Category: In The Media
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“Nobody touches Libyan funds until there is a constitution and an elected government!” Omar Khattaly explains why UN should prevent the thawing of LIA assets abroad
By Vanessa Tomassini. While protests rage in Libya over dire economic situations and widespread corruption of state officials, on August 4, Ali Mahmoud Hassan Mohamed, chairman of the Libyan Investment Authority (LIA), following consultations with the head of Presidential Council of the Government of National Accord (GNA) Fayez al-Serraj, announced that the government-managed sovereign wealth…
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The Role of State-owned Enterprises in Economic Recovery and Growth
By Masinessa “Omar” Khattaly Even though the first thoughts that come to many when hearing the words “state-owned” next to “economic recovery” are socialism, government control and bureaucracy, according to accounting firm PwC, the proportion of State-owned Enterprises (SOEs) among the Fortune Global 500 grew from 9% in 2005 to 23% in 2014. One can only pause and…
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Norway takes money from its ‘rainy day fund’ for the first time as the low oil price hits home
Norway has taken money from its sovereign wealth fund for the first time since it was set up in 1996. Local newspaper Dagens Naeringsliv said that 6.7 billion kroner, or $780 million, was withdrawn pay for public spending. Norway usually pumps 200 billion kroner into the account every year. The reversal of fortunes is a signal that the…
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Norway takes money from its `rainy day fund`
Azerbaijani Vision Norway has taken money from its sovereign wealth fund for the first time since it was set up in 1996. Local newspaper Dagens Naeringsliv said that 6.7 billion kroner, or $780 million, was withdrawn pay for public spending.
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Norway takes money from its ‘rainy day fund’ for the first time as the low oil price hits home
Hazel Sheffield Norway is not the only oil-reliant nation to turn to its sovereign wealth fund to plug the gap in oil revenue Rex Norway has taken money from its sovereign wealth fund for the first time since it was set up in 1996. Local newspaper Dagens Naeringsliv said that 6.7 billion kroner, or $780 million,…
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Oil Has Sovereign Wealth Funds Hitting Sell Button
Countries from Norway to Russia to Saudi Arabia have begun drawing down their reserve funds to plug budget gaps and defend currencies. Jess Delaney The last thing Libya needs is low oil prices. Racked by a civil war that’s ground the economy to a halt, the nation, which holds the largest proven crude reserves in…
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Oil prices & the impact on Sovereign Wealth Funds Libya as a case
By Omar Khattaly: The drop in oil prices in the last 12 months has taken markets and investors by surprise. State institutions such as Sovereign Wealth Funds (SWF) have been affected and state budgets have suffered. SWF will grow slowly and in many cases will see some of their assets declining in value or being…
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Oil prices & the impact on Sovereign Wealth Funds – Libya as a case
Libya Observer By Omar Khattaly The drop in oil prices in the last 12 months has taken markets and investors by surprise. State institutions such as Sovereign Wealth Funds (SWF) […]
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Turks, Europeans Lead Charge On Libyan Investment
By Peter Kenyon Originally published on November 9, 2011 5:53 pm Libya may be months from a new government, but the still-infrequent international flights to Tripoli are packed with businesspeople looking to land contracts with this oil-rich North African state. The Turks and Europeans appear to be moving quickly, while the Americans seem to be…
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Turks, Europeans Lead Charge On Libyan Investment
Peter Kenyon Libya may be months from a new government, but the still-infrequent international flights to Tripoli are packed with businesspeople looking to land contracts with this oil-rich North African state. The Turks and Europeans appear to be moving quickly, while the Americans seem to be several steps behind. On one recent afternoon, the plush…