Category: News

The EBRD

EBRD Could Boost Investment to 150 Million Euros This Year

The European Bank for Reconstruction and Development (EBRD) said it could invest as much as 150 million euros in Jordan in 2017, up from 120 million euros the previous year. “Last year’s target started off with 120 million euros that…

Heike Harmgart, the head of the EBRD office in Jordan

Overhaul of Financial Watchdogs Needed – Study

Jordan’s financial regulators need to undergo greater reform for the Kingdom’s capital markets to achieve their full potential, the European Bank for Reconstruction and Development (EBRD) said in a new strategy paper it produced in conjunction with the Jordan Securities…

Dead Sea Red-Dead Project

Consortiums Selected for Red-Dead Project

The Ministry of Water and Irrigation has chosen five international consortiums to carry out the first phase of a $1.1 billion conveyance project that will use water from the Red Sea to replenish the rapidly receding Dead Sea. The consortiums…

Dealmakers Event in Amman 2016

Mideast Tech Community Meets for DealMakers 2016

Endeavor Jordan held its fourth annual DealMakers event in Amman last month, once again providing some of the region’s top entrepreneurs and investors with the opportunity to meet face-to-face. The event was attended by 62 entrepreneurs, representing some of the…

Arab Bank

Jordanian Investors Poised to Buy Saudi Oger’s Stake in Arab Bank

A Jordanian consortium has lodged a bid for Saudi Oger’s 20 percent stake in the Arab Bank after Saudi Arabia’s Fawaz Alhokair family withdrew its own $1.1 billion offer, Reuters reported citing banking sources. A deal with investors led by…

Careem app

Careem Aims to Recruit 10,000 Drivers by 2018

Fast-growing ride-hailing service Careem said it’s aiming to hire 10,000 drivers in Jordan by 2018, despite encountering regulatory problems in the Kingdom. The Dubai-based startup said it also planned to hire a further 2,000 employees to operate a new regional…

Issa Murad, Chairman of the Amman Chamber of Commerce, on energy price cuts

Businesses Welcome Energy Bill Cut

The Amman Chamber of Commerce said the government’s recent decision to lower energy prices for businesses across several sectors should significantly boost their competitiveness and revenue. The chamber’s chairman, Issa Murad, welcomed the move, calling the high cost of energy…

Ayla Oasis

Jordan’s First Championship Golf Course Opens in Aqaba

The Kingdom’s first championship golf course opened in Aqaba’s multi-million dollar Ayla development last month. The developers of the 18-hole, Greg Norman-designed course are confident it will become a big attraction. “Ayla Golf Course is a major tourism enabler for…

Gas App

New App Offers On-Demand Gas Cylinders

A young Jordanian entrepreneur has created a new app that delivers gas cylinders to homes. Fifteen-year-old Fares Abu-Shehab said his Jarra app should help save families the time and effort that would otherwise be spent on searching for gas distributors…