Business for Peace Award
1551, Section: Business

Business

Discussion session held by ROWAD with young entrepreneurs.

To build an entrepreneurship ecosystem in Yemen

Published on 18 December 2014 by Adeeb Qasem in Business

Ever since the 2011 uprising, Yemen’s political process has taken priority over all other aspects of development. This seems unreasonable, given that Yemen’s shattered economy constitutes a key challenge to citizens and policy-makers alike.

How fuel prices led to the government’s fall Budget deficit spells grim economic forecast

Published on 2 December 2014 by Ali Saeed in Business

The decision by the Yemeni government to lift fuel subsidies on July 30 granted the Houthis the populist mandate they needed to ride into town and seize power this summer. After a month of setting up camp in and around the capital, the Shia rebel group based out of Sa’ada took over Sana’a on Sept. 21, prompting the government to sign a Peace and National Partnership Agreement with the movement. The effects of the revolt have since led to significant changes in Yemen’s political landscape.

(Source: EB)

Yemen still awaits external aid

Published on 16 September 2014 by Ali Saeed in Business

Only 38.8 percent of Yemen’s external financial aid has been disbursed since donors pledged the money in Sept 2012, the Executive Bureau for the Acceleration of Aid Absorption and Support for Policy Reforms, commonly shortened to the EB, announced on Saturday.

Price hike

Removal of fuel subsidies results in price instability

Published on 7 August 2014 by Nasser Al-Sakkaf in Business

More than a week after the government lifted the fuel subsidies bus drivers in Sana'a and other governorates have still not committed to a fixed price for transportation fees.

With Yemen’s microfinance sector booming, an increasing number of women and youth get microcredits in hopes of breaking the cycle of poverty in their families and communities, although they do come with a risk. Archive photo: Aden Microfinance Foundation

Microfinance in Yemen thrives despite economic troubles

Published on 5 August 2014 by Ali Abulohoom in Business

Having heard about the Al-Amal Microfinance Bank (AMB), which was established in 2009 to run micro enterprises, Bashir Al-Haj headed for one of the AMB’s branches in Sana'a with the hope of getting a loan.

Road construction dries up local businesses

Published on 10 June 2014 by Ali Abulohoom in Business

Yemen for Kitchens, an appliance store on Hadda Street in Sana'a that has been operating for 17 years, recently laid off four of its workers because of the financial losses it has faced since early 2013.

Balhaf Terminal exports up to 12.5‭ ‬billion cubic meters of gas per year‭. ‬

Re-Energizing Yemen’s Energy Sector

Published on 2 June 2014 by Murad Alazzany in Business

Yemen is not a major energy resource producer when compared to its Gulf neighbors, but its economy is heavily dependent on oil revenue. In 2010, just before the uprisings, approximately 60%  to 70% of Yemeni government revenues and over 90% of foreign exchange earnings came from the sale of oil and gas.  Oil reserves and production are in two basins—one in the Marib and Shabwa governorates and one in the east in Hadramout. There is speculation that Yemen may have larger reserves which hitherto have remained un-exploited because of the enduring security situation. What can Yemen do to maximize its oil resources moving forward?

The 3x6 initiative has introduced painting as a way for youth to generate income. The project considers economic empowerment, particularly for women, to be a vital part of the country’s economic recovery.

This article has photo galleryWomen painters fight unemployment, challenge gender stereotypes

Published on 1 April 2014 by Kawkab al-Thaibani in Business

UNDP Youth Economic Empowerment Project

Arhab program repairs infrastructure, empowers youth

Published on 1 April 2014 by Ali Abulohoom in Business

“Lack of employment and prospects for youth has been at the basis of the so-called Arab Spring. Without addressing this priority, the political transition in the country risks being unsustainable,” according to Gustavo González, United Nations Development Programme (UNDP) Senior Country Director.

Where Yemen is at: Donor pledges vs. government action

Published on 25 March 2014 by Nadia Al-Sakkaf in Business

In 2012, Yemen requested assistance from the donor community to cover a deficit of $11.7 billion to fund the Transitional Program for Stability and Development (TPSD) for the years 2012-2014. The same year donors pledged $7.9 billion for the years 2012-2015, more than half coming from GCC countries, to help cover this funding gap. By Jan. 30, 2014 more than 90 percent of these pledges have been allocated, which means they have been reserved by the donors to specific projects in the TPSD.

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