Yemen to set up stock market

Jalal Omar Yaqoub, Yemen's deputy finance minister has announced the signing of a memorandum of understanding with Amman Stock Exchange to set up a new stock market in Yemen, Reuters has reported. The project is part of the country's reform plans and is planned to start with the listing of 10 to 12 private and state firms, he said. Set for launch at the end of January, the new Sanaa bourse is drawing sceptical reactions from analysts, due to issues faced by the state, which may pose a threat to the project's success.