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AMMAN — The Social Security Investment Fund (SSIF) has unveiled its preliminary 2024 financial results, announcing what it described as a "record-breaking growth and reaffirming its role as a cornerstone of Jordan’s economic development."

 With a growth rate of 9.1per cent, the fund’s assets reached JD16.1 billion, reflecting its strategic vision and exceptional performance, according to a statement to The Jordan Times.

SSIF Chairman Ezzeddin Kanakrieh announced an income of JD1.04 billion , which included JD892.7 million in net income, representing a 12per cent increase compared to 2023. "These results were driven by outstanding returns across investment portfolios, with bonds generating JD545.5 million, equities contributing JD 158.3 million, and money market instruments adding JD 149.5 million."

 Kanakrieh highlighted the fund’s balanced approach to achieving financial growth while delivering meaningful social impact, ensuring a sustainable future for Jordan.

In real estate, the fund's assets reached JD874.6 million, supported by BOT agreements and strategic partnerships for land development. In the development zones, private sector investments in the Mafraq Zone totaled JD 641million across 71 projects, creating 1,846 jobs, with 1,800 additional jobs expected from projects under construction. In Irbid, investments in technology and software reached JD 45 million, providing 2,370 jobs, the statement said.

Tourism development also advanced significantly, with the renovation of the Crown Plaza Petra nearing completion and design work progressing for a beachfront hotel in Aqaba. In agriculture, the SSIF expanded its cultivated lands to 19,500 dunums and signed a partnership with a Saudi company to supply locally produced potatoes, creating new opportunities for export and enhancing Jordan’s agricultural sector. Furthermore, the Fund acquired a 7 per cent stake in Madfooatcom, demonstrating its commitment to diversifying its portfolio and embracing innovation, according to the statement. 

Kanakrieh also revealed ongoing discussions with leading mining companies to explore investments in phosphoric acid industries, underscoring the SSIF’s role in driving industrial growth.

“This year’s performance solidifies the SSIF’s position as a key driver of Jordan’s economic future,” Kanakrieh said. “By fostering public-private partnerships and aligning with the Economic Modernization Vision, we are building a brighter future for generations to come.”

AMMAN — HRH Princess Sumaya bint Hassan, president of the Royal Scientific Society (RSS), patronised the closing ceremony of the first regional conference on chemical safety and green chemistry, highlighting its role in advancing industrial development in Jordan, according to a statement for The Jordan Times.

In a speech delivered by Vice President for Scientific Research at RSS Arafat Awajan, Princess Sumaya emphasised the need to apply green chemistry principles in industrial processes. 

She pointed out that this supports the Economic Modernisation Vision, focusing on green transformation and high-value industries as drivers of economic growth in Jordan. 

The princess also noted that the conference reflects the RSS’s leadership in building a knowledge-driven society and supporting a sustainable knowledge-based economy, the statement said. 

The conference featured the participation of the founders of green chemistry Director of the Centre for Green Chemistry and Green Engineering at Yale University Paul Anastas, and John Werner from the United States. 

Anastas presented the principles of green chemistry, emphasising their role in enhancing chemical safety and achieving industrial sustainability worldwide. 

Werner highlighted practical examples of applying green chemistry principles in industry, showcasing their impact on creating high-value industrial products. 

Acting Secretary General of the Ministry of Environment Jihad Alsawair said that the conference aligns with national efforts to transition towards a sustainable green economy. 

He also noted that it supports Jordan’s international commitments, including the Stockholm Convention on Persistent Organic Pollutants (POPs), which Jordan adopted in 2004 to protect human health and the environment from long-lasting hazardous chemicals, according to the statement. 

The conference featured a panel discussion with representatives from private chemical companies, academic institutions, government bodies and business accelerators. 

The session focused on the importance of connecting business accelerators, academia and industry to promote the adoption of green chemistry principles, enhancing chemical safety along local and global supply chains. 

Participants underscored the need for a robust legislative and legal framework to ensure the sustainability of these efforts and encourage the private sector to adopt green industrial practices. 

They also called for intensified regional and global collaboration and capacity-building initiatives to reduce hazardous chemicals. 

This event is part of the Green Chemistry Project, implemented by the RSS in collaboration with the Ministry of Environment, Yale University, and UNIDO, with support from the Global Environment Facility. 

The project seeks to advance green transformation in Jordan’s industrial sectors by supporting green chemistry entrepreneurship and replacing hazardous chemicals with non-hazardous or less hazardous sustainable alternatives, the statement said.

AMMAN — Minister of Higher Education and Scientific Research Azmi Mahafzah and German Ambassador to Amman Bertram von Moltke on Tuesday inaugurated the construction of the new German Embassy building in the capital's Abdoun neighbourhood.

The German ambassador said that the new embassy building will be a "symbol of our strong relationship and friendship with Jordan."

He added that it will provide sufficient space for meeting and working together while respecting local culture and traditions, and that the building will be environmentally sustainable through the use of natural cooling systems, harnessing solar energy, collecting rainwater and recycling all wastewater.

He also expressed his gratitude to Amman Mayor Yousef Shawarbeh and all relevant authorities for their continuous efforts in making this project possible.

AMMAN — Remittances sent by Jordanians working in Qatar witnessed a "notable" growth of 8.4 per cent in 2024, compared to the previous year, reaching some 515 million Qatari riyals ($141.4 million).

This marks an increase of 40 million riyals ($11 million) from 2023, when the total was 475 million riyals ($130 million). In 2022, the figure stood at 426 million riyals ($117 million), the Jordan News Agency, Petra, reported. 

The Jordanian community in Qatar currently numbers around 75,000, with the majority employed in various sectors across the country’s labour market.

According to officials from commercial banks and exchange companies in Qatar, data from financial institutions indicates a consistent rise in remittances from the Jordanian expatriate community, driven by the growing number of Jordanians residing in Qatar in recent years.

These remittances play a crucial role in supporting the financial stability and living conditions of Jordanian families, assisting with loan repayments, education costs, healthcare and housing.

As part of a broader initiative, Qatar pledged several years ago to provide 20,000 job opportunities for Jordanian youth. 

By the end of 2023, approximately half of the pledged positions around 10,000 were filled in the first phase of the initiative, with the remaining jobs being allocated in the second phase.

Jordanians in Qatar primarily work in the public education and healthcare sectors, as well as in private institutions within these fields.

Also, many Jordanians are employed across various industries, including finance, real estate, construction, hospitality, tourism, food services and ICT.

Qatar remains a key destination for Jordanian workers, offering diverse employment opportunities in both the public and private sectors.

AMMAN — "The Pakistani Film Days" is scheduled to kick off next Friday evening at Rainbow Cinema, organised by the Royal Film Commission in collaboration with the Pakistani embassy in Jordan.

The festival's aim is not just to entertain but to build cultural bridges, according to a Pakistani embassy statement. 

"By bringing these films to an international audience, the event underscores the universal themes that connect us all—love, hope, resilience, and the human condition. This initiative exemplifies how art and diplomacy can converge, fostering understanding and appreciation among diverse cultures," the statement said.

During the festival, three Pakistani films Motorcycle Girl, Nayab and Bin Roye will be screened, each representing a "unique genre and featuring inspirational, emotionally resonant storytelling."

“Motorcycle Girl” is based on the "incredible" journey of Zenith Irfan, the first Pakistani woman to undertake a solo motorcycle expedition to the northern regions of Pakistan. Her story is one of courage, determination and breaking societal norms.

“Nayab” tells the empowering story of a young Pakistani girl who defies societal expectations with the support of her elder brother. Her journey to becoming a cricket player for Pakistan's national team is a testament to resilience, ambition and the pursuit of dreams.

“Bin Roye” presents an epic tale of complex emotions, exploring the love-hate dynamics between Saba, a young woman deeply in love with her cousin Irtaza, who, unbeknownst to her, sees her only as a friend. This poignant narrative delves into the intricacies of unrequited love and familial bonds.

"As we look forward to this landmark event, it is essential to acknowledge the significance of this moment for Pakistani cinema. With each frame, each story, and each festival, the industry takes another step toward solidifying its place on the global cinematic map," according to the statement. 

The festival in Amman is not just an event; it is a declaration of the power of art to unite and inspire.

AMMAN — Jordan on Monday reiterated the importance of full compliance with the Gaza ceasefire agreement, calling it a crucial step toward alleviating civilian suffering and ensuring stability in Gaza, the occupied Palestinian territory and the broader region.

Addressing the UN Security Council, Jordan's Permanent Representative Mahmoud Hmoud stressed the urgent need for sustained international action to provide adequate humanitarian aid to Gaza amid the ongoing Israeli war. 

He also said that international cooperation is essential for reconstructing Gaza, meeting the needs of the affected population and rebuilding critical infrastructure, according to the Jordan News Agency, Petra. 

"A concerted global effort is required to ensure financial and technical resources reach Gaza without hindrance, with a focus on long-term sustainability," Hmoud said.

"Under the leadership of His Majesty King Abdullah, Jordan has been at the forefront of humanitarian aid efforts," Hmoud noted, adding "Since the outbreak of the war, Jordan has dispatched 141 humanitarian convoys comprising 5,127 trucks, delivering 65,257 tonnes of aid via land routes. Additionally, 391 airdrops have been conducted over northern and southern Gaza."

Jordan's role as a key hub for aid distribution has been vital, with field hospitals continuing to provide medical services to the wounded, he said. 

He also highlighted the "Restoring Hope" initiative, launched to provide prosthetic limbs to amputees in Gaza—estimated to exceed 16,000—remains an ongoing priority.

"We are committed to ensuring that our humanitarian efforts continue, and we stand ready to work with international partners to facilitate the delivery of aid," Hmoud said, reiterating Jordan's continued support for Gaza's recovery.

He also stressed Jordan's support for the establishment of an independent Palestinian state on the pre-1967 borders with East Jerusalem as its capital, based on international law, UN resolutions and the Arab Peace Initiative.

Hmoud also expressed concern at Israel's recent unilateral actions in the Occupied Palestinian Territories, which he said threaten the viability of the two-state solution and jeopardise the prospects for peace. 

He also condemned Israel's attempts to change the status quo at Al Aqsa Mosque/Al Haram Al Sharif, which he described as a violation of international law and Israel's obligations as an occupying force. Hmoud also said that the Jordanian Jerusalem Awqaf and Al Aqsa Affairs Department has sole authority over the mosque and its access.

Regarding the United Nations Relief and Works Agency for Palestine Refugees (UNRWA), Hmoud stressed the agency's irreplaceable role in providing essential services to Palestinian refugees and promoting regional stability. 

He also condemned recent Israeli efforts to impede UNRWA's work in the occupied territories, including East Jerusalem and urged the international community to ensure the agency's continued work through political and financial support.

AMMAN — The Senate on Tuesday endorsed the 2025 draft state budget as referred from the Lower House.

During a session chaired by Senate President Faisal Fayez and attended by Prime Minister Jaafar Hassan and Cabinet members, the Senate approved the recommendations of its Finance and Economic Committee following a session chaired in part by Second Deputy Speaker Abdullah Ensour. 

Minister of Finance Abdelhakim Shibli presented the government's responses to senators' inquiries, followed by remarks from senators Mamdouh Nabas, Yassin Husban, Ghazi Thneibat and Rakan Fawaz, the Jordan News Agency, Petra, reported.

The senators emphasised priorities such as enhancing the investment climate, boosting exports, financing small businesses, managing public debt, and addressing poverty and unemployment.

The Senate underscored the importance of advancing Jordan's comprehensive modernisation plans across the political, economic, and administrative sectors. Discussions focused on improving public services, supporting the armed forces and security agencies, and strengthening key industries such as agriculture, health, tourism, and technology.

The Senate also underscored the importance of advancing Jordan's comprehensive modernisation plans across the political, economic, and administrative sectors. 

Discussions focused on improving public services, supporting the armed forces and security agencies and boosting vital industries such as agriculture, health, tourism, and technology.

Fayez acknowledged the challenges posed by regional instability and high public debt, urging collective efforts to overcome these hurdles. He also reaffirmed the Senate's commitment to His Majesty King Abdullah's vision for a prosperous Jordan.

The 2025 draft budget outlines a total expenditure of JD12.51 billion, comprising JD11.02 billion in current expenditure and JD 1.47 billion in capital expenditure. 

Projected total revenues stand at JD10.23 billion, including JD9.49 billion from domestic sources and JD734.38 million from foreign grants, resulting in a deficit of JD2.26 billion.

Government entities' expenditure is estimated at JD1.78 billion, with revenues of JD1.01 billion, leading to a deficit of around JD768.16 million.

Economic projections for 2025 anticipate real GDP growth of 2.5 per cent, nominal GDP growth of 4.9 per cent, stable inflation at 2.2 per cent, a 0.7 per cent rise in exports, and a 4.1 per cent increase in imports.

Economic projections for 2025 anticipate real GDP growth of 2.5 per cent, nominal GDP growth of 4.9 per cent, stable inflation at 2.2 per cent, a 0.7 per cent rise in exports, and a 4.1 per cent increase in imports.

The draft law prioritises accelerating Jordan's economic modernisation vision and advancing structural reforms. 

Key focus areas include fostering public-private partnerships, revitalising tourism and supporting the armed forces and security agencies. 

Additional objectives involve enhancing health, education, transport, and social protection services, strengthening food security and water infrastructure, and promoting digital transformation and green economy initiatives.

Finance minister, in the government's response, highlighted key economic indicators demonstrating Jordan's steady progress in 2024. 

He noted that in the first three quarters of the year, Jordan's GDP grew by 2.3 per cent at constant prices, while inflation remained at 1.6 per cent, one of the lowest rates in the region.

"National exports rose by 4 per cent, and the trade deficit narrowed by 5 per cent in the first ten months of 2024. Foreign exchange reserves reached a record high of $21 billion. Unemployment improved, declining to 21.4 per cent from 22.2 per cent during the same period in 2023."

Shibli highlighted Jordan's top ranking in budget transparency among MENA countries, as recognised by the 2024 International Budget Partnership report. 

He also underlined international institutions' positive assessment of Jordan's economic resilience.

Despite regional security and political challenges affecting domestic revenues, the government has maintained its commitment to protecting citizens from additional financial burdens, he said. 

Shibli stressed that no new taxes have been imposed on essential goods, nor have existing tax laws been amended, underscoring the government's dedication to economic stability and public welfare.

AMMAN — The Foreign Ministry expressed its sincere condolences and sympathy to the government and people of Turkey, for the fire incident that happened in northwest Turkey's Bolu city, which claimed the lives of 66 people. 

The ministry spokesperson Sufian Qudah affirmed the Kingdom's sympathy and solidarity with the government and people of Turkey. 

He expressed sincere condolences to the families of the victims and wished a speedy recovery to the injured.

The death toll from a fire that engulfed a hotel at a popular ski resort in northwestern Turkey on Tuesday rose to 66, officials said, according to AFP. 

Witnesses said desperate guests had tried to escape using ropes, footage showed bedsheets hanging from the windows, and media reports suggest some had died after trying to jump to safety, AFP added.

"Our pain is great," Interior Minister Ali Yerlikaya told reporters at the resort in Kartalkaya, around 170 kilometres (100 miles) northwest of the capital Ankara.

He added that "66 citizens lost their lives and 51 others were wounded" as officials said that the fire had now been contained.

The blaze broke out at 3:27 am in the 12-storey Grand Kartal hotel, which has wooden cladding, Yerlikaya said.

Some 238 guests were registered at the hotel, the minister added. It was a peak time during a two-week school holiday. 

Turkish authorities detained four suspects including the owner of the resort hotel, Justice Minister Yilmaz Tunc said on X.

The fire is believed to have started in the restaurant and spread quickly, though it was not immediately clear what caused it, according to AFP.