Published on 10 May 2012 by Ghiada Al-Ariqi in Business
Alima Abdul Jalil, a woman living in Sana’a, first learned about microfinance services through a promotion campaign conducted by representatives of the National Microfinance Foundation (NMF) in Sana’a, who were visiting her neighborhood.
Published on 3 May 2012 by Amira Nasser in Business
Abdullah Mohammed Salem, 55, a watch repairman, tells a story of the fierce battle he has waged against the tough economic conditions he has suffered as a Yemeni citizen in Aden governorate.
Published on 3 May 2012 by Khalid Al-Karimi in Business
In the distant past, there was no such thing as a woman driving in Yemen. These days, driving is a woman's legal right in Yemen. But does she have control over what kind of car to buy and when to buy it?
Published on 26 April 2012 by Amal Al-Yarisi in Business
Fatima Hassan, a maker of handicrafts from Lahj governorate, did not expect that a small loan from the Aden Foundation for Micro-finance would change her life for the better.
Published on 16 April 2012 by Mohammad Al-Samei in Business
Tameem Fuad Al-Shamiri, 29, was born in Hodeida, and holds a business diploma from the British Institute there. Al-Shamiri started working in the trade two years ago when he established a perfume and cosmetics shop in 2010, with ambitions to be a businessman.
Published on 16 April 2012 by Amira Nasser in Business
“No rights, no rules, no law, and no protection," said Fatima Jar-Allah, a poorly-paid contract worker at Sana'a University.
Published on 12 April 2012 by Amal Al-Yarisi in Business
Saleh Mohsin is a grave-digger at Majel Al-Demah cemetery in the capital, Sana'a. He stays at the cemetery from the early morning until the sunset. Grave digging is his only source of employment.
Published on 9 April 2012 by Aish Awas / aish@shebacss.com in Business
Over the last few years, there has been some faint talk of intentions on the part of the GCC states to vary the routes they use to transport their oil exports to the world market.
Anisa Tarboosh: Battling Women’s Poverty in AdenPublished on 2 April 2012 by Sadeq Al-Wesabi in Business
Anisa Tarboosh is one of the most prominent women in Aden governorate, renowned for playing a vital role in the fight against poverty and supporting deprived women in her city.
Published on 26 March 2012 by Mohammad Al-Samei in Business
Published on 19 March 2012 by Ghamdan Abu Ali in Business
Ahmed Al-Mahwiti from Hodeida was a recipient of a micro-finance business loan. His small business started from a humble YR 5,000 investment, but after a number of loans he was able to expand his business to have capital of over YR 1 million.
Published on 15 March 2012 by Fuad Al-Alwai in Business
Ali Abdullah Saleh, the former president of Yemen, is refusing to disclose his total funds and assets, and no one has a clear figure about the real amount that he and his family owns.
Published on 8 March 2012 by Ali Saeed in Business
Yemenis have expressed their dissatisfaction with the fluctuating price of cooking gas that varies across governorates.
Published on 8 March 2012 by Ahmed Dawood in Business
Since the signing of the Gulf Initiative on Nov. 23 last year, Yemen has witnessed many sit-ins and protests at various government institutions demanding, among other things, that corrupt officials leave.
Sales for tiny cadre of regional defense companies fell in 2010, research shows For arms, Mideast is buyer’s, not a seller’s, marketPublished on 1 March 2012 by David Rosenberg / The Media Line in Business
The year 2010 wasn’t a bad one for the world’s top arms makers, but in the Middle East the tiny cadre of defense companies to make it to the Stockholm International Peace Research Institute’s (SIPRI) top 100 list didn’t have much to celebrate. Last year doesn’t look to have been much better.
Celebrating Yemen’s female entrepreneursPublished on 23 February 2012 by Nadia Al-Sakkaf in Business
For six days, eight entrepreneurial projects carried out by Yemeni women were on display at the Yemeni Day event at the Women’s Photo Studio, which itself was started by women.
Published on 16 February 2012 by Sadeq Al-Wesabi in Business
A recent study has shown that $33 billion has been invested in foreign economies by Yemeni expatriates.
The study, carried out by Minister of State Shayef Ezzi Sagheer, showed that the government and private sector have been unable to create successful relations and partnerships with expatriates or to benefit from large companies and political figures of Yemeni origin, particularly in Indonesia and Malaysia.
Over the last few years, many Yemeni expatriate businessmen have been reluctant to invest their money in Yemen because of a lack of security and laws to guarantee investors’ rights.
Some six million Yemeni expatriates live in 55 countries around the world; thousands are businessmen and businesswomen and are highly qualified.
According to the study, around 315 businessmen live in neighboring Saudi Arabia.
The study showed that Yemeni expatriates currently have $5 billion invested within Yemen, less than a quarter of the total amount invested abroad.
Dr. Ali Saif, professor of Economics at Sana’a University, told the Yemen Times that if such an amount of money was smartly invested in Yemen, it would greatly improve the nation’s economy and the fight against unemployment.
“We would be on the same level as other Gulf countries if we invested this money well,” he said. “Unfortunately, Yemen’s investment environment is not encouraging. Land disputes and a lack of fair justice and security make Yemeni and foreign investors reluctant to invest their money in Yemen.”
He said that the amount of investments made by Yemeni expatriates is not high enough, and that he holds the regime responsible for this.
“Investors need enforced legislation and fair justice to guarantee their rights,” he said.
Saif criticized influential officials who have hindered Yemen’s economy. “Yemen has lost out on many projects due to extortion by influential figures, under the pretext of protection.”
However, Saif is optimistic about the possibility of a better economic situation during the transitional period.
Saif called on the government to build up an infrastructure that is able to encourage businessmen to invest in Yemen.
Deteriorating economy
Since the beginning of last year’s uprising, Yemen’s economy has sharply deteriorated, leading to the closure of many private companies and unemployment for thousands of workers.
Mohammed Al-Asadi, Minister of Planning and International Cooperation, has stated that Yemen’s economy needs about $15 billion to recover. Al-Asadi also stated that Yemen needs urgent support for electricity, health, fuel and other basic services.
Published on 16 February 2012 by Amira Al-Arasi in Business
Over the last 18 months, the cost of a single egg has soared to YR 40 – having not exceeded YR 15 in the previous five years – as Yemen’s ongoing political instability continues to affect food prices.
Published on 9 February 2012 by Dr. Moneer Saif in Business
Takaful, which translates into solidarity in English, is an Islamic monetary concept designed to assist and stabilize the financial situations of individuals, families and organizations.
Published on 9 February 2012 by Adel Al-Ashtal in Business
Highlighting the growing demand and urgency for sustainable food security in the Gulf Region, the Bahrain International Garden Show attracted some 15,000 guests over three days last month.
Published on 2 February 2012 by Mohammed bin Sallam in Business
For about three weeks now, Dr. Sa’aduddin bin Ali bin Salem bin Taleb Al-Kathiri has been Minister of Industry and Trade in the new Yemeni government. He was previously a parliament member from 1997 to 2003 and a chairman of International Cooperation and Foreign Affairs at the Supreme National Anti-Corruption Commission (SNACC). He resigned from the commission in 200, accusing it of having become a pool of corruption itself after failures to deal with the Aden Free Zone and corruption in the power sector among other cases.
Published on 26 January 2012 by Sadeq Al-Wesabi in Business
Yemen’s microfinance sector saw massive deterioration in 2011 with some institutions and banks plundered by armed men in war-torn areas, while many clients were unable to pay off loans after fleeing fighting in their home towns and villages.
Published on 19 January 2012 by Ali Saeed in Business
In last Thursday’s issue of the Yemen Times, we presented the first two installments on the economic highlights of the new National Unity Government’s two-year plan. The third part of the economic plan aims to revive Yemen’s economy, which came to a standstill – if not a collapse – after the 11-month, nationwide uprising and demand for the fall of Saleh’s 33-year regime. The new cabinet was formed on December 7 as part of an interim government which includes both Saleh’s party and the traditional opposition Joint Meeting Parties (JMP). The following is the third installment on the economic plan.
Published on 11 February 2012 by Marwa Najmaldeen in Business
Na’aem is a poor woman in her late fifties who manages by collecting the remains of unsold vegetables and discarded fruit. You can find her standing for hours near fruit and vegetable vendors with a plastic bag containing an assortment of rotten tomatoes.
Published on 11 February 2012 by Nadia Al-Sakkaf in Business
Following a severe 10-day diesel shortage, limited quantities have started finding their way from Aden's seaport to main cities around the country.
Flowers wither as turmoil continues in YemenPublished on 20 March 2012 by Sadeq Al-Wesabi in Business
Many shops stand on the brink of bankruptcy as business has plummeted since the beginning of the revolution in Yemen.