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French Version

Business Scene

Establishing Jordanian-Saudi Holding Company
*Head of Jordan Chamber of Commerce/ Head of the Jordanian part at the Jordanian-Saudi Joint Business Council, Haider Murad, announced the establishment of a Jordanian-Saudi Joint Investment Holding Company, on the sidelines of the Jordanian economic delegationís visit to Saudi Arabia. Murad added that members of the Saudi part took the initiative to announce the company with a capital of $2 million and to run an investment fund with $500 millions. Murad said that establishing the company is one of the councilís fruits and a direct result of the Jordanian delegationís visit to Riyadh and Jeddah. Murad also noted that the Saudi part welcomed the Jordanian suggestion to open an office for Jordan Investment Board, to help Saudi businessmen, of whom many have expressed interest in investing in Jordan.

Jordan, Egypt sign Labor agreement
*On the sidelines of the Arab Labor Conference, Minister of Labor Basem Al Salem and his Egyptian counterpart Dr Aeshah Abdul Hadi signed on Sunday and agreement to organize the import of Egyptian labor to Jordan. According to the agreement, Jordan will continue importing Egyptian workers under certain procedures to ensure that they obtain cards showing details of the contract accredited by the Jordanian Ministry of Labor and the Egyptian Embassy in Amman.

Demand for Cement to surge
*Due to the surge in construction projects throughout the kingdom emanating from the substantial investments in this sector, demand for cement will rise to 10 million tons this year compared to 4 million tons last year, estimated Mr Yusef Qarneh, president of Jordan Contractors Association. However, he warned that the capacity of Jordan Cement Factories Co. would not cover this surge in demand and therefore measures must be made available to import cement to offset any tendency of rising prices and shortages that would adversely affect the construction sector and future investments potential. Meanwhile, Qarneh called on the government to exempt imports of cement from any duties in order to keep stability in the market, and circumvent any attempts at black marketeering that characterized similar situations in the past.

The performance of ASE during 2005
*During 2005, the net investment of non-Jordanians at Amman Stock Exchange (ASE) showed a positive balance of JD413.0 million, compared to JD69.0 million during 2004. As a result, non-Jordanians ownership in the ASE market capitalization increased to 45.0 percent compared with 41.3 percent at the end of 2004, according to CEO of ASE, Mr Jalil Tarif. Trading volume increased by 345 percent compared to the year 2004 to reach JD16.9 billion, the number of shares traded also increased by 93 percent compared with the year 2004, reaching 2.6 billion shares. The number of transactions increased by 103 percent compared with the year 2004, reaching 2.4 million transactions. The ASE market capitalization increased by JD13.6 billion reaching JD26.7 billion, an increase of 105 percent over the end of 2004, and representing 327 percent of the GDP, which is considered to be a high ratio on the international level, this reflects the importance that the ASE plays in the national economy, Tarif added. The turnover ratio for the ASE increased to 94 percent compared with 58 percent for the year 2004. It is worth mentioning that all ASE performance indicators for this year are the highest since the Amman Financial Market was established in 1978. It is worth mentioning that the performance of the Jordanian shareholding companies was outstanding in the year 2005. The net income before tax increased by the end of the third quarter of 2005 by 103 percent reaching JD1.1 billion

The Star

Some Marks
To see in Jordan
Fairs & Exhibitions
Useful Addresses
Media of 1stjordan
Impact of 1stjordan
The 'First Jordan' Card
Press Book
Exotica - Flowers - Shopping on line
Engineering Consultants Lebanon
Nsouli Jewelry Lebanon
Hotel Beirut Lebanon
Rent Villas France for Holidays, Seasonal Rentals France
Sole Agent for Philips & Whirlpool in Lebanon
Arab Printing Press Lebanon
Hotel Beirut Lebanon
Arabic Music, CD Arabia
Hotels Syria
Groupe PMR