Yemen Central Bank latest economic data are clearly showing that inflation rates are once again on the rise, threatening the country's timid economic growth and recovery. With indicators pointing to an 11.3% inflation rate for February, an increase of nearly four points in comparison with January 2013 (

Officials at the ministry of finance have revealed that as Yemen is facing an ever mounting deficit, which is threatening to bankrupt the country unless something drastic is done to improve Yemen's cashflow, the government is leaning toward putting an end to oil subsidies as to generate a new source of income.

Today, Mr. Abdulkader Hilal, Sana’a General Secretary, and Dr. Huda Ablan, the Vice- Minister of Culture, inaugurated the World Day for Museums event at the National Museum in Sana'a.

Track24, the leader in security tracking and risk management solutions, and Itex Solutions, a leading Yemeni ICT Company, will launch a web-based Employee Location Management System (ELMS) in Yemen this month to help organizations fulfill their “duty of care” responsibilities during incidents which might compromise staff safety.

Al-Huda Center of Islamic banking and economics (CIBE) announced earlier this week it was initiated an "Islamic microfinance research study for Yemen Microfinance Network (YMN) in Yemen."

With Yemen National Dialogue Conference well underway, economists are hoping representatives will concentrate their efforts on solving one of Yemen many dilemmas, the recovery of the former regime's looted funds.

Official sources at the finance ministry have confirmed rumors that the government was considering cutting oil subsidies in order to meet the International Monetary Fund (IMF) loan requirements.

Egyptian newspaper, al-Masry al-Yom reported this week on what it is foreseeing will become Yemen - Saudi Arabia new Oil conflict.

Abdul-Majeed al-Batali, a consultant for Yemen planning and international cooperation ministry explained that while the poorest nation of the Arabian Peninsula had yet to overcome many difficulties as far as its economy was concerned, economic indicators were definitely pointing up, signaling recovery.

With Yemen making stride toward political and economic recovery, American oil companies have expressed an interest in the country, saying they are looking for a partnership.

Recent data shows that Yemen Central Bank's foreign currencies reserves dropped to its lowest point since last August the country's oil exports dropped by as much as a third.

Etihad Airways, the national airline of the United Arab Emirates (UAE), will launch direct flights to Sana'a, Yemen's political and commercial capital on September 1, 2013

Officials from the Central Bank of Yemen confirmed this week that they were now considering introducing to Yemen new financial services which would be powered through mobile phone lines' providers.

According to Saudi newspaper, al-Ektesadiya the Gulf states are now considering building and financing one of the region largest desalination projects in impoverished Yemen, as to answer to the country's dire need of fresh water.

Yemen Minister of Planning and International Cooperation, Dr Mohammed al-Saadi,Mohammed Sadeqi representative for the Kuwait Fund for Arab Economic Development (KFAED) and Director of the Gulf Cooperation Council office in Yemen, Saad al-Uraifi signed on Sunday a financing agreement which provisions for the upgrading of Aden governorate power grid, to an amount of $35 million.

As Masood Ahmed, Director of the International Monetary Fund's Middle East and Central Asia department told the press earlier this week, ahead of of a meeting of Arab finance ministers and central bank governors in Dubai, that his organization would extend further financial assistance to Yemen as to finance its economic recovery, Mohammed Awad bin Hamam, Yemen Central Bank Governor confirmed the country's economic outlook was looking positive. He added he was happy with the current level of interest rates, forecasting a economic growth rate of 7%, a far cry from 2011 retraction.

Travelport, a leading transaction processing provider announced the renewal of its long-term Operator Agreement with Universal Travel and Tourism in Yemen (UT&T).

Ahmed Ghaleb, Yemen Head of Tax Authority revealed in an interview with al-Shorfa earlier this week how his department was, through a new taxation system, seeking to boost the state's revenues, hence improving the economic situation.

The poorest nation of the Arabian Peninsula, Yemen has been and continue to battle with poverty and high unemployment rates, having had to rely on creative and alternative solution to create a growth momentum amid the poorest of poor .

Tribal sources based in the eastern province of Marib, near the town of Sarwah revealed tribal militias were strategically sabotaging power lines and oil pipeline in the province in a power struggle with the central government ahead of the National Dialogue Conference.

Officials in Marib, eastern province of Yemen, confirmed early on Tuesday armed tribesmen had once again targeted the country's oil infrastructures, disturbing the oil flow.

Turkey received the first LNG shipment from Yemen early this week just as the country is seeking to sign an agreement with the Yemeni government on importing more LNG cargoes, the official Althawra newspaper reported on Monday.

Offbeat Tours, a Dubai-based tour company is launching a totally new tourism concept in Yemen revolving around adventure and travelers' desire to experience the country in a different light, away from the beaten track.

Mohammed Sayani, Yemen Central Bank Deputy Governor confirmed on Tuesday interest rates will cut again this month, March to meet Yemen monetary plan.

This Monday, Minister of Electricity, Dr. Saleh Sumai and Hadhramawt Governor, Khaled Saeed al-Diny laid down the cornerstone of Mukalla's new power station.

Dr. Abdul-Latif bin Rashid al-Zayani, Secretary General of the Gulf Cooperation Council - GCC - urged on Thursday World Bank Regional Director, Hartfg Scheffer to provide Yemen with the technical supports it 

 Capital Intelligence (CI), the international credit rating agency, announced credit rating action on International Bank of Yemen (IBY), based in Sana'a, Yemen.

Only weeks away from Yemen second Donors' Conference in London -March 7th - Minister of Agriculture and Irrigation Farid Mujawar met in Sana'a, the capital with Robert Wilson, USAID Director - U.S Agency for International development - to discuss development projects in the impoverished nation.

Yemen’s executive body on accelerated absorption of foreign aid said on Monday the government has earmarked $5.367 billion out of a total of $8 billion pledged by donors last year, the state news agency Saba reported.

Yemen’s minister of industry and trade Sa’ad Al-Din bin Talib has warned that the national economy is on the edge of collapse, Alahale reported on Sunday.

The studies and economic media center revealed on Thursday that only 40 percent of Yemen’s population have access to electricity, water and sanitation services. Yemen has about 24 million people, half of which are living under the poverty line.

According to a recent survey conducted by Yemen General Authority for Geological and Mineral Resources the poorest country of the Arabian Peninsula would have hidden in its belly hundreds upon hundreds of millions of dollars worth of gold, lead, silver, copper, zinc and other metals.

Indian Nagarjuna Construction Company said on Saturday it intends to build a compost factory that will operate on natural gas in Yemen, the official news agency Saba reported quoting a statement by head of a delegation from the company.

A recent report published in the Guardian - UK-based newspaper - shed some light on a rather unlikely recession proof business said to be thriving in Yemen, wild animal farming.

A delegation from the Indian Nagarjuna Construction Company is due to arrive in Yemen next week to discuss the establishment of investments worth $1.2 billion, the Yemeni official agency Saba reported on Friday.

Officials at Yemen Corporation for Cement Industry & Marketing - YCC - reported on Tuesday the company was facing such financial hardship it would become insolvent in a matter of months unless fresh funds were to be pumped in.

Yemen President Abdo Rabbo Mansour Hadi met with Arnaud Bruyak, Chairman of the Middle East division for Total Group on Tuesday to discuss officials said the oil companies current interests and projects in Yemen.

The International Monetary Fund - created in 1944 IMF fosters global monetary cooperation, secures financial stability, facilitates international trade, promotes high employment and sustainable economic growth, and reduces poverty around the world - which is continuously monitoring Yemen's financial and economic situation, said Yemen was now in the position to "reduce its interest rates and support recovery."

Despite pledges of aid amounting to several billions of dollars by the international community, Yemen is still struggling to finance its economic recovery said Suleiman al-Qutabery, assistant Deputy Minister of Yemen Planning and International Cooperation for Development Projects.

Vitol revealed on Wednesday it is eying energy investments in Yemen coinciding with statements by a number of foreign ambassadors that big oil firms plan to come here as part of their countries’ plans to widen the trade relations with the country.

Yemen Oil and Mineral Minister, Ahmed Abdullah Dares met in Sana'a on Wednesday with Turkey Ambassador Fazli Corman and several of prominent Turkish representative of the energy sector to discuss ways in which both nations could enhance their collaboration.

Despite previous reservations the Parliament approved on Saturday Yemen's 2013 budget, making state officials breath a sigh of relief.

SabaFon, Yemen’s first and largest cell phone operator, held a ceremony which was attended by media on Tuesday and presented the winners in the company’s contest offers including the surprises scratch card with awards including a Porsche car.

World Bank signed on Monday a grant agreement with Yemen in Istanbul - Turkey - by which it allocated $100 million toward helping Sana'a set up an emergency social fund to provide the poorest of the poor a lifeline and build the foundation of a social welfare system which would actually target the needy.

Yemen and Egypt signed in Sana'a a Memorandum of Understanding - MOU -on technical cooperation in the fields of specifications and standards to control Egyptian exports an imports on Sunday. Yemen which is trying to align itself with international commercial standards and guidelines in terms of products control, quality and specifications has been keen to encourage such agreement with its regional commercial partners.

Yemen's Marib oil pipeline was bombed again on Friday few hours after the authorities completed the repairs to it following a bombing in the Habab area this month, state media reported.

Yemen's oil minister, Ahmed Daris, said on Saturday that 17 oil firms have submitted their bids for the five blocks which the country put on offer earlier this year, Saba reported.

Yemen's gas pipeline was blown up late last night, weeks after it resumed pumping following an October attack, Yemen LNG said on Sunday.

A delegation from Kuwait arrived on Monday in Yemen to discuss with the government opportunities to invest in the oil and gas sector.

State-owned SAFER E&P Operations Company SEPOC has warned of possible fuel shortages as the Marib oil pipeline continues to be down after repeated attacks this month.