Prime Minister, Salim bin Braik, sent a condolence message to Qatar's Prime Minister and Foreign Minister, Sheikh Mohammed bin Abdulrahman Al Thani, regarding the tragic car accident in Sharm El-Sheikh, Egypt, that killed several Qatar Amiri Diwan officials and injured others.
Gold prices rose today, Friday, heading towards achieving weekly gains for the eighth consecutive time, driven by strong demand for safe-haven assets amid ongoing geopolitical and economic uncertainty.
World Bank says Yemen faces significant economic hardships caused by continued Houthi blockade on oil exports
[01/11/2024 05:14]
ADEN - SABA
The World Bank said that Yemen is facing significant economic hardships caused by the continued Houthi blockade on oil exports.
According to the World Bank’s latest Yemen Economic Monitor (YEM) this blockade contributed to a 42 percent drop in fiscal revenues for the Internationally Recognized Government (IRG) in the first half of 2024, preventing it from providing essential services to the population.
The suspension of IRG oil exports, combined with a heavy reliance on imports, has intensified external pressures, leading to a depreciation of the Yemeni Rial in the Aden market from 1,619 per US dollar in January 2024 to 1,917 by the end of August
According to the report, "the conflict has as pushed most Yemenis into poverty, while food insecurity has reached historic levels, with over 60 percent of the population now facing inadequate access to food."