Business In Brief [Archives:2008/1143/Business & Economy]
– Tax Authority to decrease income tax
Director of the tax authority Mr. Ahmed Ghalib stated that the authority has presented a draft to the cabinet in order to decrease the income tax of employees in Yemen, adding that the authority is utilizing the consulting services in order to increase the efficiency of the authority, adding that the authority is seeking funding in order to computerize its services.
– Parliament approves law to create deposit insurance company
The parliament has passed a law to establish the deposit insurance company in order to supervise the activates of insured banks to protect the rights of depositors. The law is devised into eight chapters covering several topics including the creation of the company to the bankruptcy of an insured bank.
– Businessmen donate US$ 1.5 million to build a college
Businessmen Buqshan and Al-Amoudi has donated US$ 1.5 million in order to build a nursing college in Hadhramout university for science and technology. Several other facilities within the university were constructed through Saudi financers, including a teaching hospital, a cancer treatment hospital, and a technology facility will be constructed in the same manner.
– Fisheries ministry to merge two affiliated companies
The Ministry of fisheries announced plans to merge the coastal fishing company with the fisheries marketing services company into a single company to increase efficiency and reduce overhead. The merger of the two government-owned companies are currently in loss.
– Aden Free Zone grants licenses to five new companies
The Aden Free zone has announced that it has granted licenses to five new companies to operate in the free zone, these are Enma construction and real estate developers, Aden for concrete, Safer for technical services, Talsco shipping company, and fishing boats equipping company.
– Sana'a local council to control the supply of wheat
The Sana'a local council has decided to intervene in the local market through controlling the supply of wheat towards stabilizing the prices and supply of wheat. The local council also is working towards stabilizing the supply of all food stuff in the capital following the success of this model.
——
[archive-e:1143-v:18-y:2008-d:2008-04-03-p:b&e]
