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Business Scene

Jordan's trade protocol is expected to be worth JD 350 million ($500 million) this year. Sources at the Ministry of Trade and Industry said the agreement includes the Jordanian allotment for the UN Oil-for-Food Program. These figures depend on the continuation of current world oil prices. Both Iraq and Jordan are working on a free trade agreement and expected to be signed officially in February.

* The Jordan Television and Radio Corp (JTVR) made JD 7 million in revenue last year. Nart Bouran, JTVR's director general, said the corporation saved more than JD 4 million due to administrative reconstruction. Two million dinars were used to clear 40 percent of JTVR's debt. Bouran noted the corporation is working in cooperation with private sector enterprises to produce new television programs. These companies will employ only Jordanian professionals.

* Insurance premiums for the Arab Eagle Insurance Co (AEIC) doubled to JD 4.3 million in 2001. The company's assets also increased by 14 percent to JD 5.3 million. AEIC is the first corporation to release its annual report for 2001.

* A gradual decline in fees for telephone calls, monthly subscriptions and telephone installation is expected to be announced next week. Sources from Jordan Telecom Co (JTC) note the decision comes at time when the company is creating new facilities to improve its services in the Kingdom. Telephone installation costs will decrease from JD 80 to JD 56 for households and businesses will pay JD 112 rather than JD 160. Rates for regional and international calls are also being reduced 7.5 percent. Calls to Palestine will be 8 percent less, decreasing from 360 fils to 330 fils per minute.

* Assets at the Central Bank of Jordan (CBJ) are worth JD 4.5 billion, approximately JD 3.1 billion of which are in foreign currencies. Gold assets for the bank are estimated at JD 100 million, while foreign deposits and cash are worth JD 1.2 billion. CBJ's liabilities are currently valued at JD 1.3 billion.

* In 2001, about 21,270 new companies and individual enterprises were registered at the Ministry of Trade and Industry at a value of JD 276 million in gross capital. Commercial enterprises came first, at JD 123 million, followed by tourism companies at JD 25 million. Arab interests ina these companies are worth JD 32 million, while non-Arab assets are valued at JD 10 million.

* Jordan's Arab Mail Express (Aramex) is due to be taken over by the Dubai-based Rasmallah Distribution Co, at a cost of $61 million, sources say. The deal comes at a time when Aramex is doing considerable worldwide business. Revenues for the Jordanian company are expected to come to $100 million when figures for 2001 are published.

* Ministry of Public Works has projects worth JD 70 million in the Aqaba Special Economic Zone. These include development of new infrastructure, including road construction, in the area. The ministry is also working in cooperation with the Housing and Rural Development Corp in Aqaba on a JD 2 million touristic project.

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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