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FINANCE & ECONOMY

'Cooperation between citizens, public institutions key to climate-resilient infrastructure'October 20, 2019

AMMAN — The Greater Amman Municipality (GAM) does its “utmost” to build a climate-resilient infrastructure, Deputy City Manager for Districts and Environmental Affairs at GAM Hosam Nejdawi said.

Climate change has clearly impacted rainfall patterns, causing heavy down pours in different areas, which has become difficult to overlook, Nejdawi told The Jordan Times on Wednesday.

To"...

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Agreement inked to attract expatriate, foreign investorsOctober 20, 2019

AMMAN — With the aim of encouraging expatriates and foreign businesspeople to invest in Jordan, a Memorandum of Understanding (MoU) was signed on Thursday between local entities.

The MoU, which was signed between the Businesspeople Association of Jordanian Expatriates (BAJE) and the Jordan Free and Development Zones Group (JFDZG), aims at boosting investment opportunities in the free trade zone areas.

It"...

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Bankruptcy in clothing sector signals urgent need for tax cuts — syndicate-October 20, 2019

AMMAN — Many clothing and footwear shops have gone bankrupt in September and October, and in response, the government should urgently reduce sales tax from 16 per cent to 8 per cent, President of the Textile and Readymade Clothes Syndicate Muneer Deyeh said on Thursday.

“Sales tax is indirect; imposed on the poor and the rich at the same rate, and 74 per cent of the government’s revenues come from this tax while only 24 per cent"...

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Jabal Hussein tactile pavement construction ‘nearing completion’October 20, 2019

AMMAN — Aiming at unifying navigational patterns for people who are blind or have a visual impairment, the Greater Amman Municipality’s (GAM) project to install tactile pavements in the Jabal Hussein neighbourhood will be completed in two weeks, according to an official.

GAM is giving special attention to raising awareness about accessibility of public spaces, Manager of Constructions and Supervision Department at GAM Sawsan Haddad told"...

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Jordan advances 6 ranks in global indicator of domestic competitionOctober 20, 2019

AMMAN — Jordan ranked 40th internationally in the domestic competition indicator of the 2019 Global Competitiveness Report issued by the World Economic Forum, Minister of Industry, Trade and Supply Tareq Hammouri said on Saturday.

In the evaluation, which included 141 countries, Jordan advanced six ranks when compared to the 2018 report, the Jordan News Agency, Petra, said, citing a ministry statement.

Hammouri"...

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Del Monte® Launches First Café in Kuwait at Terminal 4 (T4) at Kuwait International AirportOctober 20, 2019

Del Monte®, the leading provider of fresh, healthy and great-tasting food to consumers around the globe, announced the opening of its first café in Kuwait at Terminal 4 at Kuwait International Airport. The step reflects the company’s endeavor to offer healthier snacks and food on the go to airport employees and passengers transiting through Kuwait airport.

Present in the Middle East since 2007, Del Monte® F&B Store “Wholeheartedly"...

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CDIB Capital Group Appoints Mr. Angelo J.Y. Koo as Chairman to Lead Global Asset Management BusinessOctober 19, 2019

China Development Financial (“CDF”, TWSE: 2883) announced in 2H19 investor conference that its subsidiary CDIB Capital Group (“CDIB”) has achieved NT$41.1bn in AUM of its private equity funds at end-September, successfully transforming its proprietary investment business into an asset management model. Recently, the CDIB Board has appointed Mr. Angelo J.Y. Koo as Chairman to lead CDIB towards a global asset management brand. CDIB has been focused on expanding global investment portfolio, the newly launched “CDIB Intelligence Partners Fund” as an example. On a projected scale of up to US$75mn, the fund is actively seeking institutional investors in telecom, retail, technology and financial service sectors, targeting at global AI-related investment opportunities. Effective since October 1st, the CDIB Board has appointed Mr. Angelo J.Y. Koo as Chairman succeeding Mr. Chia-Juch Chang, who remains as the Chairman of CDF. Prior to his appointment, Mr. Koo held the roles of President and CEO of CDF, and Chairman of China Development Industrial......

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Chinese tech firm Huawei to Donate Equipment to AURAKOctober 19, 2019

Chinese tech giant Huawei is to donate equipment to the American University of Ras Al Khaimah (AURAK) to set up the first Huawei ICT Academy in the United Arab Emirates.

Representatives of Huawei visited the AURAK campus to initial the agreement and met the university’s President, Professor Hassan Hamdan Al Alkim.

AURAK is the first educational institution in the"...

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PTC Launches Global Event Series with FT Live to Help Industrial Enterprises Embrace Digital TransformationOctober 18, 2019

PTC (NASDAQ: PTC) today announced the launch of Digital Transformation: The New Reality World Tour, a new event program that extends the excitement of the annual PTC LiveWorx® event. The new event program features the debut of the FT-PTC Future of Industrial Innovation Global Series, produced with FT Live, the global events arm of the Financial Times. As a component of The New Reality World Tour program, this insightful series will empower leaders of industrial companies to achieve success with their digital transformation strategies. According to McKinsey & Company, more than 70% of large-scale digital transformation efforts are likely to fail due to a lack of executive sponsorship, imprecise business cases, and delayed technology implementation. The New Reality World Tour program guides stakeholders of all levels, from the C-suite to the frontline worker, through these potential hurdles, enabling industrial enterprises to succeed with digital transformation. “The New Reality World Tour program will leverage PTC’s 30-year heritage of helping industrial......

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Andersen Global Expands in India With Membership of Nangia Andersen LLPOctober 18, 2019

Andersen Global continues to expand its footprint in the East, announcing the addition of a new member firm in India, Nangia Andersen LLP.

Andersen Global debuted in India over a year ago when Nangia Advisors LLP signed a collaborating agreement with the international association. The firm, one of the largest in India, has 350+ professionals in numerous office locations throughout the country, including Noida, New Delhi, Mumbai, Gurugram, Bengaluru,"...

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