ECONOMY NEWS [Archives:2001/18/Business & Economy]

April 30 2001

Yemen’s Loans from Russia on The President’s Agenda
During his proposed visit to Russia in May, 2001, President Ali Abdullah Saleh will discuss with his Russian counterpart rescheduling Yemen’s loans from Russia which is estimated at US$ 1.2 billion. Russia has already dropped 80% of the total Yemeni’s loans estimated at US$ 6 billion.
Twenty Million RS Capital of Businesswomen Co.
The total capital of the Yemen Businesswomen Company has reached 20 million rials. The company is a joint venture comprising 25 share-holders who are specialized in different domains. Activities of the company range from foodstuff manufacturing, small enterprises development, marketing products and works for the handicapped, organizing training courses for women in weaving, Embroidery, make up, hair-dressing, etc.
Increasing Taxes & Infrastructure Privatization , Priorities of the Government’s Program.
In its new agenda, the government concentrates on giving the private sector a chance to invest in the infrastructure facilities such as electricity, telecommunications, water and roads within the program of privatizing the public organizations.
The program also includes the issuance of the Sales Tax Law, reconsidering the Income Tax Law as well as lifting subsidies on oil products which will lead to a rise in the prices of oil products, gas and diesel.