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Business Scene

The International Monetary Fund (IMF) is urging Jordan to increase fuel prices to support its Balance of Payments. Cabinet sources noted Sunday the IMF expressed concern over the slow motions of economic reform in Jordan.

* The International Monetary Fund (IMF) is urging Jordan to increase fuel prices to support its Balance of Payments. Cabinet sources noted Sunday the IMF expressed concern over the slow motions of economic reform in Jordan. But IMF officials did praise Jordanís privatization program. Jordanian sources stated the government will ask the IMF next year to pursue a new one-year reform program.

* More than $450 million are invested in Jordanís private hospitals, about $100 million of which came in the last four years. The medical sector makes up nearly 9 percent of Jordanís GDP, estimated at $550 million. Sources at the Jordan Investment Board stated the medical sector attracts many investments from abroad. Therapeutic tourism is among the fields that attract investments, making up 40 percent of overall investments in the medical sector.

* A new general census will take place in Jordan in 2004. The JD 6.7 million census will take four years to be completed with results published in the media. Preparations for the census starts in 2002. Jordanís last general census was in 1994.

* The total value of bounced checks in the first quarter of 2001 reached JD 136 million. This is an increase of JD 4 million over the same period last year. The number of bad checks, however, declined this year by 6000 from 2000. Bankers and businessmen attributed the increase in value of bad checks because checks are recognized as credit tools among business dealers. In 2000, the total amount of bad checks reached about JD 500 million.

* Amman-Cairo Bank made JD 7.8 million in profits in 2000. This is an increase of 85 percent over 1999. Deposits in 2000 also increased by JD 33 million to JD 732.4 million. The bank keeps 56.4 percent of its assets in cash, while shareholding rights went up to JD 38.8 million. The bank distributed JD 2.5 million of its capital in complimentary shares to shareholders.

* Fees paid by foreigners at different points of departure were re-fixed this month at JD 5 each. The Ministry of Tourism made this decision, which became applicable on 16 June, to make departure procedures more easier for custom officials and foreign tourists. In the past, fees via air, land and sea departure points were JD 10, JD 4 and JD 6 respectively.

* Trade volume between Jordan and Indonesia over the last five years declined by JD 4 million to reach JD 62 million in 2000. This is due to the decrease in Jordanian exports to Indonesia. Sources at the Ministry of Trade and Industry noted Jordanís exports were facing mounting competition in terms of quality and quantity. They also noted Indonesian investments in Jordan are on the increase, especially in industrial and IT sectors.

* The US-based General Electric Co. will conduct an expansion project on Rihab power station at a cost of JD 24 million. The 19-month project aims to enhancing the National Power Network by February 2003. It is also planning to turn the Rihab station into a gas-powered station.

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Media of 1stjordan
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The 'First Jordan' Card
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Exotica - Flowers - Shopping on line
Engineering Consultants Lebanon
Nsouli Jewelry Lebanon
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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
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Groupe PMR