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Yemen to Set-Up Stock Market

The Yemeni Minister of Industry and Trade discussed the opening of a stock market in Yemen with a Jordanian advisory team this week. The Minister, Yahya al-Mutawakel, met with a team of consultants from the Jordanian stock market to finalize the regulatory, legal and technical procedures involved in setting-up the trading institution, the official Yemeni news agency SABA reported. According to SABA, Al-Mutawakel reportedly stressed the importance of setting a timetable for the stock exchange but no dates were announced following the meeting. In the 2010 report by the Doing Business project, Yemen ranked 99 out of the total 183 countries covered by the survey in terms of the ease of conducting business in the country.  The study, an initiative of the World Bank, uses ten different parameters including starting a business, paying taxes and cross border trading. While Yemen showed significant improvement in the category ‘Getting Credit’, rising from its previous place at 150 to174, its ‘Protecting Investors’ ranking fell 5 places, from 132 to 127. Yemen’s dire economic situation is frequently cited as one of the underlying reasons for the country’s chaotic political situation.
http://www.themedialine.org/news/news_detail.asp?NewsID=28120