1554, Section: Business
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.
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.
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.
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.
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.
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?
Published on 1 April 2014 by Kawkab al-Thaibani in Business
UNDP Youth Economic Empowerment Project
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.
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.
Published on 25 March 2014 by Rashid Al-Hadad in Business
A new wave of privatization has is causing widespread concern among public sector employees. The growing concern began to surface after Yemen's national agreement to join the World Trade Organization, which obligates Yemen to liberalize 11 service sectors within a maximum of five years starting from January next year.