Category: News & Views

Wamda Capital Reaches Funding Milestone

Tech Growth Fund Wamda Capital has raised $60 million in the first round of funding of a $75 million Wamda MENA Ventures I fund, and invested 40 percent of that so far. The venture capital firm, which is based in…

Air Arabia Eyes Growth in 2016

Last year Sharjah-based low-cost carrier Air Arabia made Amman its fifth hub through a 49 percent acquisition of Petra Airlines, which was then relaunched as Air Arabia Jordan. On the sidelines of the recent Arab Aviation and Media Summit in…

Del Monte Eyes Jordanian Farms

Del Monte, the giant American producer and distributor of canned fruits and vegetables, said it’s looking to buy farms in Jordan. In a statement, Del Monte said it was planning to acquire farms in Jordan, as well as neighboring Saudi…

Struggling Yahoo to End Middle East Presence in April

Yahoo, the troubled Internet giant that famously bought Jordan’s Maktoob, said it plans to close its last remaining Middle Eastern office in April. In a statement, Yahoo said the decision to shutter its Dubai office came as part of the…

Several International Brands Planning to Pull Out of Jordan

Several international clothing brands are preparing to leave Jordan due to falling sales in a retail market increasingly weighed down by rising taxes and reduced disposable income among consumers, the head of the Textile and Ready-Made Garments Syndicate said. While…

U.S. Seeking New Markets for Jordan’s Private Sector

US Ambassador to Jordan Alice G. Wells said she’s striving to open up new international markets for American and Jordanian firms based in the Kingdom. In a bid to encourage greater joint economic development, Wells said her government was working…

Royal Jordanian's Crown Lounge at Queen Alia International Airport

RJ’s QAIA Lounge Voted Best in Africa and Middle East

In a sign the Kingdom’s aviation sector is successfully wooing coveted frequent flyers, Royal Jordanian’s Crown lounge at Queen Alia International Airport (QAIA) was named the best in Africa and the Middle East at the Priority Pass Airport Lounge of…

Independently-Owned Service Stations Adopt Manaseer Express Sub Brand

In a sign of continuing consolidation in Jordan’s low margin fuel supply market, 10 independently-owned service stations are adopting Manaseer’s new sub brand, Manaseer Express. Under the deal, the service stations, which are already supplied with gasoline by Manaseer Oil…

Samsung Bids to Boost B2B Sales

In a marked shift away from its usual focus on consumer electronics, Samsung organized an event in Amman last month to show off its latest range of business products. Anood Haddad, the tech giant’s MENA regional marketing manager, said the…

Oasis500 Reaches For the Stars with New Tech Fund

Oasis500 has launched a new multimillion dinar venture fund which seeks to develop businesses based around space technologies. The startup accelerator’s Jordan Space Ventures Fund will provide funding and mentorship to entrepreneurs using technologies like satellite communication systems to tackle…