Business Club

Iflix, the world’s leading Subscription Video on Demand (SVoD) service for emerging markets has completed a $133 million funding round as it continues to deliver on its vision of bringing the world’s best entertainment to its audiences, the company announced.

The funding round, which attracted significant interest from both new investors and existing shareholders, was led by Hearst, one of America’s largest diversified media, information and services companies, and also included additional new investors Singapore-based EDBI and clients of DBS private bank.

Existing shareholders Evolution Media, Sky PLC, Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc. also increased their investments. iflix Co-founder and Group CEO Mark Britt said they are thrilled to welcome Hearst President and CEO Steven Swartz and Hearst Entertainment & Syndication President Neeraj Khemlani to the iflix family.

This collaboration significantly deepens their bench of experts with their longstanding partners to help drive iflix’s continuing growth.

Mayar International Schools said they will  award five full scholarships at the American University of Malta (AUM) to  their excelling students studying in both the national and international programmes.

AUM Chairman and Chairman of the Board of Directors at Mayar International Schools Hani Salah said the scholarships are “in appreciation of excellence and are to encourage our students to compete for more achievement”, as AUM opens its doors in the scholastic year 2017/2018 as an international higher education institute.

”The students of Mayar International Schools have had over the past seven years an impressive track record of excellence.

We have dedicated these scholarships to our students because we want to encourage the spirit of positive competition among them,” said Salah, who is also the chairman of Sadeen Group, the owner of both educational institutions.  Mayar International Schools’ Superintendant Nadia Kharbat said competition among the school students will be intense, as results show a history of excellence since the inception of the schools at all levels.

Over the past few years, Aqaba has been able to position itself strongly as a premier global tourist attraction. Perhaps one of the key factors that have contributed to boosting tourism in Aqaba is the Ayla project.

Ayla has effectively redefined all preconceptions of seaside living, providing a unique bouquet of sea-view apartments with a rich assortment of facilities for tourism, sports and entertainment.

“At Ayla, we have launched unconventional and innovative products that contribute – directly and indirectly – to boosting tourism in Aqaba, in addition to satisfying the needs of savvy individuals who are seeking fun and adventure,” explained Ayla’s managing director, Sahl Dudin.

Among the many attractions delivered by Ayla is the B12 Beach Club, which features a magical atmosphere replete with experiences that offer an array of water based activities for all the family to enjoy, including a floating water obstacle park that caters to children.

Royal Jordanian’s board of directors approved the reviewed financial results for the first six months of this year during its session held on Saturday. The results showed the company registered a net loss of JD26.3 million, driven by seasonality and a decline in the average fare.

The airline also achieved a net profit of JD1.5 million during the month of June, compared to a JD2.1 million net loss in the same month of 2016.

June’s net profit was logged despite the 27 per cent increase in the fuel bill paid by the company for this month, from JD8.3 million in June 2016 to JD10.5 million in June this year. The seat load factor increased by 3.9 points to 64.1 per cent in June 2017, against 60.2 per cent for June 2016.

RJ transported 253,000 passengers onboard its planes during this month compared to 224,000 passengers in June last year, a 13 per cent increase. Commenting on the results, RJ’s President/CEO Stefan Pichler expressed satisfaction with the net profit recorded in June, which the company sees as a start into the turnaround.

“We have a lot of homework to do to transform RJ into a sustainable profitable company for our shareholders, a consumer champion for all our guests and an employer of choice for all people in Jordan.

While we are working on our strategic turnaround plan, we now focus on early wins in the commercial area, like load factor and yield improvement” he said.  “June worked out pretty well and I am confident that we will make up for the severe losses suffered in the first 5 months of operations in 2017,” Pichler added.

Jordan’s efforts to create an investor-friendly environment while still generating the tax revenues it needs for its annual budget, will be examined in a forthcoming anniversary report by the  research and consultancy firm Oxford Business Group (OBG).

Marking OBG’s 15th year of operations in the kingdom, The Report: Jordan 2017 will include an analysis of the country’s tax framework, which has evolved significantly in recent years, against a backdrop of rising competition from global markets.

The publication will highlight the measures implemented to stimulate local businesses and boost FDI, especially in under-developed and export-oriented sectors of the economy.

EY has signed a memorandum of understanding (MoU) with OBG for the Group’s 2017 report on the country. Under the MoU, the professional services firm will team up once again with OBG to contribute to the Tax chapter of The Report: Jordan 2017.

RJ successfully attained the latest version of the PCI Data Security Standard version 3.2 (PCI DSS V3.2) Compliance Certification and Attestation of Compliance for the second year, according to an RJ statement released on Monday.

The accreditation was granted to RJ in recognition of its adherence to guidelines that safeguard consumers’ credit and debit card transactions through added reliability and security measures, the statement said.

RJ President/CEO Stefan Pichler received the certification from Ramzi Al Sunna, co-founder of ScanWave CTS, at RJ’s head office in Amman.

Present at the ceremony were officials from both companies and RJ’s technical team that worked on the certification. ScanWave CTS is a UK-based vulnerability management services provider and leader in PCI DSS compliancy.

Jessica Kahawaty, a Lebanese-Australian model with a background in human rights law, has recently visited the Zaatari Syrian refugee camp, as part of Louis Vuitton’s efforts to raise awareness and funds for Syrian children, facing the world’s most challenging humanitarian crisis, according to a statement of the UNICEF. 

The Jordan-based Zaatari Refugee Camp with a population of 79,000 Syrian refugees is about 12 km from the Syrian border.

“This visit to Zaatari Refugee Camp was extremely powerful — heartbreaking, but full of hope.  There is an incredible generation of children who believe in education and making a difference…,” Kahawaty was quoted in the statement as saying. 

Since January 2016, the Louis Vuitton for UNICEF partnership has raised more than $2.5m to help bring children life-saving humanitarian support,.

British Airways announced plans to give its customers a great night’s sleep in the sky through a partnership with the luxury life style brand, The White Company, according to a statement of British Airways.

The British retailer will supply bedding and amenity kits in Club World as part of the airline’s £400m customer investment plan, with a focus on excellence in premium cabins.

Later this year, customers travelling in Club World between Heathrow and New York JFK will be given a new elegant day cushion which will double up as a fantastic lumbar support when working or relaxing on board.  Customers will also be given a super-soft woven blanket. 

Alex Cruz, British Airways’ chairman and CEO, said: “Our investment in Club World has started and we’re kicking off by helping our customers sleep even better in the skies.

Partnering with The White Company, renowned for quality and style, is the first step in a multi-million pound investment for our premium customers.” Chrissie Rucker MBE, founder of The White Company, said:“We are passionate about creating the best night’s sleep for all our customers and I'm truly delighted to now be working with British Airways to 'sleep well in the sky'. 

I hope you love the result as much as we do.” The White Company opened its first international flagship store in New York last month. 

Mövenpick Hotels & Resorts has recently renewed its long-term partnership with Right4Children, giving more disadvantaged young people access to hospitality training and job prospects in the Middle East, according to a statement of the hospitality firm.

The firm and Nepal-based NGO have agreed to run their Mövenpick hospitality programme for at least another year, offering underprivileged youngsters and their families the chance to boost their living standards through skills creation and career opportunities, the statement said.

Mövenpick and Right4Children launched the initiative in 2009 and since then, 132 youngsters have completed the six-month training programme, on one of three tailor-made courses — housekeeping, culinary services and food and beverage services. Of the graduates, 85 per cent have secured job placements at a Mövenpick property in the Middle East.

Korea Trade-Investment Promotion Agency (KOTRA), the commercial mission of the Korean Embassy in Jordan, will relocate its offices to Campbell Gray Living Amman (CGL) in the New Abdali during end of September. 

Tony El Khal, general manager of Al Seraje Real Estate Development P.S.C., the developing company of CGL, said: “We are honoured that KOTRA has chosen to relocate its offices to Campbell Gray Living’s building.

The move reflects our vision to create a sustainable investment environment that empowers businesses for further development and prosperity.

Chul Noh, director general of KOTRA, said “Campbell Gray Living is one of the most iconic and prominent buildings at the New Abdali, which is considered the business hub of Jordan. 

Relocating KOTRA’s offices to such a destination will not only create a plethora of potential business opportunities between Korean business investors with their counterparts in the region, but will also enable us to share our culture as well.”

With sophisticated contemporary-classic designs that intertwine with opulence, Al Seraje’s vision for Amman’s new downtown delivers unprecedented standards of luxury. The development offers investment opportunities in different sectors.