in Brief [Archives:2008/1117/Business & Economy]

December 3 2008

– Bashammakh dies

President of the Sana'a Chambore of commerce Mahfoudh BaShammakh has died of a heart attack last Tuesday, January 1st 2008. BaShammakh was one of the most prominent businessmen in Yemen, venturing into several industries and was also the a leadership figure and a founder of several business associations. He has lead several protests contesting the Sales Tax law and the proposed Value-Added Tax, and was known to expose government and privet sector corruption. He died of 70 years old.

– Government to invest 614 billion Riyals in 2008

Ministry of Planning and International Cooperation has stated that the government has allocated 614.4 billion Riyals for infrastructure and other investments in 2008. Around half of this investment will be funded by the government, while the other half will depend on assistance received from donors as a part of the promises made at the November 2006 donors' conference.

– Ministry to withdraw unfit toothpaste

Ministry of Trade has issued instructions to withdraw a brand of toothpaste (Smile2) from the domestic market, on grounds that the product is unfit for human use, containing harmful chemicals. The toothpaste was first allowed into the country in June 2007, with permitted entry through Aden port following initial examinations of fitness which were fraudulent.

– Significant growth in Yemen's fish production

Yemen's production of deep-sea fisheries has increased from 1547 tonnes in 2005 to 26,382 tonnes in 2006 according to official sources, with an increase of 24,835 tonnes. The increase was the result of increased investments in fisheries and the creation and support of fishing cooperatives, which have attracted more fishermen and businesses to invest in the fishing sector.

– Australia's Oilsearch expands exploration activities

Australia's OilSearch oil company has expanded its oil exploration activities in block 3 located in Shabwa governorate. The oil exploration activities will be undertaken by China's B.G.P company over the period of five months.

– SNACC demands cooperation from top officials

The supereme national authority for combating corruption (SNACC) has demanded that top officials within the government to submit the total net worth disclosure statements in accordance to law number 30/2007. SNACC has received only 167 disclosure statement, while over 2,000 disclosure templates has been sent to various government agencies.

– Hadhramout workers go on Strike

Following calls by the labor association of Hadhramout, numbers of workers and civil servants have wore the red batches on their arms in protest for ignoring their demands for the implementation of laws 69/2005 and law 239/2005 for civil services, which includes a significant payrise which they were promised that will be implemented before the end of 2007.

– New Road to link Utmah and Dhammar

Works in a 57-km road linking Utmah with Dhammar governorate was inaugurated recently, linking in-between the cities of Aanis, Utmah, and Al-Daleel, in order to vitalize the surrounding villages and increase the number of feeder road and accessibility of locals to nearest urban centers. This road goes across the areas with the highest population density in the country.