JBA, Avedissian discuss establishment of Jordanian-Cypriot Business Council
AMMAN — Chairman of the Jordanian Businessmen Association (JBA), Hamdi Tabbaa, on Wednesday discussed with Cyprus Ambassador to Jordan, Sevag Avedissian, the establishment of a Jordanian-Cypriot Business Council to enhance opportunities for economic cooperation.
In a JBA statement, Tabbaa emphasised the deep-rooted, strategic bilateral relations, noting the association's keenness to enhance economic, trade and investment cooperation to achieve the "greatest possible" benefits.
He said this prospect emerges, given the opportunity to explore various aspects of mutual partnership that would stimulate growth, enhance trade and provide new investment opportunities, the Jordan News Agency, Petra, reported.
Tabbaa stated investment projects in the Kingdom enjoy "significant" privileges for investors and cover numerous economic sectors, making them "effective" contributors to achieve goals of the Economic Modernisation Vision (EMV).
He also called for intensifying meetings and exchanging "promising" investment opportunities among the two countries' businesspeople and the private sector.
To boost economic collaboration, Tabbaa stressed the importance of developing trade exchange mechanisms and mutual regulatory legislation to contribute to increase volume of trade exchange and joint investments.
The Cyprus ambassador welcomed establishment of the joint council, which would contribute to strengthening the Jordanian-Cypriot business people's economic, trade and investment ties and support the two countries' private sector cooperation.
The diplomat noted Jordan has "promising" investment opportunities in numerous economic sectors, mainly in the pharmaceutical, food, real estate, contracting and information technology sectors.
© Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
Dh55 million for a car number plate? Why are some plates so expensive in the UAE?
Less is more — that's definitely true when it comes to car number plates in the UAE. The fewer the digits, the more expensive they are. This could help explain why Dubai's 'P7' car number plate set the record for the most expensive number plate in the world when it was auctioned for Dh55 million in 2023. This surpassed the previous record of Dh52.5 million set by the 1 number plate sold in Abu Dhabi. Owning a personalised number plate could turn more heads than the car you drive. And thankfully, you don't need to spend millions to acquire one. While single-digit number plates are the most expensive, there are many double and triple-digit combinations that are priced lower. Or, you could go the other way and pick numbers that represent a significant date — such as the date you got married, or the birth date of your children. The Roads and Transport Authority (RTA) in Dubai has just finished its latest auction of distinctive number plates consisting of three-, four-, and five-digit combinations for private vehicles, classic vehicles, and motorcycles. This was the RTA's 79th online auction and included 350 exclusive plates up for grabs. Many of its auctions are organised to raise money for good causes, such as the 1 Billion Meals Endowment and the Fathers' Endowment Campaign. The One Billion Meals Endowment campaign was launched under the global initiatives umbrella spearheaded by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime Minister of the UAE and Ruler of Dubai, with the aim of fighting global hunger. One of the most memorable auctions saw Muhammad BinGhatti, chairman of Binghatti Holding, pay Dh35 million for the DD5 number plate, which started with a bidding price of Dh15 million. While single-digit plates are the most exclusive, repeating numbers (like 111, 7777) or patterns (like 1234) are also highly prized. Personalised number plates are bought primarily as a status symbol, much like an expensive watch. But there are also those motorists who buy them as investments, hoping their value will increase over time. Manan Mistry, who owns the company Create Me, has bought four personalised number plates during his 19 years in the UAE. The 45-year-old paid around Dh4,000 per plate, which were put on various cars, including a Hummer, Chevy Camaro and Mustang. Important numbers 'I just thought it would be cool to have what you wanted, so I went ahead and bought personalised plates,' he said. One of the number plates is similar to his phone number while another one is the date of his wedding anniversary. Mistry plans to sell two of them as a pair, but not the marriage date one as it is 'priceless'. 'I also have L plates, which people think is a limo company. But at the time, it was the letter,' he joked. Jamie McGinlay, 49, bought the number plates O 3275 and P 3275 about five years ago and paid Dh9,000 for the pair. 'Originally, one was on my wife's Porsche Cayenne, but it's now on my Lotus Emira. The other has always been on my Aston Martin. I thought it would be a good way of making a little money on something a little fancy as I have always liked cars,' explained McGinlay, who is the CEO of a defence contracting company and has lived in the UAE for 16 years. 'I haven't ever sold them, but I am aware that their value has increased massively.' Back in 2017, the RTA launched a campaign called 'Your Memorable Moments on Your Vehicle's Plate' for U-coded plates. It allowed buyers to choose five-digit plates bearing a code personalised to resemble important dates. If I were to buy them for my two sons' birthdays, the plates would look very similar – 10107 and 10710. If you want a personalised number plate (officially called Special Plate Numbers) in Dubai, you can buy one directly from the RTA, participate in one of its online or physical auctions, or from a second-hand marketplace. The RTA offers customisation services, allowing you to choose letters and numbers that hold personal significance, as long as they haven't already been taken. Regular number plates have single letters at the front, with lower letters like A, B, and C normally meaning they are older. Once you start seeing double letters (like CC) then you will know these are part of a special series or auction. If you are taking part in an auction, make sure you determine your budget before you start bidding. Personalised plates can range in price from thousands to millions of dirhams, so don't get carried away. Having a hard ceiling on the price you are willing to pay will stop your emotions from taking over. Auctions can be competitive, especially for highly sought-after plates, so think carefully before you enter a bidding war.
Arabian Business
2 hours ago
- Arabian Business
UAE businesses confident of international trade growth despite tariff woes
Businesses in the UAE remain highly confident in their international trade prospects, with 94 per cent saying they expect to grow cross-border trade in the near future, according to HSBC's 2025 Global Trade Pulse Survey. Despite ongoing uncertainty and cost headwinds from tariffs, UAE firms are leaning into enhanced planning and digital solutions to stay ahead. The HSBC survey offers insight into the business plans and sentiment of more than 5,700 international firms across 13 markets regarding tariffs and trade. UAE business optimism It reveals that two thirds of corporations globally have already experienced cost increases due to tariff and trade uncertainty – and the worst may be yet to come. In contrast, companies in the UAE are incredibly optimistic about their future international trade prospects, as they have not suffered particularly pronounced impacts on cost yet, though they do expect to in the short-and-long-term. Deyana Cherneva, Head of Global Trade Solutions, Middle East North Africa and Türkiye, HSBC Bank Middle East said: 'Corporates in the UAE have their counter strategies ready in response to the rapidly evolving trade landscape. Using data, investing in supply chains, and increasing reliance on the Middle East, China, and Europe corridors, are part of their plans. 'Geopolitical and geoeconomic shifts have been a mainstay across decades and resilient businesses know how to adapt and respond. What is encouraging to see is that 75 per cent of corporates in the UAE plan to use the trade uncertainty as an opportunity to evolve and explore new opportunities.' Key findings include: The United Arab Emirates' proactive approach is also reflected in increased regional trade ties. 62 per cent of surveyed UAE firms say they are ramping up reliance on the Middle East, followed by China (47 per cent) and Europe (43 per cent).
Gulf Today
5 hours ago
- Gulf Today
Michael Jordan's 23XI Racing charter in jeopardy after court ruling
A United States appeals court on Thursday vacated a preliminary injunction that allowed Michael Jordan's 23XI Racing and another NASCAR team to be treated as chartered teams, putting the teams' futures in NASCAR in question. 23XI Racing -- whose owners include Jordan and NASCAR driver Denny Hamlin -- and Front Row Motorsports refused to sign a take-it-or-leave-it charter agreement NASCAR presented in September, while the other 13 organizations in the Cup Series proceeded to sign. The two holdouts filed an antitrust lawsuit against NASCAR the following month. In December, U.S. District Judge Kenneth D. Bell granted the teams' request for a preliminary injunction to be recognized as chartered teams while their lawsuit was active. NASCAR slammed that decision and brought an appeal to the Fourth Circuit Court of Appeals in Richmond, Va. On Thursday, a three-judge panel unanimously ruled in NASCAR's favor and vacated the preliminary injunction. "In short, because we have found no support for the proposition that a business entity or person violates the antitrust laws by requiring a prospective participant to give a release for past conduct as a condition for doing business, we cannot conclude that the plaintiffs made a clear showing that they were likely to succeed on the merits of that theory," the decision read in part. "And without satisfaction of the likelihood-of-success element, the plaintiffs were not entitled to a preliminary injunction. ... We therefore conclude that the district court abused its discretion in entering the preliminary injunction that it did." 23XI Racing and Front Row are still allowed to compete in the Cup Series, but having charter status guarantees them automatic spots in races and they would earn more money with a charter than as "open" teams. An open team must qualify their way into each race. They can also file for a petition for rehearing. Reuters
