Business in brief [Archives:2006/969/Business & Economy]

August 3 2006

– New electricity and power projects in Aden and Abyan

Yemeni Vice President Abdu Rabo Mansour Hadhi has inaugurated a 70-megawatt power generation and electricity expansion project in Aden's Al-Mansora district to meet increasing demand, especially during the hot summer season. Additionally, Hadhi also inaugurated a five-megawatt power plant in Abyan's Jeear district and another in Abyan's Mukayras district, with a capacity of 20 megawatts.

– Saleh re-election committee refuses transferring donations to GPC

The private sector committee to support financing President Ali Abdullah Saleh's re-election campaign in the upcoming presidential election has refused to transfer amounts collected so far – more than YR 510 million – to the General People's Congress on the grounds that the GPC suffers high levels of corruption and the funds will be used for purposes other that what the donor businessmen originally decided, thus indicating that the committee is working to launch its own campaign for Saleh parallel to the GPC's official campaign.

– Micro-financing workshop concludes

The Social Fund for Development's Small Enterprise Unit recently organized a micro-financing workshop to enhance links between the unit and its micro-financing partners. In the workshop, Mohammed Al-Laye indicated that micro-financing is an important tool for poverty reduction, as evidenced by 12 micro-financing schemes currently operating in various parts of the country, thanks to generous support from President Saleh, who allocated YR 20 billion for the schemes.

– Money laundering and terrorism discussed

In a workshop arranged by the Yemeni Bank for building and construction, 30 participants from various banks discussed the current problem of money laundering, how to detect susceptible transactions and inspecting client documents, as well as various dealings and banking transactions. Bank sources noted that the workshop is one of a series aimed at discussing new developments in the banking sector.

– Traditional fishing regulated in Hadhramout

Under the chairmanship of Governor Abdulqader Hilal, Hadhramout governorate's municipal council has approved a set of rules and regulations aimed at regulating traditional fishing activities in the governorate in order to maintain the sustainability of fisheries and limit damage to marine wealth. The new regulations include strict punitive measures governing the practices of traditional fishermen.

– Kuwaiti investors eye Aden Free Zone

The Kuwaiti General Storage Investments company has expressed a desire to invest in Aden Free Zone, especially in areas of storage and warehousing facilities. A delegation of four Kuwaiti investors recently visited Aden Free Zone to learn about investment opportunities and existing procedures to facilitate their investment in the Free Zone.

– Summer 2006 exhibition at Apollo Expo

SANA'A, July 25 ) Apollo Exhibitions is organizing a 10-day exhibition with the participation of more than 40 domestic and international companies selling various products, including electronics, home and office furniture, clothing and apparel items, etc.