Financial and Banking News
Tamoil to Double Capital
The Italian oil Company, Tamoil Italia SPA, which is 70% owned by the LibyanArab Foreign Bank (LAFB) is doubling its capital from Lire 72bn ($54mn) to Lire150bn ($113mn). This implies an injection of fresh cash into the company of some$41mn by LAFB. The remaining 30% of Tamoil is controlled by a group of Italianinvestors led by Mr. Florio Florini, an ex-finance director of the state-ownedoil and gas...