Business Scene
JORDAN (Star) - * Investments in the free trade zones in the Kingdom increased
to JD 261 million last year. A report by the Jordan Industrial Zones Corp stated
most of the investments focused on the quality of the business environment. The
number of investments deals in the free zones increased by 10 percent to more
than 1200 contracts. Most were in the Zarqa Free Trade Zone. The capacity of investments
in these areas is around JD 2 billion. The report noted more investments are expected
from local and foreign private sectors, but are still waiting for the completion
of the infrastructure projects in these areas.
* Royal Jordanian is to launch twice-weekly flights to Kuala
Lumpur, through its decoding agreement with Malaysian Airlines. The latter will
market the flights through its agencies worldwide. The Jordanian national carrier
will also launch flights to Moscow on 6 May in agreement with Russia's Aeroflot.
RJ's CEO Samer Al Majali said the carrier is working on initiating its flights
to the Sudanese capital, Khartoum, increasing the carrier's worldwide destinations
to 48.
* The Central Bank of Jordan increased its assets in February
to JD 4.5 billion. About JD 3.2 billion are in foreign currencies while its gold
reserves stand at JD 85.3 million. The bank's liabilities increased this year
to more than JD 3 billion, two-thirds of which are local. Credit facilities witnessed
a JD 7.4 million decline this year to JD 345.4 million.
* Arab International for Education and Investment (AIEI) earned
JD 23 million. The company made JD 7 million in profits-about one-sixth of its
2001 budget estimated at JD 44 million. The company's share-holdings almost doubled
to JD 31.6 million, enabling the company's General Assembly to issue a dividend
rate of about 20 percent. The AIEI seeks to enhance investments in the educational
sector. In 2002, the company is expected to work jointly with the Applied Science
University to establish anInternet Service Provider (ISP) facility to give students
access to the worldwide web.
* Development projects at the Aqaba Governorate in 2002 are
estimated at JD 41.8 million. The projects, conducted jointly by the Aqaba Special
Economic Zone and the Ministry of Planning, aim to improve the social and economic
infrastructure of the area.
* The merger agreement between the Rum Metal Industries Co
and the Aladdin Industries produces a new amalgamation at a JD 5 million capital.
The new firm is expected to promote metallic industries in the Kingdom. Share-holdings
were settled while reserves increased to JD 1.46 million.
* Irbid Electricity Co has JD 6.4 million allocated for development
projects for 2002. These aim to expand the company's working capacity in the northern
areas. The company will also link many of the rural areas of Irbid, Jerash and
Ajloun with the power network at JD 2 million.
* Trade volume between Jordan and Saudi Arabia stands at JD
210 million. Jordanian exports to Saudi Arabia are JD 95 million, while the Saudi
exports to Jordan increased to JD 110.5 million. Over the past three years, Jordan's
exports to that Kingdom witnessed rapid decline since 1997-the highest in the
past 10 years when Jordan exported JD 141 million worth of goods to the Saudis.
* The Printing and Packaging Co made a net profit of 951.4
thousand in 2001 compared to the figure before that year which is the region of
JD 485,000. Company sales in the first quarter of 2002 increased by 38 percent.
April 13, 2002
Sources :
The Star |