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FINANCE & ECONOMY

JOPT registers JD54 million net profits in 2019 February 17, 2020

Amman, Feb. 16 (Petra)-The Jordan Petroleum Refinery Company (JOPT) recorded net profits of JD53.9 million in 2019, compared to JD42.7 million during the same period in 2018, according to its disclosure data posted on Amman Stock Exchange (ASE) website.

The JOPT's financial relationship with the government has ended since May 2018, which set a ceiling for the company's profit by JD15 million annually, after reducing the cost of the Indian cylinders, its disclosure said.

The company has been"...

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Phosphate Company's profit at JOD43 millionFebruary 17, 2020

Amman, Feb. 16 (Petra) -- The Phosphate Company's annual profit before tax stood JOD43 million, as opposed to JOD58. 3 million recorded in 2018.

The financial statements of the company, published on the website of the Amman Stock Exchange (ASE), showed that the profit after tax decreased to merely JOD18 million, while the profits were 47.5 million in 2018.

On the company's assets for the year 2019, it increased to a total of JOD1,162 billion, compared to 2018, which amounted to JOD1,122 billion....

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Lower House approves Senate's amendments to Public-Private Partnership LawFebruary 17, 2020

AMMAN — The Lower House, during its Sunday session headed by First Deputy Speaker Nassar Qaisi, approved the Senate’s amendments to the Public-Private Partnership Law.

Head of the Lower House’s Economic and Investment Committee Khair Abu Saelik said that the Senate’s amendments “do not fundamentally affect the law and are in line with the Lower House’s decision”, the Jordan News Agency, Petra reported.

"...

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ACC urges closer trade partnership with IndiaFebruary 16, 2020

Amman, Feb. 15 (Petra) -- The Amman Chamber of Commerce (ACC) on Saturday called for a closer and deeper trade relationship between Jordan and India, especially between the private sectors in both countries.

During a meeting with Indian Ambassador to the Kingdom Anwar Halim, ACC President Khalil al-Haj Tawfiq said Jordan's trade sector wants to establish new partnerships with India and upgrade cooperation with a country that is considered one of the world's largest economies and Jordan's fourth top"...

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New platform equips industries for reaching international export marketsFebruary 16, 2020

AMMAN — Director of the Industrial Affairs Department at the Amman Chamber of Industry Fadel Labadi on Saturday stressed the importance of the chamber’s move to join a project titled “Quality Infrastructure for the Promotion of Trade and Consumer Protection in the Middle East”.

Labadi was speaking at a ceremony launching a platform offering information on the technical requirements for exporting to a number of international"...

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'Q4 2019 saw positive shift in Jordan consumer sentiment'February 16, 2020

AMMAN — Ipsos, a global market research company, has recorded an improvement in citizens’ future outlook on the country’s economy and their own financial situations, resulting in a three-point increase in the company’s Jordanian Consumer Sentiment Index (JCSI) Q4 2019, reaching its highest levels last year.

According to a statement by Ipsos, the index showed that Jordan witnessed a “diffusion of negativity” during"...

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Export technical information portal goes onlineFebruary 16, 2020

Amman, Feb. 15 (Petra) -- The Amman Chamber of Industry (ACI) on Saturday launched an online platform intended to provide exporters with information regarding technical controls and rules needed to be met for export eligibility to foreign markets.

The development and roll-out of the platform is part of the Quality Infrastructure for the Promotion of Trade and Consumer Protection, funded by Germany's Federal Ministry for Economic Cooperation and Development.

Director of the Industrial Development"...

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Jordan’s Tamil expatriates remember home, heritage at harvest festival celebrationFebruary 16, 2020

Commemorating an occasion to connect to their agrarian roots, expatriates from the Indian state of Tamil Nadu celebrated Pongal, their harvest festival, in Amman on Friday.

Clad in traditional attire, over 400 community members gathered at the Generations for Peace auditorium at Sports City, which was decked with cultural themes to mark the occasion, according to organisers.

In"...

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APC 2019 net profits up 21pct at JOD152mlnFebruary 16, 2020

Amman, Feb. 15 (Petra) -- The Arab Potash Company (APC) posted a net post-tax, provisions and royalties, profit of JOD152 million in 2019, signaling a 21-percent jump year-on-year. In 2019, the company's net profit stood at JD125 million.

APC Board Chairman, Jamal Sarayrah, said that the company has achieved tangible improvement in terms of production costs, noting that the per-ton production cost declined by 10 percent, adding that the company managed during 2019 to access new markets, namely Brazil. In"...

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ACOR mobilizes digital tools to preserve Jordan's visual heritageFebruary 13, 2020

Amman, Feb. 12 (Petra)-Assistant Director of American Center of Oriental Research (ACOR), Jack Green, said the Center's photo archiving project reflects the Arab region's social, historical, and economic status quo, which documents the 'remarkable' change over 80 years, with over 25 thousand archived.

In a lecture he delivered , titled 'The ACOR Photo Archive: Mobilizing Digital Tools to Preserve Visual Heritage,' Green said the Center’s library contains many rare photos in black"...

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