In Brief [Archives:2002/11/Business & Economy]

March 11 2002

Developing Insurance business to be discussed in Muscat
Vice-Chairman of Yemeni Federation for Insurance and General-Manager of the United Insurance, Tareq Abdulwasi’a Hail Saeed, left on March 9 for Oman to take part at the meetings of the Arab General Federation for Insurance, scheduled for March 11 to 13.
The meetings will discuss means of developing and marketing insurance services via banks, the Internet and the mass media.
The Federation Council is comprised of representatives from insurance companies operating at insurance markets at different markets.
First private sector refinery
President Ali Abdulah Saleh has laid the foundation for the first privately-owned oil refinery in Hadramaut at the cost of US 890 million, and reduction capacity of 100,000 barrel a day.
This refinery is run by investors from Saudi Arabia and the UAE.
Yemen also has a refinery in Mareb with the capacity of 10,000 barrels and another one in Aden with the capacity of 100,000 barrels per day.
National conference on Qat
Cabinet approved holding a national conference on qat from April 3 to 4. The conference aims at evaluating all economic, social and health related aspects of qat-chewing and cultivation.
In addition, it will outline new qat policies to be adopted by the government.
The conference will discuss eight studies on several topics closely related to qat and its impact on environment, health, society and water resources.
Small enterprise promotion course comes to a close
A training course on ways to promote small enterprise was recently held in Aden.
The course was organized by the Chambers of Commerce & Industry, in cooperation with the German Technical Cooperation Agency (GTZ). Participants received lectures on ways and means of developing and running small enterprises in an efficient manner.