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Business Scene

* Jordan's exports to Iraq through the UN Oil-for-Food program in the last six months were 161.4 million euros (JD 114 million). These included 93 contracts made with Jordanian companies. The UN program approved about $39 billion in international contracts with Iraq since the program was launched in December 1996. A Jordanian economic delegation is currently visiting Baghdad to discuss the possibility of renewing the mutual trade protocol and oil agreement for 2003.

* The Jordan Investment Corporation's (JIC) plan for 2003 includes JD 500 million in local and international investments. Reem Badran, JIC's director-general, said the plan will provide more facilities and incentives for investors, from Jordan and abroad, to set up their businesses and investments in the Kingdom. Badran noted the corporation is working on a special project to control Foreign Direct Investment in Jordan to evaluate the sum total of investments in the Kingdom.

* The trade volume at the Amman Stock Exchange (ASE) is JD 875.7 million. This was made in the first 10 months of this year. It increased by 52.5 percent over the same period last year. Sources at the ASE indicated the good performance of shareholding companies in the first half of this year influenced overall trading in the stock market. This, however, is overshadowed by the prevailing fear among shareholders and investors because of the current political instability in the region.

* About 60 percent of the Jordan Electricity Co is expected to be sold to the private sector soon. Rashad Abu Rass, director of the Jordan Electricity Commission, denied, however, the government is asking the World Bank to take part in the privatization of the electricity sector. Abu Rass noted the commission will reduce electricity prices gradually in the coming 10 years.

* Jordan's exports to the European Union's member states declined in the first nine months of this year by 18.3 percent to JD 32 million. According to the Ministry of Trade and Industry, national exports to the EU comprise about 3 percent of the Kingdom's overall exports for 2002. Jordan's imports from the EU also declined this year by 5 percent to JD 772.1 million. Trade deficit between Jordan and the European Community this year registered a JD 32 million slope over last year's, and put at JD 740.3 million.

* Jordanian expatriates sent $900 million in remittances to the Kingdom in the first half of 2002. Central Bank statistic showed about two-thirds of these remittances were used. Statistics also show non-Jordanians working in the Kingdom received JD 74 million in payments. Investment costs in the year's first half were JD 97 million.

* Trade volume between Jordan and the US increased in the first half of 2002 by 27.8 percent to JD 326 million. American sources said the increase in the bilateral trade volume is a result of the current free trade agreement between the two countries, which became effective in December 2001. The US Assistant Secretary of State, Alain Larson noted mutual trade is a long-term development that will promote economic cooperation with Jordan and enhance partnership between the private and public sectors in Jordan.

* The 2003 budget for local municipalities is JD 100 million, an increase of JD 14 million over this year's budget. The 2003 budget will be divided into 99 municipalities. The Ministry of Rural Affairs is working with the Cities and Villages Development Bank on a plan to study the financial situation of local municipalities prior to approving next year's budget.

* Women employees comprise 28 percent of the total workforce in Jordan's Information and Communications Technology (ICT) sector. A recent study by the UN Women Development Fund indicated 13 percent of employed women in the ICT sector are working in managerial positions.

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