BANKING

IMF first review report expected in 2 monthsMarch 26, 2017

The report of the first review of the Jordanian economy under a $700-million loan Extended Fund Facility (EFF) programme with the International Monetary Fund (IMF) is expected to be issued late May or early June, according to a government official.

The visit for the first review was done late 2016. The report was not issued because Jordan was two months late in approving the fiscal measures, Minister of Finance Omar Malhas told The"...

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AFESD agrees to provide Jordan with 96.5 mln USD in loans March 21, 2017

The Arab Fund for Economic and Social Development (AFESD) on Monday agreed to provide around 96.5 million U.S. dollars in loans to Jordan for infrastructure projects, said the Ministry of Planning and International Cooperation.

Planning and International Cooperation Minister Imad Fakhoury met with the AFESD Director General and Chairman Abdullatif Youssef Al Hamad, and discussed enhancing cooperation between Jordan and the AFESD.

At"...

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Central bank raises interest rates again March 18, 2017

The Central Bank of Jordan's (CBJ) open market operations committee on Thursday hiked the main interest rate and the interest on finance policy tools by 25 basis points as of Sunday, March 19, the Jordan News Agency, Petra, reported.

The decision, the second in four weeks, was taken in line with the regional and international monetary markets' interest rates changes, to preserve the financial and monetary stability"...

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World Bank sets out 5 priorities to help JordanMarch 11, 2017

A senior World Bank official said that the bank has set out five priorities to help the Kingdom at a time when regional developments, mainly the war in Syria and the situation in Iraq, are reflecting on the Jordanian economy.

World Bank Vice President for the Middle East and North Africa Hafez Ghanem said that the priorities that he had defined following his meeting with Prime Minister Hani Mulki and a number of ministers and officials,...

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Amec Foster Wheeler: Al-Zour, Kuwait Contract WinMarch 10, 2017

Amec Foster Wheeler announced today the award of a contract by Petrochemical Industries Company K.S.C. (PIC), a subsidiary of the Kuwait Petroleum Company (KPC), for the integration project between its Olefins III, Aromatics II and ZOR Refinery in the State of Kuwait. The contract covers Front-End Engineering Design (FEED) leading to Project Management Consultancy (PMC) for the project.


The"...

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Jordan PM confirms a strong dinar and soundness of economy February 26, 2017

Jordanian Prime Minister Hanu Muli said Sunday the Jordanian dinar is strong and the situation is reassuring, the state-run Petra news agency reported.

Muli made the remarks at a workshop at the King Hussein Club in the capital Amman, saying that the Jordanian currency is stable and there are no fears.

He added that the foreign currency reserves exceed 12 billion U.S. dollars"...

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Jordan revises temporary passport fees for Gazans February 26, 2017

Jordanian Interior Minister Ghaleb Zu’bi on Thursday said the government has decided to lower the renewal fees of the two-year passports for Gazans from JD200 to JD100 and the five-year passports to JD200, the Jordan News Agency, Petra, reported.

The remark came during his meeting with the Lower House Palestine committee to discuss various issues related to Gazan residents in Jordan.

The committee’s members said they appreciate the decision, which indicates"......

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