Read all about it at the NY Times. http://thelede.blogs.nytimes.com/2011/06/13/qaddafis-latest-gambit-a-chess-match/
The pieces were white and gold which isn't really clear from the photo you posted.
Times article includes link to a video showing the match being played. It was certainly a show but Qaddafi was a real chess player.
A simple question: we all know Kadhafi is a strange and very excentric guy: in this photo he is playing a chess game against Kirsan Ilyumzhinov (FIDE president). What do you think? was this a real game or just a "show"? I wanna get the moves.
(Another question: are both sides playing white?)