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Author: LS

Boris Johnson moved to intensive care unit

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UK Prime Minister Boris Johnson was moved to an intensive care unit after his condition with coronavirus symptoms “worsened,” his office has said.

Johnson, 55, was first admitted to St Thomas’ Hospital in London on Sunday evening for what he said were “routine tests,” saying on social media that he was in “good spirits.”

But the apparent change in the leader’s health has shocked the nation, with politicians from his party and the opposition voicing their support for the leader, as the country battles an outbreak that has killed more than 5,000 people.

Gold jumps to more than three-week high

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Gold prices surged over 2% to a more than three-week high on Monday on expectations of global stimulus measures to counter the economic damage caused by the outbreak of the novel coronavirus.

Spot gold was up 2.3% at $1,653.35 per ounce by 17:49 GMT, having hit its highest level since March 11 at $1,655.69 earlier in the session.

Among other precious metals, autocatalyst palladium was down 1.7% at $2,151.01 per ounce.

Platinum gained 1.9% to $734.02 per ounce, while silver climbed 3.3% to $14.86 per ounce, having earlier hit its highest since March 16 at $14.91.

The U.S. dollar stalled against most currencies but continued its rise versus the Japanese yen as the rate of deaths from coronavirus in Europe slowed while deaths in Japan and elsewhere in Asia accelerated.

An African Union Study: about 20 million jobs in Africa at risk from coronavirus impact

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About 20 million jobs are at risk in Africa as the continent’s economies are projected to shrink this year due to the impact of the coronavirus pandemic, according to an African Union (AU) study.

Under what the AU researchers deemed their realistic scenario, Africa’s economy will shrink 0.8%, while the pessimistic scenario said there would be a 1.1% dip.

According to the study, up to 15% of foreign direct investment could disappear.

“Nearly 20 million jobs, both in the formal and informal sectors, are threatened with destruction on the continent if the situation continues,” the analysis said.

African governments could lose up to 20 to 30% of their fiscal revenue, estimated at 500 billion in 2019, it found.

Tripoli hospital under fire as continued shelling defies coronavirus

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 Projectiles struck the grounds of a hospital in Tripoli on Monday in an area held by the internationally recognised government near a frontline, residents said, even as Libya struggled to prepare for an outbreak of the coronavirus.

The residents said they heard loud blasts and then saw black smoke rising from the area around the hospital during a day of heavy mutual bombardment by Libya’s warring sides.

The local council of Abu Salim district said the hospital had been targeted by rockets fired by the eastern-based Libyan National Army (LNA) of Khalifa Haftar, which has been attempting to capture Tripoli for a year.

Abu Salim council posted photographs showing damaged cars in the hospital grounds and said five people had been injured in the attack. A local aid group said six of the hospital’s patients had been evacuated.

Libya’s health infrastructure has been badly reduced by years of chaos and conflict since the 2011 uprising against strongman Muammar Gaddafi, and aid agencies have warned it is poorly prepared to withstand a major coronavirus outbreak.

The World Customs Organization Cooperates with The Libyan Customs

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Libya’s Finance Minister Fraj Bumtari held a meeting today with the Secretary General of the World Customs Organization Kunio Mikuriya.

The Deputy Director General of the Customs Service and a number of directors of technical departments attended the meeting as well.

During the meeting, the cooperation between the Libyan Customs Service and the Organization was discussed. It was also agreed that the Organization would provide the Customs Service components with technical assistance and a number of training programs such as building organizational structures, developing electronic systems, as well as online training.

On his part, the Secretary-General of the World Customs Organization expressed the organization’s readiness to offer technical support and advice for the advancement of the customs work in the Libyan State.

Tripoli: GECOL cuts off all illegal electric connections

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In cooperation with the security services, the General Electricity Company of Libya (GECOL) started a campaign on Sunday to cut off all illegal electric connections in Tripoli in order to reduce the excessive loads on the network and ensure better-quality service to citizens, especially in view of the circumstances the country is experiencing.

According to the company’s statement on Facebook, the campaign will target commercial and residential spaces whose owners linked unapproved power lines to the lamp posts and put the power grid under pressure.

The dollar fell after reaching 5 LYD

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A currency trader confirmed in a statement to the economic newspaper of “Sada” that the dollar fell to 4.95 LYD and is still falling, after it rose to reach 5 LYD a week ago.

This decrease in the dollar price is due to the correspondence of the CBL Governor Al-Siddiq Al-KAbir to the Chairman of the Presidency Council on selling foreign exchange starting from next Thursday.

Selling foreign exchange to be resumed next Thursday

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In a statement to “Sada” economic newspaper, an official source in the Central Bank of Libya revealed that the CBL Governor “Al-Siddiq Al-Kabir” addressed a letter to the Chairman of the Presidency Council “Faiez Al-Serraj” in which he stated that selling foreign exchange will be resumed starting from next Thursday based on the previous fee rate in order to supply the necessary commodities and their manufacturing deliverables.

In his correspondence, Al-Kabir warned against the negative consequences of this decision (keeping the same previous fee rate according to the CBL’s order ). He also expected a shortage in liquidity as well as a rise in the dollar price in the parallel.

He also expected a disorder in the general price level due to the pricing of some goods in the black market, in addition to the continuation of smuggling phenomenon.

Al-Kabir also demanded that all measures should be taken in order to resume oil production in Libya.