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Qatar’s sea freight set for growth around 36% this year: report

AMMAN: Tonnage throughput through Doha Port has been forecast to grow by 36% this year and average 24.5% until 2019, BMI Research has said in a report. Air freight tonnes at Hamad International Airport may grow by 4% this year and average 4.7% until 2019, BMI Research said. But freight trade, BMI said may decline 1.7% this year in view ... Read More »

Jordanian Exports from Zarqa reach JD30 million in May 2015

AMMAN: The value of commodities re-exported with a certificate of origin from the Zarqa Chamber of Commerce and the chamber’s office at the Free Zone in Zarqa, reached JD30 million while the certificates of origin stood at 1,098. President of the Chamber Hussein Shreem said most exports from Zaraq in June were automobiles and their appliances, electric generators, supply goods, ... Read More »

Jordan Securities Commission to raise its capital from JD181.5m to JD200m

AMMAN: Capital Bank of Jordan was authorised last week by the Jordan Securities Commission ( JSC ) to raise its capital from JD181.5 million to JD200 million. The JD18.5 million capital increase will be carried out through capitalising the amount from the JD44.16 million of retained earnings and distributing bonus shares at a rate of 10.19 to shareholders registered in ... Read More »

Software piracy rate expected to drop to 56%: library department

AMMAN: Jordan’s software piracy rate is expected to drop to 56 per cent in 2016 due to intensified efforts to combat the issue, Mohammad Abbadi, director general of the National Library Department (NLD), said Wednesday. “We are on the right track in this respect. The major international report measuring Jordan’s software piracy is released every two years and the next ... Read More »

Qatar Shipping buys two large LNG carriers worth o f$115.3m

AMMAN: Qatar Shipping Company, part of Milaha, has acquired the remaining 60% interests in two LNG carriers for an undisclosed sum from French bank Société Générale. The Korean-built vessels Milaha Ras Laffan (138,273 cbm, built 2004) and Milaha Qatar (145,602 cbm, built 2006) are currently both on 25-year timecharters to RasGas, with 14 years and 16 years remaining on their ... Read More »

Jordan’s Exports from Zarqa reach JD30m in May 2015

AMMAN: The value of commodities re-exported with a certificate of origin from the Zarqa Chamber of Commerce and the chamber’s office at the Free Zone in Zarqa, reached JD30 million while the certificates of origin stood at 1,098. President of the Chamber Hussein Shreem said most exports from Zaraq in June were automobiles and their appliances, electric generators, supply goods, ... Read More »

Jordan signs pact to create Asian bank for investment

AMMAN: Minister of Planning and International Cooperation, Imad Fakhoury, Monday signed an agreement to establish the Asian Infrastructure Investment Bank (AIIB) in Beijing as a founding member along with other 57 countries. The agreement, considered as the legal document and reference for organizing the bank’s work, includes articles about the bank’s objectives, scope of work, membership conditions and distribution of ... Read More »

Jordanian Customs foil attempt to smuggle 17,320 Captagon pills

AMMAN: Jordan Customs Department (JCD) officers at Al Modawara border crossing Monday thwarted a bid to smuggle 17,320 of the pharmaceutical drug Captagon. JCD said in a statement that the drugs were stashed in a water storage container aboard a passenger bus on the border. The department handed the contraband to the concerned authorities at Al Modawara border crossing for ... Read More »

Aqaba customs foils attempt to smuggle contraband

AMMAN: Officers of the Aqaba Customs Centre Sunday foiled an attempt to smuggle in a large amount of fireworks in a stepped up crackdown on dangerous goods, and also seized other contraband, according to the Jordan Customs Department. In a statement, the department said about 975 cartons of fire crackers were found concealed in a container that was declared as ... Read More »

Jordan customs thwarts bid to smuggle 17,320 pills

AMMAN:  Jordan Customs Department (JCD) officers at Al Modawara border crossing Monday thwarted a bid to smuggle 17,320 of the pharmaceutical drug Captagon. JCD said in a statement that the drugs were stashed in a water storage container aboard a passenger bus on the border. The department handed the contraband to the concerned authorities at Al Modawara border crossing for ... Read More »

Jordanian customs seize 75 cartons of fireworks, 209 cartons cigarettes

AMMAN: Officers of the Aqaba Customs Centre Sunday foiled an attempt to smuggle in a large amount of fireworks in a stepped up crackdown on dangerous goods, and also seized other contraband, according to the Jordan Customs Department. In a statement, the department said about 975 cartons of fire crackers were found concealed in a container that was declared as ... Read More »

World Bank expands Financial Guarantees to 50MW Solar Projects In Jordan

AMMAN: Jordan’s solar power program has received yet another boost as the World Bank has extended financial guarantees to four solar power projects in the country. The Multilateral Investment Guarantee Agency, part of the World Bank Group, has announced investment guarantees to cover for political and other risks to four solar PV power projects in Jordan with total generation capacity ... Read More »

Jordan’s Trade deficit narrow by 15.7% during First 4 Months Of 2015: Cairo Amman Bank

AMMAN: The Department of Statistics released figures showing that Jordan’s trade deficit narrowed by JD 526 million or 15.7% during the first third of 2015 compared to the same period in 2014. The trade balance stood at JD -2,835 million in the first third of 2015, compared to JD -3,361 million over the same period in 2014. All exports, imports, ... Read More »

Jordanians deposit over $3b in Swiss banks in 2014: SNB

AMMAN: Deposits of Jordanians in Swiss banks were around JD2.13 billion (around $3 billion) last year, according to a recent report released by the Swiss National Bank (SNB). The report showed that savings of Jordanians in Switzerland grew by around 12 per cent over 2013, when deposits stood at JD1.9 billion. Deposits of Jordanians in Swiss banks have been on ... Read More »

Jordan’s total exports during the first 4 months of 2015 amounts to JD1.7b

AMMAN: Total exports during the first four months of 2015 amounted to JD1.7 billion, 12.1 per cent less than the figure during the same period of 2014, according to the Department of Statistics (DoS). Data showed a 13.7 per cent drop in domestic exports to JD1.5 billion, and a 2.2 per cent decline in re-exported items to JD262.3 million, compared ... Read More »

Jordan Chamber of Commerce opens liaison office in Aqaba

AMMAN: Jordan Chamber of Commerce (JCC) President Nael Kabariti announced on Tuesday that the chamber has inaugurated a liaison office at the Aqaba Chamber of Commerce (ACC) in partnership with the Amman Chamber of Commerce. The office aims at following up on the commercial sector’s issues and complaints related to merchants’ containers and ways to overcome such challenges, Kabariti said. ... Read More »

Building materials costs likely to surge ahead of 2022 Qatar football event: experts

AMMAN: The cost of construction materials in Qatar is likely to jump as the host nation intensifies infrastructure building ahead of the 2022 World Cup, and other building projects could finish late as a result, industry experts say. Qatar is set to spend more than $200 billion on the soccer tournament as part of a 2030 development plan, although tough ... Read More »

Jordan Clothing Co accumulates a big financial deficit of JD2.3m

AMMAN:  Stuck for years in a cycle of losses, Jordan Clothing Company (CJC) accumulated a big financial deficit that eroded more than 50 per cent of its JD4 million capital. According to auditor Arab Professionals, a member of Grant Thornton,  the accumulated losses reached JD2.3 million at the end of March 2015  following a JD300,000 loss during the first quarter ... Read More »

Amman’s Four Seasons Hotel earns JD3.9m in Q1 of 2015

AMMAN:  Lower earnings and profits during the first quarter (Q1) of this year took the shine off  the rock-hard annual 2014 and 2013 financial results at Mediterranean Tourism Investment Company (METICO). METICO, a public shareholding company that owns the Four Seasons Hotel in Amman, earned JD3.9 million during the first three months of this year, 7.1 per cent less than ... Read More »

Jordan’s Aqaba Container Terminal works 90% of its operational capacity

AMMAN: The Aqaba Container Terminal (ACT) is working at 90 per cent of its capacity, with an average of 800 containers entering the Kingdom daily, according to the Aqaba Special Economic Zone Authority (ASEZA). Customs and inspection procedures on containers last for five days on average, ASEZA Deputy Chief Commissioner Yusuf Mansur said, refuting “rumours” that containers stay at the ... Read More »