Category: News

Batelco Cancels Planned Umniah Sale

Bahrain’s Batelco has cancelled its planned sale of Umniah, citing market conditions. “We’re going to terminate the sale process. It’s not an optimal time to sell, it’s an optimal time to buy. Prices are reducing, the appetite of so many…

Al-Qadi Family Buys Bristol Rovers Soccer Club

Jordan’s Al-Qadi family, the business tycoons and founders of the Arab Jordan Investment Bank (AJIB), has bought a 92 stake in England’s Bristol Rovers soccer club for an undisclosed sum. The new president of the 133-year-old, Division Two club will…

Batelco Receives Bids for Umniah

Bahrain’s Batelco said it has received bids to buy Umniah, ending months of speculation surrounding the possible sale of Jordan’s third biggest telecom operator. “After a detailed review of the asset by Batelco and its financial advisor, it was decided…

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…