Economy News [Archives:2001/27/Business & Economy]

July 2 2001

American Financial Aid to Yemen
An American grant of US$ 31.25 million has been recently received by Yemen. The grant which comes within an aid program will be utilized for implementation of a number of developmental projects in the fields of roads, water, education, bridges, etc.
Net Profits of CBY: 20.6 Billion Rials
Net profits of the Central Bank of Yemen (CBY) reached 20,600,000 000 rials during the financial year 2000 out of which 15,000,000,000 is revenues of the bank from external assets.
US$ 1.45 per Barrel of Al-Masilah Crude Oil
The Yemeni Oil & Gas Corporation has priced the exported crude oil of Al-Masilah at US$ 1.45 per barrel. Chief among importers of Al-Masilah crude oil are BP, Total, etc.
Yemeni-Saudi Relations Conference
The first session of Yemeni Saudi Relations held in Sana’a last week to discuss development of the economic systems, promotion of investment in the two countries, transit trade, financing infrastructure by private sector, increase the volume of trade exchange between the two countries.