Economic News [Archives:2001/38/Business & Economy]

September 17 2001

Yemen and Saudi Arabia Signs Loans Agreements
Two loans agreements were signed between Yemen and the Saudi development fund. The two loans will be used to finance the expansion of Sana’a electricity project and Al-Hiswa station in Aden. The two loans are estimated at 187.5 million Saudi riyals. The two agreement were signed by the Yemenis minister of planning and development Ahmed Soffan and the managing director of the Saudi development fund Mr. Ebrahim Al-Bassam.

Radio and Television Broadcast to Cover the Whole Country
The Cabinet approved the final accounts of economic and mixed sector units for the year 2000 which includes revenues, current expenditures and capital investment and surplus as a result of the units activities.
The cabinet also approved a project for coverage of the entire country by radio and television broadcasts which was presented by the Ministry of Information. The project aims at reaching remote areas.
The Cabinet also discussed a report by the Ministry of Finance regarding the country’s foreign debt which has been reduced from over nine Billion U dollars to just over four billion dollars by The cabinet praised highly president Ali Abdullah Saleh wise instructions to the government regarding policies adopted by the government especially the impact on the economic revival and the cut reduction of foreign debt. The cabinet adopted a decision to form a Ministerial committee to manage foreign debt to be headed by the deputy prime minister and finance minister.

Yemen Exports Salt to Ethiopia
About 3750 tons of salt, totaling YRs 110 million, was exported to Ethiopia from January to August 2001.
Studies show that salt production of the General Authority of Salt in Aden has been in high demands by many international markets. They add that the authority has been recommended to obtain the Gold prize of the Trading Club in Europe and the Egyptian Al-Fares Gold Prize in recognition of the high quality of its production.
The first prize will be received in October, 2001 in Paris, while the second will be received in November, 2001 in Cairo.

Yemeni-Kenyan agricultural cooperation
Mr. Abdulrahman b. Bureik, Charg d’ Affaires of the Yemeni Embassy in Kenya discussed with the Kenyan Minister of Agriculture and Rural Development means of cooperation in the agricultural domains.

Workshop on Child covenant
In cooperation with the Supreme Council of Motherhood and Childhood, the International Council of Muslim female Scholars organized a workshop on the Child Covenant presented in the New York Conference.
The workshop discussed the concept of children’s rights in Islam, articles of the covenant, agenda of the conference and coordination with governmental and Non-governmental organizations.