Falling gold prices revive physical demand in key markets
Consumers in price sensitive regions such as India had been finding it difficult to cope with gold's rally in recent months.
Yemen plans to start building a port in the Qishn area of the eastern Mahra region at a cost of $130 million in two months, Deputy Transport Minister Naser Shuraif said.
This week, the government approved a deal with Ajham Energy & Mining Co. for the construction of the Arabian Sea port in an area bordering Oman and involving a 50-year concession, Shuraif said by phone.
The deal stipulates the construction of the port within about three years and includes building a road for $45 million to transport the minerals to the maritime hub.
The country has been devastated by a seven-year conflict that spurred a humanitarian catastrophe. The project will provide an opportunity for improvement, the official said.
(By Mohammed Hatem)
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