Economy Jordan most active gold trader as Mena states adjust holdings Middle Eastern states are upping their trade in gold as price shifts create opportunity. Qatar, Egypt and Jordan have all bought sizeable amounts of gold in recent months, according to data from the World Gold Council and official announcements. Qatar and Egypt increased their holdings by 1.2 and 0.5 tonnes respectively, March data from the […] March 14, 2025
Oil & Gas Qatar to supply Syria with natural gas to ease power crisis Qatar has signed an agreement to supply natural gas to Syria via Jordan, a significant step towards addressing the war-torn nation’s energy crisis. The agreement, signed between Qatar Fund for Development (QFFD) and Jordan’s energy ministry, in collaboration with the United Nations Development Programme, will contribute to generating up to 400 megawatts of electricity daily […] March 14, 2025
Economy Jordan’s economy on growth track as tourism recovers Jordan’s economy is forecast to grow by 2.7 percent in 2025 as tourism recovers and trade with Syria and Iraq starts to rise gradually, S&P Global said. Tourism contributes an estimated 15 percent to Jordan’s GDP, with about three-quarters of it sourced from Arab visitors, including Jordanians living abroad. “We expect the number of Arab […] March 10, 2025
Economy Higher current spending widens Jordan’s fiscal gap Higher current expenditure widened Jordan’s budget deficit last year despite growth in revenues, the country’s finance ministry has reported. Total spending was JD11.6 billion ($16.4 billion) in 2024 compared with JD11 billion in 2023, an increase of 5 percent, the ministry said in its January bulletin published on its website at the weekend. Current expenditure, […] March 6, 2025
Infrastructure Water projects take priority in Jordan’s PPP pipeline Jordan is planning to launch public-private partnerships (PPP) valued at more than $1 billion this year – and that figure may soon rise to $2 billion, according to an official. Hamza Alhajaya, head of Jordan’s PPP unit, told AGBI that Jordan is already expecting to publish tenders for seven projects in 2025 worth a total […] February 26, 2025
Food & Drink Bring back smoking, say Jordan restaurateurs Bring back smoking! That is how desperate restaurateurs and cafe owners feel in Jordan after a drop in tourism last year, linked primarily to the wars in the Middle East. Among other measures, restaurateurs want the return of the shisha, the waterpipe smoking device that is popular across the Arab world, and over which smokers can […] February 21, 2025
Aviation Passenger traffic rises 13% in Jordan’s largest airport Passenger volumes at Queen Alia International Airport (QAIA), Jordan’s largest airport, recovered in January, the Jordan Times reported. Data from the airport’s operator Airport International Group (AIG) showed that QAIA received 784,992 passengers last month, a 13 percent year-on-year increase. Aircraft movements grew 5 percent year on year to 6,061 flights, but air freight traffic […] February 19, 2025
Logistics AD Ports to operate customs centre in Jordan Abu Dhabi’s AD Ports Group has won a contract to manage and operate a new customs centre in Amman, Jordan, the company said in a statement. The company aims to increase cross-border trade, reduce clearance times, and enhance supply chain efficiency at the 1.3 million sq m Al Madouneh Customs Centre, which opened last June. […] February 13, 2025
Finance Arab Bank plans 40% dividend after record 2024 profit The board of Jordan’s Arab Bank Group has proposed a dividend of 40 percent for 2024 after profit reached a record high. Net profit rose 21 percent to more than $1 billion in 2024 compared to $829.6 million in 2023. The profit rise was driven by growth across various business segments and geographic markets. Operating […] February 2, 2025
Banking & Finance Dubai’s Fintech Galaxy to test open banking in Jordan Dubai company Fintech Galaxy has become the first open banking company to receive regulatory approval in Jordan. The Central Bank of Jordan’s (CBJ) approval will allow the fintech to join the regulatory sandbox, JoRegBox, to test and deploy open banking services in the country. The JoRegBox initiative is part of the central bank’s broader plan for financial technology […] January 31, 2025
Economy EU’s $3bn to back Jordan’s economy amid challenges The European Union (EU) will provide a €3 billion ($3.13 billion) financial package to Jordan to support its growth, as it manages the impact of regional geopolitical challenges. The 2025-2027 financial package will include €640 million in grants, €1.4 billion in investments, and €1 billion in macro-financial assistance. “Jordan is a key partner for Europe in the Middle […] January 30, 2025
Trade Jordan and Qatar trade volume rises 6% in 2024 Trade between Jordan and Qatar increased by 6 percent year on year in 2024 amid growing economic ties. The total volume reached QR910 million ($250 million), up from QR860 million in 2023, the state-run Petra news agency reported, citing data released by Qatar’s planning and statistics authority. Jordan’s exports to the Gulf state include consumer and […] January 14, 2025
Retail Dubai’s Majid Al Futtaim closes Carrefour in Oman Dubai-based retail conglomerate Majid Al Futtaim has launched its new grocery retail brand HyperMax in Oman, according to reports, after closing all of its Carrefour stores in the sultanate. It follows a similar move in Jordan in November where its Carrefour franchise brand ceased operations and 34 HyperMax locations were opened across the country. Carrefour […] January 8, 2025
Economy Jordan to get $131m under IMF’s finance programme Jordan will receive $131 million from the International Monetary Fund (IMF) under its $1.2 billion extended fund facility programme. The four-year programme, approved in January 2024, remains on track, the IMF said in a statement following the completion of a second review. Jordan’s economy continues to grow amid low inflation, the fund said, adding that […] December 13, 2024
Finance US senior official in Jordan to discuss bilateral issues US undersecretary of state John Bass will arrive in Jordan on Monday to discuss a range of bilateral issues and this week’s $845 million cash transfer to support the Arab state. During meetings with senior Jordanian government officials Bass will also discuss efforts to de-escalate regional conflicts, the US Department of State said in a […] December 9, 2024
Exclusive Aviation Royal Jordanian losses mount due to conflict Royal Jordanian is likely to record a loss of $11 million for the second year running, due to a sharp drop in passengers because of the Middle East conflict. The airline was expected last year to report its first profits since the Covid pandemic, and boasted a $15 million surplus in the first nine months […] November 15, 2024
Tourism Jordan’s 2024 tourism revenue drops Jordan’s tourism revenues in the first nine months of 2024 fell by 4 percent year on year to $5.5 billion. The decline was attributed to a 7 percent drop in tourist numbers, state-run Petra reported, quoting data from the Central Bank of Jordan. Despite the overall decline, tourism income from Jordanian expatriates and Arab visitors […] October 14, 2024
Economy IMF gives Jordan access to $131m as reforms continue The International Monetary Fund (IMF) will grant Jordan access to $131 million as the country’s economic reform programme remains strong despite it facing a challenging external environment. The release of the funds remains subject to approval by the IMF’s management and executive board. “Jordan continues to show resilience and maintain macro-economic stability, despite the headwinds […] October 11, 2024
Opinion Logistics Conflict will severely disrupt Middle East logistics Air cargo is particularly hard hit by escalating conflict in the Middle East October 3, 2024
Analysis Tourism Gulf hospitality industry shrugs off war concerns Middle East hospitality veterans downplayed concerns over wider regional tensions this week, saying the industry has survived crises before and is poised to do so again. Government officials and corporate executives spoke during the Future Hospitality Summit, which is taking place in Dubai this week, just as military action intensified in Israel, Lebanon and Iran, […] October 3, 2024
Leisure & Hospitality Jordan tourism down 7% to 4.2m visitors The number of visitors to Jordan fell 7 percent year on year to 4.2 million in the first eight months of 2024, official data reveals. However, Arab visiitors did increase, up 6 percent to 2.3 million tourists over the same period last year, Jordan Times reported, citing data from ministry of tourism and antiquities. Arab […] September 22, 2024
Economy Jordan’s growth to moderate this year but pick up by 2026 Jordan’s economic growth is expected to moderate to 2.3 percent this year due to the indirect impacts of the increase in regional tensions, which have hit investment and tourism numbers. However, the growth is expected to rebound toward 3 percent by 2026-2027 as the economy adapts to the initial shock of regional instability. “Authorities’ efforts […] September 9, 2024
