Business for Peace Award
1654, Section: Business

Business

Yemen’s exchange rate is closely tied to oil exports and foreign development assistance, both of which are threatened and could result in a steep rise on the current rate of YR215 to the dollar.

The future of Yemeni Rial

Published on 15 January 2015 by Jeremy Hodge in Business

Since the country’s uprising in 2011, Yemen has been embroiled in constant political turmoil that has bred intense economic unrest.

Managing a shop makes Lena Ahmed financially independent and helps to support her family, but she also thinks there is more at stake. “I don’t just want to change myself, I want to help improve my entire society.”  (Photo by Khalid Al-Karimi)

Defying the expected: Yemeni women in the formal economy

Published on 1 January 2015 by Khalid Al-Karimi in Business

Walking into Queens Shop, Lena Ahmed, 34, can be found sitting at the storefront awaiting customers. Not wearing the face-covering niqab, it becomes clear she is a Yemeni woman. There are passersby who might object to it, but Lena, who is originally from Taiz, says she is proud to be managing a business on her own. When she accepted the position four months ago, her family was hesitant. “I don’t feel like I am doing anything wrong, though. I am convinced that not every tradition or custom is right,” she said.

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

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