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...auditorium of Tripoli's Corinthia Hotel, a number of Libyan officials sit onstage in dark suits and ties, addressing scores of Western executives in flawless English about the country's new business opportunities. A few feet away is a huge portrait of the most famous face in Libya, Muammar Gaddafi, in his trademark African robe and sunglasses, fist in the air, a defiant look on his face, as if to say to the roomful of businessmen, I still run things around here. But the businessmen don't seem to notice. Instead they are transfixed by a tall young man with...

Author: /time Magazine | Title: Libya's New Face | 11/22/2004 | See Source »

...repressing dissent and supporting armed attacks against American targets. Seif, 32, is believed by many analysts and diplomats to be Gaddafi's probable political heir. He is a doctoral student at the London School of Economics, a skilled artist and a keen tennis player who frequents the courts of Tripoli's Regatta Club, a favorite beachside haunt for the city's resident expatriates and Libyan élite. With no official role in government, Seif heads the Qaddafi International Foundation, a quasi-independent organization that has negotiated hostage releases and sent relief aid around Africa. He finally persuaded his 62-year...

Author: /time Magazine | Title: Libya's New Face | 11/22/2004 | See Source »

...chilly terms with Iran, many U.S. oil companies see Libya as a dream prospect. "There's a huge amount of oil that hasn't been discovered," says Michael Thomas, director of the London-based Middle East Association, a trade-promotion group that organized the business conference in Tripoli where Seif spoke. "The money is all there. There is nothing like this in the world...

Author: /time Magazine | Title: Libya's New Face | 11/22/2004 | See Source »

...looks out on Tripoli, it is hard to grasp the potential. The city's crumbling old Italian colonial buildings are set amid billboards hailing Libya's socialist revolution and trumpeting the power of the "people's committees," Gaddafi's version of local democracy. But Libya's fans insist the possibilities are real. In the Corinthia--Libya's only luxury hotel, boasting $300-a-night rooms--Western executives crowd the lobby, rubbing shoulders with politicians and diplomats. The U.S. liaison office, the prelude to a real embassy, now operates out of bedrooms on an upper floor of the Corinthia. Two sparsely...

Author: /time Magazine | Title: Libya's New Face | 11/22/2004 | See Source »

...flown regularly to the Essider terminal and to Waha's desert oil fields, trying to discern how to re-enter Libya. Under a 1986 standstill agreement, the fields are still partly the property of the American oil companies, though they have been operated by the Libyan government. Diplomats in Tripoli and Waha workers say negotiations have bogged down, with the American oil companies demanding a controlling stake in the operations, in return for investing billions. That prospect is met in the oil fields with a mixed response. "Before 1986 the Americans were the bosses, and everyone else was here...

Author: /time Magazine | Title: Libya's New Face | 11/22/2004 | See Source »

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