Ammon News, Business

Jordan wants to establish Free Zone on Jordanian-Iraqi borders

[10/17/2018 3:19:00 PM]

AMMONNEWS - The Minister of State for Investment, Muhannad Shehadeh, said on Wednesday, October 17, 2018, that Jordan is wants to establish a joint Jordanian-Iraqi Free Zone. Shehadeh pointed out that the Free Zone will be established close to the Jordanian-Iraqi border, for reasons of joint industrialization. This came during the fourth annual International Conference on Investment in Anbar/Iraq, which was held in the capital Amman.

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ASE opens trading on lower note

[10/17/2018 5:56:32 AM]

AMMONNEWS - The Amman Stock Exchange (ASE) Wednesday opened trading with a drop to 1,959 points compared to 1,961 points of last session closure. During the first 15 minutes of today's trading, the market index fluctuated between 1,959 points and 1,962 points with a trading volume of JD2.1 million, the ASE sources said.

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Clearance offices begin work at Jaber Border Center

[10/16/2018 4:31:07 AM]

AMMONNEWS - A total 30 clearance offices began work at the Jabir Border Center after renewing their licenses following the reopening of the Jaber / Naseeb crossing yesterday, according to President of the Association of the Owners of Clearance Companies Daifallah Abu Aqoulah. Abu Aqoulah said that the General Customs Department facilitated the re-licensing of the clearance offices at the Jaber Border Center three years after the closure of the Nasib crossing on the Syrian side and the subsequent closure of the Jaber Border Center. Abu Aqoulah pointed to the presence of 172 clearance offices at the Jaber Border Center before the closure of the crossing, expressing hope that trade will resume between Jordan and Syria in a way that would reflect on the work of these companies.

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Al-Ghanim announces merge of Kuwaiti, Jordanian IPU proposals on UNRWA

[10/14/2018 6:24:32 AM]

AMMONNEWS - Kuwaiti National Assembly Speaker Marzouq Ali Al-Ghanim announced the agreement to merge the Kuwaiti and Jordanian proposals related to the deficit in the budget of the United Nations Relief and Works Agency for Palestine Refugees (UNRWA). Al-Ghanim made his remarks after his participation in the coordination meetings of the Arab and Islamic groups held in Geneva on the sidelines of the 139th session of the Inter-Parliamentary Union. The two proposals were merged into one to increase the chances of winning the vote, he added. He noted that other geopolitical groups (African, Latin American and European) agreed to form a coordination committee, adding that the vote will take place Monday in the General Assembly of the Union. Kuwait's top lawmaker thanked the members of the Kuwaiti parliamentary delegation and the General Secretariat of the National Assembly's staff for their efforts to achieve Kuwait goals and support the Arab Islamic nations. National Assembly chief arrived in Geneva on Saturday to participate in the 139th session of the Inter-Parliamentary Union (IPU) scheduled on October 14-18. The Kuwaiti delegation includes several parliamentary officials. *KUNA

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Finance Minister meets world officials on the sidelines of IMF

[10/13/2018 2:33:32 PM]

AMMONNEWS - Minister of Finance Ezzeddine Kanakriya has held talks with a number of U.S. and European governments officials as well as Arab finance ministers on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB) held in the Indonesian island of Bali. Kanakriya also met with representatives of the International Monetary Fund and international investment funds, during which they discussed economic and financial relations and means of developing them. The minister met with US Assistant Secretary of Treasury Geoffrey W. S. Okamoto for a discussion on economic and financial cooperation between Jordan and the United States. They also discussed Jordan's economic and financial reform measures aimed at boosting economic growth. In another meeting, Kanakriya discussed with Deputy Director-General of the International Monetary Fund (IMF), Mitsuhiro Furusawa, and a number of IMF executives, the latest update on the financial and economic reform program being implemented in cooperation with the Fund.

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Jordan: Cabinet reshuffle in push for IMF-wanted austerity reforms

[10/13/2018 7:02:54 AM]

AMMONNEWS - Jordanian Prime Minister Omar al-Razzaz on Thursday announced a cabinet reshuffle just a few months in office as he pushes for tax bill that will fall in line with austerity measures requested by the International Monetary Fund (IMF) after the institution lent $723-million to the Middle East country whose finance have been in frail state. Razzaz, a former IMF officer was appointed in June after his predecessor Hani al-Mulki was forced to step down following vast demonstrations; the largest in years, after he attempted to introduce austerity measures including tax hikes as required by the IMF. Razzaz has brought down his 29-member cabinet to 27 ministers with minor changes including removal of health and higher education ministers over alleged nepotism scandals. The interior, finance and foreign portfolios remain unchanged. The cabinet reshuffle comes as the Prime Minister is pushing in the parliament a tax bill that he explains will enable the country to secure the IMF support and avoid higher servicing costs on over 1 billion dinars ($1.4 billion) of foreign debt due in 2019, Reuters reports. “We will pay a heavy price if we enter next year without a tax bill,” Razzaz said in an interview on state television last month. According to the Premier, the reforms will generate for the country an extra 300 million dinars in revenue. The kingdom received, last week, from Saudi Arabia, UAE and Kuwait, a $1 billion aid package to fill the budget deficit gap and public debt standing a $37 billion, equivalent to 95 percent of gross domestic product. *MEC

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Jordanian fertilizers officially registered in Tunisia

[10/10/2018 9:56:21 AM]

AMMONNEWS - Minister of Agriculture, Khalid Hneifat, has signed a protocol for the registration of fertilizers, pesticides, medicines and veterinary vaccines to ensure the mutual authentication of certificates and laboratory tests. This came on the sidelines of the meetings of the Jordanian-Tunisian Agricultural Committee held in Tunisia. On the occasion, Hneifat said the fertilizer registration came as a result of the industry's "high" standards, quality and competitiveness in international markets and the North Africa and the Near East in particular. The protocol aims to find marketing alternatives for the Jordanian agricultural industries in light of the challenges facing the agricultural crops sector, he pointed out, adding the agricultural industrial materials have an economic return and high-added value.

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