In a statement published on its official Facebook page, Mellitah Oil and Gas Company announced on February 29, that an Amsterdam court in Holland invalidated a lawsuit brought by the Pacific Offshore Holdings Company (POSH) against them in an attempt to seize their bank accounts. Mellitah stated that the court …

Today, the dollar exchange rate witnessed a rise in the parallel market with regard to the Libyan Dinar. The dollar in Tripoli today reached 4.65 LYD, whereas it recorded yesterday 4.43 LYD, and recorded 4.82 LYD in Benghazi.

The dollar was on the back foot on Monday as growing expectations of U.S. interest rate cuts to cushion the impact of the coronavirus stemmed some safety flows into the greenback. Yet, the euro last traded 0.3% firmer at a month-high of $1.059, while the Australian dollar rose 0.4% to $0.6531, and the pound  e…

Today, oil prices rebounded more than $1 a barrel on hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak. Brent crude last traded at $51.3 per barrel, while U.S. crude at $46.1 per barrel.