TRIPOLI // Libya's interim authorities will formally transfer power to the newly elected General National Congress in the second week of August.
"August 8 is expected to be the date on which power is transferred from the National Transitional Council to the General National Congress," said Othman Ben Sassi, a member of the outgoing NTC.
Mr Ben Sassi said the handover would be marked by a "symbolic ceremony" and that the 200-seat congress would start working a day or two later, when all the members meet for their first session. The first meeting is expected about August 9.
Last July, Libyans participated in the country's first free elections since a popular revolt, which escalated into a civil war and drew the intervention of Nato to topple the dictator, Muammar Qaddafi.
Libyans elected a 200-member legislative assembly, comprising party and independent representatives, which will lead the country until fresh elections can be held on the basis of a new constitution.
Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
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Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
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COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
'Texas Chainsaw Massacre'
Rating: 1 out of 4
Running time: 81 minutes
Director: David Blue Garcia
Starring: Sarah Yarkin, Elsie Fisher, Mark Burnham