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French Version

Business Scene

* The Jordan Phosphate Mines Co (JPMC) made JD 3.8 million in net profits for the first half of 2003, tripling its profits for the same period of 2002. During the same period, the company, however, witnessed a gradual decline in its sales, reaching JD 93.1 million compared to JD 100 million in 2002. JPMC’s financial statement for 2003 indicated that the war on Iraq has affected the company’s foreign exports, in which many shipments were delayed or canceled. Another factor was the holdup of India’s imports of Jordanian fertilizers during the first half, due to financial reasons on the Indian part. India is a top importer of Jordanian fertilizers.

Investments secure foodstuffs

* Jordan is working on an agricultural investment project in Sudan worth $140 million. The project aims at providing the Kingdom with its annual needs of foodstuffs up to the year 2010. It is part of the mutual economic cooperation between Jordan and Sudan, enhanced by the bilateral agricultural investment that was signed in 1997. The project is located on 250,000 dunums in the Nile area, and will include cattle and vegetation farms, with two-thirds of the land to be cultivated for field crops, such as peas and corn. The project is expected to produce 11,000 tons of meat annually up to the year 2010.

New TRC rates to Baghdad

* The Telecommunications Regulatory Commission (TRC) endorsed last week new tariffs for land phone calls with Iraq. One minute of daytime calls costs 631 fils, while at nighttime it is 442 fils. TRC President Muna Najem noted that the latest tariffs are temporary until the telephone links to Iraq are back to normal. The TRC move will facilitate making phone calls for people who used to make these calls through the costly satellite-based Thuraya services. So far, there are only 200,000 landlines working in certain districts of Baghdad.

Sales Tax Dept. lowers registration level

* More than 1500 merchants were included this week in the Sales Tax scheme, raising the number of merchants who are included in the tax to over 7500. The latest increase came after the Sales Tax Dept’s decision to reduce the registration entry level of businesses’annual sales to more than JD 100,000 from the previous level of more than JD 150,000. The department’s sources estimated the increase in the annual revenues after that decision to reach JD 6 million. More than 11,000 factories, firms and shops are included in the Sales Tax scheme, generating more than JD 600 million in annual revenues to the department.

Tourism on the way

* A recent study by the Ministry of Tourism indicated that developing tourism requires a steady growth in annual revenues to reach JD 1.5 billion by 2010. The study emphasized the need to enhance partnerships between the private and public sectors to better realize the sustainability of touristic development. The number of tourists coming to the Kingdom is still far below the required levels, estimated at less than 2 million people annually. The study called for more efficient investments in the tourism sector to promote its religious, cultural, environmental and therapeutic aspects. The government makes about JD 500 million in revenues from tourism, of which 2 percent (estimated at JD 10 million) are allocated to promote tourism.

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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