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French Version

Business Scene

IEC enlarges sales and exports

* The Industrial Estates Corporation (IEC) increased its sales in 2002 by 16.6 percent to JD 727 million while exports rose by 17.4 percent to JD 445 million, compared to JD 379 million in 2001. IECs exports constituted 39 percent of the Kingdoms total exports. The IEC figures encompass trade transactions carried out by the three industrial zones; the Al Hassan in Irbid, the King Abdallah II in Sahab and the Al Hussein Bin Abdallah II in Karak. According to IECs annual report, there are 472 companies located in the three zones with a total investment of JD 1.168 billion. More than half of IEC sales, JD 380 million, in 2002 were manufactured in King Abdallah Industrial Zone, with foodstuffs being the most sold products. The IEC report indicated that the Aqaba International Industrial Zone, which was inaugurated earlier this year, is expected to receive most of the attention this year due to the rapid influx of investments to the area.

Cement price rise

* Jordan Cement Factories Co (JCFC) raised the price of cement by three dinars to JD 55 per ton. The decision was to compensate for the recent rise in fuel prices. Samer Biraqdar, JCFCs director general, said the company would stop its exports to Red Sea markets starting in July. Biraqdar, however, noted the company would extend its exports to Syria and the Palestinian territories. JCFCs decision pushed up prices of residential apartments in Jordan. Jordanian cement traders criticized JCFCs move and asked the government to fight cement monopoly in Jordan and open the market for fair competition to lower housing and construction costs in the long run.

Managing despite challenges

* The Cairo-Amman Bank made JD 3.5 million in net profits in the first quarter of this year despite the increase in expenditures incurred by the banks branches in the Occupied Palestinian Territories arising from the Israeli military procedures. Khalid Masri, the banks chairman, said the bank did its best to balance the rising expenditures with the quality of its services, a fact that helped the bank in retaining better results. Over the past 12 months, the bank suffered a 3.6 percent decline in its credit facilities. Its deposits and shareholding rights have also declined by JD 6 million and JD 12.5 million respectively.

Smoking burns more money

* Jordanians spend more than JD 200 million on cigarettes and tobacco products. According to Dr Hussein Shakhatra, director of the General Statistics Dept, the amount is equivalent to the local annual production. Smokers constitute 38 percent of the population above the age of 15. In the age group 55-59, the ratio of smokers is 46 percent of the total. Between the ages of 15 and 19, smokers account for 17 percent of the group. Jordan is one of the 190 countries that approved the first international anti-smoking treaty. The World Health Organization adopted the convention on tobacco control to fight the habit that kills more than five million people every year.

Surviving tourism at Dead Sea

* Ministry of Water and Irrigation is promoting tourism to the Dead Sea. Over the past four months, the ministry signed agreements with two companies, Egyptian and English, worth JD 73 million to expand tourism to the eastern shore of the sea. The two companies will build two villages in the area for tourists, to promote the natural and therapeutic aspects of the Dead Sea. The construction of these villages will begin soon and are expected to open to the public by mid-2006

The Star Redaction
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