From Reuters: Libya has agreed to set up a joint fund of as much as $500 million with Italian bank Mediobanca to invest in Italian companies, the chairman of the North African country’s $65 billion sovereign wealth fund said.

The fund is the latest initiative by Libya to expand its business interests in Italy, where it has already taken stakes in No. 2 bank UniCredit and oil company Eni amid a global downturn that has depressed share prices….. Full Article: Source