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Business Scene

Pensionary wages in August cost the treasury more than JD 25 million. This is an increase of 1.1 million over July. These wages comprise retirement incomes for former ministers and ex-deputies.

* Pensionary wages in August cost the treasury more than JD 25 million. This is an increase of 1.1 million over July. These wages comprise retirement incomes for former ministers and ex-deputies. According to sources at the Retirement Dept of the Ministry of Finance, pension wages in the first eight months of this year comprised 17 percent of the overall public expenditures, now at JD 166.72 million. This year's pension outlay increased 2 percent over the same period in 2000. Rumors circulated earlier that pension wages for ministers and members of parliament in Jordan were worth JD 16 million. The government denies this.

* Trade between Jordan and China will increase very shortly. Jordanian businessmen just returning from a working visit to China believe joint investments will boost trade between the two countries even though the trade balance will benefit China. The volume for the first half of 2001 stood at JD 90 million. One fifth of this was Jordanian exports to China. Jordan exported $46.2 million in goods to China last year and imported Chinese products worth $169 million.

* Jordan's imports from its Arab neighbors increased during the first seven months of this year by 16.6 percent to JD 478.4 million. This means 24 percent of overall imports come from outside the Arab world. Iraq was Jordan's largest trading partner, making up some 60 percent of the Kingdom's imports, at JD 285 million. This was followed by Saudi Arabia at JD 65 million. Syria came in third at JD 25.5 million.

* The minimum capital for new insurance companies to begin business in Jordan was increased to JD 10 million. The Jordan Insurance Regulatory Commission last week issued a new system requiring new insurance companies to provide a clear, comprehensive program detailing their performance in the Kingdom. The law requires companies who wish to provide life insurance policies to increase their capital to JD 15 million individually.

* Jordan Telecom Co (JTC) is about to issue a JD 30 million loan to develop the telecommunications sector in the Kingdom. JTC Chairman, Shabib Ammari, noted his company would establish a new company to provide Jordanians with the latest in Information Technology services in Jordan. JTC is also expected to establish a call center in Aqaba to help international investors and businessmen there more easily contact the world.

* Experts in the Middle East warn hotels and touristic spas around the Dead Sea are becoming structurally unsound because of instability in the area's natural structure. In a statement issued by scholars from around the world, including Jordan, the experts pointed out cavities and excavations spreading around the area are threatening the foundation of hotels built at its shores.

* Tourists coming to Jordan increased 7 percent in the first eight months of the year, despite the political unrest in the Middle East. Statistics at the Ministry of Tourism revealed revenues from visiting tourists declined this year by one percent to $500 million. The tourist occupancy in Jordanian hotels also declined by 21 percent from last year. The statistics did show domestic tourism increased this year by 10 percent.

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Some Marks
To see in Jordan
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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