Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...Business Markets
GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...Business
easyJet H1 loss $382m
Aviation sector is flying high after a tumultuous periodThe carrier added that revenues soared 80 percent to £2.7 billion ($3.36bn) on higher ticket prices and increased capacity.
Costs, however, leapt 52 percent to £3.1 billion ($3.85bn) on a "significantly" increased jet fuel bill and "industry-wide" inflationary pressures.
Abu Dhabi court convicts 13 Indian nationals of money laundering
The convicts were found guilty of engaging in economic activity using the provision of credit facilities through points of sale...The court also ordered confiscation of the seized funds and deportation of the convicted persons from the country once they serve their sentences.
The seven companies involved in these crimes were fined AED10 million each by an Abu Dhabi court that has a jurisdiction over money laundering and tax evasion offences,
Saudi German Health Q1 profit $13.33m
The company achieved a 145 percent growth compared to Q1 2022.SGH generated total revenues of SAR628 million in Q1 2023, the highest the group has ever achieved in a single quarter.
On a group level, the group served a total of 21,000 inpatients and 495,000 outpatients in Q1 2023 and four new facilities were added to the network.
Aldar raises US$500mn
The 10-year sukuk was priced with a 4.875% coupon rate.The issuance was oversubscribed, drawing investors from the region and beyond who placed orders to the tune of $2.3 billion
The proceeds from the sukuk will be utilized in accordance with Aldar’s Green Finance Framework, which governs investment in sustainable projects
Aramco appoints two Presidents
The new appointments meant for upstream and downstream business.Nasir K. Al-Naimi, who has been apponted as President of its Upstream business, has held the position of Upstream Executive Vice President since April 1, 2021.
Mohammed Y. Al Qahtani, President of its Downstream business, has served as Aramco’s Downstream Executive Vice President since September 13, 2020.
Lebanon’s ‘Village of Roses’ perfumes Middle East air
The oil derived from the famed Damask rose--named after the ancient city of Damascus located just across the mountain range...After a morning collecting roses, the Qsarnaba workers drop their fragrant bundles at a warehouse in the village where they are paid based on their harvest
At the village facility carpeted with pink petals, Zahraa Sayed Ahmed buys the raw materials to produce her rose water, syrup, tea and jam
Iran and Russia sign customs agreement to boost trade volume
Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a...The Iranian minister said that a new roadmap for expanding cooperation between the two countries will be achieved with the signing of the agreement
The head of the Russian delegation said that his country's goal was to develop the transit capacity and to boost cooperation in order to increase trade
9% corporate tax to be effective in UAE in two weeks
The move aims to foster compliance and business activity, with special exemptions for Free Zone transactions and small enterprises.Individuals can now be classified as a business if their income stream surpasses a specified amount, or if their held assets exceed a certain value
UAE employees drawing income from a singular source or salary payment need not be concerned, as salaries will continue to remain exempt from income tax
9% corporate tax takes effect in UAE from June 1
The move aims to foster compliance and business activity, with special exemptions for Free Zone transactions and small enterprises.Individuals can now be classified as a business if their income stream surpasses a specified amount, or if their held assets exceed a certain value
UAE employees drawing income from a singular source or salary payment need not be concerned, as salaries will continue to remain exempt from income tax
IMF lauds Jordan for monetary policy ensuring macroeconomic stability
Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic...The IMF said that the kingdom's program supported by the fund is "still on the right track" with targets bolstered by strong performance on structural benchmarks
It observed that the economic recovery from the COVID-19 pandemic is ongoing in Jordan, expecting GDP growth to reach about 2.6 per cent in 2023
