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French Version

Business Scene

Jordan, Iraq discuss trade
* President of Chamber of Commerce Haydar Murad discussed on Saturday August 13 with Iraqi Ambassador to Amman Ata Abdul Wahab means of enhancing and developing trade and economic relations between the two counties and the role of the private sector in strengthening such a cooperation. During the meeting, the two sides stressed the necessity of enhancing the trade exchanges and of establishing joint investments. Murad affirmed Jordan’s keenness to the restoration of peace and security in Iraq to play an active role on the regional and the international levels. He also affirmed the Chamber’s readiness to present all facilities to the Iraqi businessmen and stakeholders, pointing that the chamber has signed a protocol of cooperation with the Iraqi union in addition to many trade agreements. For his part, the Ambassador praised the bilateral cooperation, expressing thanks for Jordan Chamber of Commerce over its cooperation with the Iraqi side and over the facilities it presents for the Iraqi businessmen and investors. Abdul Wahab called for exerting more efforts to support the Iraqi people in the current bad conditions.

WB loans to Jordan
*The Ministry of Finance and the Ministry of Planning and International Cooperation are assessing the required financing for projects to be covered under the World Bank Loan Strategy for Jordan during 2006-2009. Relevant discussions are scheduled to be held in Amman this coming September, according to an official source, who added that the World Bank had agreed an amount of US$252 million for projects in the previous strategy which came to an end recently with the utilization of only US$150 million. The World Bank has recently reduced its loan charges and increased the ceilings to borrowing nations, Jordan included. The World Bank loans to Jordan have reached JD715 million by March 31 of this year.

Maritime lines raise capital
*The Jordanian National Maritime Lines Co. held its general meeting with the presence of a representative for the Companies’ Comptroller at the Ministry of Industry and Trade, the company’s CEO Mr Ahmad Armoush, members of the board of directors and shareholders. In an extraordinary session immediately following the ordinary meeting, the board recommended the distribution of 40 percent in free shares; the recommendation was unanimously approved. Armoush pointed out that the company’s net profits reached over JD5 million for the first half of this year, bringing up aggregate profits accruing for the year ended June 30, 2005 to JD7,992,000. Armoush outlined the company’s plans to add two new ships, which are being built presently: City of Amman and City of Aqaba. The company is also envisaging partnership with an international firm specialized in the management of ships, which would enhance the regional positioning of the company and increase revenues. JKB top Internet Bank American Global Finance magazine, which specializes in the assessment of banks and financial institutions, has nominated the Jordan Kuwait Bank (JKB) the best Internet bank in Jordan for the year 2005. Chairman of the Board and CEO of JKB, Mr Abdel Kareem Kabariti, said that JKB was the first bank to implement the online system under the name “Net Banker”, at the end of 1999. The magazine’s panel of judges viewed the various advanced electronic services that the bank offers to its customers via Internet and other means of electronic communications. This latest classification adds weight to the previous classification by the same magazine, which chose Jordan in May this year as the best bank in Jordan for the year 2005.

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