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Trade, investments top talks between Jordan, Kuwaiti economic delegation

AMMAN — During a meeting with a Kuwaiti economic delegation to the Kingdom on Tuesday, Minister of Industry, Trade and Supply Tareq Hammouri highlighted the importance of economic integration between the two countries. The minister called for effective economic partnerships between the two countries’ private sectors in various fields, according to the Jordan News Agency, Petra. “The Jordanian and Kuwaiti ... Read More »

Trade, investments top talks between Jordan, Kuwaiti economic delegation

AMMAN: During a meeting with a Kuwaiti economic delegation to the Kingdom on Tuesday, Minister of Industry, Trade and Supply Tareq Hammouri highlighted the importance of economic integration between the two countries. The minister called for effective economic partnerships between the two countries’ private sectors in various fields, according to the Jordan News Agency, Petra. “The Jordanian and Kuwaiti governments ... Read More »

Coffee consumption up but trade prices are low

Despite a steady increase in coffee consumption around the world, trade prices have fallen dramatically in the past three years, hitting producers. At the same time, the cost of an espresso or latte remains as full-fat as ever. What’s going on? Futures on arabica and robusta, the most widespread varieties of coffee, have fallen 40 per cent since the beginning ... Read More »

Considering exporting to Jordan? Read our new doing business guide

Here at the Institute of Export & International Trade, we focus on providing you with the most up-to-date information available, allowing you to make informed decisions in your exporting endeavours. Our latest ‘Doing Business in Jordan’ guide is now available for anyone considering business in Middle East/North Africa. Attracting more than £1 billion worth of UK exports, Jordan is a ... Read More »

King urges gov’t to continue holding economy-focused workshops

AMMAN: His Majesty King Abdullah reiterated the need for economic measures that reflect positively on citizens by improving their living standards. Speaking at the sixth workshop at Al Husseiniya Palace held as part of an ongoing series of workshops on the economy, King Abdullah called for the continued participation of all sides in the monitoring and evaluation of the implementation ... Read More »

Arab Bank Group profit grows by 4 per cent in nine months

AMMAN — Arab Bank Group posted $668.9 million in net income after tax for the first nine months of 2019 compared to $643.2 million in the same period last year, recording a 4 per cent increase, according to a statement of the group. Its net income before tax grew by 6 per cent to $912 million with its net operating ... Read More »

House Speaker Pelosi holds talks in Jordan with King Abdullah

US House Speaker Nancy Pelosi and other senior members of Congress held talks in Jordan on Saturday with King Abdullah II and other top Jordanian officials. Pelosi said in a statement the visit was at “a critical time for the security and stability of the region… With the deepening crisis in Syria after Turkey’s incursion, our delegation has engaged in ... Read More »

Trade balance deficit down by 10%

AMMAN — Jordan’s trade balance deficit for the first seven months of 2019 dropped by10 per cent compared to the figure recorded at the end of the same period last year, according to the Jordan News Agency, Petra. The drop resulted from a 5.5 per cent increase in national exports, the new agency explained. According to the Department of Statistics ... Read More »

Trade balance deficit down by 10%

AMMAN — Jordan’s trade balance deficit for the first seven months of 2019 dropped by10 per cent compared to the figure recorded at the end of the same period last year, according to the Jordan News Agency, Petra. The drop resulted from a 5.5 per cent increase in national exports, the new agency explained. According to the Department of Statistics ... Read More »

Launch of the Jordan Ireland Business Association

The Jordan Ireland Business Association (JIBA) was officially launched under the patronage of the Minister of Industry, Trade and Supply, Dr. Tariq Hammouri, at a reception held in the St Régis Hotel, Amman, on Wednesday the 11th of September, 2019. The launch of JIBA which follows the opening of the first Embassy of Ireland to Jordan in January of this ... Read More »

Jordan’s trade chamber urges Syria to remove trade obstacles

The Amman Chamber of Commerce on Sunday called for removing obstacles imposed by the Syrian authorities on Jordanian exports to boost trade exchange between the two countries. In a statement, the chamber said a meeting was held with a delegation from the Damascus Chamber of Commerce to discuss measures to facilitate trade between the two countries. The two sides underlined ... Read More »

Jordan Police, Protesters Clash Over Anti-Smuggling Efforts

AMMAN, Jordan: Jordan’s official news agency Petra says officials have reached a deal with local representatives to end two days of clashes over government efforts to curb cross-border cigarette smuggling from Syria. The clashes erupted last week between police and protesters in the northern city of Ramtha. Many residents of the impoverished city have made a living selling cigarettes that ... Read More »

Wildlife summit mulls trade rules to counter ‘unprecedented’ species declines

Conservationists warned of “unprecedented” species declines on Saturday as countries met in Geneva to tighten rules on trade in elephant ivory and products from other endangered animal and plants. Thousands of conservationists and policymakers from more than 180 countries will meet for 12 days to evaluate regulations and species protection listings under the Convention on International Trade in Endangered Species ... Read More »

Jordan Silos company bought 25,000 tonnes wheat in tender-trade

HAMBURG: Jordan’s state-owned Silos and Supply General Company is believed to have purchased about 25,000 tonnes of wheat in an international tender for the same volume which closed European traders said. The price was believed to be around $234 a tonne c&f. The wheat had been sought for shipment in the first half of September. The state-owned company issues tenders ... Read More »

US arms sales to Saudis, UAE, Jordan needed to deter Iran: Pompeo

WASHINGTON: Secretary of State Mike Pompeo said the Trump administration had decided to proceed with arms sales to Saudi Arabia, the United Arab Emirates and Jordan in a move bypassing Congress because any delay could increase risk for US partners at a time of instability caused by Iran. “These sales will support our allies, enhance Middle East stability, and help ... Read More »

Jordanian company refuses to sell sand after discovering it is for gas pipeline with Israel

A Jordanian construction company has refused to sell its sand after discovering the material was to be used in building a gas pipeline linking the country with Israel. Video footage shows workers delivering the sand, realising what it is to be used for, and then loading it back onto their own vehicles again before driving off. “The sand delivery that ... Read More »

IMF mission to begin review of Jordan’s economy

AMMONNEWS: As part of its process related to the financial and structural reform programme, an International Monetary Fund (IMF) mission is scheduled to start a visit to the Kingdom on Sunday, the Finance Ministry announced. The visit came after the global lending institution has concluded its second review of the national economy’s performance and issued its report, the ministry added. ... Read More »

Jordan: Abbas Rejects Solution To Financial Crisis

Jordanian officials are reportedly furious at the head of the Palestinian Authority, Mahmoud Abbas, claiming that his conduct regarding the economic crisis facing the PA could result in bankruptcy and violence that threatens to spill over into Jordan, it was reported by the Hebrew daily Israel Hayom. A senior Jordanian source said a proposal to solve the economic crisis was ... Read More »

Jordan issues new tender to buy 120,000 tonnes of wheat

Jordan’s state grain buyer has issued an international tender to buy 120,000 tonnes of milling wheat which can be sourced from optional origins, European traders said. The tender deadline is June 12. Traders had expected a new tender after Jordan made no purchase in its previous tender on Tuesday, when only two trading companies participated. Jordan has faced difficulties buying ... Read More »

SNB’s Jordan sees room for more intervention if needed

Swiss monetary policy is appropriate for now, but policymakers still have room to lower already negative interest rates further or use other policies if necessary, Swiss National Bank Chairman Thomas Jordan said. “There is no reason to change monetary policy,” given the bank’s dropping inflation forecasts and no risk of the country’s economy overheating, Jordan told a news conference on ... Read More »