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French Version

Business News in brief...

Report lauds record growth
* A recent analytical report by the Lebanese Banque Audi, indicates that Jordan’s economy “enjoyed reasonably robust growth following the upheaval of the US-led invasion of Iraq in 2003”. It noted that the real GDP grew at 7.2 percent in 2004, a record rate in more than a decade. It warns, however, that the Jordanian economy must continue to expand to create enough jobs in order to offset the Kingdom’s fast expanding work force. The report attributed the growth to major activity in Jordan’s exports and imports, construction and merchandize during 2004.

ASE shows good 1st Quarter
* The Amman Stock Exchange (ASE) circulated more than 5.49 billion shares worth JD2.2 billion, during the first quarter of 2005. According to the ASE report, the stock market’s trading volume witnessed growth by 54 percent and 14 percent in the number of circulated shares and value respectively, compared to the first quarter of 2004. Most of the growth this year was realized in the insurance sector that grew by 56 percent over the same period of last year, followed by the services sector at 35 percent and banking at 32.5 percent.

Garments lead in exports
* Minister of Industry and Trade Ahmad Hindawi said Jordan aims at increasing the value of its garment-based exports to the US market by 65 percent to $1.5 billion within the coming few years. He was speaking during the first COLLABO-TEX conference held in Amman this week, with more than 200 delegates from the Middle East and North Africa, Europe and the US. Hindawi said that Jordan would take advantage of its trade agreements with the EU, including the Agadir Accord, to activate its garment exports to European markets. Garments made 30 percent of the Kingdom’s entire exports in 2004, at value of $940 million.

ABC raises capital
* The Arab Banking Corporation (ABC) netted JD7.1 million in profits last year, up by JD1.3 million over 2003. The bank’s deposits also increased by 14 percent to over JD222 million, while assets reached JD374 million at the end of 2004. ABC’s Chairman, Ghazi Abdel Jawwad attributed the bank’s feats to “the steady development in its operations and services, performed by proficient cadres”. The bank’s General Assembly approved an earlier decision to raise the capital by 25 percent to JD34.5 million, and to distribute JD6.9 million in dividends. Abdel Jawwad said the ABC aims to enhance the quality of its services and expand its customer-base by increasing its financial portfolio in the capital market.

JIPA holds e-commerce event
* Under the patronage of HRH Prince Ali Bin Al Hussein, the Jordan Intellectual Property Association (JIPA) will hold a two-day conference on “E-commerce: Strategies and Policies” in Amman on April 23-24. The conference, which is funded by USAID, would tackle issues related to e-commerce, including intellectual property on the Internet, e-commerce’s security and privacy, and electronic banking. Expected participants include IT and telecom companies, banks, lawyers, academics and e-commerce operators. Besides JIPA, key speakers at the conference would also include the World Intellectual Property Organization, the International Intellectual Property Institute as well as experts from the Middle East and the US.

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