INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Libya orders arrest of second minister for financial irregularities

Culture Minister Mabrouka Touki was arrested on charges of corruption.
  • The culture minister, an academic with a degree in nuclear physics, was appointed in March as part of the interim unity government
  • The probe relates to alleged graft over a contract for maintenance works on ministry buildings which had already been refurbished last year

Libyan prosecutors ordered the culture minister detained on Wednesday, December 29, as part of an investigation into alleged graft of state funds, a week after arresting the education minister in a similar case.

Prosecutors had questioned Culture Minister Mabrouka Touki and ordered her detained on charges of “falsifying official documents in order to complicate the processes of review and oversight of public spending,” it said in a statement.

This relates to alleged graft over a contract for maintenance works on ministry buildings which had already been refurbished last year.

Touki, an academic with a degree in nuclear physics, was appointed in March as part of the country’s interim unity government.

Her detention comes a week and a half after Libya’s Education Minister Moussa al-Megarief was arrested as part of an inquiry into a lack of schoolbooks.

The prosecution service said it was investigating possible “negligence” in that case.

Libya plunged into a decade of chaos following the 2011 revolt that toppled dictator Moamer Kadhafi, and state institutions are riddled with corruption.

The North African country was supposed to hold a presidential election last Friday in a United Nations-led effort to drag Libya out of its years of conflict.

The ballot was delayed to an unspecified date after bitter arguments over divisive candidates and a disputed legal framework.