Search Site

Trends banner

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Iraq and Jordan to set up economic city on common border

A crossing at Iraq-Jordan border.
  • The Iraqi-Jordanian Company for Industry, which will carry out the project, urged international companies to make a bid
  • The economic city is expected to boost trade cooperation between the two countries and achieve integration in many fields

Amman, Jordan–Jordan and Iraq announced on Sunday an international tender to set up a joint economic city on the two countries’ common border.

In a statement, Jordanian Ministry of Industry and Trade said the tender includes preparing studies, designs, engineering plans, developing, financing, implementing, managing, investing, promoting and operating the economic city, as well as sustaining and maintaining its facilities.

The statement added that the Iraqi-Jordanian Company for Industry, which will carry out the project, called on interested international parties specialized in the construction of economic cities, development zones and free zones to bid.

According to the statement, Jordanian Minister of Industry and Trade Yousef Al Shamali and Iraqi Minister of Industry and Minerals Khaled Battal Al Najm noted that the project is important to enhance economic cooperation between the two countries and achieve integration in many fields.

The two ministers said that they reached an advanced stage to start implementing this strategic project, which will strongly boost economic cooperation and attract Arab and foreign investments.