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French Version

Business Scene

* Royal Jordanian's debts are worth JD 80 million. Samer Al Majali, RJ's CEO and general manager, said these debts incurred when leasing new planes. The carrier's performance witnessed a gradual progress in the last three months.

The company, Jordan's national carrier, is comprehensively restructuring plans to modernize its planes and attract strategic partners to vitalize the company's operations worldwide. The company is expected to sell 49 percent of its shares to a strategic partner, with the remaining 51 percent owned by Jordanians. Al Majali noted that RJ's market-share in Jordan now is 49 percent compared to last year's 46 percent.

* Japan granted Jordan a $24.7 million loan in support of the government's socio-economic transformation plan. The money will help fund restructuring programs in many of the governmental institutions. $16.6 million of the loan will be used to finance developing projects in the Kingdom, which the Japanese government approved earlier this year.

* The Aqaba Special Economic Zone Authority is working on a new company to supervise the development process of the zone. The company, expected to start operation by the end of 2002, aims at promoting ASEZ on the national and regional front. It will enhance the zone's infrastructure and services provided for investors and businessmen. More than $70 million were traded in the zone during the first half of 2002. These were values of the goods and cargoes made in the area.

* Land owned by the Social Security Corporation (SSC) is worth JD 41 million. The land consists of investment projects and is distributed around the Kingdom. About 82 percent of the land is located in Amman, while Mafraq district has 13 percent. The SSC is working through with investment funds to finance these projects and sustain a gradual return.

* The government spent JD 100 million on its Social Security Package program in the first half of this year. Sources at the Ministry of Finance believe the program will be worth about JD 115 million at the end of 2002, about JD 42 million less than the government's earlier estimation. The government is allotting JD 25 million to finance 127 developmental projects in the Madaba district. The Social Security Package is targeting the remote areas and refugee camps around the Kingdom. The package is allotting JD 22 million in loans to more than 54,000 small/medium enterprises to sustain social development in rural and remote areas.

* Despite a sharp decline this year of Iraqi and Saudi investments in Jordanian companies, these investments are the highest among other non-Jordanian investments in the local commercial sector. Iraqi investments for 2002 are worth JD 2.2 million, followed by the Saudis with JD 2 million. British and American investments also declined this year by more than JD 2 million and JD 500,000 respectively. Chinese investments remarkably increased in the last eight months, with the commercial sector receiving JD 600,000.

* The high prices for tourists in Jordan forced many to shift their destination from Jordan to neighboring Arab countries. Around two million people visited Jordan in the first seven months of this year, a quarter of which were coming from the Arab countries. Most of the tourists were crossing the Kingdom to Syria and Lebanon. Sources at the Amman Chamber of Commerce noted the number of tourists this summer was expected to fetch three million people. They explained many of tourists wished to extend their stay in Jordan, but the high prices were a deterrent.

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