Business In Brief [Archives:2007/1021/Business & Economy]

February 1 2007

Government & Businessmen agree to enforce Sales Tax

The government has agreed with the Union of Chambers of commerce to enforce the Sales Tax after making several modifications to be agreed on within six months with assistance from International and Regional taxation experts.

Middle East Development Corp. to build an economic city in Yemen

President Saleh has met with Sheikh Tariq bin Laden who expressed willingness to build an economic city in Yemen to include industrial zones, business centers, hotels, entertainment venues as well as a sea and air ports, detailed plans will be announced on due course.

President Saleh calls on businessmen to promote Yemen

President Ali Abdullah Saleh has called on local and regional businessmen to promote investment in Yemen in preparation for the Invest in Yemen conference. He stated that local businessmen who welcome regional investors and work with them for more economic growth in the country.

700 Businessmen to participate in Invest in Yemen conference

Secretary-General of the Gulf Cooperative Council has stated that over 700 gulf-based businessmen and investors will participate in the Invest in Yemen conference to be held on 8-10 April 2007.

Family Businesses Conference

to be held

The Yemeni Businessmen Club to organize the First Family Businesses conference scheduled to be held in Sana'a on the 21st – 22nd February.

Tadhamon Islamic Bank Achieves 51 percent growth in income

Tadhamon International Islamic Bank has achieved 51 percent growth in income in 2006 reaching to 12,649,360,000 Riyals, over half of which was returns on overseas investments.