News

Libya sovereign fund flees office amid threats

Libya_mapThe Libyan Investment Authority (LIA) says it will abandon its head office in Tripoli after senior management suffered a number of security breaches. An announcement from the sovereign wealth fund stated staff had been threatened and abducted by rival armed gangs that patrol Tripoli. The fund did not reveal its new location. The LIA also said it had suspended the email accounts of its top executives, including its chairman Ali Mahmoud Hassan Mohamed, due to threats and online intimidation. “The LIA is faced with a series of violations and abuses due to blatant interference by armed members of the battalion charged with protecting the tower,” it stated. “The authority rejects these actions and announces the transfer of its headquarters from the Tripoli Tower as a result of security breaches.” The sovereign wealth fund, which holds around $66 billion in mostly frozen assets, has had a troubled existence since the fall of Muammar Gaddafi in 2011. It has endured international lawsuits over investments made during the Gaddafi era and internal power struggles between its senior executives. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.