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Jordan, Cyprus and Greece agree to expand cooperation in vital fields

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AMMAN — His Majesty King Abdullah, Cypriot President Nicos Anastasiades and Greek Prime Minister Alexis Tsipras agreed during their trilateral summit on Sunday at Al Husseiniya Palace to expand cooperation between the three countries in vital sectors, including energy, water, agriculture, tourism, healthcare, education, trade, investment and ICT. The three countries also agreed to encourage their respective private sectors to ... Read More »

Corruption costs $1 trillion in tax revenue globally — IMF

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NEW YORK: Curbing corruption could generate about $1 trillion in tax revenues annually across the world, according to research from the International Monetary Fund (IMF). In addition to increasing government revenue, fighting corruption can also reduce waste and even help to lift test scores among public school students, the IMF said. It also improves overall public trust in the government. ... Read More »

Egypt on track to end fuel subsidies — IMF

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Egypt is on track to end subsidies on most fuels by June 15 as part of a reform programme led by the International Monetary Fund (IMF), the Washington-based body said. The economy of the Arab world’s most populous country has suffered from political instability and security threats since the 2011 uprising. Cairo secured a $12 billion, three-year loan package from ... Read More »

Non-Jordanian ownership at the ASE reaches 51.6%

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AMMAN: The total value of shares bought by non-Jordanian investors in January was JD26.3 million, representing 29 per cent of the overall trading value, while the value of shares sold by the same bracket amounted to JD 26.1 million, according to the ASE website. Subsequently, net non-Jordanian investment in January reflected an increase by JD0.2 million, compared with a decrease ... Read More »

‘Jordan to explore business prospects in Africa’

Jordan's Minister of Industry Yarub Qudah speaks at a news conference at the European Commission in Brussels, Belgium May 3, 2017. REUTERS/Eric Vidal - RC17C4968130

AMMAN: Yarub Qudah, minister of industry, trade and supply, on Sunday said the country is working to establish stronger trade relations with African countries, especially Nigeria. The minister made the remark during a meeting with a delegation of the Abuja Chamber of Commerce and Industry that is currently visiting the country. Qudah called for more trade and investment cooperation between ... Read More »

Oil producers to decide in June on extending cuts

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Major oil producers led by Saudi Arabia agreed on Monday to keep working together to prop up crude prices, but said they would decide only in June on whether to extend production cuts. Meeting in Azerbaijan’s capital Baku, members of the OPEC+ alliance said they would continue coordinating efforts to “stabilise” the oil market through production cutbacks. But they postponed ... Read More »

Non-Jordanian ownership at the ASE reaches 51.6%

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AMMAN: The total value of shares bought by non-Jordanian investors in January was JD26.3 million, representing 29 per cent of the overall trading value, while the value of shares sold by the same bracket amounted to JD 26.1 million, according to the ASE website. Subsequently, net non-Jordanian investment in January reflected an increase by JD0.2 million, compared with a decrease ... Read More »

Traders say 80 businesses hit in ‘yellow vest’ rampage

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Workers began cleaning up the Champs Elysees in Paris on Sunday after rioters ransacked stores and restaurants in a new flare-up of violence linked to the yellow vest protest movement. Cutting short a weekend ski trip, President Emmanuel Macron returned to Paris late on Saturday for a crisis meeting with ministers at which he ordered decisions to be taken rapidly ... Read More »

Jordanian manufacturer seals first ever deal in Middle East with Siemens

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AMMAN: Jordanian manufacturer Petra Engineering Industries Company on Monday signed the first ever deal in Jordan with international company Siemens to supply smart heating, ventilation and air conditioning (HVAC) systems and equipments. During the signing ceremony at Petra’s industrial facilities, 30km southeast of Amman, the company uncovered that this deal is Siemens’ first ever in the Middle East region. Petra ... Read More »

Jordanian manufacturer seals first ever deal in Middle East with Siemens

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AMMAN — Jordanian manufacturer Petra Engineering Industries Company on Monday signed the first ever deal in Jordan with international company Siemens to supply smart heating, ventilation and air conditioning (HVAC) systems and equipments. During the signing ceremony at Petra’s industrial facilities, 30km southeast of Amman, the company uncovered that this deal is Siemens’ first ever in the Middle East region. ... Read More »

Saudi Arabia ‘has deposited $334m in Jordan’s central bank’

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DUBAI: Saudi Arabia has deposited $334 million in Jordan’s central bank and is working with Kuwait and the UAE for more financial support, Finance Minister Mohammed Al-Jadaan was quoted by broadcaster Al Arabiya as saying. Saudi Arabia alongside Kuwait and the UAE put together a $2.5 billion package in June to help shore up Jordan’s struggling economy. Jordan’s government fell ... Read More »

Israeli Special Ops Troops Thwart Smuggling of Guns from Jordan

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Soldiers of the Border Police’s Tactical Brigade and IDF forces on February 7 thwarted the smuggling of dozens of handguns from Jordan into Israeli territory, the Border Police. This was a complex operational activity that combined very advanced technological means with combat soldiers who operated in a number of ways, including observation, ambushes and confidential methods of operation,” the commander ... Read More »

Time for investors to take another look at Jordan — ambassador

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AMMAN: The London initiative, which will be held on February 28, is the start of a much longer process to unlock investment, growth and jobs for the Kingdom while sending a message of support, British Ambassador to Jordan Edward Oakden said. The ambassador, whose country will co-host the high-profile conference along with the Jordan, said the initiative will kick off ... Read More »

Is Iran Smuggling Weapons From Jordan Into the West Bank?

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Reports emerged in early February that Fatah’s Tanzim military arm in the West Bank has been purchasing weapons smuggled from Syria through Jordan to arm itself for the succession battle when Palestinian Authority leader Mahmoud Abbas’s rule comes to an end. The reports may still be unconfirmed, but we should take note of what is going on in southern Syria, ... Read More »

Jordan ranks 4th in region on economic freedom index; experts outline shortfalls

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AMMAN: Jordan was ranked 4th among 14 countries in the Middle East and North Africa region (MENA) in the 2019 Index of Economic Freedom, but economists say more needs to be done to promote investment. The country has been awarded an economic freedom score of 66.5, placing it 53rd globally in the 2019 index, launched by the Heritage Foundation think ... Read More »

Ambassador leaves office in Brazil and returns to Jordan

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(MENAFN – Brazil-Arab News Agency (ANBA)) São Paulo ‒ The Jordanian ambassador in Brazil, Malek Eid Otalla Twal , left office this Friday (15) to return to his country of origin. The diplomat arrived in Brazil in the beginning of February 2014 and oversaw the embassy for five years. Previously he worked in countries such as Germany, France, Italy, Austria ... Read More »

Non-Jordanian ownership at the ASE reaches 51.6%

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AMMAN: The total value of shares bought by non-Jordanian investors in January was JD26.3 million, representing 29 per cent of the overall trading value, while the value of shares sold by the same bracket amounted to JD 26.1 million, according to the ASE website. Subsequently, net non-Jordanian investment in January reflected an increase by JD0.2 million, compared with a decrease ... Read More »

IMF to start 2nd review of Jordan’s economy

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AMMONNEWS: The International Monetary Fund (IMF) will start conducting the 2nd review of Jordan’s economy under a 700-million-U.S.-dollar Extended Fund Facility on Jordanian Ministry of Finance said in an emailed statement. The IMF mission will spend two weeks in Jordan meeting with several officials, including officials at the Finance Ministry and the Central Bank of Jordan. The IMF’s visit is ... Read More »

Trade worries sour CEOs’ mood as leaders converge on Davos

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Chief executives across the world have grown a lot more pessimistic about the global economic outlook due to trade disputes and tense relations between major powers, a survey showed on the eve of the World Economic Forum (WEF) in Davos. The Pricewaterhouse Coopers (PwC) survey of nearly 1,400 CEOs found that 29 per cent believe global economic growth will decline ... Read More »

Jordan buys 60,000 tonnes hard wheat in tender, optional origin

Workers unload sacks of wheat flour in a warehouse in Jordan March 12, 2003 as part of World Food Programme plans to preposition food aid before any war in neighbouring Iraq. [Officials from the U.N. agency expect they will need food supplies to feed up to 900,000 displaced people and refugees for two and a half months in countries bordering Iraq in the event of any hostilities.] - RTXLUXM

Jordan’s state grains buyer purchased 60,000 tonnes of hard milling wheat to be sourced from optional origins in a tender for up to 120,000 tonnes which closed on Tuesday, traders said. It was bought at $269.95 a tonne c&f for shipment in the first half of March. Seller was trading house Ameropa. Two other companies took part in the tender, ... Read More »