Business Club

Orange Jordan has recently announced its strategic partnership with Kawar Energy Company for supplying, installing, operating, and maintaining its renewable energy plants via the Sun Strings for Photovoltaic System.

Under the agreement, Future Sun For Renewable Energy Systems Company, owned by Kawar Energy Company, will develop three solar farm plants for Orange Jordan with a total value of $53 million financed by the European Bank for Reconstruction and Development in cooperation with the Clean Technology Fund, Jordan Kuwait Bank and Arab Jordan Investment Bank/Qatar.

The announcement was made in the presence of Orange Jordan’s CEO, Thierry Marigny, president of Kawar Group and chairman of the Future Sun For Renewable Energy Systems Company and Kawar energy, Karim Kawar, CEO of Kawar Energy Company, Hanna Zaghloul, deputy chief executive officer, and chief financial and strategy officer at Orange Jordan, Raslan Deiranieh. 

The leadership and creativity scene took to the stage during Bank al Etihad’s 6th annual SME Awards 2019. The final ceremony was held at King Hussein Business Park main theatre on Tuesday October 22, 2019.

Bank al Etihad’s Chairman Isam Salfiti and CEO Nadia Al Saeed awarded Jordan’s promising winners in the following categories: Jabal Amman Publishers as the Best SME Award with a prize of JD25,000, Baraka Destinations as the Best Business Woman of the Year with a prize of JD25,000 , and WashyWash as the Best Startup with a prize of JD10,000.

The ceremony was attended by participants from the entrepreneurial ecosystem in Jordan. Launched in 2014, Bank al Etihad’s SME Awards has so far embraced and nurtured 18 winners who were also a part of this year’s final award ceremony. 

Orange Jordan recently announced its strategic partnership with Kawar Energy Company for supplying, installing, operating and maintaining its renewable energy plants via the Sun Strings for Photovoltaic System.

Under the agreement, Future Sun For Renewable Energy Systems Company, owned by Kawar Energy company, will develop three solar farm plants for Orange Jordan with a total value of $53 million financed by the European Bank for Reconstruction and Development in cooperation with the Clean Technology Fund, Jordan Kuwait Bank and Arab Jordan Investment Bank/Qatar.

The announcement was made in the presence of Orange Jordan’s CEO Thierry Marigny, President of Kawar Group and chairman of the Future Sun For Renewable Energy Systems Company and Kawar energy, Karim Kawar, CEO of Kawar Energy Company, Hanna Zaghloul, Deputy Chief Executive Officer, Chief Financial and Strategy Officer at Orange Jordan Raslan Deiranieh, in addition to a number of executives from both sides along with media representatives.

Marigny said that this project falls in line within the context of Orange group’s vision towards using clean energy and preserving the environment, pointing out that as a local company with an international spirit, Orange Jordan is always keen on executing such strategic projects with positive impact on society and the environment.

With its partners, the company was able to accomplish a big part of the project and shift towards this source of energy. 

Aqaba Container  Terminal (ACT), the preferred gateway for the Levant region and beyond, has been recently nominated as finalist for the coveted Lloyd’s List South Asia, Middle East and Africa 2019 “Port Management and Infrastructure” Award.

Through constant investment and development, ACT has become the logistical and economic backbone of the Aqaba Special Economic Zone Authority. Over the years, ACT developed a reputation for efficiency and transparency in its operations, thanks in part to over $300 million of investment in building the terminal capacity and improving operations over the years.

Since 2015, total throughput has grown by 7 per cent, while gross crane productivity has increased 12 per cent. ACT is operated as a joint venture between the Aqaba Development Corporation and APM Terminals; ACT serves as Jordan’s only container terminal and its primary commercial port, playing a vital role in supporting the national and regional economies. 

Ramada Resort by Wyndham Dead Sea has recently organised a beach clean-up in the surrounding area of the resort at the lowest point on earth. Led by the hotel’s general manager, Beat Peter, 25 hotel employees made their way to the beach to remove trash and rubbish from the area, which was detracting from the natural beauty of the Dead Sea beaches.

The participating employees, who worked hard to keep the area beautiful for the community, expressed their gratitude and pleasure in taking part in this day, which not only gives back to the environment, and help keep the beaches clean for the coming winter season, but also solidifies team bonding and unity.

“Sustainability and community responsible initiatives are a top priority for us at Ramada Resort by Wyndham Dead Sea,” Peter commented. 

EY Jordan has announced the judges of the EY Entrepreneur Of The Year 2019 Jordan, which is taking place this year under the globally-aligned theme of “The Unstoppables”.

The annual award programme is designed to celebrate the leaders and individuals who go above and beyond to better their businesses, their communities and the world around them.

The independent judging panel — chaired by serial entrepreneur and social changemaker Maher Kaddoura-consists of prominent figures within the entrepreneurial scene.

These include BasemSalfiti, a board member at Bank Al Etihad with extensive experience in the financial and technology sectors; Dureid Mahasneh, chairman of EDAMA Association and CEO of Tawfiq Gargour Shipping Company; Fahad Al Jasem, CEO of Zain Jordan and a telecommunications veteran; and Randa Sadik, currently Deputy CEO at the Arab Bank.

Marji’ Publications honoured some of its clients and experts at a ceremony that was held yesterday, marking Family Flavours’ and Nakahat Ailiyeh anniversary celebrations. “We are delighted today to celebrate with our experts and partners, renewing our partnership and continuing with our mission to deliver credible information related to parenting and health”, said Hind-Lara Mango, publisher and managing director of Al Marji’ Publications-publishers of both magazines.

Princess Rajwa Ali Hashimi presented awards to Al Marji’ Publications’ partners Societe Generale de Banque, The Group, The Royal Health Awareness Society, The Children’s Museum Jordan, Mövenpick Resort & Spa, Hayat FM and Ro’ya TV in appreciation of their support.

Jordan Deposit Insurance Corporation (JODIC) released its 2018 annual report, which highlights the corporation’s key achievements and its financial results during the year.

The report reflected the main indicators of the development of deposits and depositors in the banking system; 75.8 per cent of its deposits denominated in the local currency.

Also, the annual report demonstrated JODIC’s activities at the regional and international levels, illustrating its effective role through participating in the committees and events that are relevant to the deposit insurance industry.

As for the financial performance for 2018, JODIC’s financial statements disclosed an increase of JD83.5 million in total assets compared to 2017 to reach JD777.8 million by the end of 2018.

JODIC’s investment portfolio composed 97.8 per cent of those assets, and the return of investment amounted to JD36.4 million with a growth rate of 18.4 per cent compared to a year earlier. The report reflected the Corporation’s financial soundness through disclosing the indicators of the reserves adequacy, as JODIC’s reserves amounted to JD774.5 by the end of 2018. 

In a ceremony held recently, Luminus ShamalStart inaugurated the 11th wave of Business Accelerator programme. Applications were opened in June and 255 innovative business ideas were received of which 32 teams were interviewed and 12 of them made it to the semi-final stage and received intensive Entrepreneurship Boot Camp training.

The selected teams showcased their innovative ideas before an external committee of jury members. Luminus ShamalStart Project Manager, Ibrahim Faza’ said, “… LuminusShamalStart plans to embrace and support 30 startups in the next 3 years in the manufacturing field in order to assist them succeed, grow and network them with the investors and financiers.” Wave 11 selected startups are supported by The One Foundation, Ireland. Through this programme, Luminus ShamalStart focuses primarily on startup companies. 

The Housing Bank has announced the renewal of its annual support to the King Hussein Cancer Foundation (KHCF) during a meeting that was held last Wednesday.

The meeting was attended by HRH Princess Ghida Talal, chairperson of the King Hussein Cancer Foundation and Centre, and Abdel Elah Al Khatib, chairman of the Housing Bank.

The two parties had previously signed a partnership agreement for 2019-2020, under which the Housing Bank will provide support to several programmes and campaigns of the King Hussein Cancer Foundation, most notably the annual breast cancer awareness campaign, and the national breast cancer media competition, aimed at raising public awareness about breast cancer in Jordan.

The Housing Bank will also be the sponsor of the SIWAR Volunteer Programme and the Private School Football Championship.