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Libya tells foreign energy firms it's safe to return

Libya's state energy firm urged its foreign oil and gas partners to resume exploration and production Tuesday assuring them security had begun to improve dramatically after clashes earlier this year.

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Finance committee calls for exchange rate correction, salary taxes review

The Finance and Budget parliamentary committee, headed by MP Ibrahim Kanaan, convened Tuesday to discuss circulars and decisions issued by Finance Minister Youssef Khalil.

After listening to the minister, the committee decided to delay the implementation of two salary taxes resolutions.

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China's Xi to visit Saudi Arabia from Wednesday

Chinese President Xi Jinping will arrive in Saudi Arabia on Wednesday for a three-day visit, his first to the world's biggest crude oil exporter since 2016, Saudi state media reported on Tuesday.

The visit will include a bilateral summit chaired by Saudi King Salman and attended by Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, the official Saudi Press Agency reported.

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Russia says oil price cap 'will not affect' Ukraine offensive

The Kremlin said Monday that a $60 price cap on Russian oil exports agreed by the EU, G7 and Australia will not affect Moscow's military campaign in Ukraine.

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OPEC+ agrees to keep output levels amid uncertainty

Ministers from major oil exporting countries agreed Sunday to keep current output levels unchanged amid uncertainty, two participants at the meeting told AFP.

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EU-TAF support project to Lebanese companies concludes work with ceremony in Beirut

The closing ceremony of the Technical Assistance Facility for the Lebanese Private Sector (EU-TAF) project in Lebanon funded by the European Union and implemented by DAI was held on December 1.

The ceremony took place in the presence of Alessia Squarcella, Deputy Head of Cooperation, EU Delegation to Lebanon, European Commission and Sinisa Djuric, DAI Project Director along with more than 20 companies in the agri-food, creative ICT and healthcare sectors who benefitted from the 34-month support program to realize their commercial potential.

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Ukraine welcomes Russian oil price cap agreed by EU, G7

Ukraine on Saturday welcomed a $60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy" Russia's economy.

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What's the effect of Russian oil price cap, ban?

Western governments are aiming to cap the price of Russia's oil exports in an attempt to limit the fossil fuel earnings that support Moscow's budget, its military and the invasion of Ukraine.

The cap is supposed to take effect Monday, the same day the European Union will impose a boycott on most Russian oil — its crude that is shipped by sea. The EU was moving closer to a $60-per-barrel threshold, but negotiations were still underway Friday.

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Japan OKs $216B extra budget to counter impact of inflation

Japan's parliament approved a hefty 29 trillion yen ($216 billion) supplementary budget Friday aimed at countering the blow to household finances from rising food and utility costs and the weaker yen.

It is the second batch of supplementary spending this year to help boost the economy. The extra spending, funded mainly by government bonds, has added to concerns over the already heavy national debt.

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Germany welcomes Biden comments in trade dispute

Germany on Friday welcomed President Joe Biden's apparent willingness to discuss tweaking U.S. legislation that European leaders say unfairly discriminates against their industries.

Biden acknowledged during a visit to Washington by French President Emmanuel Macron on Thursday that there were "glitches" in the Inflation Reduction Act, which favors American-made climate technology for products such as electric vehicles.

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