Business in Brief [Archives:2007/1039/Business & Economy]

April 5 2007

Parliament Approves Financial Leasing Bill

The Parliament has approved the financial leasing law after debating it for over seven sessions; the law would allow financial institutions and banks to provide financial leasing services to their clients in accordance with the approved legal framework. Financial leasing is expect to help small and tiny enterprises grow through acquiring access to capital assets without having to provide securities needed for loans.

Investors construct a sugar refining plant in Mukalla

Yemeni, Lebanese and Spanish investors are undergoing negotiations with the local authorities in Hadhramout in order to construct a sugar refining plant in Mukalla, with a capital of US$ 230 million, to produce an annual output of 600,000 tonnes for consumption in the local market.

Al-Arhabi: Half of development Aid is for Education & Water

Minister of Planning and International Cooperation AbdulKarim Al-Arhabi has indicated that half of the foreign Aid for Yemen is directed towards solving the Illiteracy problem and the Water Crises, adding that his ministry has adopted a new policy to ensure better efficiency in handling development aid.

Parliament to approve consumer protection act

Sources in Yemeni Authority for standards has indicated that the parliament has completed revising the consumer protection act, and that this act would be approved within one month. The act will enforce certain standards and restrictions that aim to protect the rights of consumers in the domestic market.

Yemeni Businesswomen to establish a women-only firm!

Fawzya Nasher, president of the Yemeni Businesswomen Council, has declared that several businesswomen are negotiating to establish a women-only business enterprise, and the new venture would be mutually exclusive for women and only women would be allowed to buy-in this proposed company!

Qatar Airways Awards Agents

Qatar Airways held the annual agents awards night on the 26th of March 2007 in Movenpic hotel, in which it awarded six agents with Platinum, Gold, Silver and Bronze crystal Accolades, and also awarded five more agents with Appreciation Certificates. The awards ceremony was followed by a Gala dinner and a Presentation entitled: Qatar Airways: Past, Present and the Future.