Ammon News, Business

Germany to Help Jordan Export Its Products to EU Market

[2/18/2019 9:03:07 AM]

AMMONNEWS - Siefker-Eberle said that Jordanian industry has the potential to access the EU market, adding that the German embassy in Amman will prepare a study on the mechanisms to help Jordanian companies export their products to the European market, the Jordan News Agency, Petra, reported. The ambassador’s remarks came at a meeting with Chairman of the Amman Chamber of Industry Fathi Jaghbir during which she said that Berlin wishes to increase the Jordanian exports to Germany, according to Petra. Siefker-Eberle also said that the embassy will contribute to enhancing Berlin-Amman economic relations through a set of programmes. The ambassador added that her country will participate in upcoming London conference, scheduled for the end of February to support the Jordanian economy, according to Petra. Jaghbir said that the Jordanian exports to Europe are “hindered by regulatory and legislative” complications imposed by the EU and the rules of origin requirements, according to Petra. Jordan has reached an “initial understanding” with the EU to ease some requirements in the EU relaxed rules of origin for Jordanian exports to Europe, including a reduction in the percentage of Syrian manpower in the exporting industry.

Read Comments

Jordan participates in Gulfood expo in Dubai

[2/17/2019 2:11:06 PM]

AMMONNEWS - Acting Consul General in Dubai, Shafa Omoush, has opened a Jordanian pavilion in the Gulfood, the world's largest annual food & beverages trade show, in its 24th edition in Dubai, United Arab Emirates (UAE). On the sidelines of the trade show inauguration ceremony, which saw the participation of 44 Jordanian companies, Omoush highlighted to Jordan News Agency (Petra) the importance of Gulfood that is considered an opportunity for communication between institutions of the private sector in a large number of participant countries. Jordanian Exporters Association (JEA) Vice President Ahmad Khudari said that the trade show is an opportunity for businessmen to get to know other countries' experiences especially in light of the rise in consumer spending worldwide, which requires being up-to-date in the food industry. The five-day trade show hosts more than 5,000 regional and international bodies representing some 120 countries across the world.

Read Comments

Fuel sector provides 10,000 job opportunities, official

[2/17/2019 6:10:53 AM]

AMMONNEWS - President of the Energy and Minerals Regulatory Commission Council Farouq Hiyari stressed the importance of the oil derivatives sector in the Kingdom, which has 580 petrol stations and employs about 10,000 workers. In a press statement on Sunday, he stressed the importance of the commission's interest to provide the legislative environment and keep pace with new technology to improve the performance of the sector and achieve the interests of its employees. Hiyari pointed out that the Commission is in contact with the institutions of the sector through meetings and field visits and inspection to ensure good performance and provide better services to consumers. *Petra

Read Comments

$96 Million Loan to Support Jordan's Banking Sector

[2/15/2019 3:03:34 PM]

AMMONNEWS - The loan is meant to support the government’s efforts to continue reforms in the financial and banking sector, in a way that enhances access to finance and financial services, according to a Finance Ministry statement. The loan also aims at enhancing financial inclusion, developing payment and settlement systems and improving monitoring and supervision systems on the financial and banking sector. Finance Minister Ezzeddine Kanakrieh and AMF Director General and Chairman of the Board Abdulrahman Al Hamidy signed the agreement in the presence of Central Bank of Jordan (CBJ) Governor Ziad Fariz and CBJ Deputy Governor Adel Sharkas. With the signing of this agreement, the total number of loans the AMF presented to the Kingdom stands at 23, with a total value of 186 million Arab accounting dinars, equivalent to some $778 million, according to the statement. Meanwhile, the AMF, through the Arab trade finance programme, offered credit facilities to finance the Kingdom’s foreign trade, through which the 15 Jordanian agencies accredited by the programme signed 65 line-of-credit agreements with a total value of $1.125 billion. The Kingdom is currently utilising $100 million out of a ceiling set at $165 million for Jordan to benefit from the Arab trade finance programme, bringing AMF and programme funding to the Kingdom to an estimated $2 billion. Jordan also benefits from technical assistance programmes to support reform efforts in Arab countries, which provides training opportunities for Jordanian technical employees working at the CBJ, the Finance Ministry and the financial, monetary and statistical agencies through the AMF’s Institute of Economic Policies. In this regard, 788 Jordanian employees have participated in the courses and workshops organised by the fund in various economic, banking, monetary, financial and statistical fields.

Read Comments

Jordan To Resume Air Services With Syria Within Days

[2/13/2019 8:01:15 AM]

AMMONNEWS - Jordan will resume air services with Syria and allow its aircraft to fly over the Syrian airspace in several days, a member of the Jordanian parliament said Wednesday. "Jordan will resume air traffic with Syria and start using Syrian airspace for flights within a few days," Tarek Khoury, the head of the Jordanian-Syrian friendship committee. Jordanian carriers Have been circumventing Syrian airspace since 2013 over safety concerns.

Read Comments

Business360° Conference Concludes Activities

[2/11/2019 6:04:57 PM]

AMMONNEWS - The Business360° Conference, organized by SPARK Jordan - which falls under SPARK, a global non-government organization working in the areas of entrepreneurship and higher education throughout 17 regions worldwide - in cooperation with Luminus Education, has concluded its activities. Held at Luminus Technical University College (LTUC) under the patronage of Prime Minister H.E. Dr. Omar Razzaz, the event was deputized by Minister of Industry, Trade and Supply H.E. Dr. Tareq Hamouri, in the presence of Ambassador of the Kingdom of the Netherlands to Jordan H.E. Barbara Joziasse. Aimed at supporting micro, small and medium enterprises (MSME), the unique event brought together a host of business owners, executive managers, board members, decision makers and entrepreneurs who joined 14 training workshops delivered by industry experts on varied topics, in addition to numerous sessions and activities. Guests also attended the Business360° Exhibition, which served as a prime platform for interacting, networking and exploring potential business opportunities. Along the sidelines, the Bedaya Business Plan Competition drew the participation of over 400 entrepreneurial ideas, 11 of which received financial support ranging between JOD 3,000 and JOD 8,000 - announced during the Business360° Closing Ceremony. The top projects winning first, second and third place, respectively, comprised Khasitna: a supplier of fresh fruits and vegetables, and homemade meals; Solvillion: a decentralized wastewater treatment system; and Ebtkrni: a producer of boxes manufactured from 2D pieces assembled to form moving 3D structures, ultimately promoting recreational learning and a do-it-yourself culture. The remaining winners included: Turbinoo NdFeB, Spaceulous, Mini Me Skills Kit, Nerogarden, Greeners, 3Du, Smart Home and ZConcrete. “Today marks the beginning of SPARK’s exciting journey with the promising entrepreneurs who participated in the Bedaya Business Plan Competition, where we will be lending valuable support through incubation, mentorship and soft loans,” commented SPARK Jordan Country Manager, Haneen Khatib.

Read Comments

Jordanian parliamentary team in Syria for cross-border trade talks

[2/11/2019 5:27:28 PM]

AMMONNEWS - A Jordanian parliamentary delegation currently visiting Damascus met with Syrian Transport Minister Ali Humoud to look into prospects of activating freight shipping and transit movement agreements between the two countries. "The minister pledged to look into the possibility of cutting by half fees on goods exchanged between Jordan and Lebanon through Syrian territory, and forming a joint committee to address this matter", said MP Tariq Khoury, Chairman of the Lower House's Jordanian-Syrian Brotherhood Committee. The Syrian minister commended the committee's efforts to advance relations between the two neighbouring countries. The meeting also dealt with a number of issues, including opening Syrian airspace to flights, which would benefit both sides, as well as extending operating time at the Nasib Crossing on their common border by two hours.

Read Comments