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Libya Herald
2 days ago
- Politics
- Libya Herald
Aldabaiba and Menfi stress use of polling feedback to establish consensus basis for constitutional process: report and analysis
The President of the Presidential Council, Mohamed Al-Menfi, and the Tripoli based Libyan Prime Minister, Abd Alhamid Aldabaiba, held what the Tripoli government referred to as an ''expanded meeting'' in Tripoli yesterday that dealt with ''several political, security and financial files of national priority''. Implementing security arrangements, consolidating the rule of law During the meeting, the Tripoli government reported, the two sides stressed the importance of implementing security arrangements, supporting the Tripoli Security Directorate, ending all manifestations of detention outside the judiciary, and subjecting all prisons to full jurisdiction in coordination with the Attorney General, as a basis for consolidating the rule of law and guaranteeing rights. Reorganise the competencies of security, military and justice institutions It was also agreed to reorganise the competencies of security, military and justice institutions, in a way that ensures that there are no conflicts in powers and competencies in accordance with the basic organisational structure, and in a way that supports the Ministries of Interior and Defence in performing their tasks in a safe and organized environment. Support of UNSMIL to enhance comprehensive national consensus The two sides renewed their support for the efforts of the United Nations Support Mission in Libya (UNSMIL) and stressed the importance of continuing coordination with it in the political and security tracks, to enhance the chances of comprehensive national consensus. To confront public spending that violate financial law and political agreement On the financial side, the two parties stressed the need to take joint measures to confront public spending that violate the financial law and the provisions of the political agreement, stressing the need for a unified budget, and for public funds to be subject to control mechanisms, prior planning, review and disclosure after contracts, in order to ensure respect for the people's right to knowledge and accountability. Popular referendum to establish popular consensus for constitutional path The two sides also reviewed the latest developments in activating the High Commission for Referendum and National Inquiry (political public opinion polling), and stressed the importance of conducting a broad, impartial and transparent popular referendum as soon as possible to establish any constitutional path based on a real popular consensus. Analysis and comment The desire by the Presidency Council to use political opinion polls / referendums is a new, proactive development. Historically, the Presidency Council has been seen as a dormant body. However, its ousting of the former Central Bank of Libya Governor, Sadek El-Kaber changed that perception. The removal of El-Kaber The legality of the initial removal of El-Kaber was questionable. According to the 2015 Libyan Political Agreement (LPA), and its subsequent alterations, the Presidency Council is a non-legislative body. Legislation is supposed to be enacted by the House of Representatives (HoR) – in consultation with the High State Council. The appointment of a CBL Governor, the head of the Audit Bureau and the Administrative Control Authority are the concern of the legislature and not the executive. It will be recalled that the Presidential Council had announced on 18 August 2024 that it had taken a unanimous decision to elect a new Governor of the CBL and form a new Board of Directors. This it claimed, came within the HoR Resolution No. 3/2018. This is the 2018 HoR law which had removed El-Kaber as CBL Governor – but the eastern based HoR was never able to enforce this removal in Tripoli. The Presidency Council appointment of a new CBL Governor was initially rejected by both Libya's recognised legislative bodies, the HoR and High State Council (HSC). However, on 26 September 2024 UNSMIL announced that the HoR and the HSC had agreed on the consensual appointment of the new Central Bank of Libya (CBL) Governor, his Deputy and the Board of Directors. The removal of El-Kaber set a precedent? This in effect set a precedent for the Presidency Council and Aldabaiba. Aldabaiba and Menfi feel they are constrained in their effectiveness by Libya's political quagmire set in stone by the 2015 LPA. Aldabaiba feels he needs a popular mandate to implement reform – especially controversial reform such as security reforms to confront militias. Several militias have ingratiated themselves in their city or region by projecting themselves as the local protector against other militias or even government security forces. The local and social support of militias This localisation of security (local militias) dates from the 2011 February Revolution that ousted the Qaddafi regime. Towns, cities and regions were left to fend for themselves for resistance to the forces of the Qaddafi regime or to militias of other towns, cities and regions, as well as ought right criminals. The militias use tribalism and regionalism to protect themselves from the high national aim of creating a unified national police and army controlled by the central government of the day. Aldabaiba emboldened by removal of El-Kaber? Emboldened by the removal of former CBL Governor El-Kaber without the legislation of the HoR or HSC, at the Third Ordinary Cabinet Meeting of 2024 held on 28 October in Tripoli – the first Cabinet meeting since El-Kaber's removal – Aldabaiba said: ''Changing the CBL's administration (the Governor and the board of directors) was inevitable, the first step in a series of deep reforms aimed at ending the absurdity and revitalising the Libyan economy. With this decision, I have irrevocably turned the page on individualism, temperament and political blackmail using the most important financial position in the country. The time of individualism and non-institutionalism has become a part of the past''. More pertinently to the relevance of using opinion polls to obtain a mandate for action, Aldabaiba further said ''We will not accept the extension of the current political bodies (parliament, the House of Representatives and the High State Council) and will not remain idle in front of the group that obstructs the elections. Going to direct elections that renew the legitimacy of all legislative and executive bodies is a red line for us''. He went on to say ''There are millions paid, weapons shipped, (foreign) media and intelligence tools working day and night, and receivables bought the aim of which is to undermine Libya's stability and hit its economy''. Use of opinion polls as a mandate It is Aldabaiba's refusal to allow the forces of the political status quo in Libya (the HoR, HSC and militias) to keep Libya in its current political quagmire that is behind the desire to use political opinion polls / referendums as quasi-elections to provide a mandate for action: We 'will not remain idle in front of the group that obstructs the elections'. As far as Aldabaiba is concerned, the HoR and HSC are only interested in maintaining the status quo. They wish to remain in power for as long as possible by delaying elections. This includes the move by the HoR to pass (using a minority of members) an election law that guarantees HoR Speaker Ageela Saleh and Hafter retain their posts if they are to lose in an election race. Aldabaiba hopes to wave the results of opinion polls at his opponents, be they the international community, the HoR, the HSC, militias and parts of the public. He hopes to use these popular mandates to implement strong, effective government, economic and security reforms. He wishes to use these opinion polls to by-pass and go over the head of the HoR and HSC – and indeed the 2015 LPA that installed them. Will the ploy succeed again? It remains to be seen if the opinion poll/referendum ploy will succeed. There is no doubt that a large segment of the Libyan public is tired of the political impasse that the country finds itself in. This political impasse is having a constraining effect on successive governments' ability to implement real reform and on the general public's standard of living. Can a poll / referendum be conducted across Libya? But while the Tripoli government may be able to conduct an opinion poll in western Libya, it is unclear if the eastern regime will allow such a poll to take place. If the polling is only conducted in the west of Libya, can this be considered a nation-wide mandate or just a regional mandate? And if it is only regional, is this adding to or taking away from the unification of Libya? Western Libya to go it alone? On the other hand, has Aldabaiba effectively given up on the international community, UNSMIL, the 2015 LPA and a united Libya and decided that western Libya must go it alone. Has he decided that it is no longer possible to expect Saleh and Hafter to allow elections to take place – ever? Tripoli will have to also convince the international community. Whilst they were able to get away with ousting CBL Governor El-Kaber, it is unclear if the unilateral move can be repeated in other scenarios. It was clear that El-Kaber had lost his credibility, and the international community were happy to see him removed. They may hold a different view on other political moves planned by the Tripoli administration based purely on opinion polls or referenda. Weak executives unable to reform The political split between western and eastern Libya with the internationally recognised government based in Tripoli and the HoR and its (internationally unrecognised) government based in Benghazi has meant that all these bodies are weak. This weakness has meant that no government has been able to implement the deep reform needed to launch the Libyan economy. It will be recalled that Libya is a centralised, socialist, rentier state highly dependent on its oil revenues. It is still operating the Qaddafi system it inherited in 2011. This Qaddafi system means the economy is highly centralised and dominated by the state – at the expense of the private sector. State-sector employment With high unemployment and higher still youth unemployment, the government must create at least 100,000 jobs every year. But the private sector economy is suppressed by the centralised, rentier system and is unable to create such a high number of new jobs annually. This forces the government into appointing thousands of youth to state-sector jobs – jobs that don't exist and that the country does not need. This has sent the state-sector jobs bill in the state budget skyrocketing to unsustainable numbers – at the expense of the creation of value-added jobs in the private sector. Opportunity costs The money used on the state-sector jobs budget is needed elsewhere and could and should be invested in other productive sectors instead. It should be used to train university leavers and finance SMEs instead. It should be used to improve health, education, and infrastructure. Reforming the banking system Another area that needs reform to kickstart the private sector is the banking sector. Libya's banking sector is also a legacy of the Qaddafi era. The legislative environment prevents banks from offering loans and finance to business as the laws do not guarantee the banks' ability to seek redress in the courts and confiscate property or assets in lieu of unpaid loans. Militias Finally, a state must have a monopoly on the legitimate use of force. Foreign companies, foreign airliners and embassies are reluctant to come and invest in Libya as long as there are strong, unaccountable militias in the country. Aldabaiba understands this and this is (one of) the reason he has recently had confrontations with militias. A political mandate to face-off militias gained through a strong popular opinion poll or referendum is one way to face-off militias.
Associated Press
2 days ago
- Business
- Associated Press
CRISPR Therapeutics Reports Positive Additional Phase 1 Data for CTX310™ Targeting ANGPTL3 and Provides Update on In Vivo Cardiovascular Pipeline
ZUG, Switzerland and BOSTON, June 26, 2025 (GLOBE NEWSWIRE) -- CRISPR Therapeutics (NASDAQ: CRSP), a biopharmaceutical company focused on creating transformative gene-based medicines for serious diseases today announced updates across its in vivo cardiovascular disease programs. These include new data for CTX310™, targeting ANGPTL3, as well as continued progress on CTX320™, targeting the LPA gene, and CTX340™, targeting the AGT gene. 'CRISPR Therapeutics remains focused on executing against our strategic priorities and advancing our portfolio of innovative therapies,' said Samarth Kulkarni, Ph.D., Chairman and Chief Executive Officer of CRISPR Therapeutics. 'The additional data from our ongoing Phase 1 clinical trial for CTX310 reinforces the potential of our platform to transform the treatment of serious cardiovascular diseases. We are progressing with our dose-finding study and expect to share complete data at a medical meeting in the second half of this year. For CTX320, we are continuing our dose-finding study and anticipate sharing data in the first half of 2026, reflecting a strategic decision to incorporate emerging insights from the evolving Lp(a) treatment landscape.' CTX310, targeting ANGPTL3 CTX320™, targeting LPA CTX340, targeting angiotensinogen (AGT) About In Vivo Programs CRISPR Therapeutics has established a proprietary lipid nanoparticle (LNP) platform for the delivery of CRISPR/Cas9 to the liver. The Company's in vivo portfolio includes its lead investigational programs, CTX310 (directed towards angiopoietin-related protein 3 ( ANGPTL3 )) and CTX320 (directed towards LPA, the gene encoding apolipoprotein(a) (apo(a)), a major component of lipoprotein(a) [Lp(a)]). Both are validated therapeutic targets for cardiovascular disease. CTX310 and CTX320 are in ongoing clinical trials in patients with heterozygous familial hypercholesterolemia, homozygous familial hypercholesterolemia, mixed dyslipidemias, or severe hypertriglyceridemia, and in patients with elevated lipoprotein(a), respectively. In addition, the Company's research and preclinical development candidates include CTX340 and CTX450™, targeting angiotensinogen ( AGT ) for refractory hypertension and 5'-aminolevulinate synthase 1 ( ALAS1 ) for acute hepatic porphyria (AHP), respectively. About CRISPR Therapeutics Since its inception over a decade ago, CRISPR Therapeutics has evolved from a research-stage company advancing gene editing programs into a leader that celebrated the historic approval of the first-ever CRISPR-based therapy. The Company has a diverse portfolio of product candidates across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine, cardiovascular, autoimmune, and rare diseases. In 2018, CRISPR Therapeutics advanced the first-ever CRISPR/Cas9 gene-edited therapy into the clinic to investigate the treatment of sickle cell disease and transfusion-dependent beta thalassemia. Beginning in late 2023, CASGEVY® (exagamglogene autotemcel [exa-cel]) was approved in several countries to treat eligible patients with either of these conditions. The Nobel Prize-winning CRISPR technology has revolutionized biomedical research and represents a powerful, clinically validated approach with the potential to create a new class of potentially transformative medicines. To accelerate and expand its efforts, CRISPR Therapeutics has formed strategic partnerships with leading companies including Vertex Pharmaceuticals. CRISPR Therapeutics AG is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Boston, Massachusetts and San Francisco, California. To learn more, visit CRISPR THERAPEUTICS® standard character mark and design logo CTX310™, CTX320™, CTX340™ and CTX450™ are trademarks and registered trademarks of CRISPR Therapeutics AG. CASGEVY® and the CASGEVY logo are registered trademarks of Vertex Pharmaceuticals Incorporated. All other trademarks and registered trademarks are the property of their respective owners. CRISPR Special Note Regarding Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements made by Dr. Kulkarni in this press release, as well as regarding any or all of the following: (i) CRISPR Therapeutics preclinical studies, clinical trials and pipeline products and programs, including, without limitation, status of such studies and trials (including guidance) and expectations regarding data, safety and efficacy generally; (ii) data included in this press release, as well as the ability to use data from ongoing and planned clinical trials for the design and initiation of further clinical trials; (iii) regulatory submissions and authorizations, including related timelines; and (iv) the therapeutic value, development, and commercial potential of gene editing and delivery technologies and therapies, including CRISPR/Cas9. Risks that contribute to the uncertain nature of the forward-looking statements include, without limitation, the risks and uncertainties discussed under the heading 'Risk Factors' in its most recent annual report on Form 10-K and in any other subsequent filings made by CRISPR Therapeutics with the U.S. Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law. This press release also contains information regarding our industry, our business and the markets for certain of our product candidates, including data regarding the estimated size of those markets, and the incidence and prevalence of certain medical conditions. Unless otherwise expressly stated, we obtained this industry, business, market and other data from market research firms and other third parties, including medical publications, government data and similar sources. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this Contact: +1-617-307-7503 [email protected] Media Contact: +1-617-315-4493 [email protected]
GMA Network
5 days ago
- Climate
- GMA Network
‘Sepat' unlikely to enter PAR; LPA has ‘low' chance of becoming storm — PAGASA
Tropical Storm "Sepat' is unlikely to enter the Philippine Area of Responsibility (PAR) while the low pressure area inside PAR has a 'low' chance of becoming a tropical depression within the next 24 hours, PAGASA said Monday afternoon. As of 2 p.m., Sepat was located 2,330 kilometers east northeast of extreme Northern Luzon. Meanwhile, at 3 p.m., the LPA was observed 185 km west of Cubi Point, Subic Bay International Airport. The storm will affect the weather conditions of Zambales and Bataan, according to the state weather bureau's 4 p.m. daily weather forecast. Meanwhile, the Southwest Monsoon (Habagat) will bring cloudy skies with scattered rains and thunderstorms over Metro Manila, CALABARZON, Bicol Region, MIMAROPA, Western Visayas, Zamboanga Peninsula, BARMM, Pangasinan, Negros Occidental, and the rest of Central Luzon. These moderate to at times heavy rains may cause flash floods and landslides. The rest of Luzon will experience partly cloudy to cloudy skies with isolated rain showers or thunderstorms due to the localized thunderstorms. Similar weather conditions will persist over the rest of the country due to the Habagat. These severe thunderstorms may trigger flash floods and landslides. State meteorologists also said winds will be light to moderate, while coastal waters will be slight to moderate throughout the country. Sunrise in Metro Manila will be at 5:29 a.m. on Tuesday. —Mariel Celine Serquiña/RF, GMA Integrated News
GMA Network
6 days ago
- Climate
- GMA Network
LPA outside PAR now a tropical depression —PAGASA
The low pressure area being monitored outside the Philippine Area of Responsibility has developed into a tropical depression, PAGASA said. The state weather bureau said it monitored the development as of 8 p.m. Sunday, June 22, 2025. At 2 p.m., the LPA was located 2,530 kilometers east of extreme Northern Luzon. PAGASA said the LPA has a 'high' chance of becoming a tropical depression within the next 24 hours. For now, the Southwest Monsoon (Habagat) and the Intertropical Convergence Zone (ITCZ) are expected to affect the weather conditions in several areas across the country, according to the state weather bureau's 4 p.m. weather forecast. Cloudy skies with scattered rains and thunderstorms will persist over the over Davao Region and Surigao del Sur due to the ITCZ. Metro Manila, CALABARZON, SOCCSKSARGEN, Pangasinan, Zambales, Bataan, Occidental Mindoro, and Palawan will see the same weather conditions due to the Habagat. These moderate to at times heavy rains may cause flash floods and landslides. The Habagat will also bring partly cloudy to cloudy skies with isolated rain showers or thunderstorms over the Bicol Region, Western Visayas, Negros Island Region, Zamboanga Peninsula, BARMM, and the rest of Central Luzon and MIMAROPA. The same weather conditions will be observed throughout the rest of the country due to localized thunderstorms.—LDF, GMA Integrated News
Yahoo
20-06-2025
- Business
- Yahoo
A $1.3 Billion Reason to Buy Eli Lilly Stock Now
Eli Lilly (LLY) is a pharmaceutical company that focuses on cardiometabolic health, neuroscience, oncology, and immunology. The company markets its products through brands like Jardiance, Emgality, Humalog, Mounjaro, and Trulicity. Eli Lilly was founded in 1876 and operates in 125 countries with its headquarters in Indianapolis, Indiana. Dear Tesla Stock Fans, Mark Your Calendars for June 30 3 ETFs with Dividend Yields of 12% or Higher for Your Income Portfolio This Options Tool Can Show You How to Trade Tesla Stock Ahead of Robotaxi Day Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. Eli Lilly has shown notable volatility in the medium term. Over the past month, the stock has gained 2.3%, however shares are down 1% in the year to date. The stock remains 21.4% below its 52-week high while registering a 13.7% slip in the past 52 weeks. Eli Lilly posted its first-quarter results back on May 1. The company reported a profit of $3.34 per adjusted share, widely missing analysts' $3.52 estimate. The company generated $12.73 billion in revenue, a significant 45% rise from the same quarter last year and beating Wall Street's $12.62 billion estimate. Revenue from Mounjaro saw a substantial rise of 113% year over year to $3.84 billion. Zepbound produced $2.31 billion revenue, registering 20.9% growth. Shares of Eli Lilly fell more than 11% on the results as investors focused on the revised guidance. The company lowered its profit forecast with adjusted EPS now expected in the range of $20.78 to $22.28 from the previous range of $22.50 to $24.00 per adjusted share. The company cites heightened acquired in-process research and development charges (IPR&D) as one of the reasons for the guidance cut. Eli Lilly has announced an agreement to acquire gene-editing company Verve Therapeutics (VERV) for $1.3 billion. This values Verve Therapeutics at $10.50 per share, reflecting a 67.5% premium to its pre-announcement closing price. The move comes as part of Eli Lilly's plans to diversify the company's operations beyond diabetes and weight-loss drugs. Eli Lilly will pay $1 billion upfront and an additional $300 million contingent upon Verve Therapeutics' ability to achieve certain clinical targets. The companies were already involved in a partnership aimed at utilizing gene-editing treatment to lower cholesterol levels in cardiovascular patients. Verve Therapeutics' gene-editing technique utilizes cutting-edge technology allowing it to execute precise one-time changes to the DNA. This can deactivate genes such as PCSK9, LPA, and ANGPTL3, contributing to high cholesterol levels. At present the company is undergoing early stage clinical trials in patients diagnosed with familial hypercholesterolemia, a genetic disorder that causes high levels of LDL cholesterol. Eli Lilly is a top-rated pharmaceutical stock with a consensus 'Strong Buy' rating from analysts. Its mean price target is $983.12, reflecting upside potential of nearly 29%. The stock is covered by 26 analysts and has received 20 'Strong Buy' ratings, two 'Moderate Buy' ratings, and four 'Hold' ratings from Wall Street. On the date of publication, Ruchi Gupta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
