Facts, News, Trends, Analysis
The Emiriati DP World Group based in Dubai announced it has officially taken control over the container operations at Yemen’s port of Aden in a joint agreement with the Yemen Gulf of Aden Port Corporation. The agreement includes leasing the Aden Container Terminal and the nearby Ma’alla Container Terminal. It completes an attempt to invest [...]
Turkey hosted the World Economic Forum, a three-day conference that included leaders from around the globe, particularly Europe and Central Asia, to discuss the falling market and how nations can protect themselves. There appears to be a contentious struggle between the developing and developed economies, and how the former are caught in a downward economic [...]
The October flood that devastated Yemen, killing approximately 180 and leaving over 10,000 others homeless is projected to cost up to $1 billion. Damages include roads, houses and agriculture-all of which have been ruined. About 2000 houses are estimated to have been destroyed. The World Bank projected the figure after a group of donors met [...]
The World Bank said this week that if Israel eased restrictions on the Palestinian economy, it could take off. A World Bank delegation was in Hamas-controlled Gaza this week to inaugurate a sewage facility that took three years to build rather than the nine months scheduled. The World Bank is trying to encourage and increase [...]
In the wake of international sanctions placed on Iran over its nuclear program, many banks in the United Arab Emirates have frozen assets of Iranian firms and refused to do business with Iranian merchants. Iran is suffering from sanctions that have been placed on the country, largely as a result of pressures from the United [...]
Yemen’s unstable economy is undergoing even more hardships with the emigration of many Ethiopians and Eritreans. Yemen allows Somali refugees into the country, but recently many Ethiopians and Eritreans have been going through Somalia in order to get into Yemen. The emigrants have been a drain on the economy because many of the Ethiopians and [...]
Yemen has participated in the Development Committee meeting held on the sidelines of the World Bank (WB) and International Monetary Fund (IMF). The meeting took place in Washington, DC October 14, 2008. Deputy Premier for Economic Affairs Abdul Karim al-Arhabi headed Yemen’s delegation. Robert Zilik, the President of the World Bank also attended the conference. [...]
In the week of September 15, 2008 the US Ambassador to Yemen Stephen A . Seche signed a Limited Scope Grant Agreement (LSGA) with the Yemeni Ministry of Planning and International Cooperation to donate more than $3.1 million to support programs to help Yemeni youth gain valuable skills that will help them succeed in today’s [...]
The Libyan government has decided to start distributing oil revenue among its citizens in order to create a more diverse economy. The plan is set to take effect next year. However, no details of the project or how funds will distributed have been revealed. Many questions have been posed concerning the economic outcome of this [...]
