Swiss man flies home after two-year Libya row

(Reuters) – Swiss businessman Max Goeldi arrived back in Switzerland Monday after nearly two years stranded in Libya, drawing a line under a diplomatic row that had threatened to poison ties between Tripoli and Europe.

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Goeldi, accompanied on the flight by Swiss Foreign Minister Micheline Calmy-Rey and Spanish Foreign Minister Miguel Angel Moratinos, was greeted by his family at Zurich airport when he landed after a stop in Tunis on the way from Tripoli.

The spat began two years ago when Swiss police briefly arrested Hannibal Gaddafi, a son of Libyan leader Muammar Gaddafi, and it later escalated into a conflict that drew in the European Union, the United States and major energy firms.

Libyan officials deny the Swiss man’s case had anything to do with Hannibal Gaddafi’s arrest, but Goeldi’s supporters say he was an innocent pawn caught up in Libya’s retaliation against Switzerland.

Goeldi, who worked in Libya for engineering firm ABB, was given clearance to return home after Calmy-Rey arrived in the Libyan capital and signed a deal both sides said was aimed at ending their diplomatic dispute.

“We are relieved and happy along with Max Goeldi and his family,” Calmy-Rey said in a statement.

Moratinos, whose country holds the European Union’s presidency, had been in Tripoli to help negotiate the Swiss-Libyan deal — a sign of the importance the EU attaches to its business ties with oil exporter Libya.

Goeldi had been serving a four-month prison sentence for violating immigration rules until he was released last week, clearing the way for talks on his return home. Before he was jailed he had been barred from leaving Libya since July 2008.

The price for Goeldi’s return home appeared to be a Swiss apology for the publication of a leaked police photo of Hannibal Gaddafi taken while he was under arrest. Libya says the leak was an invasion of his privacy and damaged his reputation.

The Swiss foreign minister said her country acknowledged the publication was unlawful, apologized, and promised to pay Hannibal Gaddafi compensation if a criminal investigation failed to find who was responsible for the leak.

Swiss French-language television said it had unconfirmed reports that the Geneva authorities were paying 1.5 million euros ($1.8 million) in compensation to Hannibal Gaddafi.

FORGIVENESS

The apology was in a “plan of action” signed by Calmy-Rey and her Libyan counterpart Moussa Koussa which they said would act as a blueprint for ending the row.

The Swiss foreign minister told reporters after a signing ceremony that Goeldi’s homecoming “is the start of the normalization of relations between the two countries.”

Koussa said Libya too wanted to move on. “I would like the Libyan people to forgive the Swiss people who committed this mistake against Hannibal Gaddafi,” he said.

Goeldi’s problems began days after Hannibal Gaddafi was arrested at a luxury lakeside hotel in Geneva on charges — which were later dropped — of abusing two domestic employees.

Libya reacted angrily, stopping oil exports to Switzerland and withdrawing assets from Swiss banks. Muammar Gaddafi declared a “jihad” on Switzerland, although his officials said he had meant a trade embargo, not a holy war.

Libya was under international sanctions until 2004 when its leader renounced banned weapons programs.

During the row with Switzerland, it briefly barred entry to citizens of most European countries in retaliation for a Swiss travel ban on some senior Libyans.

Tripoli also warned U.S. energy companies operating in Libya their interests could be hurt after a U.S. official made disparaging remarks about Muammar Gaddafi’s stance on Switzerland. The U.S. official later apologized.

(Additional reporting by Ali Shuaib and Salah Sarrar in Tripoli, Stephanie Nebehay in Geneva, Arnd Wiegmann in Zurich; Writing by Christian Lowe; Editing by Ralph Gowling)

Swiss businessman arrives in Zurich from Libya

June 14 (Reuters) – Swiss businessman Max Goeldi, at the centre of a political row between Libya’s ruling Gaddafi family and Switzerland, arrived at Zurich airport on Monday after serving a four-month sentence in Libya.

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The spat began two years ago when Swiss police briefly arrested Hannibal Gaddafi, a son of Libyan leader Muammar Gaddafi, and it later escalated into a conflict that drew in the European Union, the United States and major energy firms.

Libyan officials deny the Swiss man’s case had anything to do with Hannibal Gaddafi’s arrest, but Goeldi’s supporters say he was an innocent pawn caught up in Libya’s retaliation against Switzerland.

(Reporting by Arnd Wiegmann and Jason Rhodes)

UPDATE 10-Swiss man leaves Libya after two-year diplomatic row

TRIPOLI, June 13 (Reuters) – Swiss businessman Max Goeldi was flying home on Sunday after nearly two years stranded in Libya, drawing a line under a diplomatic row that had threatened to poison ties between Tripoli and Europe.

The spat began two years ago when Swiss police briefly arrested Hannibal Gaddafi, a son of Libyan leader Muammar Gaddafi, and it later escalated into a conflict that drew in the European Union, the United States and major energy firms.

Libyan officials deny the Swiss man’s case had anything to do with Hannibal Gaddafi’s arrest, but Goeldi’s supporters say he was an innocent pawn caught up in Libya’s retaliation against Switzerland.

Goeldi was given clearance to return home after Swiss Foreign Minister Micheline Calmy-Rey arrived in the Libyan capital and signed a deal both sides said was aimed at ending their diplomatic dispute.

A Swiss foreign ministry statement said the businessman, who worked in Libya for engineering firm ABB (ABBN.VX), was on his way home after a plane with him on board took off from Libya.

“We are relieved and happy along with Max Goeldi and his family,” the statement quoted Calmy-Rey as saying.

Spanish Foreign Minister Miguel Angel Moratinos, whose country holds the European Union’s presidency, was in Tripoli to help negotiate the Swiss-Libyan deal — a sign of the importance the EU attaches to its business ties with oil exporter Libya.

Goeldi had been serving a four-month prison sentence for violating immigration rules until he was released last week, clearing the way for talks on his return home. Before he was jailed he had been barred from leaving Libya since July 2008.

The price for Goeldi’s return home appeared to be a Swiss apology for the publication of a leaked police photo of Hannibal Gaddafi taken while he was under arrest. Libya says the leak was an invasion of his privacy and damaged his reputation.

The Swiss foreign minister said her country acknowledged the publication was unlawful, apologised, and promised to pay Hannibal Gaddafi compensation if a criminal investigation failed to find who was responsible for the leak.

Swiss French-language television said it had unconfirmed reports that the Geneva authorities were paying 1.5 million euros ($1.8 million) in compensation to Hannibal Gaddafi.

FORGIVENESS

The apology was in a “plan of action” signed by Calmy-Rey and her Libyan counterpart Moussa Koussa which they said would act as a blueprint for ending the row.

The Swiss foreign minister told reporters after a signing ceremony that Goeldi’s homecoming “is the start of the normalisation of relations between the two countries.”

Koussa said Libya too wanted to move on. “I would like the Libyan people to forgive the Swiss people who committed this mistake against Hannibal Gaddafi,” he said.

Goeldi’s problems began days after Hannibal Gaddafi was arrested at a luxury lakeside hotel in Geneva on charges — which were later dropped — of abusing two domestic employees.

Libya reacted angrily, stopping oil exports to Switzerland and withdrawing assets from Swiss banks. Muammar Gaddafi declared a “jihad” on Switzerland, although his officials said he had meant a trade embargo, not a holy war.

Libya was under international sanctions until 2004 when its leader renounced banned weapons programmes.

During the row with Switzerland, it briefly barred entry to citizens of most European countries in retaliation for a Swiss travel ban on some senior Libyans.

Tripoli also warned U.S. energy companies operating in Libya their interests could be hurt after a U.S. official made disparaging remarks about Muammar Gaddafi’s stance on Switzerland. The U.S. official later apologised. (Additional reporting by Stephanie Nebehay in Geneva and Jason Rhodes in Zurich; Writing by Christian Lowe; Editing by Louise Ireland)

Indian shares provisionally close 0.4 pct higher

May 31 (Reuters) – Indian shares provisionally closed 0.44 percent higher on Monday, boosted by strong economic data and led by gains in energy firms Reliance Industries (RELI.BO) and Oil and Natural Gas Corp (ONGC.BO).

Financials

The 30-share BSE index .BSESN provisionally ended up 74.97 points at 16,938.03, with 17 components gaining.

The 50-share NSE index also provisionally closed up 0.44 percent at 5,088.80 points. (Reporting by Sumeet Chatterjee; Editing by Unnikrishnan Nair)

Suntech, Trina sign $11.7 bln loan deals with CDB

HONG KONG, April 14 (Reuters) – China’s top solar companies Suntech Power Holdings (STP.N) and Trina Solar (TSL.N) have signed framework agreements with China Development Bank (CDB) [CHDB.UL], giving the companies access to a combined 80 billion yuan ($11.72 billion) worth of loans in the medium term, company officials said on Wednesday.

Suntech, China’s largest solar cell and panel maker, signed an agreement with CDB for up to 50 billion yuan ($7.33 billion) worth of loans over five years, Rory Macpherson, Suntech’s spokesman, told Reuters.

“It’s a non-binding agreement,” he said. “It’s not related to specific projects…and it could be used for capacity expansion.”

“It essentially shows the strong partnership between Suntech and China Development Bank,” he said, adding that the agreement was signed in the past two weeks.

Trina Solar forged a 30 billion yuan ($4.40 billion) loan agreement with CDB that will last through 2015, Chief Financial Officer Terry Wang said.

While global peers have limited access to cheap state loans, Chinese renewable energy firms are getting a boost from Beijing as they win clean technology projects around the world [ID:nHKG361180]. Much of that is via loans from big state banks for their clients to finance their purchases.

Such deals are unfolding as China aggressively develops its renewable energy sector and as its companies play catch-up with bigger, global peers including German solar cell producer Q-Cells AG (QCEG.DE) and Spanish wind farm operator Iberdrola (IBE.MC), which have built up solid track records, also with help from more than a decade of government subsidies.

CDB used to be one of China’s three policy lenders directly led by the cabinet, but has been transformed into a commercial lender. (Reporting by Sui-Lee Wee and Leonora Walet; Editing by Jacqueline Wong)

SE Asia Stocks-Malaysia at 25-month highs, Thailand ends flat

* Financials lead Malaysian gains

* Thailand flat, around 22-month highs

* S’pore, Indonesia, Philippines on holiday

By Viparat Jantraprap

BANGKOK, April 2 (Reuters) – Thai stocks ended flat on
Friday, sticking around 22-month highs as optimism grew over
the economic recovery, while Malaysia hit a 25-month high.

The region had a listless session as many Asian bourses
were closed on Good Friday, including Indonesia, Asia’s best
performer this year, Singapore and the Philippines, which
reopen on Monday.

Foreign investors poured money into Thai equities for the
sixth week, raising their net buying to $1.65 billion since
Feb. 22.

At one point on Friday the market climbed to its highest
level since June 9, 2008 before ending down 0.02 percent
.SETI. Asia’s fifth-best performer this year trades at 11.77
times forward price earnings, making it the second cheapest
market in Asia after Pakistan.

That compares with Malaysia’s 15.78, Indonesia’s 14.25 and
the Philippines’ 13.12, according to Thomson Reuters data.
Singapore’s forward price-to-earnings ratio is 15-18, according
to analysts.

A better-than-expected economic performance in the first
two months of 2010 has given investors greater optimism about
the 2010 economic outlook, which may encourage the Bank of
Thailand to raise interest rates in April, some analysts say.

“We still see an interest rate hike as a strong possibility
this month. This pointed to further appreciation in the Thai
baht and has played a large role in attracting foreign
inflows,” said Somprawin Manprasert, an economist at Tisco
Securities.

Political turbulence has had little impact on the economy
although an end to the “red shirt”, anti-government protests
that began in Bangkok three weeks ago is not in sight, he said.

Energy firms, which have a combined market weight of over
20 percent, rose across the board as oil prices rose for a
fourth day [O/R]. PTT Chemical PTTC.BK surged 4.4 percent and
PTT Exploration and Production (PTTE.BK) gained 1 percent.

Malaysia .KLSE added 0.46 percent to its highest since
March 4, 2008, led by a 1.4 percent rise in financial CIMB
Group (CIMB.KL) and a 0.85 percent gain in Public Bank
(PUBM.KL).

Malaysia Airports (MAHB.KL) climbed 3.1 percent to 4.95
ringgit. Broker OSK rated it a ‘trading buy’ with a target
price of 5.5 ringgit, citing its business and revenue outlook.
[ID:nSGE631003]

Vietnam .VNI, the smallest market in the region, rose for
the second session, adding 0.45 percent. Masan Group MSN.HM
was up 3.5 percent and Vincom VIC.HM was 1.6 percent higher.
(Editing by Alan Raybould)