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CBJ lowers interest rates on monetary policy instruments by 25 basis points

By - Dec 19,2024 - Last updated at Dec 19,2024

Bank deposits see an increase of JD2.7 billion by the end of October, reflecting a 6.1 per cent annual growth, bringing total deposits to JD46 billion (File photo)

AMMAN — The Central Bank of Jordan (CBJ) on Thursday decided to lower interest rates on all monetary policy instruments by 25 basis points, effective on Sunday.

The decision was made during the eighth and final meeting of CBJ's Open Market Operations Committee in 2024, the Jordan News Agency, Petra, reported.

The committee stressed the resilience of monetary indicators and the strength of the Jordanian dinar, which is supported by the CBJ's high foreign reserves, currently amounting to $21.1 billion, sufficient to cover the kingdom's imports of goods and services for 8.4 months. 

The inflation rate also remained stable at 1.5 per cent during the first 11 months of this year.

Bank deposits saw an increase of JD2.7 billion by the end of October, reflecting a 6.1 per cent annual growth, bringing total deposits to JD46 billion. 

Credit facilities provided by banks grew by JD1.4 billion, a 4.4 per cent annual increase, raising total facilities to JD34.8 billion. 

According to the latest economic data, expatriates' remittances grew by 3.1 per cent in the first 10 months of the year, reaching $3 billion. 

Tourism revenues amounted to $6.7 billion in the first 11 months, marking a slight decline of 3.1 per cent compared to the same period last year.

Estimates by the CBJ also showed an improvement in the trade balance, with the deficit shrinking by 5.3 per cent during the first 10 months of the year due to a significant rise in the Kingdom's exports during this period. 

The CBJ also forecast that the national economy will grow by 2.4 per cent this year, following a 2.2 per cent growth rate in the first half of the year.

The CBJ also said it would continue monitoring economic, financial, and monetary developments locally, regionally and globally and will take necessary measures to ensure the stability of monetary and financial conditions in the Kingdom, which are essential for fostering a sustainable growth environment.

Watermills, sugar industry flourished in Ayyubid, Mamluk Jordan Valley

By - Dec 19,2024 - Last updated at Dec 19,2024

A western gearing room (water powered engine room with wooden gears, used to press sugar cane) of factory at Ghor Safi (Photo courtesy of ACOR)

AMMAN — Watermills were in use in Jordan until 1970s and these structures date from the Ayyubid (1171‒1260) and Mamluk period (1260‒1516). These watermills were operating as bread mills until quite recently; however, the remnants of these mills were standing in the midst of very dense concentrations of sugar pot sherds.

"The sugar pottery, consisting of typical funnels and syrup collecting jars, dates to the Ayyubid / Mamlukperiod when the Jordan Valley was one of the centres of sugar cane cultivation," Eva Kaptijn, a post-doctoral researcher from Leiden University, said.

The cane was crushed with the aid of watermills and the resulting pulp was left to crystallise in the sugar pottery, which frequently broke when the sugar was removed, Kaptijn elaborated.

"The connection between the main canals of the early modern irrigation system, the watermills and Ayyubid / Mamluk sugar production pushes these systems back in time until at least the Ayyubid / Mamluk period," the researcher elaborated.

In the southern Jordan Valley, no surveys have been able to positively make the connection between Mamluk sugar production, watermills and the early modern irrigation system, Kaptijn added. 

"However, there is sufficient circumstantial evidence to suppose that the same principle is at work here. Until recently four watermills for grinding cereals were active in the area, two at the mouth of the Wadi Al Kafrein, one where Wadi Al Hesban enters the Ghor and another one a few hundred metres further into the Ghor," added the researcher.

The site, referred to as Mesallahah or Al Meselḥah, also contained pottery from the Hellenistic, Roman and Byzantine periods. Unfortunately, no distinction was made regarding the type of Ayyubid / Mamluk pottery, i. e. between domestic pottery and sugar production pottery, so there is no positive evidence for sugar industry. 

"There is a considerable number of Ayyubid / Mamluk remains in the region. Immediately to the west-northwest of the mill lies Shaghur / Shagwir where, according to the East Jordan Valley Survey most of the remains can be dated to the Ayyubid / Mamluk period, "Kaptijn noted.

The researcher added that Glueck noted that the site also contained mediaeval Arabic remains, though unfortunately he did not specify any sub-periods. 

The site itself is described as a natural rock outcrop with traces of quarrying and a small number of sherds. More extensive occupation seems to have existed at nearby Tell Rameh, Kaptijn continued, adding that this site, which has sometimes erroneously been identified with Biblical Beth-Haram, is located on a large natural hillock and features traces of Roman, Byzantine and especially Ayyubid /Mamluk occupation.

"The presence of a settlement in close proximity to a watermill and sugar production site is very typical for the Ayyubid / mamluk periods in the Zarqa Triangle. A small number of Byzantine and Ayyubid / Mamluk sherds was found at the northern early modern watermill, referred to as Tell Al Tahun located along the Wadi Kafrein," Kaptijn underlined. 

The researcher noted that if this mill also functioned as a watermill in the sugar industry, one would expect large quantities of sugar related pottery. 

Further remains from the Ayyubid / Mamluk period were excavated at Tell Nimrin. 

Although no traces of a watermill or other water-related features came to light here, large numbers of sugar-pot sherds were unearthed in addition to domestic Ayyubid / Mamluk pottery.

Sugar mills driven by oxen did exist during the Mamluk period. However, they were generally only used when water power was not an option. The location of Tell Nimrin at the Wadi Nimrin makes it highly likely that a watermill did exist here during the Mamluk period, Kaptijn elaborated. 

The fact that sucrose levels diminish rapidly when sugar cane is harvested, suggests that sugar production sites were most likely located in close proximity to the area where the sugar cane was grown. Sugar cane needs a lot of water and takes more than a year to mature before it can be harvested, the researcher noted.

"Hence, sugar cane can only be cultivated in the Jordan Valley, especially in its southern part, when irrigation is in place," Kaptijn concluded.

Documentation centre publishes document on occasion of Arabic language day

By - Dec 19,2024 - Last updated at Dec 19,2024

The document, dated April 10, 1938, reflects the profound care His Majesty the late King Abdullah I attached to the Arabic language (Photo courtesy of Royal Hashemite Documentation Centre)

AMMAN — The Royal Hashemite Documentation Centre has published a historical document on the occasion of the World Arabic Language Day, showcasing the "deep" commitment of His Majesty the late King Abdullah I, the founding king, to the Arabic language and his dedication to preserving it.

In a statement released on Thursday, the centre noted that the document includes an official letter issued by the president of the supreme diwan to the prime minister.

 The letter highlights certain linguistic errors found in official correspondences prepared using typewriters.

It also includes a directive to address this issue by instructing the relevant authorities to add numbered keys to the typewriters, aligning them with the specific characteristics of the Arabic language.

The letter underscores that King Abdullah I, then prince, considered this addition essential to ensuring the preservation of the Arabic language and its aesthetic integrity in official documents.

The document, dated April 10, 1938, reflects the profound care King Abdullah I attached to the Arabic language. 

This commitment has been a "cornerstone" of the Hashemite legacy in reinforcing Arabic as an integral part of the Jordanian national identity.

 

Jordanian team wins grand prize in Huawei’s regional ICT competition

By - Dec 19,2024 - Last updated at Dec 19,2024

This year, a team of students from Jordan won the grand prize for the network track (Petra photo)

AMMAN — Huawei has concluded its 2024-2025 Middle East and Central Asia (ME&CA) ICT Competition with a Regional Finals Awards Ceremony in Riyadh, coinciding with the 10th anniversary of Huawei ICT Academy in ME&CA.

The event recognised "exceptional" performance across cloud, network, computing tracks, and the innovation competition, celebrating the achievements of students and instructors from leading regional institutions.

This year, a team of students from Jordan won the grand prize for the network track, while two student teams from Lebanon secured the grand prize in the Cloud and Computing Tracks, according to the Jordan News Agency, Petra.  

In the Innovation Competition, a team from Qatar won the Grand Prize for their project "Be My Sense." The first prize category was shared among several teams: a Saudi team for their project "NABEEH," an Uzbekistan team for "Volta," and a Pakistani team for "PRISM."

Second prizes were awarded to a Kazakhstani team for "Plantos," a Jordanian team for "3asheq Huawei", an Iraqi team for "EcoGuardians," and another Saudi team for "CS2R". 

In addition to these accolades, the team behind "NABEEH" from Saudi Arabia received special recognition, winning the "Most Popular Team" award after securing the most votes from attendees.

Consultant at the Khawarizmi Institute of Computer Science Muhammad Zubair was awarded the inaugural Grand Prize for Instructors, a new category introduced this year at the Huawei ICT Competition finals.

President of Huawei ME&CA Steven Yi said: "ICT talents are the lifeblood of digital transformation. We gathered at this prestigious awarding ceremony to invest in our young people, who are an investment in our lives and future."

"We should target skilled digital talents who can solve complex industrial problems using intelligent technologies. Through initiatives like the ICT Competition, we continue to support the development of digital talent who will drive innovation in their respective nations," he added.

Yi also revealed that Huawei will officially launch "T.H.E. Gold Talent " programme in 2025, adding that this programme is an evolution of the current talent cultivation programme to meet the requirements of the AI Era. 

It aims to focus on introducing more advanced courses on AI to solve complex industrial scenarios related to the ME&CA, he said.

It also focuses on utilising advanced technologies like 5G-A, cloud, and AI-based ICT education, smart classrooms in transforming higher education, and helping universities cultivate more competitive all-around digital intelligence talent. 

The programme also targets more proactive collaboration and offers parallel HR programmes to unleash the talent’s value through jobs and interns.

During the event, a series of awards were presented to partners, instructors and students. 

King Saud University, the University of Bahrain, Bahrain Polytechnic, and Khawarizmi Institute of Science and Technology received the "Best Partner Award" among others recognised and appreciated for their continuous efforts and innovations in driving digital transformation.

This year's Huawei ICT Competition saw the participation of 31,000 students from 640 universities and colleges across 19 countries in the region.

The competition featured 290 participants in the Innovation Track and 30,900 participants in Practice Competitions, competing across multiple tracks, including Cloud, Network, and Computing. Participants underwent comprehensive assessment through written exams and hands-on lab work, while the innovation track featured both online and onsite defence rounds.

It has also garnered support and endorsement from UNESCO, along with over 40 regional ministries, operators, and industry partners.

HCD, PDTRA sign MoU to enhance accessibility for persons with disabilities to Petra archaeological sites

By - Dec 19,2024 - Last updated at Dec 19,2024

The memorandum outlines a joint plan to improve accessibility by upgrading environmental and engineering infrastructure at sites and facilities (Petra photo)

AMMAN — HH Prince Mired Bin Raad, chief chamberlain and president of the Higher Council for the Rights of Persons with Disabilities (HCD), on Thursday signed a memorandum of understanding (MoU) with Chief Commissioner of the Petra Development and Tourism Region Authority (PDTRA) Fares Breizat.

The agreement aims to enhance accessibility for persons with disabilities to tourism facilities and archaeological sites within PDTRA, the Jordan News Agency, Petra, reported.

The memorandum outlines a joint plan to improve accessibility by upgrading environmental and engineering infrastructure at sites and facilities, in line with building codes for persons with disabilities.

It also includes raising awareness among engineers and staff, training employees in the PDTRA on rights-based approaches for interacting with persons with disabilities, and implementing measures to facilitate their right to visit tourist sites.

A key focus of the agreement is promoting awareness of the disability identification card issued by the council, which specifies the type and degree of disability based on assessments by specialised medical committees. 

The MoU also stipulates coordination to form committees in PDTRA to facilitate access for persons with disabilities to tourist sites in southern Jordan.

The memorandum further addresses expanding economic empowerment opportunities for persons with disabilities by training employers and tourism establishments to increase their employment rates.

 The agreement also aims to integrate individuals with disabilities into the workforce and collaborate with the Vocational Training Corporation in Petra to include students with disabilities in vocational training programmes.

 

JPF, Al Ghad agency launch strategic partnership to enhance advertising reach in Jordan

By - Dec 19,2024 - Last updated at Dec 19,2024

The Jordan Press Foundation (JPF) on Thursday announces a strategic partnership with Al Ghad Advertising Agency, aimed at boosting the advertising sector and expanding cooperation across both print and digital media platforms (JPF photo)

AMMAN — The Jordan Press Foundation (JPF)/Al Rai, the Arabic sister publication of The Jordan Times, on Thursday announced a strategic partnership with Al Ghad Advertising Agency, aimed at boosting the advertising sector and expanding cooperation across both print and digital media platforms.

The agreement aims to deliver comprehensive advertising solutions tailored to clients’ needs while staying in tune with the latest trends in marketing and communications.

Director General of Al Rai Hyam Karaki highlighted the significance of the partnership in reinforcing the foundation’s leadership in the media and advertising industries. 

She noted that the partnership with Al Ghad would enable the delivery of innovative services across print and digital platforms, broadening the reach and impact of advertising campaigns.

Director General of Al Ghad Advertising Agency Hashim Majali welcomed the agreement as a significant milestone in the integration of advertising and media in Jordan. 

He also highlighted that the partnership would provide customised advertising solutions that would enhance clients' visibility and market presence.

As part of the agreement, Al Rai will offer premium advertising space in its print editions and exclusive advertising packages on its website, which is one of the most visited news platforms in the Kingdom.

Christmas markets support local businesses, Gaza relief efforts

By - Dec 19,2024 - Last updated at Dec 19,2024

As the holiday season unfolds, Christmas markets across Jordan are bustling with activity, attracting crowds eager to immerse themselves in festive joy while supporting local businesses (JT file)

AMMAN— As the holiday season unfolds, Christmas markets across Jordan are bustling with activity, attracting crowds eager to immerse themselves in festive joy while supporting local businesses.

These markets, an increasingly cherished tradition in Jordan, serve as vital economic drivers, offering artisans, entrepreneurs, and small businesses a seasonal boost in revenue.

Marian Khoury, a jewellery business owner selling her creations in local markets and online, told The Jordan Times, “Christmas markets in Jordan have evolved into vibrant hubs of commerce and culture, particularly in cities like Amman, Madaba, and Fuheis.”

She added, “We’ve seen a 30-40 per cent rise in sales compared with last year, as 2023 did not observe major Christmas markets due to the Gaza War.” 

Khoury also noted that many businesses are allocating a portion of their profits to support Gaza this year.

Vendors at this year’s markets reported steady growth in sales compared with previous years, reflecting increased consumer confidence and a heightened appreciation for locally crafted products.

Maria Malak, a local jewellery designer, highlighted a noticeable trend in consumer preferences, saying: “This year, there has been a growing demand for sustainable and locally made products.” 

She pointed out that business owners offering eco-friendly crafts, handmade decorations, and organic food items have reported higher sales.

Satanay Mohammad, owner of an online cookie shop, said that Jordan’s Christmas markets represent more than just festive celebrations.

 “These markets are microcosms of the country’s economic resilience and cultural richness,” she said.

 

Aqaba Water Company, USAID launch $40m efficiency programme in Maan, Karak

By - Dec 19,2024 - Last updated at Dec 19,2024

The programme is projected to yield annual water savings of 3 million cubic meters, benefiting some 210,000 residents (Petra photo)

AMMAN — The Aqaba Water Company on Thursday secured $40 million in funding through an agreement with USAID worth $32.5 million and self-financing of $7.5 million to implement comprehensive water loss reduction programmes in Maan and Karak governorates.

The strategic initiative, executed under the Fixed Amount Reimbursement Agreement (FARA) framework, incorporates advanced technological solutions, including the implementation of a next-generation SCADA system, the Jordan News Agency, Petra, reported. 

This digital infrastructure enhancement, financed by $5.74 million from USAID and $3 million from Aqaba Water Company, represents a significant advancement in operational efficiency and distribution network optimisation.

The programme is projected to yield annual water savings of 3 million cubic meters, benefiting some 210,000 residents through improved infrastructure in key areas including Maan, Al Sammar, Al Lajjoun, and Al Ghweir.

The SCADA implementation will enable real-time monitoring and control of production, transmission, storage and distribution systems across southern governorates.

Minister of Water and Irrigation Raed Abul Saud stressed the initiative's alignment with national economic modernisation objectives and digital transformation strategies.

He added that the comprehensive approach integrates infrastructure development with operational efficiency enhancement, advancing the National Water Strategy's resource management framework.

The minister highlighted that these investments extend beyond technological innovation to serve citizens and ensure sustainable water resource management, building on seven decades of strategic cooperation with USAID.

Director of USAID Mission in Jordan Leslie Reed underscored the "significance of this milestone" in US-Jordan partnership for addressing water scarcity challenges.

Reed stressed that these initiatives represent strategic steps toward sustainability, innovation and community empowerment, ensuring "optimal" management of Jordan's water resources.

She added that the programme reinforces USAID's sustained commitment to supporting Jordan's water security initiatives through enhanced supply efficiency and conservation of scarce resources.

The mission director noted that the implementation of the SCADA system signifies a "pivotal" advancement in the sector's technological capabilities, enabling precise monitoring and control across the entire water supply chain.

This systematic upgrade aligns with broader national objectives for digital transformation and service delivery optimisation, marking a significant step forward in Jordan's water sector modernisation efforts, Petra added.

 

Industry minister visits Jaber crossing, Jordanian-Syrian free zone

By - Dec 19,2024 - Last updated at Dec 19,2024

During a visit to the Jaber Border Crossing and the Jordanian-Syrian Joint Free Zone on Thursday, Minister of Industry, Trade and Supply Yarub Qudah says all foreign goods are now allowed to transit through Jordan to Syria (Petra photo)

AMMAN — Minister of Industry, Trade and Supply Yarub Qudah on Thursday visited the Jaber Border Crossing and the Jordanian-Syrian Joint Free Zone.

Qudah said that some 130 trucks were expected to cross the Jaber Border on Thursday, along with more than 85 trucks from the Jordanian-Syrian Free Zone heading into Syria, the Jordan News Agency, Petra, reported.  

This demonstrates the "high" level of readiness of the border crossings, where the government, in coordination with relevant authorities at the crossings, is fully prepared to provide the necessary support, the minister pointed out.

He noted that Jordan has implemented several measures to ensure the smooth flow of goods, including allowing the "back-to-back" system, where goods are transferred to Syrian trucks within the customs area. 

Qudah said that the government had also approved the "door-to-door" system, permitting Jordanian trucks to enter Syrian territory directly, aiming to overcome obstacles to the flow of goods into Syria. 

All foreign goods are now allowed to transit through Jordan to Syria, with a significant number of trucks having already crossed into Syria via transit, the minister said, noting that Syrian goods are also permitted to transit through Jordan to other countries.

Qudah stressed that His Majesty King Abdullah had directed the government to provide all possible support to the Syrian people, where a task force was formed to fully restore the Jaber Border Crossing and the Jordanian-Syrian Free Zone to facilitate the flow of goods into Syria. 

He said that the Jordan Hashemite Charity Organisation (JHCO) dispatched an aid convoy to the Syrian people last week.

Over the past three days, the movement of goods from Jordan to Syria and vice versa, through Jordan to other countries, has resumed. 

Around 500 trucks loaded with goods have been sent to Syria, and more than 150 trucks have transited through Jordan from Syria to various destinations. 

He highlighted the large number of vehicles, high trade exchange activity through the "back-to-back" system, and the significant flow in the Jordanian-Syrian Free Zone, including trucks crossing to and from Lebanon via Syria.

 

Jordanian field hospital team arrives in Nablus

By - Dec 19,2024 - Last updated at Dec 19,2024

Following Royal directives, the Jordanian Field Hospital Nablus team on Wednesday arrives in Nablus to embark on their humanitarian and medical mission (Petra photo)

AMMAN — Following Royal directives, the Jordanian Field Hospital Nablus team on Wednesday arrived in Nablus to embark on their humanitarian and medical mission in support of the Palestinian people.

The medical team, accompanied by eight trucks carrying essential medical supplies, is prepared to bolster the hospital's operational capacity.

Upon arrival, the team, comprising a wide range of medical specialists, immediately began preparations to ensure the efficient delivery of humanitarian aid and medical services, according to the Jordan News Agency, Petra.

The previous Jordanian Field Hospital Nablus team, which recently concluded its mission, treated 25,869 patients, conducted 265 major and minor surgeries and performed 24,677 medical procedures before returning home on Thursday.

The Kingdom had previously established two health centres in Ramallah and Jenin, serving tens of thousands of patients in the West Bank, and also established two military field hospitals in Gaza, one in the north of the strip, which was established in 2009, following the Hamas-Israel war in 2008.

The second was established in Khan Younis in the south in November 2023 at the peak of the Israeli aggression on the coastal enclave that erupted on October 7.

 

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