Cabinet convenes on Saudi brotherly bailout

Al-Eryani: Seizure of Iranian Smuggling Vessel off Bab al-Mandab Highlights Ongoing Houthi Supply Lines

Minister of Information Muammar Al-Eryani said the seizure of an Iranian smuggling vessel carrying dual-use materials off the coast of Bab al-Mandab underscores the continued flow of support to the Houthi militia, despite mounting military pressure.

Arab League Calls for Confronting Rising Anti-Muslim Hate

The Arab League on Sunday called for intensified international efforts to confront the growing phenomenon of hate speech and discrimination against Muslims in order to prevent deeper divisions among religions and cultures.

Oil rises as markets assess supply risks

Oil prices rose today, Tuesday, due to supply concerns, with Brent crude futures climbing $2.89, or 2.9 percent, to $102.83 per barrel.

Saudi League: Al-Nassr, Al-Ettifaq and Neom Secure Victories Over Al-Ittihad, Damac and Al-Riyadh

Al-Nassr defeated its guest Al-Ittihad 2–0 in the match that brought them together at Al-Awwal Park Stadium in Riyadh, as part of the 21st round of the Saudi Professional League.

Last Update: ، 2026/03/26 Time 09:08:57
Latest News:

Al-Muharrami Meets Prime Minister to Discuss Developments and Support Government Reforms

Al-Subaihi Urges Removal of Obstacles Facing Humanitarian Work

Health Minister Discusses Academic and Medical Cooperation with German University of Rostock Delegation

Yemen's accession to WTO strategic step to boost economic reforms, says al-Ashwal

Minister of Social Affairs confers with German Ambassador over humanitarian, development aid

Cabinet convenes on Saudi brotherly bailout

[17/01/2018 05:50]

ADEN-SABA
Yemen's Cabinet held a meeting in Aden on Wednesday onthe brotherly Saudi bailout in the form of a $2 billion deposit to stabilize the country's currency.

Earlier in the day Saudi Arabia’s King Salman bin Abdulaziz Al Saud ordered the amount to be deposited into the Central Bank of Yemen to stabilize the Yemeni Riyalwhich declined to unprecedented lows, the rial traded at 500 to the dollar this week.

"In the name of the Cabinet, I highly appreciate the orders of King Salman bin Abdulaziz Al Saud to deposit $2 billion into the Central Bank in order to lift the suffering of the Yemeni people," said Prime Minister Ahmed bin-Daghr at the opening of the Cabinet's meeting.

Bin-Daghr also thanked President Abd-Rabbu Mansour Hadi for his follow-up on this generous Saudi aid.

The Cabinet said "this generous support comes at a time we are facing complicated economic circumstances as a result of the war ignited by Iran's proxies and tools in Yemen – the Houthi rebel militia."