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French Version

Business Scene

SSCís investment outlook

* The Social Security Corp (SSC) earned 4.3 percent in return on its investments last year, declining by 0.5 percent over 2001. In its financial statement, the corporationís revenues in 2003 are expected to increase by JD 47 million to JD 237 million. The corporation is expected to invest JD 141 million this year, half of which from returns on the corporationís investments. The SSCís assets enhanced over the past two years by 16 percent to JD 675 million. More than 405,000 people are subscribed to the SSC. Meanwhile, Minister of Labor and SSCís Chairman, Mzahim Muhaisen indicated the corporation will focus in future on employing part of its deposits at local banks, valued at JD 600 million, to invest in the Aqaba Special Economic Zone. The corporation has allocated JD 50 million for international investments and aims to invest JD 30.4 million in local treasury bonds.

RJ is ready for Baghdad

* Royal Jordanian, the Kingdomís national carrier, is expected to be the first carrier to reach Baghdad after the war. Samer Al Majali, RJís CEO, announced last week that RJ is ready to resume its flights to Baghdad soon after the UN sanctions are lifted. Al Majali said RJ would operate a daily flight to Baghdad in the first few weeks to support deliveries of international aid agencies humanitarian assistance to the Iraqi people. Such aid would include food and medical supplies. RJ used to operate four flights a week to Baghdad under an agreement with the UN Security Council before the war. These were suspended when the US and Britain attacked Iraq on 20 March.

Renovating sites

* The government is allotting JD 150 million to restore and develop the touristic and historic sites in the Kingdom. Minister of Tourism, Nader Al Dahabi said Saturday the renovation process aims to maintain the very ancient and religious aspects of these sites. Al Dahabi noted the process would be covering all the Islamic castles and sites in the Kingdom. The first phase of the renovation process was completed earlier this year at the Karak Castle at JD 1 million. The Jordanian governmentís Socio-Economic Transformation Plan, the World Bank and the Japanese Bank of Development, are financing the renovation process expected to finish by 2005.

JPMCís profits soar

* The Jordan Phosphates Mines Co made JD 5.5 million ($7.9 million) in profits for the year 2002, the highest in 10 years and at an increase of 38 percent over 2001. The companyís sales also increased in 2002 by 3.6 percent to JD 198.3 million. JPMC produced 6.1 million tons of phosphates last year, two thirds of which went to foreign markets. JPMCís board of directors decided last week to sell its entire 10.5 percent shares holding in the Pakistan-Jordanian fertilizers companyís capital of $111 million.

Hauling business revived

* War in Iraq had its effect on the flow of public transport in Jordan. Peopleís demands on buses, taxis and white cabs started to flourish again after a three weeks disruption due to the public interest in keeping tuned to the war news. Sources at the Jordan Transport Regulatory Commission said Jordaniansí demand of public transport dropped by 10 percent during the period of the war. JTRC sources noted different trends of behavior were seen developing among Jordanians as they rescheduled their commuting time to suit the broadcast of events on TV satellite stations. Some went as far as canceling trips they would have otherwise made. More than 26,600 buses, taxis and white cabs operate in the Kingdom and serve around 1.5 million people on a daily basis.

The Star

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