Category: News

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…

Renewable green energy

Jordan lagging behind on ‘green’ economic performance – report

Jordan achieved an underwhelming ranking on a global index that measures the green economic performance of countries and how experts assess that performance. Jordan, which made it onto the list for the first time, was rated 60 out of 80…

souq.com

Souq.com Plans IPO at $1.2 Billion Value – Report

Souq.com, the region’s biggest online retailer, is reportedly planning to sell around a 30 percent stake that would give the company a valuation of at least $1.2 billion. The Dubai-based company has appointed Goldman Sachs to find potential buyers for…

Luxury Goods in Dubai

Growth Eyed for Mideast Luxury Goods Market

While luxury goods sales remain sluggish in traditionally strong markets like Russia and China, demand for brands like Louis Vuitton and Bulgari look set to grow in the Middle East despite regional unrest, according to a recent Deloitte report. The…