Business
Scene
JORDAN (Star) - * A new Jordanian-UAE investment company was established
in March at $50 million. The company aims to facilitate joint investments in the
two countries. The Abu Dhabi Chamber of Commerce and Industry approved Jordan
Investment Board's acquisition of land areas in the UAE to establish gas and oil
stations in the Gulf emirate. Earlier estimates suggest these stations would be
valued at $15 million. Many UAE businessmen show much interest in establishing
joint businesses with their Jordanian counterparts.
* The Exports and Finance Bank increased its profits last year
by 75.7 percent to JD 5 million. The Bank's assets increased by 21.5 percent to
JD 237.3 million. The operational revenues grew to JD 12.8 million last year.
The Bank's 2001 financial statement noted last year's economic and political disturbances
affected the bank's activities in different fields, however its credit risk management
remained intact. The bank provided credit facilities worth JD 133 million.
* USAID's assistance program for small-medium enterprises in
Jordan provided JD 14 million in small loans to 35 enterprises, both individual
and in-groups. Women made 60 percent of the beneficiaries. USAID programs mainly
operate through the government's Social Security Package, which aims to lessen
poverty in the Kingdom.
* The Irbid governorate is expecting to receive JD 47.6 million
in financial support for 2002. About JD 11.5 million of this is coming from the
economic and social transformation program. The government also initiated recently
a JD 25 million-Social Productivity Enhancement Program to enhance the social
development plans not only in Irbid but also around the Kingdom.
* Jordan Steel Co made JD 3.4 million in profits last year,
while its sales JD 28.8 million in 2001. For the Union Tobacco and Cigarette Factories
Co, the 2001 profits went down by 11.7 percent on 2000 to register JD 4 million.
Its sales also declined by 60 percent to JD 40 million last year.
* The International Islamic Arab Bank made JD 2.88 million
in profits last year, an 8 percent decline over 2000. The Bank's Chairman, Abdel
Hamid Shoman attributed the decline to the 11 September attacks on the US. The
Bank's assets, however, increased by 28.5 percent to more than JD 253 million.
The bank's operational profits were JD 7 million, while investment revenues JD
6.5 million.
* The government is allocating JD 5.5 million for the e-government
project. Minister of Information and Communications Technology, Dr Fawaz Zu'bi
said the project has plans to establish proper infrastructure for the e-government
strategy-aiming to function mechanisms and regulations for the IT-related policies
in all public departments. The e-government strategy is a three-year project launched
earlier this year.
* Jordan is among the 13 Arab countries agreed to establish
an inter-Arab railway to facilitate the civil and economic transport among Arab
nations. The project is still in the blue-print stage and requires cost-efficient
infrastructure to verify strong rail network among the countries of the region.
April 06, 2002
Sources :
The Star |