Analysis Business of Sport Qatar scores, with vital assists from Iran, Turkey and the UAE Alongside the massive investment and the 12 years of preparation, Qatar has called in more than a few favours to aid the smooth running of the World Cup. While its allies have proved keen to help, Doha has had to tiptoe carefully around the geopolitical faultlines that run through the Gulf. Turkey has sent more […] November 21, 2022
Banking & Finance Jordan says IMF-backed reforms yielding ‘best results’ Jordanian Finance Minister Mohamad Al Ississ said on Thursday Moody’s’ upgrade of the kingdom’s rating outlook to positive from stable showed that its International Monetary Fund (IMF)-backed fiscal reforms were “producing the best results”. “Our fiscal reform has shown that fair and equitable reform is not only good policy, but produces the best results as […] November 18, 2022
Economy IMF says Jordan’s economy growth quickens despite global turmoil Jordan’s growth has quickened in 2022 despite global economic turbulence, driven by strong progress in International Monetary Fund (IMF)-backed structural reforms that have cushioned the economy and strengthened macro-economic stability, the IMF said on Tuesday. Ali Abbas, who headed an IMF mission, told reporters that a post-covid recovery continued to build momentum with expected 2022 […] November 16, 2022
Jordan’s ADC signs $242m pact for logistics hub Jordan’s Aqaba Development Company (ADC) and APM Terminals (APMT), a global terminal operator, signed a $242 million memorandum of understanding to develop a regional logistics hub in Aqaba, Jordan News Agency reported. ADC chief executive Hussein Safadi said that the agreement will prepare Aqaba to handle the anticipated maritime trade and shipping increase. A training […] September 28, 2022
Tourism Jordan’s tourism revenue jumps 162% to $3.6bn Jordan’s tourism revenue rose 161.6 percent year-on-year to $3.645 billion in the first eight months of 2022, Petra, the state-owned Jordan News Agency reported. The increase was driven by a rise in the number of tourists to 3.175 million between January and August. In August, tourism revenue posted an 82.4 percent increase year-on-year to $822.4 […] September 15, 2022
Sustainability Jordan port workers protest after deaths from gas leak Workers at Jordan’s Red Sea port of Aqaba began a work stoppage on Sunday to protest poor safety precautions following the deaths of thirteen people in a chlorine gas leak accident at a major berth, unionists said. The deaths and injury of over 300 workers came after a crane loading chlorine containers onto a ship […] July 4, 2022
UK agency inks first Jordan deal to create 4,000 jobs UK Export Finance (UKEF), the government’s export credit agency, has announced its first deal in Jordan to support the largest clothes manufacturer in the Middle East and North Africa in the construction of new factories and a corporate office in Aqaba. The deal with Classic Fashion Apparel Industry, worth £66 million, will facilitate the building […] June 29, 2022
Banking & Finance Jordan gets over $1.2bn in orders for dollar bond sale Jordan has received more than $1.2 billion in orders for its sale of US dollar-denominated bonds that will mature in just over five years, a document showed on Wednesday. It revised guidance to the 8 percent area after initial price guidance earlier on Wednesday in the low 8 percent range, the investors’ note reviewed by […] June 9, 2022
Analysis Development UAE, Egypt and Jordan industrial pact will ‘unleash billions’ The partnership hopes to strengthen each country’s economic clout and competitive standing, both in the region and further afield The UAE, Egypt and Jordan’s decision to enter into an economic partnership stands out from recent announcements of bilateral deals struck between Arab countries and Western partners. The regional partnership, announced in Abu Dhabi on Sunday, […] May 31, 2022
UAE, Egypt and Jordan sign $10bn industrial power pact Abu Dhabi's ADQ to allocate $10 billion in investment for projects. Focus includes agriculture, pharmaceuticals, petrochemicals and textiles May 30, 2022
Energy Israel ramps up gas output, looks to supply Europe Israel is on track to double its natural gas production to 40 billion cubic metres and hopes to sign a framework deal with Europe this summer May 16, 2022
Agriculture Brazil plans ‘fertilizer diplomacy’ trip to secure more imports Brazil’s new agriculture minister Marcos Montes will visit Jordan, Egypt and Morocco in a tour starting this week to discuss increasing fertilizer imports from those countries. “It’s a pilgrimage that we are calling fertilizer diplomacy,” Montes said in an interview with Reuters late on Monday, adding he would be joined by private sector representatives. “We […] May 3, 2022
King Abdullah joins Biden to defuse Jerusalem tension Jordan’s King Abdullah agreed with U.S. President Joe Biden on the need to prevent a repeat of recent confrontations in Jerusalem’s Muslim holy sites that sparked concerns of wider conflict, state media said. In a phone call on Monday, Abdullah was quoted as saying the cornerstone of peace was a comprehensive Arab Israeli settlement based […] April 27, 2022
Jordan’s king agreed with U.S. Biden on need to defuse Jerusalem tension Jordan’s King Abdullah agreed with U.S. President Joe Biden on the need to prevent a repeat of recent confrontations in Jerusalem’s Muslim holy sites that sparked concerns of wider conflict, state media said. In a phone call on Monday, Abdullah was quoted as saying the cornerstone of peace was a comprehensive Arab Israeli settlement based on a two-state solution […] April 27, 2022
Agriculture EU plans to counter Russia with food diplomacy in North Africa, Middle East The EU aims to address rising wheat and fertilizer prices and expected shortages in the Balkans, North Africa and the Middle East with “food diplomacy” to counter Russia’s narrative on the impact of its Ukraine invasion, EU diplomats and officials say. Food insecurity was causing “resentment” in vulnerable countries in these regions, while Moscow was […] April 12, 2022