Market Morning: One Step Closer to Full Blown Trade War, Libya, Tesla On Fire
From Spat to War, Trump Keeps Digging Self Out of Trade HoleUp until today, the tit for tat trade spat between the United States and China has been child’s play. But now, with US President Donald Trump bringing out the heavy artillery, threatening a 10% tariff on $200 billion in Chinese goods, it could erupt into a full blown trade war. See: BitGrail Hits Brick Wall After Legal Spat Led to Bitcoin SeizureIs OPEC Up To Something naughty in Lybia? Square Gets New York Bitcoin LicenseSquare (NYSE:SQ), the pay app company, just got a bitcoin license from the Department of Financial Services in New York. This means that users of the square app in New York can send bitcoin to one another.
Source:Libya Today
June 19, 2018 11:26 UTC
Video: Libyan Coast Guard rescues 115 migrants off Mellitah
The Libyan Navy announced on Monday the rescue of 115 illegal migrants and the recovery of 5 dead bodies off the western coast of Libya. The Libyan Navy clarified in a statement that a Coast Guard patrol from Tripoli managed to pick up Sunday 115 illegal immigrants, among them, were 2 children and 22 women, in addition to 5 bodies, including 2 women and 3 men, who were on board a rubber boat north of Mellitah district, eastern Zuwara in western Libya. The Navy pointed out that the immigrants were from 10 African countries in addition to 4 from Pakistan. The statement also explained that the migrants were found in a bad condition due to the high waves that led to the sinking of the boat, leaving those aboard drifting in the sea.
Source:Libya Observer
June 19, 2018 10:52 UTC
6,600 “irregular” immigrants in Murcia to be re-issued with health cards
What this change means is that almost 6,600 “irregular” immigrants in the Region will once again be issued with a health service card, just like other residents, as soon as the 2012 law which effectively removed them from the public health service is repealed. The new government’s decision thus reverses the departure from the policy of universal health care which was announced six years ago in the midst of drastic spending cuts, and meets with the approval of the World Health Organization and numerous other bodies. The SMS (regional health service of Murcia) also currently includes on its registers 4,876 children aged under 18, 190 pregnant women and 474 asylum seekers, all of whom are provided with health care due to exceptions established by the law introduced in 2012. This means that in total the health service is “over-loaded” to the tune of almost 13,000 patients, a figure which might provide fuel to the often-aired argument that immigration, however desirable on humanitarian grounds, should be limited. Follow Murcia Today on Facebook to keep up to date with all the latest news, events and information in the Region of Murcia and the rest of Spain: https://www.facebook.com/MurciaToday/
Source:Libya Today
June 19, 2018 10:41 UTC
Internet services interrupted in central, southern and eastern regions
The General Authority for Communications and Informatics (GACI) announced Monday the gradual return of Internet and telecommunications services after an interruption that lasted for hours in most parts of the eastern, southern, and central regions. The GACI said that the interruption was caused by a cut in the fibre optic cable in Ghanema district near the city of Khoms in the western region. The GACI added that the services were restored gradually after a maintenance work carried out by Hatif Libya Company.
Source:Libya Observer
June 19, 2018 10:41 UTC
Oil crescent fighting will lose Libya billions in oil revenues: NOC
Oil crescent fighting will lose Libya billions in oil revenues: NOCBy Sami Zaptia. London, 19 June 2018:Libya’s National Oil Corporation (NOC) announced yesterday that the fighting that erupted last Thursday at the country’s eastern oil crescent will cost Libya ‘‘billions’’ in lost oil revenues. The fighting and destruction has resulted in a 400,000-barrel reduction of crude oil storage capacity (from 950,000 barrels to 550,000 barrels). Prior to the attack, Ras Lanuf operated five crude oil storage tanks. Meanwhile, the Libyan Red Crescent reported that 28 dead bodies were received from the fighting.
Source:Libya Herald
June 19, 2018 10:30 UTC
Migrant boat turned away by Italy arrives in Spain
The Aquarius rescue ship arrives to port carrying some 629 migrants, in Valencia, Spain, June 17, 2018. Red Cross Secretary General Elhadj As Sy was also in Valencia for the arrival. "No human being is 'illegal', and people who need help should receive help," added Sy. "CALM AND PLEASED"Doctors Without Borders tweeted a photo of one of its team telling the people on board what they could expect. Spain's coast guard rescued almost 1,000 people on Friday and Saturday.
Source:Libya Today
June 17, 2018 10:52 UTC
DR Congo’s mining industry hobbled by poor infrastructure, tax hike
LUBUMBASHI: Feasting on a global demand for cobalt and copper, the mining industry in the Democratic Republic of Congo is flourishing — but two clouds are spoiling its sunlit future. “We have an estimated potential of 100,000 MW/year but only produce 3,000 MW/year,” said Michael Shengo chief of staff for the provincial mining minister for Haut-Katanga earlier this week as he opened DRC Mining Week, an annual conference in the southeastern town of Lubumbashi. “Our objective is to start the Inga project this year. Poor global rankingAnother challenge for the mining industry, which represents 20 to 25% of the country’s GDP, is a new fiscal law that raises taxes. “I am convinced that we are entering a period for the mining industry that will be profitable for all,” said Yuma, “but only if the relationship between foreign investors and the DRC is more equitable.
Source:Libya Today
June 17, 2018 10:07 UTC
Sea convoy reaches Spain as migration debate roils Europe
The Italian coast guard vessel Dattilo was the first of the boats in the convoy bearing 630 migrants to touch land, pulling in just before 7 a.m. The rescue ship Aquarius came in four hours later carrying another 106 migrants. After days of bickering and food and water running low on the ship, Spain stepped in and granted the rescue boat entry with a plan called "Operation Mediterranean Hope." Meanwhile, several hundred more migrants were aboard an Italian coast guard vessel off Sicily on Sunday. Salvini, who heads the right-wing League party, said that if France, Malta and Portugal also open their ports to migrants rescued from smugglers' unseaworthy boats, "we'll be happier."
Source:Libya Today
June 17, 2018 08:33 UTC
Italy, France, express support for 'asylum centres' in countries of departure
Italy and France have expressed their support for the setting up of EU "asylum centres" in countries where many migrants begin their journeys to Europe. At the moment, the EU migration system says that asylum seekers must apply for protection in the country they first arrive in within the EU, with few exceptions - under a law known as the Dublin regulation. Conte and Macron have now agreed the current system must be reformed. Macron proposed building migration centres in countries where the migrants embark on their dangerous sea crossings to Europe, including Libya. Conte, the head of Italy's new populist coalition government, agreed with the plan, calling for widespread reform of the current system.
Source:Libya Today
June 16, 2018 06:56 UTC
Libya strongman's jets strike rivals targeting oil terminals
Fighters on Thursday attacked two oil terminals at Ras Lanuf and Al-Sidra held by Haftar's group, inflicting fresh disruption on an industry that forms the chaos-hit country's economic backbone. The head of Libya's National Oil Company (NOC) blamed Ibrahim al-Jadhran, leader of a group opposed to Haftar that for years blocked the oil facilities, for the attack and said his forces had seized both sites. The two terminals in eastern Libya had already been severely damaged in clashes between the two groups in 2016 and 2017. The attack on the oil facilities comes after feuding Libyan leaders, including Haftar, agreed to try to hold elections this December in line with UN plans to stabilise the country. Haftar supports a rival administration in the east opposed to the weak internationally-backed government in Tripoli.
Source:Libya Today
June 15, 2018 21:56 UTC
Macron seeks common ground with Italy on immigration
"I hope deeply that France and Italy will work hand-in-hand, together, to propose and contribute European solutions, in particular with partners like Spain and Germany," Macron said during a news conference with Conte alongside. After Italy demanded an apology, Macron said he had not meant to offend "Italy and the Italian people". Immigration has increasingly defined politics across the European Union, from France and Germany to Hungary, Italy and Austria. "Italy has a head of government, France has a head of state, Germany has a head of government. He said he "agreed with the words of my friend Macron" regarding the need for an EU-wide approach to reforming the rules on immigration.
Source:Libya Today
June 15, 2018 18:22 UTC
240,000 Bpd Offline Following Clashes In Libya
Continuing clashes between the Libyan National Army and rival militant groups have cut Libya’s oil production by 240,000 bpd, prompting the shutdown of Libya’s two biggest oil ports, Es Sider and Ras Lanuf. Reuters quotes sources from the military as saying the LNA had pulled out of both ports, which is bad news for the security of exports. The National Oil Corporation has evacuated its personnel from the ports and has said that the production loss could reach 400,000 bpd if the ports remained shut down. In May, Ras Lanuf exported 110,000 bpd on average, with shipments leaving from Es Sider at 300,000 bpd. Oil fields have not yet been affected, but the closure of the two ports is enough to wreak havoc on Libya’s oil industry.
Source:Libya Today
June 15, 2018 15:56 UTC
Libya - Statement by the Ministry Spokesperson (14.06.18)
They must remain under the control of the National Oil Corporation (NOC) and their exploitation must benefit all Libyans. France is determined to see a sustainable political solution in Libya through the holding of national, presidential and legislative elections. A timetable was agreed for these elections at the Paris Conference of May 29, in the presence of the UNSRSG and the international community. As stated in the political declaration, anyone hindering this process will be held accountable. France reiterates its full support for the mediation effort conducted by the UN Secretary-General’s special representative, Ghassan Salamé, to swiftly achieve an inclusive political solution, national reconciliation, and the unification of all of the country’s institutions under a civilian authority.
Source:Libya Today
June 15, 2018 09:45 UTC
Attack shuts major Libyan oil ports, slashing production
BENGHAZI, Libya/LONDON (Reuters) – The major Libyan oil ports of Ras Lanuf and Es Sider were closed and evacuated yesterday after armed brigades opposed to the powerful eastern commander Khalifa Haftar stormed them, causing a production loss of 240,000 barrels per day (bpd). At least one storage tank at Ras Lanuf terminal was set alight following the early morning attack, an engineer told Reuters. The LNA took control of Es Sider and Ras Lanuf along with other oil ports in Libya’s oil crescent in 2016, allowing them to reopen after a long blockade and significantly lifting Libya’s oil production. Repeated previous attempts by the LNA’s opponents to retake the oil crescent have failed, and it is unclear how much military and local, tribal support Jathran or BDB forces currently have. Crude exports from Ras Lanuf stood at 110,000 bpd in May, while exports from Es Sider were around 300,000 bpd, according to oil analytics company Vortexa.
Source:Libya Today
June 14, 2018 23:37 UTC
News Recap - Thur, June 14, 2018
Here is a recap of Thursday’s news headlines from The Libya ObserverExchange Rates http://lyo.ly/5ac7 Libyan political parties urge UNSMIL to weigh in on frozen assets use http://lyo.ly/7sfLibya's NOC declares force majeure on Ras Lanuf and Sidra oil terminals as Jodran forces advance eastward http://lyo.ly/7shForeign ministry rejects UK endeavours to take Libyan frozen assets http://lyo.ly/7saJodran armed groups strike again in the oil crescent http://lyo.ly/7s5UN concerned over human rights abuses in Derna http://lyo.ly/7seTawergha IDPs continue their return to hometown http://lyo.ly/7s9Proposals to form new unity government come to light http://lyo.ly/7s8Motorists crowd at fuel station ahead of Eid http://lyo.ly/7s7Calls to sack Sirte mayor mount http://lyo.ly/7s6Arab human rights group voices concern over Derna offensive http://lyo.ly/7s4
Source:Libya Observer
June 14, 2018 20:03 UTC