Printer Friendly

Their News (Local).

- Japan abolishes $ 16,8 mln of Yemen's debt

Minister of Planning and International Cooperation Abdul Karim al-Arhabi and Japanese ambassador to Yemen Masakazu Toshikage signed Saturday memos for abolishing $ 16,8 million of Yemen's debt to Japan.

Speaking to Saba, al-Arhabi expressed Yemeni government's appreciation to Japan's initiative for abolishing part of Yemen's debt to Japan, indicating that this initiative reflects continuous development Yemeni- Japanese cooperation relations witness.

The initiative that comes in the framework of supporting Yemen's development is not the first of its kind. Tokyo has previously abolished $38 million of Yemen's total debt for years 2003-2007.

- Yemen's vibrant cellular market will reach 10.5 million subscribers by end of 2012, a cellular penetration rate of 42.4%.

The entrance of a fourth cellular operator in December 2007 has enhanced growth and competition in the Yemeni cellular market. A new report from Arab Advisors Group fully analyzes the Yemeni communications markets.

Yemen's Ministry of Telecommunications and Information Technology (MTIT) regulates the country's telecommunications market. The ministry is in charge of collecting operator's license fees. The Government of Yemen also fully owns and directly oversees the operations of the monopoly fixed line operator, Public Telecommunications Corporation (PTC), and owns a controlling stake in the CDMA cellular operator, Yemen Mobile, through the PTC.

The Arab Advisors Group projects Yemen's mainlines to reach 1.432 million lines by end of 2012 with a penetration rate of 5.76%. This corresponds to a CAGR of 7.1% between 2008 and 2012. This growth is expected to be mainly through the PTC's efforts to provide fixed line services in the rural areas of Yemen.

A new report, Yemen Communications Projections Report was released to Arab Advisors Group's strategic research service subscribers on July 30, 2008. The report -which has 61 pages and 51 detailed exhibits- fully analyzes the communications markets in Yemen and presents detailed profiles of all the major operators including PTC (Public Telecommunications Company), TeleYemen, Sabafon, MTN Yemen, Yemen Mobile, and "Y".

The report also provides 5-years historical and 5-years projections for many telecom and demographic indicators in the country.

This report can be purchased from the Arab Advisors Group for only US$ 950. Please contact the Arab Advisors Group to get a copy of the report's Table of Contents.

"The Arab Advisors Group projects Yemen's cellular lines to continue its healthy growth. With the entry of the fourth cellular operator in Yemen, the Arab Advisors Group projects Yemen's cellular market to grow at a CAGR of 15.7% from 2008 to 2012, reaching 10.537 million subscribers (a cellular penetration rate of 42.4%) up from 4.437 million by end of 2007." Mr. Hussam Barhoush, Arab Advisors senior research analyst of Arab Advisors Group wrote in the report.

The Arab Advisors Group's team of analysts in the region has produced close to 1,250 reports on the Arab World's communications and media markets. The reports can be purchased individually or received through an annual subscription to Arab Advisors Group's ( Strategic Research Services (Media and Telecom). To date, Arab Advisors Group has served over 490 global and regional companies by providing reliable research analysis and forecasts of Arab communications markets to these clients. Some of our clients can be viewed on

- UNHCR and Yemen Red Crescent Society agreement

Signing of a Memorandum of Understanding, MOU between the Office of the United Nations High commissioner for Refugees, (UNHCR) and the Yemen Red Crescent Society, (YRCS).

A memorandum of understanding, (MoU) was signed today between the Office of the United Nations High Commissioner for Refugees, UNHCR and the Yemen Red Crescent Society, YRCS.

The rationale of the MoU aims at enhancing the effectiveness of the humanitarian responses between the two organizations for the protection of refugees, asylum seekers and the Internal Displaced Persons, (IDPs). The MoU also stipulates areas of cooperation in facilitating and expediting the agencies' internal process of formalizing agreements for timely interventions for the benefit of the above persons of concern. It further seeks to build on the recognized comparative advantages of each organization and to establish operational modalities of cooperation.

- The WHO's report on the "Social Determinants of Health" is a manifesto for mass unemployment

The World Health Organization's claim this week that "social injustice is killing people on a grand scale" is misleading and ignores the real determinants of health, says the Campaign for Fighting Diseases.

Moreover, the WHO report on the "social determinants of health" promotes policies that would stunt economic growth and so confine the world's poorest to unhealthy living conditions and the diseases of poverty.

The WHO report is based on the idea that relative poverty -- as opposed to absolute poverty -- is an important determinant of health. This is based on lead author Sir Michael Marmot's research that shows that people on the bottom of the socio-economic hierarchy suffer more stress and therefore more disease than their wealthier counterparts.

The report therefore proposes a plethora of worldwide government interventions to promote "equity" -- such as increases in tax, government monopolisation of healthcare, state control of urban development and restrictions on the sale of food and alcohol.

Such measures, along with the restrictions on free trade advocated by the WHO, would undermine economic growth -- perpetuating poverty in developing countries and reducing the ability of people to afford lifesaving essentials such as clean water and electricity.

In "The Real Determinants of Health", the Campaign for Fighting Diseases outlined the positive links between free trade, development and health.

The report's author Philip Stevens commented: "Economic growth is essential for tackling the biggest causes of ill health in developing countries: dirty water, a lack of clean fuel and malnutrition. The WHO's fixation with inequality would undermine the fragile process of economic growth and create unemployment and economic stagnation. In a time of global economic uncertainty, their prescription for tackling health inequality is irresponsible and dangerous".

- A New Deloitte Corporate Finance Joint Venture in the

Middle East

Deloitte today announces a joint corporate finance venture between the UK and Middle East firms and, as a first step, is relocating six partners from the UK and other member firms to the region. The joint venture company, Deloitte Corporate Finance Limited, is registered and authorised by the Dubai Financial Services Authority, and will initially focus on offering M&A advisory and support services, valuation, business modelling, IPO advisory, forensic & dispute services and, importantly, Islamic finance advice in the GCC market.

John Connolly, Deloitte Global Chairman and UK Firm Senior Partner and Chief Executive, commented: "The Middle East is a very important region, with strong sustained economic growth and immense investment firepower. By joining forces with the Middle East firm, we will have the scale and breadth of financial skills to provide a full range of M&A services to clients from within and from outside the region."

Omar Fahoum, Chairman and Chief Executive Officer of Deloitte & Touche Middle East, added: "We are delighted to be embarking on this new venture. The private equity industry in the Middle East is expected to exceed $670bn in the next ten years. Strong fundamentals, rapid growth and greater availability of funding means that deals are set to grow in size from millions to billions. By combining our expertise and talent we will be able to ensure that we are at the forefront of this market.

We look forward to welcoming the incoming partners and working together to set the standard for professional services in the Middle East.

Chris Ward, global head of corporate finance advisory at Deloitte, will lead this business.

He commented: "We have ambitious plans to grow the new business, both in size and in the range of services offered. We predict the M&A market in the Middle East will grow at a staggering rate in the next few years; we intend to be at the vanguard of this development."

- Total launches new scholarship program for Yemeni students

Total E&P Yemen celebrated yesterday, 30 August 2008, its first-ever International Scholarship Programme in Yemen. Based on this Programme, TOTAL is going to sponsor ten scholarships: six undergraduates, three diplomas, and one master. Students are scheduled to travel for study both in the United Kingdom and France early September 2008.

Mr. Martin Deffontaines, the General Manager of Total E&P Yemen, stressed in the speech he gave on this occasion on the importance of this programme and the benefit it will have on not only the oil and gas industry in Yemen but also at the socio-economical level.

Total E&P Yemen culminated its celebration by signing two Memorandums of Understandings with the Universities of Sana'a and Hadhramout. The two memorandums will allow for broadened scientific and academic cooperation with these two leading universities. Based on these memorandums, TOTAL will send its experts via its non-profit TOTAL Professeurs AssociE[umlaut]s (TPA) to universities in Yemen in order to transfer TOTAL know-how and expertise to Yemeni students.

Mr. Deffontaines added that, "in order for TOTAL to be more welcomed by the Yemeni society and in order for TOTAL to be part of life in Yemen in the long term, we should act as good corporate citizens and help effectively in the educational development in Yemen."

About Total E&P Yemen

Total E&P Yemen is the operator of Block 10, east of Shabwa and holds several other participations in oil exploration and production blocks. TOTAL is the major foreign investor in Yemen. Since 1997, the company has been producing from Block 10 and has celebrated early this year the production of 100 million barrels....

Copyright Yemen Times. All rights reserved.

Provided by an company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Yemen Times (Sana'a, Yemen)
Date:Jan 4, 2009
Previous Article:Yemeni-American detainee Khalid Al-Sherif held without charges by PSO (Local).
Next Article:Through The Mind's Eye - To marry educated or uneducated women? (Part 6) (Community).

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |