logo
Endowments authority distributes cash aid to wounded war veterans

Endowments authority distributes cash aid to wounded war veterans

Saba Yemen28-03-2025
Sana'a - Saba:
The General Authority for Endowments has launched the fifth phase of its cash transfer project, providing financial assistance to individuals wounded and disabled during the conflict.
The project, implemented in collaboration with the Yemen Future Association and the Wounded Foundation, aims to support those who have suffered injuries due to the "aggression."
Dr. Abdullah al-Qudami, the Authority's Undersecretary for the Mosques and Endowments Sector, informed Saba News Agency that the fifth phase of the project distributed 115 million Yemeni Y.R to 6,000 wounded and disabled veterans across the capital and other provinces. This brings the total disbursement across all five phases of the project to approximately 615 million Y.R.
Dr. al-Qudami emphasized that the project is a gesture of appreciation for the sacrifices made by these individuals in defense of the nation against the "US-Saudi aggression."
He stated that they are deemed worthy of support from endowment funds, and that this represents a minimal offering.
Al-Qudami also expressed regret for the cancellation of accompanying hospitality events, which were traditionally held during Ramadan, citing national security concerns related to the ongoing aggression on the country.
Whatsapp Telegram Email Print
more of (Local)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Tender envelopes opened for Solar Power Station of Al-Bayda City Water Project
Tender envelopes opened for Solar Power Station of Al-Bayda City Water Project

Saba Yemen

time19 hours ago

  • Saba Yemen

Tender envelopes opened for Solar Power Station of Al-Bayda City Water Project

Sana'a – Saba: The Social Fund for Development (SFD) – Main Headquarters in Sana'a, today witnessed the opening of tender envelopes for the solar power station project for the Al-Bayda City Water Project, with a cost of $1.4 million, funded by the Dutch government and implemented by the Fund. The event was attended by Al-Bayda Governor and Chairman of the Local Water and Sanitation Corporation, Abdullah Idris; Deputy Governor Nasser Al-Aji; Water Projects Officer at the SFD in Sana'a, Ahmed Ghamdan; and the General Director of the Local Water and Sanitation Corporation, Abdulghani Al-Mukhtar. Governor Idris emphasized the importance of implementing the project to provide drinking water for citizens and alleviate their suffering amid the current difficult conditions in the country. He also expressed the local authority's readiness to overcome any obstacles to ensure the project's execution and improve water services for the residents of Al-Bayda city. For his part, Al-Mukhtar stated that implementing the solar power station for the city's water project is among the top priority projects, given its significant role in reducing the burden on residents. He pointed out that the project will help lower the costs of water production through the use of solar energy. He also confirmed that a lithium battery will be integrated into the hybrid operating system alongside solar power, marking the first use of this technology to reduce fuel consumption at the water pumping station. Whatsapp Telegram Email Print more of (Local)

PM Discusses Ministry Activities with Minister of Agriculture
PM Discusses Ministry Activities with Minister of Agriculture

Saba Yemen

timea day ago

  • Saba Yemen

PM Discusses Ministry Activities with Minister of Agriculture

Sana'a - (Saba): Prime Minister Ahmed Ghaleb al-Rahawi met on Wednesday with Minister of Agriculture, Fisheries, and Water Resources Dr. Radwan al-Rubai to discuss the progress of the ministry's activities and those of its affiliated units, the challenges they face, and ways to mitigate them. The meeting also addressed the marketing of agricultural products, highlighting the importance of this process in achieving commodity stability in the local market on one hand, and encouraging farmers to enhance and develop their annual production levels of various crops on the other. The Prime Minister affirmed the Government of Change and Development's commitment—based on the strategic importance of the agricultural and fisheries sectors for national food security—to supporting both sectors, which employ a large segment of the Yemeni population, as well as reinforcing the foundations of their stability and development. He also praised the success stories achieved in this field, particularly those related to self-sufficiency in several key crops and the annual increase in grain production, especially wheat, along with ongoing efforts to develop and promote the cultivation of high-quality Yemeni coffee. Dr. al-Rubai reviewed the ministry's key achievements and the main activities it is currently undertaking. He expressed his appreciation for the government's support—represented by the relevant authorities—and its cooperation with the ministry to reduce existing challenges and move forward with the implementation of strategic and vital plans and programs. The meeting was attended by Agricultural Services Sector official Dheifallah Shamlan, Director of Financial Affairs Mohammed Al-Sharafi, and Legal Affairs Director Judge Youssef Qatran. Whatsapp Telegram Email Print

Trump, Bond Market, and Uncertainty in US Economy
Trump, Bond Market, and Uncertainty in US Economy

Saba Yemen

time2 days ago

  • Saba Yemen

Trump, Bond Market, and Uncertainty in US Economy

Sana'a – Saba: Treasury bonds pose a serious challenge to the US economy, given the increasing deficit ratios in the face of public debt, this can be clearly seen in the fluctuations in Treasury bond prices there. Uncertainty Here, we must ask what are the reasons behind the fluctuations in Treasury bond prices that the United States is experiencing? Journalist and economic analyst Rashid Al-Haddad told the Yemeni News Agency (Saba): The most important reasons behind the fluctuations in the US Treasury bond market are the loss of confidence of investors in US bonds in the stability of economic policies under US President Donald Trump. Trump has taken a number of economic measures, most notably the tariff war, which led to the collapse of US stock markets and also affected the bond market, due to its negative repercussions on US and global markets. This resulted in widespread trade disruptions and raised investor fears of a return to the Great Recession in America, especially since the effects of the tariffs were evident on American consumers, but, contrary to expectations, they did not have a positive impact on the performance of the US economy. In addition to Trump's move to lower interest rates to less than 5%, another factor is the anticipation of American and foreign investors, whether countries or companies. Approximately $11 trillion, representing one-third of the US public debt, is due to mature in the coming period, amid the uncertainty facing the US economy under Trump. Maturity Debt A report by the US Treasury Department showed that the national debt has exceeded $36.22 trillion, and that the government needs to refinance to repay $11 trillion in maturing debt, nearly a third of the total, over the next 12 months. Here's the question: How challenging is this given the volatility in bond markets and rising yields? Journalist Al-Haddad explains: "So far, indications indicate that the Trump administration is unable to repay, and the options available to address this are economically costly. The Trump administration may resort to repurchasing maturing bonds at higher interest rates or negotiating with bondholders." Banks Central banks' holdings of US Treasury bonds decreased by $17 billion last week, and by $48 billion since late March 2025. What are the reasons and implications behind this? Al-Haddad believes that "the decline in banks' holdings stems from concerns over rising political and financial risks, which reinforces the feeling that US bonds are no longer the safe haven for investment they were in years, and that risk levels have become high. Consequently, banks are turning to diversifying their sovereign investments or increasing their gold reserves as a safe haven." Auction The $16 billion auction of 20-year US Treasury bonds with a yield of 5% is experiencing weak demand, reflecting a reluctance by foreign investors to purchase US bonds. What could this mean if it continues? Rasheed says the Trump administration may resort to this, especially since the outstanding bonds are decades old, and most of them were sold to raise funds for US-led wars in Iraq and Afghanistan, for example. Currencies The decline in the value of the dollar index against a basket of major currencies and the rise in US debt to approximately $37 trillion are putting upward pressure on interest rates on US bonds. Al-Haddad says that the decline in demand for the dollar ahead of any interest rate cut indicates a loss of investor confidence in the dollar and a shift towards gold. This also confirms that the risks of the repercussions of the interest rate cut will also be significant for the dollar price. In addition, Saudi Arabia increased its holdings of US Treasury bonds to $2.2 billion in April 2025. Al-Haddad believes this percentage is small: Saudi Arabia has recently reduced its investment in US bonds, unlike in previous years, and even if Saudi Arabia's new investments in bonds are small compared to other countries. M.M Whatsapp Telegram Email Print more of (Reports)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store