after decades of rule under former leader Colonel Muammer Gaddafi, a leading UAE minister has revealed.

During the bloody civil war in the African country last year, the UAE was one of a number of Gulf states which supported the no-fly zone with military troops. When the rebel leaders eventually won control, the UAE was the second Arab country, after Qatar, to recognise the new government as the sole legitimate representative of the Libyan people and it is now looking to help it move forward into the post-Gaddafi era.

China protests to Libya after embassy stormed

Libyan press booms after revolution

The media landscape, which has long been dominated by the state through the Public Press Authority, now boasts more than 300 dailies and weeklies. The editions range from political to literary and diverse.

Libya Pumped 1.36 Million Barrels of Crude Feb. 4, NOC Says

The country pumped a combined 1.42 million barrels of crude plus condensate on that day, up from an average of 1.18 million barrels a day in January, the NOC said in releases posted on its website. The holder of the largest oil reserves in Africa has the capacity to produce 1.79 million barrels, according to data compiled by Bloomberg. It also produced 2.01 billion cubic feet of natural gas.

Opinion: What Challenges are Libyans Facing After February 17 Revolution?

By Dr. Nagi Giumma Baraka: I was a member of the Executive council at the National Transitional Council (NTC) during the uprising and liberation of Libya. To get a clearer picture of what the Libyan people are facing in the months to come, I will explain this further and how these issues can be resolved in the short term. The uprising by young men and women in Libya inspired all the people who wanted freedom and wanted to live in a democratic society.

Yara Hopes To Restart Libyan Fertilizer Plant Venture In 2012

The Norwegian fertilizer company Yara International ASA (YAR.OS) said Tuesday that Libyan gas infrastructure must be intact for it to be able to start up the jointly controlled Lifeco plant in Libya in 2012. The company hopes to start production in the third quarter and increase to full capacity by the end of the year.

It is "very important" that the country's infrastructure is working, and that gas deliveries to the plant are possible, said Chief Financial Officer Hallgeir Storvik in an interview.

Jordan treating 20,000 Libyan patients

AMMAN — Health Minister Abdullatif Wreikat said on Monday that more than 20,000 Libyans are receiving medical treatment in Jordan’s hospitals, mostly casualties from last year’s uprising.

Libya court postpones trial of Gaddafi loyalists

Libya started and then swiftly postponed court proceedings on Sunday against 41 Libyans accused of helping Muammar Gaddafi crush the popular revolt that ended in his death last year, Libyan news agency LANA said on Sunday.

"The decision (to postpone) was made in the wake of listening to the pleadings of the defence panel that argued that this military court is not a competent entity and called for referring the case to the civil judiciary," LANA said on its website.

Jordanian Prime minister visits Libya Tuesday

6th Feb 12: Prime Minister Awn Khasawneh will start a two-day official working visit to Libya on Tuesday (7th Feb) during which he will hold talks with Libya officials on bilateral ties as well as ways of further boosting cooperation in economic and trade fields and setting up joint projects.

Chinese seeks reconstruction role in Libya

China has sent a team of government officials and company executives to Libya to discuss post-war reconstruction and how to protect Chinese assets, the official Xinhua news agency reported on Sunday.

The team, led by Wang Shenyang, head of the foreign investment and economic cooperation department of the Ministry of Commerce, will assess damage to Chinese assets in Libya and talk with Libyan officials about uncompleted projects, Xinhua said.

Libya enjoys political flowering ahead of elections

While Libya's interim rulers struggle to maintain control after a nine-month civil war culminated in the capture and killing of Muammar Gaddafi, the country is experiencing something of a political awakening.

Libyan diplomat dies after torture: rights group

A Libyan diplomat who served as ambassador to France for Muammar Gaddafi died from torture within a day of being detained by a militia from Zintan, Human Rights Watch said in a statement on Friday.

Zintan is the town where the late Libyan ruler's most prominent son, Saif al-Islam, is being held, and the former diplomat's death has reinforced concerns for the son's safety.

Libya's Agoco hopes for full oil output in April

Libya's Arabian Gulf Oil Company (Agoco) is producing around 300,000 barrels per day (bpd) and hopes to reach full production in April, later than previously thought because of electricity problems at some fields, a spokesman said on Thursday.

The Benghazi-based company had previously said it expected to return to full production of 425,000 bpd by the end of February. However a delay in restoring full power at some oilfields has meant this has been pushed back.

Suncor Energy back in Libya

Oil production at Suncor Energy’s operations in Libya has resumed at three of five fields, flowing about 35,000 barrels of oil per day in January, the Canadian company said Wednesday while allaying concerns that rising costs could impact growth plans at home.

The company, in reporting fourth-quarter results Wednesday, said it was taking a cautious approach to operations in the North African country, and that only “a handful” of employees were working in the field.

Foreign Office Minister meets Libyan Interior Minister

The Foreign Office Minister Jeremy Browne today met the Libyan Interior Minister, Mr Fawzy Abdilal, who is making his first visit to the UK since becoming Interior Minister at the end of November 2011.

As the FCO reported in a press statement, the visit focused on how the UK can assist the Transitional Libyan Government in bringing stability and security throughout the country.

“I am very pleased that the Libyan Interior Minister was able to visit the UK so soon after being appointed to his new role. His visit is a valuable opportunity for us to continue to build a productive and frank relationship between our two countries...."

Libya to investigate prison torture allegations

The Libyan government is to investigate reports by rights groups that former rebels who fought to oust Muammar Gaddafi are now torturing detainees in makeshift prisons around the country, Deputy Prime Minister Mustafa Abu Shagour said on Tuesday.

Abu Shagour's comments were a response to a damning statement last Thursday by the aid agency Medecins Sans Frontieres, saying it had stopped its work in detention centres in the city of Misrata because its medical staff were being asked to patch up detainees mid-way through torture sessions so they could go back for more abuse.

Libya NTC Rejects Ghoga Resignation

At a meeting in Tripoli Monday, Libya's National Transitional Council (NTC) rejected the resignation of the deputy head of Libya's ruling Council, Abdel Hafiz Ghoga, who had stepped down after protests against him in Benghazi on January 22.

Ghoga, who also served as official spokesperson for the NTC, came under increasing opposition from Benghazi residents who accused him of opportunism because of his belated defection from the Gaddafi regime.

French airline to start biweekly flights to Libya ...Lufthansa returning to Libya on Feb 2

31st Jan 12: TRIPOLI – French airline carrier Aigle Azur is to start biweekly passenger flights between Paris and the Libyan capital of Tripoli in March, the company’s president Arezki Idjerouidene told Reuters on Sunday....and after almost a year, Lufthansa German Airlines on Sunday announced that it will return to Libya on February 2 as it resumes up to three times weekly flights between Germany and Libya. Based on expected escalating demand, Lufthansa will eventually increase capacity in the future.

Libya minister to protect investment in Zamtel

(Reuters) - Libya will do all it can to protect its 75 percent stake in Zamtel, the fixed-line telecoms firm in Zambia, whose government announced plans last week to seize Libya's stake in the firm, Libyan Foreign Minister Ashour bin Khayyal said Monday.

"The Zambian government has taken a unilateral action by nationalizing this company," Khayyal said, adding he had spoken to his Zambian counterpart about the issue at the African Union summit in the Ethiopian capital.

Libyan PM calls for security meeting over weapons

ADDIS ABABA (Reuters) - Libyan Prime Minister Abdurrahim al-Keib called on Sunday for a regional security conference to tackle a proliferation of weapons by exiled supporters of former leader Muammar Gaddafi.

The Libyan civil war may have given militant groups in Africa's Sahel region like Boko Haram and al Qaeda access to large weapons caches, said a U.N. report released on Thursday.

Libya drops parliamentary quota for women

Libya’s transitional authorities have dropped a 10 per cent quota for women from the final draft of an election law, enacted ahead of a historic June 2012 parliamentary vote, official television reported.

According to an announcement on Sunday by the National Transitional Council, two-thirds of the candidates in the future 200-seat parliament would go to party lists while a third would be reserved for independent candidates.

Better than it sounds: the new government is making progress even if things are still messy

28th Jan 12: LIBYA’S interim rulers had their first serious wobble on January 21st when a crowd of several thousand massed outside a government building in Benghazi, the country’s second city, where members of the National Transitional Council were meeting. They hurled grenades and Molotov cocktails, yelled angry slogans and demanded more support for rebel fighters now out of a job.

Zambia’s decision worries Libyan telecoms firm

24th Jan 12: Libya’s telecommunications investment arm, LAP Green, has said it is “deeply worried” by the Zambian government's announcement Tuesday reversing the sale of Zamtel, which is 75 percent owned by the Libyan firm.

Qatar Airways, British Airways return to Tripoli

Qatar Airways has announced it will resume flights to the Libyan capital Tripoli from February 2nd. Also today, British Airways unveiled plans to resume flights to Tripoli from Tuesday May 1st, 2012.

A show trial for Saif Gaddafi would only promote discord in Libya

24th Jan 12: Saif al-Islam Gaddafi remains in detention, held by the Zintan militia who captured him two months ago. On Monday, Ali Humaida Ashour, the Libyan justice minister, announced Saif's trial would be "held in Libya under Libyan law". The international criminal court (ICC) quickly issued a statement saying a decision had not yet been made. A trial in Libya looks increasingly likely, but will it be fair or will it be justice for show? And where does this leave the international judicial response that was so keenly welcomed last February when the UN security council referred the Libya situation to the ICC?

Libya: Competing claims over Bani Walid fighting

Confusion surrounds events in the Libyan town of Bani Walid after fighting broke out between armed groups on Monday, leaving four people dead. The head of the local council has said a local militia was attacked by remnants of forces supporting late Libyan leader Col Muammar Gaddafi. But the post-Gaddafi government has denied pro-Gaddafi forces were involved, saying instead the fighting was between rival militias.

Libya in business, just not business as usual

Businesses of all kinds should be looking at the potential of Libya and considering whether and how to enter the market. A large part of that decision will be based on how business-friendly the laws of Libya are and how much protection investors can expect.

The legal system of Libya is reasonably well developed and includes detailed laws that are, for commercial and financial matters, largely derived from the French and Egyptian civil codes. Sharia is very rarely invoked in commercial matters, but does prohibit gambling and alcohol.

Deputy head of Libya's NTC resigns

"My resignation is for the benefit of the nation and is required at this stage," he told Al Jazeera on Sunday, referring to a "consensus" that he said no longer maintains the "highest national interests".

Italy to help recreate Libyan police force, Terzi says

Italy will help Libya's transitional government to recreate national police force and urges its international partners to do the same, Foreign Minister Giulio Terzi told parliament Wednesday.

A visit to Tripoli later this week by Terzi and Premier Mario Monti will provide the chance to help Libya draw up a "road map" to complete its transition from the dictatorship of late strongman Muammar Gaddafi, the foreign minister said.

Monti, Terzi and a diplomatic and business delegation will visit Libya on Saturday to start to restore cooperation with the north African country, reactivating an important friendship treaty.

Gulf allies move to reap spoils of Libya war

As the convoy of gleaming white Mercedes sedans dodges the potholes of Tripoli’s roads, the cost of Libya’s clean-up is all too apparent. Piles of rubbish are strewn over the rubble that marks the remains of Bab al-Aziziya, the fortress compound that symbolised the all-powerful rule of Colonel Muammer Gaddafi.

Destroying the last remnants of his regime may have been the easy part: a caretaker government led by the rebel council now has to rebuild the country’s economy, and the allies that aided the insurgency are looking to reap the commercial rewards.

Libya's Lisco to partially restart steel production

LONDON (Reuters) - Libya's state-owned steelmaker Lisco will restart part of its steel production operations next week and expects to resume steel melting in April if the energy supply to the city of Misrata is restored, a company official said on Wednesday.

Head of Libyan Transitional Government receives Gargash

Abdel Rahim al-Kib, Head of Libyan transitional government received here last night, Dr. Anwar Mohammed Gargash, UAE Minister of State for Foreign Affairs and his accompanying delegation.

The meeting was also attended by UAE Ambassador to Libya Sultan Rashid Al Ketoub, Libyan Minister of Foreign Affairs Ashour Bin Khayal and Libyan Transport Minister Yousef Al Wahaishi.

Top International Figures Set to Visit Libya

17th Jan 12: According to our sources top officials from Korea and Cyprus are set to visit Libya in the next few days. During the visits they will hold talks with their Libyan counterparts to discuss the future prospects and to show solidarity with the Libyan people.

Tantawi visit roils Libyan activists

Protests greeted Egyptian interim leader Hussein Tantawi on his visit to Libya Monday (January 16th) as human rights activists pressed for the handover of Kadhafi-era officials.

Demonstrators gathered outside Tripoli's Corinthia Hotel, where talks were held between Field Marshal Tantawi, head of Egypt's ruling Supreme Council of the Armed Forces (SCAF), and Mustafa Abdel Jalil, head of Libya's National Transitional Council (NTC). The protest was organised by the Co-ordinating Committee of Civil Society Organisations and the Organisation of Libyan Rights Activists.

U.S.-Libya Chamber of Commerce Announces Appointment of Richard H Griffiths as Vice President, Director of International Affairs

[Press Release] The U.S.-Libya Chamber of Commerce is pleased to announce the formal appointment of Richard H Griffiths in the role as Vice President, Director of International Affairs.

The U.S. Chamber has granted its full support to the establishment of the USLCC as it believes that the Chamber should begin its important work in a timely manner and provide the requisite support to U.S. business looking to invest in Libya.

Libya clashes end with prisoner swap, ceasefire

GHARYAN, Libya — Rival Libyan fighters who clashed in towns south of Tripoli have settled their deadly dispute through a prisoner swap and agreed to a ceasefire, local officials said on Monday.

Slow start for Libya drive to disband militias

Twenty-four hours after Libya's police force opened its doors for the thousands of militia members to join its ranks, only 100 had signed up, signalling the long road the government faces to bring the unruly militias to heel.

The militias, which fought to unseat former leader Muammar Gaddafi, are now the biggest threat to stability in Libya, clashing regularly with each other in violent turf wars and undermining the authority of the country's new rulers.

The interim government, the National Transitional Council (NTC), wants to amalgamate the militias into the police force and army. The NTC's chief said this month that if they do not comply, the country risks being dragged into a civil war.

Egypt military ruler to Libya on first state visit abroad

CAIRO — Egypt's military ruler Field Marshal Hussein Tantawi visits Libya on Monday to boost ties between the two neighbouring countries where popular protests have unseated veteran leaders, officials said.

It will be Tantawi's first state visit abroad since the Supreme Council of the Armed Forces (SCAF), which he heads, took over following the ouster of president Hosni Mubarak in February after an 18-day revolt.

Libyan parties reject draft election law

Tripoli - Twelve moderate Islamist parties in Libya have rejected a proposed election law because it encourages voting along tribal lines and gives undue influence to the wealthy, they said late on Saturday.

The draft law, published by the National Transitional Council (NTC) on January 2, will set the rules of a vote for the national assembly in June. The body will be charged with writing a constitution and forming a second caretaker government.

The Political Scene in the New Libya

15th Jan 12: The current political scene in Libya is buzzing with political activities like never before; political parties were banned under the Gaddafi rule, as he claimed power to the people, and his idea of the “state of the masses”. After the successful campaign to oust Gaddafi out of power, the political scene in Libya is being reborn with different political groups, civic organisations and wide range of political ideologies.

Rebuilding Libya's aviation industry crucial to economic recovery

14th Jan 12: Even before the NATO air strikes, the United Nations sanctions and the European Union ban, Libya’s aviation industry had little hope. The country, ruled by Muammar Gaddafi under an iron fist for the last 40 years, placed little focus on its airlines and airports, while countries in the nearby Middle East flourished and started to develop some of the largest hubs in the world. The Middle East/North African region has become increasingly important but it seems Libya was left behind, and when major unrest broke out in Feb-2011, the industry’s problems widened significantly. Now Libya has been “liberalised” and Gaddafi killed, it must begin the slow process of rebuilding an industry whose foundations were not strong to begin with. International airlines have resumed services, investment firms are showing interest in relaunching airport renovation projects, the country’s two national carriers have relaunched operations and are set to resume talks on their merger, and tourism operators are becoming optimistic about future bookings.

Companies with Libyan operations should tread carefully on contract negotiation, says expert

Libya has gone through dramatic recent political and social changes, and economic change cannot be far behind. For companies already doing business there it is an unsettling time, but they should be careful about how they go about protecting their interests.

Aggressive tactics to reinforce existing contractual rights may or may not yield benefits in the short term, but they are likely to damage longer term prospects of doing business in Libya.

Elections are expected in Libya later this year. Until then the Transitional National Council (TNC) is in charge, and it has said that it will assess contracts and honour those that were entered into properly. The TNC may well use this as an opportunity to restructure or renegotiate a contract.

Libya gets reprieve on extradition of Gadhafi son to ICC

The International Criminal Court on Tuesday gave Libya’s leaders two more weeks to decide whether they plan to hand over Moammar Gadhafi’s most prominent son, Seif al-Islam, to face trial on charges of crimes against humanity.

A three-judge panel, however, said Libya’s request “would cause an undue delay in the proceedings and that only a shorter extension is appropriate.” The judges set Jan. 23 as the new deadline.

Trade boom with Libya on Lebanon’s horizon

BEIRUT: Libya’s recent decision to lift its economic embargo on Lebanon will boost bilateral trade and open up opportunities for businesses in Libya’s reconstruction and energy sectors, experts said. A statement issued by the newly appointed Libyan Cabinet announced the decision earlier this week. The Cabinet has also lifted a similar trade embargo on Switzerland.

“We have taken the decision to cancel the embargo to foster mutual respect and to sustain the economic interests of Libya as well as Lebanon and Switzerland,” Libyan Undersecretary for Economy Ahmad al-Kouchli was quoted as saying by the Libyan News Agency in a statement issued Monday.

Libya's nasty new friend

Memo to the new leaders of Libya: If you're trying to establish a democratic, internationally-recognised state founded on the rule of law, it's a very bad idea to seek governance advice from the modern successor to Idi Amin.

In one of the more incongruous diplomatic visits in recent memory, Libyan officials over the weekend rolled out the red carpet for none other than Sudanese President Omar Hassan Ahmed Bashir — the dictator next door wanted by the International Criminal Court on charges of war crimes and crimes against humanity for slaughtering his own people, very like the military dictator just overthrown in Libya who was also wanted by the ICC on similar charges.

Libya given US$20 bln of freed assets

Libya has received roughly $20 billion in assets that were held overseas by Moamer Kadhafi's regime and frozen during the conflict that ousted him, the foreign minister said on Tuesday.

An estimated $150 billion (117 billion euros) of overseas assets were frozen following UN Security Council sanctions against his regime during the popular uprising and civil war that led to the dictator's downfall.

German foreign minister seeks new trade ties with Libya

A firm handshake and a friendly offer of help - on his three-day visit to North Africa, German Foreign Minister Guido Westerwelle was keen to demonstrate his commitment to investing in the future of Algeria, Libya and Tunisia, three countries which were rocked by the upheavals of the past year.

On the Libyan leg of his tour, the German foreign minister wanted to make his presence felt on what was his first visit to the Libyan capital Tripoli since the death of former dictator, Moammar Gadhafi.

Libya NTC to review investments worldwide

Libya will review its investments in the Arab world, Africa, and elsewhere, and it will make major agricultural and property investments in neighboring Sudan, the chairman of its ruling National Transitional Council said Saturday.

"We have a general view to review all investments in the Arab world, the African continent and elsewhere," Mustafa Abdul Jalil said at news conference with visiting Sudanese President Omar Hassan al-Bashir.

Belhaj says he won’t take part in British inquiry into torture and rendition

The military commander of the Libyan rebels who claims Britain was involved in his rendition and torture has pulled out of the Detainee Inquiry amid claims its powers are "seriously deficient".

Abdul Hakim Belhadj, head of the Tripoli Military Council, will join several former Guantanamo Bay detainees who are also pulling out of the inquiry into wider allegations of British collusion in torture, his lawyers Leigh Day & Co said.

How to Profit from Libya's Oil Rebirth

When political violence started in Libya in February 2011, it wasn't surprising to see oil production there drop. The surprise may have come in the form of how much Libyan output was lost in the months leading up to the overthrow of dictator Muammar Gadhafi.

Before the uprising, the North African country was pumping about 1.6 million barrels per day, making it the continent's third-largest producer behind fellow OPEC members Angola and Nigeria. That number plunged in the months that followed, but Libya now appears to be getting its oil act back together.

Libya's leader warns of civil war after Tripoli gun battles

The head of Libya's interim government warned yesterday that the country could descend into civil war after rival militias fought gun battles in the centre of the capital, Tripoli, leaving a trail of dead and injured.

Mustafa Abdul Jalil spoke of the dangers posed by continuous lawlessness of private armies while the draft regulations for the first parliamentary elections scheduled for later this year were being published.

Seko Libya resumes activities

4th Jan 12: Logistics operator Seko Libya is resuming activities after ten months of suspension during the Libyan revolution.

Libya and Tunisia strengthen ties

Unshackled from tyrannical autocrats and bound together geographically, Libya and Tunisia are edging closer together politically and economically with possible geopolitical ramifications for all of north Africa.

In recent weeks Tunisians and Libyans have forged economic and security deals that have tightened the bonds between the two neighbours. Both last year overthrew long-time dictatorships, purged themselves of the former elites and moved toward democracy. Like-minded Islamists of varying stripes appear to be ascending and dominating the political landscape in both countries.

£1.7m Libya factory was a mistake, says Tayto crisp boss

The man behind Tayto crisps in the Irish Republic has admitted ploughing €2m (£1.7m) into a factory in war-torn Libya was a “mistake”. But the company still hopes to revive its operations near Tripoli after the building survived months of Nato bombing and the civil war that led to the fall of Muammar Gaddafi.

The Tayto operation was forced to hastily withdraw from Libya and ship equipment back to Ireland when civil unrest spilled over into violence last year. Raymond Coyle, chief executive of Co Meath’s Largo Foods, said the original plan was to use the factory to avoid a 20% charge on importing crisps into Libya — it sends thousands of packets of snacks to the country each month.

Libya seeks to boost tourism industry

Libya's Society for Tourism has started activities to revive the North African country's tourism industry following the recent Arab uprising. The Society members staged parade and flame lighting ceremony in Tripoli's main square in an attempt to introduce the country's historical and cultural identity, Press TV reported.

Attracting foreign tourists is still a major issue in Libya with the number of flights reduced at the Tripoli International Airport. Damaged runways have also made security a prevailing concern for airline companies. Lack of tourists has affected local economy and hotels all over the country have suffered great economical losses.

AU summit to declare fate of Libyan assets in East Africa

The fate of Libyan investments in East Africa and other African countries, frozen at the height of the revolution that toppled former leader Muamar Gaddafi, depends on the outcome of the African Union Heads of state Summit that convenes in Addis Abba, Ethiopia in January.

Although the US, UN and European Union lifted sanctions against the North African country, nearly three months ago, its assets held under the Libyan African Portfolio remain the subject of local restrictions in many host countries.

Following the imposition of UN sanctions, Uganda which plays host to a number of Libyan enterprises moved to take control of them and has been slow to revert management to the transitional authority in Tripoli even though the sanctions were lifted in October.

Tunisia says 4 guards kidnapped at Libya border, 3 quickly escape

TUNIS, Tunisia — The Tunisian news agency says a four-member border patrol was kidnapped by an armed Libyan group but three of the guards quickly escaped. It was the first such incident along the border, which has been well guarded since the violent uprising that left Moammar Gadhafi dead in October. The TAP agency cited the Interior Ministry on Sunday as saying that the four were kidnapped a day earlier in the Ben Guerdane region...

Saudi, Libya agree to exchange ambassadors and restore full ties after Gadhafi’s ouster

RIYADH, Saudi Arabia — Saudi Arabia and Libya have agreed to restore full diplomatic ties and exchange ambassadors now that longtime Libyan ruler Moammar Gadhafi is no longer in power.

Libyan militia captures Gaddafi loyalists over 'bomb plot'

"We captured explosives with them that they bought from the black market and now we're interrogating them," the commander of Tripoli's Revolutionist Council, Abdullah Naker, said.

Militia groups who helped overthrow Muammar Gaddafi last year still hold considerable power in Libya, and have taken the law into their hands in several areas, setting up road blocks and arresting suspects, despite the presence of an official police force.

Libya's Army Tries to Reassert Itself as Militias Have Their Way

The drenching rains and whipping winds off the Mediterranean Sea were not enough to keep Major Anwar al-Mishri in his Toyota pickup truck. "Our patrols go out no matter what," he said, his voice barely audible over the pelting drops. "Our job is to protect the people. And that is what we are here to do tonight."

Over the past few weeks, units of the Libyan national army such as Mishri's have stepped up their presence in the capital, Tripoli, urging regional militias to disband and join their forces. Many have scoffed at the offer, preferring instead to keep their heavy weapons. The new Libyan government is too weak to confront the brigades. It is concentrating efforts on more pressing matters, such as lobbying the international community to release its frozen assets. With the government lacking the will and motivation to confront the brigades, the creation of a national fighting force to replace the regional units scattered throughout the country is unlikely to be accomplished anytime soon.

How to Control Libya Missiles? Buy Them Up

23rd Dec 11: TRIPOLI, Libya — The United States is discussing with the Libyan interim government the creation of a program to purchase shoulder-fired, heat-seeking missiles from militia members and others who gathered them up during the war, American government officials said.

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