Category: News

Regional Online Transactions Up 22 Percent in 2016 – Payfort

The Middle East saw an overall 22 percent increase in online transactions during 2016, according to a new report from online payment service PayFort. The fourth State of Payments in the Arab World report found growth was strongest in Saudi…

The IMF on Lifting Subsidies on Bread

IMF Opposes Lifting Bread Subsidies

The International Monetary Fund (IMF) said it doesn’t recommend lifting subsidies on bread in Jordan, a controversial step the government is considering in an effort to balance its budget. “The IMF does not recommend lifting bread subsidies and does not…

Climate Change to Damage Low-Income Economies – Report

Climate change will cause serious long-term damage to the economies of low-income countries, according to new research published in the IMF’s latest World Economic Outlook (WEO). The evidence for rapid climate change is compelling and estimates suggest a 1°C increase…

Altibbi Health Platform Wins $6.5 Million Funding

Altibbi, the Amman-based health consultation platform, has raised $6.5 million in a new round of funding led by DASH Ventures and Middle East Venture Partners, along with strategic investors TAMM, RIMCO Investments, Endeavor’s Catalyst Fund and other undisclosed investors. The…

Job Creation Leaps 50 percent in H1

The number of jobs created during the first half of 2016 increased by 50 percent compared to the same period the previous year, according to recent figures by the Department of Statistics. The DoS said 26,000 jobs were created during…

Embrace Online Education- Edraak

Calls for the greater adoption of digital learning methods were made during a regional conference recently organized by Edraak, the not-for-profit online education platform. “The idea is that instead of focusing on the transfer of knowledge in the classroom which…

Three- Quarters of Jordanians Not Banked- Report

Around 75 percent of Jordanians above the age of 15 still don’t have bank accounts, according to a new report from the Jordan Strategy Forum (JSF). The report from the economic think tank, which examined the state of financial inclusion…

Arab Potash Corp

Canada’s PotashCorp Looks to Sell Stake in Jordan’s APC

Canadian PotashCorp is looking for a buyer of its shares in Arab Potash Company (APC), which it is forced to sell as part of a merger agreement, said the company’s President and CEO Brent Heimann. Last year, Potash Corp and…

Soft Opening for Fairmont Amman

Fairmont Amman Hotel is now welcoming guests after its soft-opening earlier in the summer. The city’s latest luxury hotel has 16 floors, 317 rooms and suites, nine meeting rooms and one ballroom. It also has a spa and health club,…

Jordan Slips Down Global Competitiveness Table

Although its score remained unchanged, Jordan slipped from 63 to 65 in the newly published World Economic Forum’s Global Competitiveness Index (GCI) report. The report said Jordan benefited from a relatively efficient institutional system and strong infrastructure, innovation, and business…