Business in Brief [Archives:2007/1105/Business & Economy]

November 22 2007

A Billion Saudi Riyals in programmed assistance to Yemen

The Yemeni-Saudi coordination council has programmed One billion Saudi Riyals in development assistance, for the health, vocational training, energy, judiciary, fisheries, agriculture, air transport, minerals and higher education.

Al-Mutawakel: Yemen to adhere to WTO regulations

Minister of Trade and Industry Dr. Yahya Al-Mutawakel has stated that Yemen is striving in order to ensure full adherence to the World Trade Organization's regulations relating to protecting local industries. He also emphasized the importance of technical assistance to help Yemen's accession to the trade organization.

PM Mujawar discusses development of banking sector

Prime Minister Mujawar has met with the Yemeni bankers association, and discussed a number of possible legal changes in the banking law in order to help commercial banks grow and expand their portfolios, as well facilitating bank mergers in preparation for the upcoming phase for liberalizing the banking sector.

US government trains Anti-corruption committee on combating corruption

The United States Government has conducted a training retreat for members of the Anti-corruption committee on how to train corruption. The training also included helping the committee formulate the National anti-corruption strategy and also the national alliance for integrity in order to limit the devastating impact of corruption on the country.

Al-Attar: Dubai Ports to renegotiate Aden Port management contract

Director of the General Investment Authority Salah Al-Attar has stated that negotiations with Dubai Ports Corporation was resumed after a three-year halt in negotiations. Al-Attar stated that the two parts will come to a final consensus and with regards to the future of the Aden port shortly.

Tax simplification project launched

The IFC and the Yemeni tax Authority has signed an agreement in order to embark on a Tax simplification project in order to enhance efficiency within the tax authority and increase the number of tax payers through revising the taxable structure administered by the authority.

Population Council warns of population explosion

The National Population Council has warned that Yemen's continuous population growth is harmful to the economy and social peace, calling on Civil Society organizations and the media to play a role in creating awareness of the true size of the problem. The council is also participating in the national population conference which will be held from the 10-12 December in order to discuss population growth in the country.

74 percent of Yemen LNG's plant completed

Sources at the Yemen Liquefied Natural Gas company has indicated that 74 percent of the construction of the Liquefaction plant located in Belhaf bir Ali. The plant will start operation towards the end of 2008.