Libya News

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund, announced that, new talks will begin with Egypt in the coming weeks and preparations are being made for the two delayed reviews.

Azour said in statements published on the Al Arabiya Business website on Thursday, that the challenges that Egypt went through in 2023 may require additional financing, pointing out that the International Monetary Fund’s program with Egypt was established on the foundations of Egyptian policy that aims to maintain stability, address the problem of inflation, and protect the economy from shocks.

He added, that additional financing for Egypt is one of the matters on the table, given that additional challenges require additional financing, pointing out that financing is linked to the implementation of economic reforms, their pace and speed, their positive impact on the Egyptian economy and the financing needs of the economy.

“We are now in the review stage, and we are looking at
all matters, including financing needs, part of which will be from the Fund and part of it from other sources.” He continued

He explained that the program with Egypt is medium-term and aims to raise the competitiveness of the Egyptian economy and reduce the size of the public sector in favor of the private sector, which creates more job opportunities. It also aims to address imbalances and curb inflation.

Source: Libyan News Agency

Oman oil price (February delivery 2024) today reached 79 US Dollars, comprising a drop by 1.24 US Dollars from the price of yesterday (Wednesday), which stood at 80.24 US Dollars.

The average price of Oman oil (December delivery 2023) has stabilized at 89.79 US Dollars per barrel, thus 2.98 US Dollars per barrel lower than November delivery 2023.
Source: Oman News Agency

Muscat Stock Exchange (MSX) general index (30) today lost (33.9) points, comprising a drop by (0.75%) to close at (4485.49) points, compared to the last session, which stood at (4519.42) points.

The trading value today stood at (RO 6,910,992), comprising a drop by (5.4%), compared to the last session, which stood at (RO 7,308,915).

The report released by MSX pointed out that the market value went up by (0.147%) to reach about (RO 23.72) billion.

The report added that the value of shares bought by non-Omani investors reached (RO 1,356,000), comprising (19.63%). The value of shares sold by non-Omani investors reached (RO 4,183,000), comprising (60.52%). The net non-Omani investment decreased by (40.90%) to (RO 2,826,000).
Source: Oman News Agency

The Ministry of Labour today felicitated nine students from the Sultanate of Oman who emerged as winners of Huawei Information and Communications Technology (ICT) Competition for the Middle East and Central Asia 2023-2024.

The ICT contest saw the participation of more than 1,000 competitors who qualified within their local communities’ communications networks, e-clouds and cloud computing.

The ceremony was held under the auspices of Sayyid Salim Musallam Al Busaidi, Undersecretary of the Ministry of Labour for Human Resources Development.

Professors at the University of Technology and Applied Sciences and the National University of Science and Technology were also honoured in appreciation for their efforts to help nurture and refine the skills of young students and assist in grooming future ICT leaders.
Source: Oman News Agency

The Africa Investment Portfolio welcomed the reopening of the Libyan stock market, considering it a historic event that reflects the development of the Libyan economy and its movement forward.

The Africa Investment Portfolio explained through its Facebook account that opening the stock market is an important step in promoting investment and promoting economic growth in Libya, noting that the market is an important means of supporting and enhancing investment and developing wealth through trading the shares of companies listed in it.

The institution added that the stock market contributes to strengthening the role of the private sector in the country and enhancing its position, and provides opportunities for individual and collective ownership. In addition, it contributes to diversifying the economy and developing it in an orderly manner under transparent supervision and oversight.

They expressed their confidence that the stock market will provide new and exciting opportunities for local and foreign invest
ors alike, and this step will contribute to enhancing transparency and improving the ability to attract capital and provide liquidity to companies and financial institutions.

They also stressed that the stock market will be a strong catalyst for the development of the financial sector and enhance confidence in the Libyan economy, and will contribute to providing new job opportunities and enhancing economic and social stability in the country.

The portfolio called on all investors, companies and financial institutions to take advantage of this unique opportunity and participate in the development of the stock market.
Source: Libyan News Agency

Oman Post, a member of Asyad Group, unveiled a joint commemorative stamp, honouring fraternal ties between the Sultanate of Oman and the Kingdom of Saudi Arabia.

The main image, comprising photos of the leaders of both countries and a palm tree in the centre, symbolizes the two nations’ thriving partnership.

A unique feature of the stamp is a digital screen with red spots representing the capitals, Muscat and Riyadh, as well as figures depicting the two countries’ long-term future visions: Oman Vision 2040 and Saudi Vision 2030.

The stamp also illustrates the newly opened 725 km Empty Quarter Road (Rub-el-Khali) highway, a direct route linking Oman to Saudi Arabia. The road emphasizes the common strive to facilitate commercial and cultural exchange. It symbolizes economic prosperity and urban growth.

The airplanes on top represent the advanced cooperation between the two countries.

Sheikh Ibrahim Sultan Al Hosni, Acting CEO of Oman Post and Asyad Express, said, ‘The issuance of the joint postage stamp
constitutes a manifestation of the strong Omani-Saudi bonds that are deep-rooted in history, as well as the two countries’ aspirations for a future of further progress and prosperity.’
Source: Oman News Agency

The Africa Investment Portfolio welcomed the reopening of the Libyan stock market, considering it a historic event that reflects the development of the Libyan economy and its movement forward.

The Africa Investment Portfolio explained through its Facebook account that opening the stock market is an important step in promoting investment and promoting economic growth in Libya, noting that the market is an important means of supporting and enhancing investment and developing wealth through trading the shares of companies listed in it.

The institution added that the stock market contributes to strengthening the role of the private sector in the country and enhancing its position, and provides opportunities for individual and collective ownership. In addition, it contributes to diversifying the economy and developing it in an orderly manner under transparent supervision and oversight.

They expressed their confidence that the stock market will provide new and exciting opportunities for local and foreign invest
ors alike, and this step will contribute to enhancing transparency and improving the ability to attract capital and provide liquidity to companies and financial institutions.

They also stressed that the stock market will be a strong catalyst for the development of the financial sector and enhance confidence in the Libyan economy, and will contribute to providing new job opportunities and enhancing economic and social stability in the country.

The portfolio called on all investors, companies and financial institutions to take advantage of this unique opportunity and participate in the development of the stock market.
Source: Libyan News Agency