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Jordan pushes ahead on renewable

AMMAN: The expansion of Jordan’s renewable energy segment has seen a marked acceleration in recent years, with nearly 1000 MW of solar and wind projects currently being implemented. These developments dovetail with a national strategy aimed at raising the share of renewables in the energy mix to 10% by 2020, equivalent to a generating capacity of some 1500 MW. Development ... Read More »

JVA can improve revenue flows

AMMAN: Jordan has seen a decline of its agricultural sector productivity over the last six years as a result of prolonged cycles of negative growth and a decrease of productivity per worker. Regional conflict has also curtailed Jordan’s export opportunities substantially, according to a World Bank (WB) report. “The Cost of Irrigation Water in the Jordan Valley” looks at innovative ... Read More »

Economic integration needed amid regional turmoil

AMMAN: Arab Businessmen Association President Hamdi Tabbaa on Friday stressed the importance of establishing economic integration among Arab countries, as a means to mitigate the fallout of the past five years of regional turmoil.  The regional economic outlook continues to be dim, amid the state of ongoing political and security uncertainty witnessed in several Arab countries for more than five ... Read More »

KEPCO mulling solar power business in Jordan

AMMAN: Korea Electric Power Corp., South Korea’s state-run power utility firm, is considering a solar energy business in Jordan, a source said Thursday, as part of its efforts to tap into a new growth engine. KEPCO officials met with their Jordanian counterparts in Amman earlier this month, the source said, without elaborating. Separately, KEPCO has formed a consortium with GS ... Read More »

World Bank cuts 2016 global growth forecast to 2.4%

AMMAN: The World Bank (WB) is downgrading its 2016 global growth forecast to 2.4 per cent from the 2.9 per cent pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade and diminishing capital flows, according to a WB statement. According to the latest update of its Global Economic ... Read More »

Local market well-stocked for Ramadan

AMMAN: The local market is well-stocked with all commodities to meet consumer demand in the holy month of Ramadan, the government confirmed on Monday. Deputy Prime Minister for Economic Affairs and Minister of Industry, Trade and Supply Jawad Anani said large quantities of household supplies were available, speaking at a ministerial meeting attended by public and private sector representatives on the ... Read More »

Mulki checks on work flow at Aqaba port

AMMAN: Prime Minister Hani Mulki on Thursday conducted a field tour of Aqaba, which included the container terminal, the new customs centre and the main port, the Jordan News Agency, Petra, reported.  During his visit, Mulki checked on the progress of inspection and clearance operations for goods in order to ensure they would not pile up like in previous years, ... Read More »

World Bank cuts 2016 global growth forecast to 2.4%

AMMAN: The World Bank (WB) is downgrading its 2016 global growth forecast to 2.4 per cent from the 2.9 per cent pace projected in January.  The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade and diminishing capital flows, according to a WB statement. According to the latest update of its Global Economic ... Read More »

Banks urges to stop hoarding cash, start lending

AMMAN: Finance experts on Tuesday urged the Jordanian banking sector to further support small- and medium-size enterprises (SMEs), which largely contribute to the gross domestic product. At a discussion session held on the sidelines of the Jordan Afaq Economic Forum, which was inaugurated in Amman recently, the experts criticised the banking sector for not doing enough to assist SMEs, and for ... Read More »

‘Hassle-free’ partial e-services launched

AMMAN: The Ministry of  Industry, Trade and Supply on Saturday launched partial electronic services related to issuing company-related “certificates” from the ministry’s records, in a step to facilitate and streamline procedures. The ministry also launched six e-services for the issuance of companies’ “certificates” (papers that attest to companies’ information) by the Companies Comptroller Department, the Jordan News Agency, Petra, reported. ... Read More »

Jordan seeks preferential treatment from Russia to export fruit, vegetables

AMMAN: Gaining favourable treatment in terms of customs duties and other fees is a key to increasing Jordan’s agricultural exports to the Russian market, a government official said on Monday. “Efforts are still under way to secure preferential treatment from Russia in terms of custom duties and taxes when exporting fruit and vegetables,” Ministry of Agriculture Spokesperson Nimer Haddadin told ... Read More »

Emirates, Jordan tourism board sign MoU

DUBAI: Emirates has signed a memorandum of understanding (MoU) with the Jordan Tourism Board, which aims to utilise the airline’s global network to further boost inbound tourist arrivals to Jordan. Under the MoU, Emirates together with the Jordan Tourism Board will put into effect a range of joint marketing activities, including tourism promotions, participation in conferences and exhibitions, amongst other ... Read More »

Jordan casts net wide for its mounting energy needs

AMMAN: Visiting the bustling city of Amman recently, one wonders how Jordan is providing all the energy to drive its economy after being described as one of the energy “have-nots” of the region. Energy consumption is growing rapidly, where, according to the International Energy Agency (IEA), energy supply increased from about 2.7 million tons of oil equivalent (mtoe) in 1985 to ... Read More »

Gaza cement deliveries resume after Israel lifts ban

AMMAN: Private cement deliveries to the Gaza Strip resumed on Monday after Israel lifted a six-week ban it imposed over an alleged diversion of materials by an official in the Palestinian territory. Israel imposed the ban in early April in the territory run by the Palestinian group Hamas, which is still rebuilding after an Israeli 50-day offensive on Gaza in ... Read More »

AmCham-Jordan holds roundtable meeting with USTR, discusses US-Jordan Trade

AMMAN: On the occasion of the 7th US-Jordan Free Trade Agreement (FTA) Joint Committee Meeting, the American Chamber of Commerce in Jordan (AmCham-Jordan) organized a meeting for more than 50 members of the business community with delegates from the United States Trade Representative (USTR) on May 19 at the Bristol Hotel Amman. The session was entitled “Jordan-US Bilateral Trade Challenges ... Read More »

Facilitating access to finance for Jordan’s SMEs

AMMAN: Jordan is intensifying efforts to provide support for start-ups and small and medium-sized enterprises (SMEs) by easing access to financing. Rising public and private investment in Jordan’s digital economy contributes to an optimistic outlook despite some continued obstacles to conventional bank finance. According to the 2011 census, roughly 98% of all companies in the kingdom are micro-enterprises or SMEs, ... Read More »

Jordan-US free trade agreement joint committee convenes

AMMAN: Jordan and the United States Free Trade Agreement (FTA) Joint Committee convened at the Ministry of Industry and Trade on Thursday.  At the opening session, Industry, Trade and Supply Minister Maha Ali said the Jordanian-US FTA, increased trade between the two countries, mainly the Jordanian exports to the US markets, expressing hope that the joint committee meetings will lead ... Read More »

Jordan’s exports down 12% in Q1

AMMAN: Jordan’s national exports retreated by 12.7 per cent in the first quarter of the current year while imports edged up by 4 per cent in the same period, according to official figures. The drop in exports pushed the country’s trade deficit to expand to 13 per cent, according to data released by the Department of Statistics. During the January-March ... Read More »

Jordan to connect to GCC power grid through Saudi Arabia

AMMAN: Jordan will sign a memorandum of understanding in the next few days with the GCC Interconnection Authority to join the Gulf countries’ grid via Saudi Arabia, a government official said Tuesday. “This is a very important deal for Jordan and it will be followed by several technical meetings to discuss further details of the project,” Abdel Fattah Daradkeh, director ... Read More »

Jordan, Morocco examine ways to increase trade

AMMAN: Jordanian and Moroccan businessmen on Monday pledged to step up efforts to increase joint trade and to eliminate trade barriers.  At a meeting that was organised by the Jordan Chamber of Commerce, Jordanian businessmen and trade officials, and an economic Moroccan delegation that is currently visiting the Kingdom discussed reviewed means to boost commercial cooperation and overcome trade- related ... Read More »