Business in brief [Archives:2006/979/Business & Economy]

August 7 2006

GCC committee to discuss Yemen's rehabilitation

In Their Hundredth meeting in Jedda, the GPC foreign affairs committee have decided to hold a meeting in Sana'a on the 31st of October in order to discuss and potentially endorse the Plan laid by Yemen for the London donors conference held to be held in London on the 15th of following November.

GCC investments in Yemen less than US$ 200 million

Deputy Minister of Trade and Industry Mr. Ahmed Al-Sayaghi has stated that the total investment in Yemen originating from the Gulf Cooperative Council is less than US$ 200 million in spite of the existence of investment opportunities worth over US$ 7 billion, Indicating that Yemen is trying hard to attract more investments from the Gulf through providing exceptional incentives and schemes for new investors.

Yemen halts exports

of fisheries temporarily

Ministry of Fisheries has issued precise instructions to stop the exports of eight types of fisheries for three months due to the shortage of supply of these types in the local market and in turn the increase in the prices of these fisheries.

OPM announces

record traffic

Overseas Port Management – Aden, Operators of Aden Port Terminal have announced that over 183395 Twenty-Foot containers or equivalent have crossed the berths of the container terminal port during the period Jan – Aug 2006, with a growth of 16.7% compared to last year's traffic.

DNO's Tasour well

begins production

Norway's DNO ASA said that it has completed drilling well Number 22 at the Tasour oil field and that oil has initially flowed at a rate of 6,440 barrels per day, while prospects at the Tasour Block 32 seems to be promising but will start production in the last quarter of 2006 with an estimation of 2000-4000 barrels per day.