Category: General

Israeli warplanes on Tuesday launched an airstrike targeting a palace on the road between Kfarkila and Al-Adeisseh, leading to its total destruction and the full blockage of the connecting road due to rubble. The airstrike also caused serious damage to nearby properties and homes.

Civil defense teams affiliated with the “Islamic Scouts Association” and the “Islamic Health Authority” inspected the site and endeavored to remove the rubble and reopen the public road connecting Kfarkila and Al-Adeisseh.

Source: National news agency – Lebanon

The Petroleum Derivatives Pricing Committee Tuesday raised the selling price of diesel to JOD.735 per litre instead of JOD.730 and the selling price of 90 octane gasoline to JOD.960 instead of JOD.940.

The selling price of 95 octane rose to JOD1.200 per litre instead of JOD1.175.

The Committee decided to set the price of kerosene for next May at JOD.620 per litre and to keep the cost of a domestic gas cylinder (12.5 kg) at JOD7.

This came during the committee’s monthly meeting to determine the selling prices of petroleum derivatives locally for May.

Source: Jordan News Agency

The current selling price of 21-karat gold, the favored choice among citizens in the local market, reached JD47 per gram on Tuesday in goldsmiths’ shops, compared to a buying price of JD45.

As per the daily bulletin released by the General Association for Owners of Jewelry Shops, the selling price of one gram of 24-karat gold stood at JD54.60, while 18-karat gold was priced at JD42.

Trading in the global market commenced today morning with the yellow metal priced at $2,317 per ounce.

Source: Jordan News Agency

The Council of Ministers on Tuesday endorsed a set of decisions, including abolition of the industrial incentives system.

The move was in line with 2022 legislation setting up the Industry Support Fund by the Ministry of Industry, Trade and Supply to promote the national industry through multiple programs, including incentives to improve the competitiveness of Jordanian industries, which warranted the termination of the incentives system.

In a session chaired by Prime Minister Bisher Khasawneh, the ministers also approved the Department of Lands and Survey’s administrative organization structure and the rationale for the draft flexible working arrangements according to the labor law.

Source: Jordan News Agency

Jordan Petroleum Refinery Company (JPRC) posted a profit of JD28.2 million during first quarter of the year 2024, compared to the same period last year, showing “revenue stability.”

In a statement Tuesday, the company indicated that its due amounts on government agencies and departments stood at JD538 million by end of March 2024.

The company also recorded “good” sales in the petroleum derivatives and liquefied gas sectors, as its sales to Jordan Petroleum Products Marketing Company-JoPetrol amounted to about JD216 million and to Jordanian Company for Manufacturing and Bottling of Liquefied Gas stood at JD12.5 million during the same period.

With continued growth and expansion, the JPRC said it remains “committed” to sustainability and innovation and seeks to maintain its position as a “leader” in the energy industry in Jordan and the region.

JPRC CEO, Abdelkarim Alawin, said results and developments reflect the company’s commitment to innovation and efficiency and affirm its “vital” role in supporting t
he national economy and enhancing the Kingdom’s energy independence.

Alawin said the company continues to maintain “positive” financial results, which reflect success of its strategy in maintaining financial stability in a “changing” commercial environment, pointing to the company’s aspiration to enhance its growth through the fourth expansion project.

Regarding developments of JPRC’s expansion project, he noted after the Italian company’s withdrawal from the coalition and Chinese (GPEC) and Japanese companies (Itochu) are still engaged in the process, a meeting was held on March 20, 2024 with participation of advisors and management to develop a plan to complete the project’s technical and financial aspects.

According to Alawin, the final agreement on funding details is expected to emerge in June 2024, indicating that the 4th expansion project will contribute to increase the company’s production capabilities and improve its services in the local market.

On measures to improve safety and efficiency, Alawi
n stated that the company began installing surveillance cameras at transportation and maintenance gates.

He added that the company also launched a mobile tanker as an experiment after obtaining the necessary approvals from Ministry of Interior and Public Security Directorate, indicating that this step aims to enhance safety standards and assess the company’s transportation performance.

Source: Jordan News Agency

The Amman Stock Exchange witnessed a downturn in Tuesday’s trading, closing with a 1.67 percent decrease, reaching 2,390 points.

Trading activity saw approximately 5.3 million shares exchanged, totaling around JD6.2 million, facilitated through 2,701 transactions.

Among publicly traded companies, 41 experienced a decrease in share prices, while 19 saw an increase, and 25 remained stable.

Source: Jordan News Agency

The Council of Ministers on Tuesday endorsed a set of decisions, including abolition of the industrial incentives system.

The move was in line with 2022 legislation setting up the Industry Support Fund by the Ministry of Industry, Trade and Supply to promote the national industry through multiple programs, including incentives to improve the competitiveness of Jordanian industries, which warranted the termination of the incentives system.

In a session chaired by Prime Minister Bisher Khasawneh, the ministers also approved the Department of Lands and Survey’s administrative organization structure and the rationale for the draft flexible working arrangements according to the labor law.

Source: Jordan News Agency