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Author: LS

Times of Malta: Court orders Bank of Valletta to return Gaddafi millions to Libya

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The Bank of Valletta court has ordered the return of more than 90 million euros linked to Muammar Gaddafi. The ruling comes after a decade-long battle over the mentioned amount linked to the heirs of whom the Times of Malta called a “dictator”.

In a legal battle that began a year after Gaddafi’s ouster and death in 2011, a Maltese court agreed on Tuesday that the money should be returned to Libya.

The article explained that Mutassim, Gaddafi’s son, was discovered to be the owner of a Maltese company registered with bank accounts in Bank of Valletta, noting that upon his death in Misrata on October 20, 2011, at the height of the civil uprising against his father’s regime, he was found in possession of various credit cards issued by Bank of Valletta.

The newspaper also confirmed that, according to Libyan law, he was prevented as a military official from taking advantage of any commercial interests. Moreover, he did not provide a full declaration of assets as stipulated by the laws of his country.

The article noted that a case had been filed in Maltese courts, with the Libyan state accusing Bank of Valletta of failing to conduct due diligence checks that were supposed to prevent Gaddafi from opening an account in the first place.

The newspaper reported what the lawyer for Gaddafi’s heirs, Charilos Oikonomopoulos, said that the money was private funds, and not stolen from the Libyan state, noting that last year, the Libyan government asked then Foreign Minister Evarist Bartolo to release the money to the state as a sign of goodwill.

The article indicated that the Libyan government has long viewed the funds owned by a Maltese company called Capital Resources Limited, as illegal gains, adding that Maltese lawyer Shaheryer Ghaznavi represented the Libyan state in its attempts to return the funds. It is known that former Labor Secretary of the Treasury Joe Sammut was a Gaddafi’s money man in Malta, noting that he was accused in 2015 of fraud, embezzlement, failure to comply with due diligence and forgery to enable Libyans to set up businesses in Malta and become eligible for residence permits.

Ben Gdara discusses with the CEO of Eni the strategic activities and projects related to renewable energy

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The head of the Libyan National Oil Corporation, Farhat Omar Ben Gdara, met today, Thursday, in Rome, with a delegation of senior executives of the corporation, the CEO of Eni, Claudio Descalzi.

The meeting discussed the Italian company’s activities in Libya and strategic projects, according to the Italian Nova Agency.

Descalzi also affirmed Eni’s full commitment to the country’s operational activities, expressing his readiness to launch a new phase of investments aimed at increasing gas production in the country, taking advantage of the great exploration potential and existing facilities that guarantee access to local and European export markets.

In addition, the CEO of Eni and the head of the NOC discussed the implementation of projects related to renewable energy in the country.

Shakshak discusses road paving projects and fuel smuggling with dignitaries and wise men of the southern region

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The head of the Audit Bureau, Khaled Shakshak, met today, Thursday, with the dignitaries and wise men of the southern region and some components of the administrative authorities, to discuss the issue of contracts and suspended projects in the south, including projects to pave the main and secondary roads inside it, smuggling fuel and ways to eliminate this phenomenon that has spread for years.

Shakshak stressed the need for concerted efforts by all agencies in the state to eliminate this phenomenon that exhausts the national economy in Libya in general and the southern region in particular, and to move forward towards overcoming the difficulties and problems facing the southern region and the need to develop radical solutions to these problems to alleviate the suffering of the people the South.

Shakshak indicated that the matter requires activating a special tracking system for fuel distribution to ensure that it reaches the place designated for it, offering condolences and heartfelt sympathy to the people of the southern region for the victims of the Bent Bayah accident.

Al-Abed: We have formed a special committee to grant concessions and support the private sector

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The Minister of Labor and Rehabilitation, Ali Al-Abed, said that the Ministry of Labor and Civil Service organized the framework of the state’s administrative authority and released salaries and staffing, in addition to re-forming the Financial Releases Committee to consider the objectives of the requests submitted by employees who worked for years, and to reviewing all previous appointments decisions, whether they were From the Libyan Interim Government, the Libyan Transitional Government, or the Government of National Accord, and received by the formed committee for review and audit.

Al-Abed confirmed that the ministry had formed a special committee to grant concessions and support the private sector to reduce the large number of public sector employees. The Ministry of Administrative Affairs established departments in all organizational structures of the state, with the presence of large numbers of recruits demanding their suspended salaries from 2012 and 2014, and the government is responsible for applying the correct law towards them.

Al-Abed explained that a committee had been set up to follow up 150,000 employees in Fayyad Al-Malik to re-coordinate the accountability of their salaries and their resignations.

A committee was formed to review the staffing and job description, and the Audit Bureau addressed us with a communication from Prime Minister, Abdul Hamid Dbeibeh, to set a date for holding a meeting for joint cooperation between the regulatory bodies and the executive authority represented in the rights of national unity government and the Audit Bureau.

The Undersecretary of the Ministry of Social Affairs clarifies the latest developments regarding granting displaced families

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The Undersecretary of the Ministry of Social Affairs and Head of the Displaced Committee told Hakomitna platform that: “The rent allowance was paid for a period of six months, which was determined for all the displaced people of the Eastern region and Murzuq. The value of 1,000 dinars for each month was spent on a large group of displaced people for 6 months.”

He added: “The total number of the displaced people of the Eastern region reached 6,726, and for Murzuq there were 4,701 displaced families, bringing the total number of families registered with the Ministry of Foreign Affairs to 11,427.”

He explained: “The rest of the families who were not paid the rent allowance, 1929 families, while the families that received the grant were 9498 families, and we faced many problems such as errors in account numbers and errors in banks.”

Launching the Development Partners Forum – Libya in the capital, Tripoli

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Organized by the Ministry of Finance in cooperation with the World Bank Group, the work of the Development Partners Forum has been launched today, Wednesday, August 24, in the presence of the Minister of Social Affairs, the Minister of Finance, the Minister of Oil and Gas, the Economic and Social Development Council, and representatives of international partners, with the participation of a number of sectors and international organizations. During this forum, many files related to development were discussed, including community development

The Minister of Social Affairs confirmed the support of the Government of National Unity for development projects through the projects that it launched or re-launched in support of community development.

It also made it clear that cooperation should be built authentically through official channels and in accordance with the legislation and laws in force, and that the ministry launched many initiatives in this regard and extended bridges of communication with the authorities related to community development, including the cooperation agreement with the National Council for Economic and Social Development and other initiatives.

A fresh .. new start

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The video narrates the reintegration of Libyan fighters, who chose to cease hesitation and start a new life, far away from booming bombardment and war suffering. They are young people that returned from the battles to reintegrate into society.

The National Oil Corporation reveals the total local consumption of natural gas

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The National Oil Corporation revealed the total local consumption of natural gas, which amounted to one billion and 145 million cubic feet.

The total consumption of the General Electricity Company amounted to 989 million cubic feet, as well as the National Oil Corporation about 125 million, as well as the iron and steel complex and other small factories amounted to 13 million, in addition to the cement factories that amounted to 18 million.

Husni Bey: “It is unfortunate that Dbeibeh denies the reality of stagflation in Libya, because denying the crisis may be the way to economic collapse”

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Businessman Husni Bey said in a statement to our source on Sunday evening that it is unfortunate that the Prime Minister of the Government of National Unity, Abdul Hamid Dbeibeh, denies the reality of stagflation in Libya.

Husni Bey explained that the growth or decrease in the sale of foreign exchange is a secondary indicator and not a primary indicator for measuring growth or economic stagnation and inflation, adding that the sale of foreign exchange during the seven months of this year decreased by approximately 13% and did not rise, as Dbeibeh claimed, compared to the 2021 rate.

He continued by saying that “by comparing the month of July 2022 with the month of July of last year. We find that the decrease is close to 39%, indicating that the same rate of decrease applies to the sale of foreign exchange through “Visa, MasterCard and Western Union” cards used to cover “online” purchases, according to what Dbeibeh claimed.”

Bey concluded his speech by saying: “My advice to Mr. Dbeibeh is that acknowledging the existence of the crisis represents 50% of the solution.” On the other hand, the denial of the crisis, as Dbeibeh claimed and justified, may be the path leading to economic collapse despite the high rates of oil and gas exports, because the economy and its performance are not limited to the rates of oil production and export and oil revenues, not on the rates of selling foreign exchange.

The Minister of Finance agreed with Bashagha to allocate 2.5 million dinars to cover urgent needs in the Bent Baya region

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The Minister of Planning and Finance in the Libyan government, Osama Hammad, met with Representative, Al-Mahdi Al-Awar, and the Chairman of the Finance Committee in the House of Representatives, MP Al-Hadi Al-Saghir, and the Chairman of the Justice Committee in the House of Representatives, member of the Control Authorities Committee and MP, Jalal Al-Shuaihidi, to discuss ways to implement the Parliament’s decision (3) for 2022, given that the area of Bent Bayah is a disaster area.

It was agreed between Fathi Bashagha and Osama Hammad to allocate an amount of 2,500,000 from the miscellaneous item of the general budget for the fiscal year 2022 to cover the special and urgent needs in the Bent Baya region.