Business in brief [Archives:2006/989/Business & Economy]

October 12 2006

– Finland to take part in the Yemen Donors conference

The Republic of Finland, which is the current chair of the European Union, has emphasized it will play a strong role in the London donors' conference next month. The bilateral relations of Yemen and Finland were discussed during the visit of Minister of Planning and International Abdul- Kareem Al-Arhabi to Helisiki.

– First lead and silver mine in Yemen

The Ministry of Petroleum and Mineral Resources has signed an agreement through the affiliated Authority of Geological Research with the Jabal Salb Company represented by its major shareholders, ZincOx of UK, Anglo-American company and Ensan Company of Yemen, in order to extract Lead and Silver from a mine in Neham area in Sana'a governorate. Minister of Petroleum and Mineral Resouces, Khalid Bahah, indicated that is the first agreement of its kind in order to the extract mineral resources of Yemen.

– Waived customs worth YR 6 billion for investments

A total of over YR 5.954 billion in customs duties have been waved for 17 investment projects to take place in the Aden Free Zone, in line with the new measures the government is undertaking through the Investment Promotion Authority in order to attract new investment in the Industrial zones allocated in several parts of the country.

– Micro financing fund finances 182 projects

The micro financing fund for tiny enterprises has given out YR 99 million and YR 805 thousand in loans to finance 182 projects, aiming to provide long-term employment for 343 people in Hodieda governorate which has the highest rate of poverty in the country.

– Unitel attracts more Investments

SyriaTel has joined in the alliance of Unitel, the third GSM provider in Yemen, by a share of 10 percent of the alliance, which has a total worth of US$ 335 million, and will start operation in the second quarter of next year.

– Apollo Expo organizes Eid Exhibition

Apollo for exhibitions is organizing Eid Al-Fitr exhibition, in which many clothing companies as well as consumer goods and other products will participate and great discounts will be offered at the exhibition. The exhibition aims at providing all Eid products under one roof and with convenient prices for the customers.

– Qatar Airways received four more accolades

Award-winning Qatar Airways has boosted its tally of international honors by winning four more accolades for the World's leading Business Class airline; the world leading Airline inflight meal service, leading airline in the Middle East as well as the leading Middle East business class airline.