Business In Brief [Archives:2008/1171/Business & Economy]

July 10 2008

– Yemen Oil Exports Exceed US$ 2 billion

Central Bank Statistics indicated that Yemen's oil sales during the period January – May 2008 has reached US$ 2.1 billion, compared to US$ 1.015 billion during the same period of 2007. Furthermore, Oil production in the same period has increased from 16.86 million barrels in 2007 to 19.61 million barrels in 2008.

– Social Affairs: One Million Yemenis on welfare

Minister of Social Affairs Amat Al-Razak Hummad has stated that over one million Yemeni people are receiving welfare assistance, thereby benefitting another four million persons indirectly who experience improvements in their quality of life. Yemen's welfare systems provides assistance ranging from US$ 15 – 100 per family.

– FAO grants US$ 500,000 for Yemen's Agricultural sector

The United Nations Food and Agricultural Organization has granted US$ 500,000 to improve the usage of improved seeds among Yemen's small scale farmers. This grant aims at increasing Yemen's agricultural production and in turn improve food security in Yemen.

– Yemen to receive US$ 34 million for water and sewage systems

The government of Yemen will receive 10 million Kuwaiti Dollars (US$ 34.6 million) as a loan from the Kuwait-based Arab Fund for Social and Economic Development, in order to construct Aden's Water and Sewage systems.

– GIA registers 85 new projects in Q2, 2008

The General Investment Authority has registered 85 new projects during the period April – June 2008 (Q2). The new projects are worth 106 billion Riyals and will provide around 3500 new work opportunities.

– JITCOM Information Technology Exhibition launched

Organized by Apollo Expos, JITCOM Al-Jazeera Information Technology exhibition was launched by Prime Minister Mujawar last week. The exhibition includes 33 participating companies exhibiting their latest technologies and offering special sale discounts to visitors.