Has PKIC’s interest rate arbitrage finally ended?
The years 2022 and 2023 marked a transformative period for Pakistan’s financial sector. Amid high policy rates and monetary tightening, banks and financial institutions experienced unprecedented growth and profitability. As previously reported by Profit, commercial banks have pivoted away from traditional lending practices. Surprisingly, this trend has extended beyond commercial banks, permeating sectors traditionally focused on underserved markets—areas often overlooked by mainstream financial institutions. A prime example is Pak Kuwait Investment Company (PKIC), Pakistan’s largest DFI.
Source:Libya Today
October 07, 2024 07:29 UTC
CAF Appoints Malawian Ref For Nigeria Vs Libya Game
The Godswill Akpabio Stadium in Uyo will host the 2025 Africa Cup of Nations qualification encounter between Nigeria’s Super Eagles and the Mediterranean Knights of Libya on Friday. Malawian-born referee Godfrey Philip Nkhakananga will be in charge of the event. Additionally, Nkhakananga’s fellow countrymen Clemence Kanduku and Joseph Nyauti have been named assistant referees 1 and 2, respectively, by the Confederation of African Football. Read Also: Ejuke In Osimhen Out As Eguavoen Finally Releases Squad For Libya GameKeabetswe Dintwa of Botswana will serve as the fourth official for the Matchday 3 match, which begins at 5 p.m. After two games, the Super Eagles have four points, currently leading Group D.Libya has one point from the same number of games, which puts them in last place.
Source:Libya Today
October 07, 2024 06:53 UTC
LOI Qundus Competition postponed
The Libya Olympiad in Informatics (LOI) announced on Saturday the postponement of the Qundus (Beaver) Competition for the year 2024-2025 to ensure maximum participation of students. The Ministry of Education said on its Facebook page, “The new date will be set during next November, to ensure not to be hold at the midterm exam schedule”. The competition brings together all levels, from basic to secondary education, males and females, and from various cities and villages, according to the ministry.
Source:Libya Observer
October 06, 2024 17:44 UTC
Fleeing Gunmen Who Attempted To Kidnap Delta Lawmaker’s Wife Killed – Police
The Delta State Police Command has confirmed the death of three suspected kidnappers who were involved in the attempted abduction of the wife of the member representing Warri South Constituency 1 in the State House of Assembly, Hon. According to a statement issued on Sunday by the State Police Public Relations Officer, SP Bright Edafe, said its operatives also recovered four AK47 rifles from the deceased suspects. Recall that suspected kidnappers had ambushed Mrs. Oruoye in attempt to kidnap her and in the process killed two mobile policemen and the driver of the lawmaker’s wife at Okoloba Junction along Jakpa Road in Effurun area of the city. However, irked by the incident, the state commissioner of police, Olufemi Abaniwonda, ordered his men to go after the fleeing suspects and ensure that they were arrested. The hoodlums immediately abandoned the vehicle shattered with bullets and escaped with bullet injuries.
Source:Libya Today
October 06, 2024 16:07 UTC
Tunisia's President Saied is poised to win a second term after cracking down on the opposition
Tunisia's President Saied is poised to win a second term after cracking down on the oppositionTunisia’s incumbent president says he will wait for official results before declaring victory while acknowledging exit polls showing him winning by a landslide
Source:Libya Today
October 06, 2024 13:39 UTC
Libya celebrate Osimhen’s injury, storm Uyo in private jet
“In addition to Osimhen’s injury, Orlando Pirates defender Olisa Ndah will also miss the two Libya matches due to injury. Ndah, who is considered one of the pillars of the Nigerian national team’s defence, played a decisive role in the recent match against Benin, as he helped keep his team’s goal clean. Their new coach, Nasser Al-Hadhiri, his assistant Akram Al-Hammami, and Abu Bakr Al-Hark have called up three players as replacements for key absentees. While Libya opened camp since Monday, Nigeria have yet to release the list of players for the double header, let alone call players to camp. Libya are rock bottom with one point from opening day’s 1-1 home draw against Rwanda and were edged 2-1 by Benin Republic in their second game in Ivory Coast.
Source:Libya Today
October 06, 2024 13:17 UTC
Libya cuts tax on foreign currency purchases
The speaker of Libya's eastern-based parliament issued a decision on Sunday to reduce the tax on foreign currency purchases from 27% — a rate set in March — to 20%, as confirmed by parliament spokesman Abdullah Bliheg to Reuters. The revenue generated from the reduced tax will be allocated to pay down public debt, a statement from the parliament speaker said, indicating a shift in how the funds will be utilized.
Source:Libya Today
October 06, 2024 13:15 UTC
30-Year-Old Man Stabs Newlywed Wife To Death
A 30-year-old man, Motunrayo Olaniyi, has allegedly stabbed his newlywed wife, Olajumoke, to death at Amazing Grace Estate, Elepe in the Ikorodu area of Lagos State. The incident was said to have occurred on Friday after a heated argument between the couple. He added that the suspect also inflicted wounds on himself after committing the act. “In the process, the husband reportedly stabbed the wife to death, locked her in the room, and set it ablaze, while he inflicted wounds on himself. According to him, a preliminary investigation later revealed that the suspect stabbed his wife during the altercation and inflicted minor wounds on himself.
Source:Libya Today
October 06, 2024 07:57 UTC
APP Wins 22 Council Seats In Rivers Council Polls, Awaits Results For Etche LGA
The Rivers State Independent Electoral Commission (RSIEC) has declared Action Peoples Party (APP) as the winner of the Saturday’s local government elections in the state. Justice Enebeli, however, said the electoral umpire would announce results for Etche local government council in a later date. However, not giving up the battle, Fubara directed his loyalists to defect to APP to contest the election. Meanwhile, the PDP and All Progressives Congress (APC) in Rivers have cautioned against the declaration of results of the LG elections. Tony Okocha, former Chairman of the APC Caretaker Committee in Rivers, also warned against declaring the results.
Source:Libya Today
October 06, 2024 07:37 UTC
Tax havens hampered efforts at finding Shaukat Ali's Vitals gains, experts tell court
“I had enough evidence in my possession to form the opinion which I expressed in my report,” replied the expert. “Paragraph…describes many different companies used in this scheme, related companies in which Shaukat Ali was a shareholder. “I don’t think it is the role of forensic accounts to approach the subject for documents,” Bradley replied. “Did you identify the amount that Shaukat Ali gained or received through concession funds to amount to €30 million? “It is not possible to establish [the full amount] based on the documentation available,” Bradley replied.
Source:Libya Today
August 09, 2024 14:27 UTC
‘Lilu King’ arrested in Paceville road-rage assault
Mohamed Ali Ahmed Elmushraty, the notorious Instagram-famous drug trafficking suspect better known as ‘Lilu King’ is believed to be in police custody once again, this time in connection with an alleged road rage assault in Paceville. A history of violenceElmushraty, a boxer, has had several run-ins with the Maltese criminal justice system over the years. After that incident, Al Musrati had initially fled the country but was arrested again in Malta in connection with an armed robbery the following October. in November 2016, when he was arrested at the Malta International Airport, shortly after his arrival on a flight from Tunis. The following year, he had been accused, together another man, of grievously injuring two other men in yet another Paceville incident involving a Samurai sword.
Source:Libya Today
August 09, 2024 13:03 UTC
Protests and Political Unrest Disrupt Libya's Largest Oilfield
While the prosecutor has ordered the “Oil Minister’s” arrest, it has been unclear for some time who is actually Libya’s oil minister in Tripoli. Abdul-Sadiq was only appointed as a temporary oil minister (he had been the deputy) when the Prime Minister suspended Minister Mohammed Oun from the position. While the prosecutor has ordered the “Oil Minister’s” arrest, it has been unclear for some time who is actually Libya’s oil minister in Tripoli. However, the PM then ordered Abdul-Sadiq to refuse to hand control back to Oun. CNOOC Ltd. announced a significant gas discovery in the Lingshui 36-1 field in the South China Sea, with reserves exceeding 3.5 trillion cubic feet.
Source:Libya Today
August 09, 2024 12:34 UTC
Men arrested after police discover kilo of heroin inside flat
Two men have denied charges relating to the discovery of a kilogram of heroin at an apartment in Kirkop. 44 year-old Ferdinand Onowo, a homeless man from Nigeria was arrested in connection with the seizure. Covert surveillance was put in place and spotted Onowo entering an apartment used by another known player in the drugs trade. After consulting with the duty magistrate, the police broke down the apartment’s door and discovered 1kg of heroin inside the flat. Onowo, who told the court that he was a professional footballer who now worked in construction, pleaded not guilty to the charges.
Source:Libya Today
August 09, 2024 12:08 UTC
The UK Announces Support for Sudanese Refugees in Libya
BIRMINGHAM, United Kingdom — In a press release published July 12, the United Kingdom (U.K.) government announced a more than $2 million support package for more than 150,000 Sudanese refugees in Libya. Fleeing WarThe plight of Sudanese refugees in Libya stems from April 2023, when war broke out in their home country. Though the region of Kufra in southeastern Libya has found itself particularly concentrated, the population of Sudanese refugees in Libya is spread throughout governmental buildings, rural farms and one official detention center. Aid EffortsMany organizations have stepped in to aid Sudanese refugees seeking safety in Libya. It will now help finance a crucial humanitarian response seeing to the needs of as many as 45,000 Sudanese refugees.
Source:Libya Today
August 09, 2024 10:01 UTC
Libya's Oil Minister Faces Arrest Over Corruption Charges
Libya's Oil Minister Faces Arrest Over Corruption Charges Political turmoil intensifies as Libya seeks to stabilize its oil sector amid rising corruption allegationsLast week was particularly tumultuous for Libya's oil sector, as scandal and political turmoil threatened to upend its already fragile governance structure. Prime Minister Abd Alhamid Aldabaiba found himself grappling with yet another scandal involving corruption charges against his oil minister. It’s noteworthy to realize the context behind the appointment of Abdel Sadig, who previously served as deputy to former Oil Minister Mohamed Aoun. Perhaps one of the most concerning aspects is the broader implication of corruption within Libya's oil sector, which, as the country sits upon Africa’s largest oil reserves, is critical both for its economy and global oil markets. While Aldabaiba’s administration attempts to navigate these treacherous waters, former Oil Minister Mohamed Aoun—previously sidelined—demands his reinstatement, asserting he was wrongfully dismissed.
Source:Libya Today
August 09, 2024 06:13 UTC