Business in Brief [Archives:2008/1209/Business & Economy]

November 20 2008

– Canadian Nexen grants $ 1 mln to eastern provinces of Yemen

Canadian Nexen Petroleum company has provided one million dollars to help the victims of the flash flood and heavy rains took place last month in Mahrah and Hadramout provinces.

The grant was offered during a meeting held here between Oil and Minerals Minister Ameer al-Aidrous and General Manager of the company in Yemen Gregor Mawhinney.

During their meeting, al-Aidrous and Mawhinney reviewed the company's future investment plans in Yemen, especially in the field of gas.

The two sides also discussed the company's activities in the oil exploration and production in its blocks in addition to its efforts in social development in the country.

– Aden intends to economically twin with US city

Aden governor Adnan al-Jiffry held talks on Tuesday with the political attache of the US embassy in Sana'a Kilmer Villain over possibilities of twinning between Aden and any United States city regarding economic activities in order to make use of its experiences to contributes to pushing the governorate's economic development.

The meeting focused on existing cooperation ties between Yemen and the United States in Yemeni coast guard training, combating sea piracy and means of boosting their horizons.

Al-Jiffry hailed existing cooperation ties between the two countries which witnessed progress in various political,economic, developmental, security and terrorism combating fields.

He reviewed current rapid development in Aden in all sides and growing investment coming to the governorate, specially in Aden Free Zone.

On his part, the US political attache hailed development of Aden governorate in all fields and its significant tourist components.

– Aden needs YR31.5 bln to improve infrastructure

The Supervisory Committee for Gulf 20th discussed on Tuesday the estimated budget of YR 31,593,854,000 required to develop infrastructure in Aden governorate.

The meeting reviewed the amounts presented by the various services sectors to cover costs of the projects necessary to host this significant sport event.

The amount has been distributed among road sector (YR3.9 billion), health sector (YR13.5 billion), electricity sector (YR4.4 billion), water and sanitation (YR2.2 billion), security sector (YR765.2 million), telecommunication (YR400 million) and cleaning and improvement (YR6.42 billion).

The committee demanded all these sectors to present studies for the projects they want to implement in two months, asserting that the amounts would be allocated according to the studies.

– SEMC organizes seminar over risks of money laundering on national economy

The Studies and Economic Media Center (SEMC) organized on Tuesday a one-day seminar in Sana'a on “risks of money laundering on national economy””.

It was organized in cooperation with Cooperative and Agricultural Credit Bank (CAC Bank).

In the opening session