Their News [Archives:2008/1133/Local News]

February 28 2008

– CAC Bank to open four new branches

The Cooperative Agriculture Credit Bank has announced that it will open four new branches in the gulf countries and Africa.

The expansion comes as a step to provide monetary facilities to the Yemeni communities in those areas.

“The new four branches come as a step in the bank's broader policy of expansion in order to become a renowned national and regional bank,” said Hafadh Fakhar Ma'ayad, chairman of CAC regional bank.

He also indicated that the preparation to open the bank's first branch abroad in Jeddah, Saudi Arabia are ongoing. The Jeddah branch is supposed to be launched in the first half of this year as the Saudi government had granted the permission.

Similarly, preparations to open branches in Djibouti and Addis Ababa are underway as the formal communication between the bank and the authorities have started. The bank is also waiting on the Qatari government's response regarding its request to open a branch in Doha.

Moreover, the bank's management has agreed with the Ministry of Migrants' Affairs to create a system for subsidized monetary transfers through CAC Bank, while the transfers would be made for free for Yemenis with accounts in the bank's branches abroad.

– IATA Calls for Environmental Leadership in Asia

The International Air Transport Association (IATA) called on Asia to play a leadership role in driving the aviation industry towards carbon neutral growth leading to a zero-emission industry.

By 2010 Asia will be the largest single market for aviation. With size comes leadership responsibility. And that includes environment issues, said Giovanni Bisignani, IATA's Director General and CEO in a keynote address at the Greener Skies for Asia 2008 conference in Hong Kong. “My focus is on reducing carbon emissions. And reducing fuel burn is at the heart of the issue. Every litre of fuel we can save reduces CO2 emissions by over 3 kilograms. By shortening routes, improving air traffic management and spreading best practice in fuel conservation IATA helped save up to 25 million tonnes of CO2 in the last two years,” said Bisignani. “There are lots of opportunities in Asia,” said Bisignani citing examples for innovation from around the region, including the introduction of new air traffic procedures in Japan, more efficient routings in China and the ASPIRE air traffic management joint initiative of Air Services Australia, the US FAA and Airways New Zealand.

Bisignani said that implementation must speed up, noting particularly the air traffic management system for the five airports in the Pearl River Delta region of China. “We have seen some improvement in delays in the Golden Triangle of Beijing, Shanghai and Hong Kong/Guangzhou. But the time required to sort out the Pearl River Delta's complicated system is frustratingly slow. We appreciate the cooperation of all involved. But cooperation without results is not effective. We must speed up with some interim solutions,” said Bisignani.

– Concerning the recent

Turkish military operations in northern Iraq

In a press release by the Turkish embassy in Yemen, the Turkish government stated that the PKK/KONGRA-GEL terror organization has continued its murderous campaign against Turkish citizens from its bases in the north of Iraq. Over the years countless lives have been lost due to the PKK terrorism. The terror attacks have intensified in recent months. Turkey has the responsibility and determination to protect its citizens against the attacks of the terror organization.

Numerous diplomatic attempts have been made to resolve the problem of terrorist presence and activities in northern Iraq. Since December 12007, Turkey has initiated air operations against PKK terrorist targets in northern Iraq. These operations have exclusively targeted the terrorist organising. Utmost care has been shown in order to prevent civilian causality. In the same vein, on February 21, Turkish Armed Forces launched a ground operation supported by air assets. The sold target f the ground operation is the PKK terror organisation. This operation will be limited in size, scope and duration. Turkey has been among eh staunchest advocates of the territorial integrity, sovereignty and national unity of Iraq, and Turkish civilian and military authorities have been in contact with the relevant Iraqi and US authorities at highest levels prior to the operations.

– The World Bank on Ethiopia's economic success story

A World Bank delegation, led by Executive Director Giovani Majnoni, held discussions with Prime Minister Meles Zenawi and Minister of Finance and Economic Development, Ato Sofian Ahmed, and other senior officials over the weekend. The delegation, on a two day visit, described cooperation between Ethiopia and the World Bank as “incredibly successful”: the World Bank appreciated the economic management of the Government and described it as “brilliant”. Underlining the fact that the Bank was a major supporter of Ethiopia's development efforts, Director Majnoni said “Ethiopia definitely has a success story. And the Bank will try to do whatever it can to help this success to continue”. The delegation discussed ways of further enhancement of cooperation