Libyan Government Reopens Stock Market, Aims for Economic StabilityIn a determined move towards economic revival, the Prime Minister of Libya’s Government of National Unity, Abdul Hamid Dbeibah, has voiced the government’s resolve to surmount the substantial economic challenges beleaguering Libya. He expressed these sentiments during the recent reopening of the Libyan stock market in Tripoli and Benghazi. He noted that the current period of security stability in the country makes it the perfect time for the reopening of the stock market. Dr. Bashir Ashour, the Chairman of the Libyan Stock Market, echoed Dbeibah’s commitment. Meeting International StandardsMahmoud Wefati, the head of the Libyan Stock Market Authority, expressed gratitude for the government’s facilitation in reopening the market.

Echoes of Independence: Libya at 72On this day, seventy-two years ago, the United Nations issued a formal document marking Libya’s attainment of legal independence, a milestone that carried the echoes of blood, tears, and revolutionary fervor. A truly independent nation is not only characterized by an independent populace but also by a robust government, constitutional institutions, protective laws, and a judiciary with constitutional immunity. Regrettably, Libya, at present, lacks these essential elements, suggesting a need to re-establish its independence. The Path ForwardAs Libya marks its 72nd independence anniversary, the country must look towards its true patriots, who comprehend that an independent nation is strong, just, wealthy, dignified, and beneficial for all. It is these patriots who, like the ancestors of the country, will ensure that the principle of Libyans governing Libya is upheld, steering the nation towards a future of unity, strength, and true independence.

Marking the 72nd anniversary of Libya’s independence yesterday, UNSMIL bemoaned the fact that Libya has failed to hold elections for the second year in succession. The international community also needs to stand united in word and deed and urge Libyan stakeholders to choose the path of peace, unity, and democracy. And on a broader level, has the international community failed the Libyan people? The question must also be asked: Does the international community really want Libyan elections to be held, or are they just paying lip service to the idea to appease the Libyan public? Are the international community reverting to form, preferring stability at the expense of an unknown result from elections – stability for their own national interests rather than prioritising the national interests of Libya?

Saddiq Kabeer, Governor of the Central Bank of Libya, chaired an internal meeting today with “relevant departments of the bank to discuss the adoption of the estimated budget for 2024 ,” according to a brief statement by the bank.

Libyan Islamic Bank (LIB) has partnered with Backbase, a Dutch financial technology company that provides engagement banking for financial institutions, “to streamline its customer service operations and enhance its customers’ digital banking experience,” according to a statement by the Dutch company. The initiative to revamp LIB’s existing mobile app for retail customers and introduce new digital apps for business users. “This move is expected to significantly reduce friction in customer onboarding and servicing processes, thereby promoting a smoother, more intuitive banking experience. Backbase stands out as a market leader with top-notch innovative digital platform capabilities, making it a preferred choice for this partnership,” said Backbase. This partnership signifies our commitment to providing our customers with more streamlined and efficient banking solutions.

The Attorney General’s Office announced last Saturday that the Judicial Control Officer at the Customs Authority in Benghazi and another person who bribed him were held in detention. Their detention was in connection with the case of the Judicial Control Officer allowing a container later found to be containing 208,000 narcotic pills through the port of Benghazi without subjecting it to the required inspection.

The Minister of Economy and Trade in the Tripoli based Libyan government, Mohamed Al-Hwej, issues a decision (No. Decision 485 had obliged all importing companies to place labels/data on supplied products on the inner and outer packaging of the imported commodity in Arabic. The Ministry of Economy said the suspension is to give a formed committee time to complete its review of the labelling decision in accordance with the proposals of the Libyan Business Council (LBC) and the Union of Chambers of Commerce and Industry. Importers objected to regulation changeIt is worth noting that the LBC / a group of leading importers had threatened to take the Economy Ministry to court citing the short lead time given to importers / their international suppliers to change labelling to Arabic. Some importers said some international manufacturers would not be prepared to change labelling just to suite the Libyan market.

The civil rescue ship Sea-Watch 5 has rescued 118 people from distress at sea in its first deployment in two different rescue operations. Many of those rescued are suffering from exhaustion, dehydration, and chemical burns caused by oil-seawater mixtures that form in the boats. The Sea-Watch 5 is currently the only rescue ship in the area. “There is no silent night when people have to try to flee across the sea in search of safety. “We are currently the only rescue ship in the area and are being sent to a port 1,150 kilometres away.

Libya Braces for Cold Weather: Implications and PreparationsThe National Meteorological Center in Libya has forecasted a significant drop in temperatures across the majority of the country. This weather forecast is based on meteorological data and models that meticulously analyze atmospheric conditions to provide the public with timely and accurate weather information. The anticipation of cold weather in Libya has implications on health, transportation, and agriculture. Expectations and PreparationsSuch cold weather forecasts are crucial as they help individuals and authorities prepare for potential impacts on daily life. Transportation could also be affected with possible delays or disruptions due to adverse weather conditions, emphasizing the importance of travel plans being made with the weather conditions in mind.

Hassituha (You Felt It), a mostly silent play from eastern Libya, symbolises both the country’s divisions between west and east, and the rebirth of Libya’s National Theatre Festival, which staged a comeback this week in Tripoli after a 15-year hiatus. Hassituha, performed at Tripoli’s Scouts Theatre by a group who travelled from Marj in eastern Libya, was well received by an audience of more than 1,000 people. But Milad al-Hasadi, head of Derna’s National Theatre, expressed hope for Libya’s future. “Today we are here burdened, it is true, with wounds, pain and loss, but we are optimistic for our country and its artists who succeeded in reviving the national theatre”, said Hasadi. Abdel Basset Buganda, undersecretary of the Libyan culture ministry, told AFP that Libya’s theatre had gained lasting momentum.

Its distinctive visual language punctuates a committed, star-making performance from Dokhei, who crafted a character that won’t be forgotten. ‘Hajjan’Director: Abu Bakr ShawkyStarring: Omar Al-Atawi, Toleen Barbood, Ibrahim Al-HasawiIf there’s one Saudi film from 2023 that’s easiest to recommend to people of all ages, it’s “Hajjan,” the latest from acclaimed Egyptian filmmaker Abu Bakr Shawky. The Karthoum-set story follows a woman from the country’s north named Mona, who hires a young mother named Julia to be her live-in maid. As their lives become entangled over the next five years, the lies only multiply, threatening to destroy each of their lives forever. As she unravels the truth, the film becomes an effective mystery as well as a stirring exploration of Moroccan society.

The General Electricity Company of the parallel government has announced that the cities of the eastern region had entered a state of complete darkness. The company's media committee explained, on its official Facebook page, that a tremor in the western region's power network led to the disconnection of the lines between the western and eastern wings of the network, pointing out the return of the capacity of the eastern network to 380 MW. The parallel government said that work was underway to gradually restore electricity to all regions and cities by the company’s technicians and engineers. A parallel government statement stated that; “Minister of Electricity and Renewable Energy, Awad Al-Badri, followed the measures for gradually returning of electricity to some regions and cities, successively, after a direct call he received from Prime Minister, Osama Hammad.”

Libya Braces for Cold Weather: National Meteorological Center’s ForecastLibya’s National Meteorological Center has issued a weather forecast predicting a drop in temperatures across the majority of the country, with rain expected in the northwest due to a depression accompanied by a cold air mass. This prediction suggests a potential shift in the current climate that could impact daily life and activities across various sectors including agriculture, transportation, and public safety. Forecast Details and ImpactThe 14-day forecast for Libya indicates temperatures fluctuating between 65°F to 69°F, with hourly updates on weather conditions, including humidity levels and wind speeds. Weather’s Role in Public Safety and PlanningWeather forecasts play a pivotal role in public safety and planning, guiding decisions for residents, agriculture, and transportation services. A significant change in weather patterns, as predicted by the National Meteorological Center, necessitates proactive measures from individuals, businesses, and government agencies to mitigate potential disruptions.

(MENAFN- African Press Organization)Download logoToday is the 72nd anniversary of Libya's independence, on which the United Nations Support Mission in Libya (UNSMIL) extends its heartfelt congratulations to the Libyan people. Libya has now in place a constitutional and legal framework for elections which the High National Election Commission considers technically implementable. However, laws alone cannot lead to successful elections which can only take place when Libyan stakeholders are genuinely committed to creating the necessary conditions for their successful implementation. The international community also needs to stand united in word and deed and urge Libyan stakeholders to choose the path of peace, unity, and democracy. Distributed by APO Group on behalf of United Nations Support Mission in Libya (UNSMIL).

The Libyan Finance Minister, Khaled Al-Mabrouk, and his Italian counterpart Giancarlo Giorgetti held a meeting in Tripoli on Friday. The two discussed various topics including the reactivation of the Italian-Libyan Joint Committee and the agreement to avoid double taxation between the two countries. The parties also examined possible tools for cooperation in the training of customs and coastal protection personnel, as well as in the fight against money laundering. Al-Mabrouk welcomed the resumption of Italian entrepreneurial activities in Libya, in particular investments in clean energy production projects.