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  • Algeria

    European Union Delegation Accuses Algeria of 'Extorting' Businesses – Morocco World News

    Algeria and China Sign 15+ Partnership Deals – Energy Capital & Power

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    Algeria says it contains wildfires, no injuries – Middle East Monitor

    Nigeria's Tinubu to meet US corporate executives while at UN General Assembly – Yahoo Finance

    Russian general with Wagner ties reappears in Algeria – Macau Business

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    US urged to withhold military aid to Egypt in wake of Bob Menendez charges – The Guardian US

    blinx: New digital media hub for Middle East's youth – Dailynewsegypt – Daily News Egypt

    Egypt, Jordan and Iraq FMs discuss economic, political ties – Arab News

    All 120 workers rescued after Nile cruise ship accident in Egypt – Arab News

    Egypt's trade with G20 countries hit $88 bln in 2022 – Economy … – Ahram Online

    Shell Egypt hosts local Shell Eco-Marathon for Egyptian student … – Daily News Egypt

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  • Libya

    64 Palestinians killed in Libya's devastating floods – The Business Post

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    Eastern Libyan government calls for international reconstruction … – Libya Herald

    What Caused the High Death Toll From Libya's Floods? – Bloomberg

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    United Kingdom (UK) ramps up vital life-saving support for Libya – ZAWYA

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    • Morocco

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      LG Chem pivots to LFP with Huayou for Morocco plant – The Korea Herald

      Another magnitude earthquake hits Morocco – Blueprint … – Blueprint Newspapers Limited

      AfDB, EBRD Collaborate to Support SMEs in Morocco, Tunisia, Egypt – Morocco World News

      Your Daily Phil: Rosh Hashanah in quake-ravaged Morocco + Patrol … – eJewish Philanthropy

      Hyundai Motor Group donates $1.1M to aid Morocco and Libya – The Korea JoongAng Daily

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        13 Ugandans abducted by South Sudanese authorities released – Independent

        Uganda: South Sudan President Salva Kiir Jets in Uganda for a One … – AllAfrica – Top Africa News

        MC Srebrenica published Reports on War Crimes in Ukraine, Ethiopia, Syria and South Sudan – Sarajevo Times

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        Civil-military dialogue calls for forgiveness, reconciliation in Yei – Sudan Tribune

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          Nearly 2 million people in Afghanistan face acute food insecurity: UN – Business Standard

          Ethiopia, Egypt, Sudan resume Nile dam talks – Arab News

          Sudan Situation Report: Aid Agencies Access and Security Risk … – ReliefWeb

          Head of Sudan's Sovereign Council holds talks with UN, ICC leaders in New York – Middle East Monitor

          QALA For Financial Investments : Qalaa Holdings 2Q23 Business … – Marketscreener.com

          Chad/Sudan: International Committee of the Red Cross (ICRC) facilitates release of 30 children previously detained in relation to conflict; ICRC president visits eastern Chad – ZAWYA

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            Tunisia cartoonist freed after arrest for drawings – BusinessGhana

            'International monetary system has failed,' Tunisian FM tells UN – Arab News

            UPDATE 1-Germany's Baerbock joins chorus criticizing EU migration deal with Tunisia – Yahoo Finance

            New Mediterranean weather disturbances threaten Libya, Tunisia … – The Libya Observer

            'Things Were Good': How One Ivorian Hairdresser Restarted in Tunisia – Pulitzer Center on Crisis Reporting

            Anastasia Potapova Stuns Tunisia's Ons Jabeur in San Diego Open – Asharq Al-awsat – English

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              TCL Dubai Crowned Electronics Company of the Year at 2023 International Business Awards

              TCL تنال لقب “شركة الالكترونيات للعام” ضمن جوائز ستيفي العالمية للأعمال 2023

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              TCL Launches its New C645 QLED TVs For Exceptional Colour Performance and Endless Entertainment

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              TCL تطلق أجهزة تلفاز C645 QLED الجديدة لأداء لوني استثنائي وترفيه لا متناهي

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              • Middle east
                Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

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                • Press releases
                  Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

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                  • Algeria

                    European Union Delegation Accuses Algeria of 'Extorting' Businesses – Morocco World News

                    Algeria and China Sign 15+ Partnership Deals – Energy Capital & Power

                    Algeria, Chile Pursue Scientific Partnership – Energy Capital & Power

                    Algeria says it contains wildfires, no injuries – Middle East Monitor

                    Nigeria's Tinubu to meet US corporate executives while at UN General Assembly – Yahoo Finance

                    Russian general with Wagner ties reappears in Algeria – Macau Business

                  • Egypt

                    US urged to withhold military aid to Egypt in wake of Bob Menendez charges – The Guardian US

                    blinx: New digital media hub for Middle East's youth – Dailynewsegypt – Daily News Egypt

                    Egypt, Jordan and Iraq FMs discuss economic, political ties – Arab News

                    All 120 workers rescued after Nile cruise ship accident in Egypt – Arab News

                    Egypt's trade with G20 countries hit $88 bln in 2022 – Economy … – Ahram Online

                    Shell Egypt hosts local Shell Eco-Marathon for Egyptian student … – Daily News Egypt

                    Trending Tags

                    • Commentary
                    • Featured
                    • Event
                    • Editorial
                  • Libya

                    64 Palestinians killed in Libya's devastating floods – The Business Post

                    Libya's flood-hit Derna to host reconstruction conference: authorities – Arab News

                    Eastern Libyan government calls for international reconstruction … – Libya Herald

                    What Caused the High Death Toll From Libya's Floods? – Bloomberg

                    Libya accident kills 5 Greek aid team members: army – Macau Business

                    United Kingdom (UK) ramps up vital life-saving support for Libya – ZAWYA

                    Trending Tags

                    • Morocco

                      LG Chem with China’s Huayou to make battery materials in Indonesia, Morocco – ThePrint

                      LG Chem pivots to LFP with Huayou for Morocco plant – The Korea Herald

                      Another magnitude earthquake hits Morocco – Blueprint … – Blueprint Newspapers Limited

                      AfDB, EBRD Collaborate to Support SMEs in Morocco, Tunisia, Egypt – Morocco World News

                      Your Daily Phil: Rosh Hashanah in quake-ravaged Morocco + Patrol … – eJewish Philanthropy

                      Hyundai Motor Group donates $1.1M to aid Morocco and Libya – The Korea JoongAng Daily

                      Trending Tags

                      • South Sudan

                        13 Ugandans abducted by South Sudanese authorities released – Independent

                        Uganda: South Sudan President Salva Kiir Jets in Uganda for a One … – AllAfrica – Top Africa News

                        MC Srebrenica published Reports on War Crimes in Ukraine, Ethiopia, Syria and South Sudan – Sarajevo Times

                        US State, Labor, and Commerce Departments Issue South Sudan … – GlobalComplianceNews

                        China-South Sudan prediction, odds, pick, how to watch FIBA World … – ClutchPoints

                        Civil-military dialogue calls for forgiveness, reconciliation in Yei – Sudan Tribune

                        Trending Tags

                        • Sudan

                          Nearly 2 million people in Afghanistan face acute food insecurity: UN – Business Standard

                          Ethiopia, Egypt, Sudan resume Nile dam talks – Arab News

                          Sudan Situation Report: Aid Agencies Access and Security Risk … – ReliefWeb

                          Head of Sudan's Sovereign Council holds talks with UN, ICC leaders in New York – Middle East Monitor

                          QALA For Financial Investments : Qalaa Holdings 2Q23 Business … – Marketscreener.com

                          Chad/Sudan: International Committee of the Red Cross (ICRC) facilitates release of 30 children previously detained in relation to conflict; ICRC president visits eastern Chad – ZAWYA

                          Trending Tags

                          • Tunisia

                            Tunisia cartoonist freed after arrest for drawings – BusinessGhana

                            'International monetary system has failed,' Tunisian FM tells UN – Arab News

                            UPDATE 1-Germany's Baerbock joins chorus criticizing EU migration deal with Tunisia – Yahoo Finance

                            New Mediterranean weather disturbances threaten Libya, Tunisia … – The Libya Observer

                            'Things Were Good': How One Ivorian Hairdresser Restarted in Tunisia – Pulitzer Center on Crisis Reporting

                            Anastasia Potapova Stuns Tunisia's Ons Jabeur in San Diego Open – Asharq Al-awsat – English

                            Trending Tags

                            • North Africa
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                              TCL Dubai Crowned Electronics Company of the Year at 2023 International Business Awards

                              TCL تنال لقب “شركة الالكترونيات للعام” ضمن جوائز ستيفي العالمية للأعمال 2023

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                              TCL Launches its New C645 QLED TVs For Exceptional Colour Performance and Endless Entertainment

                              TCL Launches its New C645 QLED TVs For Exceptional Colour Performance and Endless Entertainment

                              TCL Launches its New C645 QLED TVs For Exceptional Colour Performance and Endless Entertainment

                              TCL تطلق أجهزة تلفاز C645 QLED الجديدة لأداء لوني استثنائي وترفيه لا متناهي

                              ملتقى الاستثمار السنوي 2023 يناقش دور التكنولوجيا الرقمية في تصميم مدن المستقبل

                              Annual Investment Meeting 2023 to Explore the Role of Digital Technology in Designing Future Cities

                              BZR on Coinstore – a Significant Milestone for Bazaars

                              BZR on Coinstore – a Significant Milestone for Bazaars

                              Trending Tags

                              • Middle east
                                Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

                                Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

                                A Bold Step Forward for Türkiye’s Financial Future, PayFix Officially Acquires BankPozitif

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                                [Citibank] – Unlock a World of Benefits with Citibank Rewards Credit Card

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                                A Beginner’s Guide to Mutual Funds

                                Trending Tags

                                • Press releases
                                  Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

                                  Air Freight Market is expected to Reach USD 440.16 Billion by 2029 at a CAGR of 5.8 percent

                                  Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent

                                  Blue Cheese Market is expected to Hit USD 12.4 Billion by 2029 at a CAGR of 3.6 percent

                                  Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent

                                  Car Crusher Machine Market to Reach USD 3.47 Billion by 2029 at a CAGR of 5.4 percent

                                  Freshwater Fish Market to Reach USD 271.57 Billion by the end of the forecast period at a CAGR of 2.3 percent

                                  Freshwater Fish Market to Reach USD 271.57 Billion by the end of the forecast period at a CAGR of 2.3 percent

                                  Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent

                                  Application Integration Market to Reach USD 46.21 Billion by 2029 at a CAGR of 20.1 percent

                                  Hot & Cold Systems Market Share: Regional Dynamics Unveiled

                                  Hot & Cold Systems Market Share: Regional Dynamics Unveiled

                                  Trending Tags

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                                  Home North Africa

                                  Concentrate on Libya, Businessman Tells Libyan Investment Authority after London Court Dismisses Second Case Against Him

                                  admin by admin
                                  January 27, 2022
                                  in North Africa
                                  Virtus Group announces partnership with Datar Cancer Genetics to offer personalized precision oncology solutions in Kuwait
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                                  Arab Newswire Press Release-Distribution-to-Media-Arab-World and MENA region







                                  LONDON, UK – (ARAB NEWSWIRE) — The UK Commercial Court on Friday dismissed a second case brought by the Libyan Investment Authority against businessman Walid Giahmi, a defendant in the $US 200 million case the LIA brought against Credit Suisse and three other defendants. See Case No: CL-2019-000691 with Neutral Citation Number: [2021] EWHC 2684 (Comm) that was presided at THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES COMMERCIAL COURT (QBD) at the Royal Courts of Justice, Rolls Building, Fetter Lane, London, EC4A 1NL.

                                  Mr. Justice Pelling QC said the LIA had “no real prospect of success” of showing that it had lodged its claims in a timely manner, a similar finding to that reached by Mr. Justice Bryan in a 2019 ruling on the LIA vs J.P. Morgan.   The LIA lost an appeal on the J.P. Morgan judgement but Counsel for the LIA indicated to the Court on Friday that the LIA will not be appealing the Credit Suisse decision.

                                  This likely means an end to the LIA’s seven-year largely fruitless pursuit of major international banks over investments placed with them on the eve of or the early stages of the 2007-8 global financial crisis.

                                  “It is time that the Libyan Investment Authority concentrates on Libya,” Mr Giahmi said.  “This decision should mean an end to the fortunes spent on London lawyers in preference to Libyan schools, hospitals and basic necessities.”

                                  Costs involved in the Credit Suisse case were described as “eye-watering” in last week’s hearing, with the LIA having to meet a large proportion of defendant’s costs, which included some penalty costs for pursuing a case said in the hearing to meet a standard of being “speculative, weak, opportunistic and thin.”

                                  In April 2019, the Libyan Government disclosed that the LIA had already spent more than €500 million on legal fees in litigation against global banks and contesting control over the LIA.

                                  Mr Giahmi has consistently denied allegations that he bribed or intimidated LIA employees to obtain approvals for investments made by the LIA or that he influenced appointments to the LIA or channelled bribes to the Libyan dictator’s son, Saif al-Islam Gaddafi.  An early supporter of the revolution against Muammar Gaddafi, Giahmi maintains that he became the target of retaliation immediately after identifying suspected corrupt former Gaddafi bankers to the leaders of the revolution.

                                  He continued to be targeted as some of Gaddafi’s bankers manoeuvred themselves back into positions of influence in post-revolutionary Libya, with the litigation against Western banks serving “as a useful distraction” against questions about missing money during the Gaddafi era and continuing corruption in current day Libya.

                                  “The allegations against me date back to 2008 and were the subject of UK, US and Swiss regulatory inquiries which produced no adverse findings,” he said.  “The LIA has continually recycled the same allegations, but withdrew the case when they had the opportunity to have them determined by a court.

                                  “This has deprived me of the opportunity for me to clear myself, or for the courts to consider the mass of information I have provided on banking and financial corruption from the time of the Gaddafi regime on. If the parties involved wanted to respond to the material I have presented to the courts, they have had every opportunity to respond in specifics and in detail – and they haven’t.”

                                  Media Contact
                                  Stylus Media
                                  Phil Dickie
                                  stylusmedia@bluewin.ch
                                  +41 79 703 1952

                                  This press release is issued through Arab Newswire™ – a newswire service with press release distribution to media in the Arab World, Middle East and North Africa (MENA).











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                                  Tags: Credit SuisseGaddafiLIALibyaLibyan Investment AuthorityLondonMENAMiddle EastNorth Africa
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