Category: News

Attarat Power Co (APCO) oil shale

Attarat Secures Financing for Oil Shale Power Plant

Attarat Power Co (APCO), a Jordanian affiliate of Estonian-owned Enefit, last month said its plan to construct a $2.1 billion oil shale-fired power plant in Jordan had secured financing from a consortium of Chinese banks. The 470-megawatt plant is now…

Arab Bank CEO Nemeh Sabbagh

Central Bank Announces Development Funds to Kick-Start Economy

The Central Bank of Jordan plans to set up a series of multi-million dinar development funds designed to stimulate the economy. “The Central Bank has worked on a number of finance initiatives through funds to help out startups, small businesses,”…

Ronaldo Mouchawar, Souq.com CEO

Amazon Scoops up Souq.com

Internet giant Amazon has decided to enter the Middle East’s nascent e-commerce market by striking a deal to buy Dubai-based online retailer Souq.com. The announcement of the deal, which was reportedly worth around $650 million, ended months of speculation about…

AIG Female Leadership Conference

IDG Holds Workshop on Female Leadership

The Inspirational Development Group (IDG), a business consultancy, held a workshop for 43 women in Amman last month designed to develop female leadership skills so they are better equipped to improve their performance and face daily challenges. The two-day event…

Queen Alia International Airport (QAIA)

QAIA Hits Passenger Record in 2016

Queen Alia International Airport (QAIA) dealt with a record number of passengers during 2016. Annual passenger traffic rose 4.4 percent to just over 7.4 million, Airport International Group, the company that manages QAIA, said in a statement. Aircraft movement rose…

Jordanian entrepreneurs at the launch of an Endeavor survey

Most Jordanian Businesses Want to Relocate – Survey

Most companies in the Kingdom are considering relocating abroad, according to a new survey from Endeavor Jordan, the business mentorship group. Of the 125 companies surveyed, 72 percent said they were considering moving their headquarters abroad. Of these, over half…

Aramex Posts Bumper Results

Aramex reported that its full-year profit for 2016 surged 37 percent to JD82.4 million, fuelled largely by the growing popularity of e-commerce and a string of recent investments. The Dubai-based logistics giant, whose revenues also leapt 16 percent to JD838.7…

Careem

Careem adds Mumayaz to its Fleet

In a sign that ride-haling apps might soon be officially licensed, Careem announced last month that its users will now be able to book cars belonging to Al Mumayaz taxis. “Careem is a technology platform that is available for everyone…

Microsoft Jordan Country Manager Hussein Malhas

Microsoft Opens EMEA Support Hub in Jordan

Microsoft opened a major new support center in Jordan last month to serve clients across Europe, the Middle East, and Africa. The global Customer Service and Support Hub is staffed by a team of more than 70 Jordanians fluent in…

Unemployment in Jordan not expected to fall -ILO

No fall in Jordan’s Unemployment Rate Expected in 2017 – ILO

Unemployment in Jordan and other Arab countries weighed down by the region’s twin security and refugee challenges will remain stuck at around 15 percent this year, the International Labour Organization (ILO) said in a new report “The unemployment rate for…