Libya Herald 69 خبر

Libya Ministry of Finance Reduces Customs Dollar Rate to 2.12

Customs Dollar rate used for calculating duties on imported goods reduced from LD 4.80 to LD 2.12 per dollar

The Tripoli based Libyan Ministry of Finance issued an official directive last Tuesday (3 November) to suspend the provisions of Resolution No. (160) of 2026, which concerns the regulation of the "Customs Dollar" exchange rate in Libya. The Ministry has set the customs dollar rate at 2.12 Libyan dinars per US dollar - down from LD 4.80 - for the purpose of calculating duties on imported goods—a temporary measure pending the resolution of existing issues.

Libyan Security Forces Intercept 15 Trucks Smuggling Subsidized Goods

21 trucks transporting subsidised goods slated for smuggling intercepted and referred to legal process

The Anti-Financial Crimes, Money Laundering, and Terrorist Financing (AFCMLTF) reported last Monday (2 November) that the Law Enforcement Department of the General Administration for Security Operations intercepted 21 trucks, along with their drivers, while they were transporting quantities of subsidized goods. The individuals and the seized items were referred to the AFCMLTF for the initiation of legal proceedings. Six trucks were released upon further investigation. Howeve…

Libyan Academy for Postgraduate Studies signs MoU with China-Arab Research Centre for Reform and Development

The President of the Libyan Academy for Postgraduate Studies, Ahmed Al-Duwaik, signed a memorandum of understanding with the China-Arab Research Centre for Reform and Development. The MoU aims to enhance academic, scientific, and technical cooperation through the teaching of the Arabic and Chinese languages. · Developing Chinese and Arabic language education through joint academic programmes between the Academy and the Centre. · Exchanging students and faculty members, organ…

Minister of Economy & Trade Abu Shiha discusses with Tunisian Minister of Trade & Export Development increased cooperation

Libya’s Tripoli based Minister of Economy and Trade, Suhail Abu Shiha, held discussions with the Tunisian Minister of Trade and Export Development, Sa...

Malta’s Camilleri Marine visits Tripoli Port to discuss establishing marine vessels safety equipment maintenance centre

The Libyan Ports Company reported yesterday that Kenneth Camilleri—Director of the Malta-based Camilleri Marine—visited the company’s branch at the Po...

Directional drilling & well re-entry by CAMCO & Baker Hughes help AGOCO bring well Z3HR-80 back online at 7,355 bpd

Libya’s National Oil Corporation (NOC) reported today that, in line with its strategies to increase production, the Arabian Gulf Oil Company (AGOCO) has achieved a new milestone by bringing well Z3HR-80, in the Majid field, back online at a rate of 7,355 barrels per day. This follows a 22-year hiatus during which it had been classified as a non-producing observation well. Test results indicate that the well is producing the 7,355 barrels of oil per day via natural flow, with…

NOC Chairman Suleiman meets Turkish Petroleum Corp’s CEO to discuss strengthening cooperation

The Chairman of the National Oil Corporation (NOC), Masoud Suleiman, posted on his personal social media page today that he met with Cem Ardem, CEO of...

Minister of Economy & Trade holds discussions with Sudanese, Nigerien and Chadian counterparts at Istanbul’s COMCEC 2026

Libya’s Tripoli based Minister of Economy and Trade, Suhail Abu Shiha, discussed with the Sudanese Minister of Industry and Trade, Mahasen Al-Yaqoub, the Nigerian Minister of Trade, Abdullah Sidou, and the Chadian Minister of Trade, Guibolo Mathieu, ways to organize and develop trade relations and regulate trade exchange between Libya and the three countries. This came during separate meetings held on the sidelines of the forty-second session of the COMCEC Conference in the…

House of Representatives consultative meeting discusses Libya’s current economic crisis

A consultative meeting was held today at the headquarters of the House of Representatives (HoR), attended by Speaker Al-Salheen Abdel-Nabi, to discuss the current economic crisis in Libya. The meeting was initiated and coordinated by the National Planning Council and attended by the Governor of the Central Bank of Libya, Fawzi Abu-Khazam; the Deputy Governor, Marei Al-Barassi. During the meeting, the HoR Speaker delivered an address in which he emphasized that national exper…

Libyan HoR Holds Consultative Meeting on Economic and Subsidy Reform

Libyan Iron & Steel Company discusses with US firm Midrex Technologies development of direct reduction plants

The Libyan Iron and Steel Company (LISCO) and the American firm Midrex Technologies, Inc. are exploring the development of direct reduction plants and the expansion of their production capacity. This came during a meeting held in Cairo today. LISCO said this comes as part of its ongoing efforts to upgrade its facilities and enhance its production capabilities, Midrex Technologies, Inc. is a world-leading direct reduction iron (DRI) technology provider and engineering company…

LISCO and Midrex Technologies Discuss Iron Production Expansion

Julyana Free Zone port receives 80 commercial vessels during October

Julyana Free Zone port reported today that it received 80 commercial vessels during October. The cargoes carried by these ships included containers, fuel, cement, grain, vehicles, and passengers, as well as shipments of iron, asphalt, and transit goods; additionally, some vessels stopped at the port solely for refuelling. Furthermore, the port recorded the arrival of 4 commercial vessels from China, handled by the "Bahhar Al-Alam" (World of Seas) agency, as part of internati…

National Mining Corporation calls for collaboration and investment after promising mineral indicators

The Al-Butnan branch (eastern Libya) of Libya’s National Mining Corporation has put out a call for collaboration and investment. It invites local and international companies—specializing in exploration, mining, mineral processing, and downstream manufacturing—to reach out and explore opportunities for collaboration. This includes conducting technical and exploratory studies, as well as developing investment projects based on the region’s mineral potential.

Libya's National Mining Corporation Seeks Partners for Al-Butnan

Governor of Central Bank of Libya, Abu Khazam, takes legal oath before House of Representatives

The new Governor of the Central Bank of Libya, Fawzi Abu Khazam, took the legal oath before the Speaker of the House of Representatives and several members of the House today. This action was taken in accordance with the House of Representatives' resolution dated 2 November 2, 2026, appointing him as Governor of the Central Bank of Libya, and serves to fulfil the legal requirements for him to assume his official duties. The CBL said this step comes at a critical juncture tha…

Fawzi Abu Khazam Takes Oath as Central Bank of Libya Governor

Libyan Business Council organises workshop on Islamic Sukuk and their role in financing

The Libyan Business Council (LBC)—in collaboration with Amwal Financial Brokerage—held a specialised workshop titled "Islamic Sukuk (bonds) and Their Role in Financing" at the LBC’s Tripoli headquarters. The workshop, held last Monday 2 November, was organized exclusively for LBC members as part of ongoing efforts to enhance understanding of modern financial instruments and to expand financing and investment opportunities within the private sector. The workshop covered the c…