Al-Futtaim Technologies and Johnson Controls Partner to Launch OpenBlue Smart Building Platform in the UAE
As smart city development accelerates in the Middle East, this partnership positions Al-Futtaim Technologies and Johnson Controls as key enablers of next-generation digital buildings – driving operational excellence, environmental responsibility, and future-ready infrastructure across the region.
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Jordan Times
4 hours ago
- Jordan Times
SSIF total assets rise to JD17.3b in H1 2025
AMMAN — The Social Security Investment Fund's (SSIF) total assets increased by JD1.2 billion to JD17.3 billion as of June 30, representing a 7.2 per cent increase and one of the 'strongest' semi-annual performances in the fund's history. In the first half of 2025, SSIF delivered a 'pivotal' performance that underscored its evolving role as a cornerstone in Jordan's financial and economic system, according to an SSIF statement to The Jordan Times. The robust financial results were underpinned by a 119 per cent year-on-year increase in comprehensive income, which reached JD1.1 billion from JD487 million during the same period last year, the fund said. This comprised JD591 million in net returns from investment activities and JD473 million in unrealised gains on the revaluation of strategic equity holdings. An additional JD109 million in actuarial surplus was transferred from the Social Security Corporation, SSIF noted. Net returns from investment portfolios increased by 15 per cent compared to the first half of 2024, driven primarily by bonds of JD296 million, equities of JD207 million, and money market placements JD70 million, in addition to the income real estate and loans portfolios. The fund's share of dividend income from 2024 corporate profits exceeded JD191 million, the highest in its history, reflecting not only robust corporate performance but also the SSIF's rising influence within Jordan's capital markets. These dividends contribute to increased liquidity, enhanced investor confidence, and a more resilient investment environment, reinforcing the foundations for sustainable national growth. As of mid-year, 2025, the fund's portfolio was allocated as follows: bonds 57 per cent, equities 17.1 per cent, money market instruments 14.1 per cent, real estate 5.2 per cent, loans 3.3 per cent, and tourism assets 1.9 per cent. Chairman of the Investment Board Omar Malhas said that the fund's performance marks a 'turning point' in its institutional role; from a conventional asset manager to a proactive, long-term investor shaping national economic priorities. He underscored the SSIF's strategic shift through revised investment priorities, deeper integration in productive sectors, and a focus on high-impact initiatives such as the planned co-financing of the National Water Carrier Project, Jordan's most ambitious infrastructure undertaking to date. Malhas highlighted that this transformation is anchored in disciplined decision-making supported by rigorous financial and technical evaluations. SSIF's investment processes are calibrated towards long-term value creation, insulated from short-term volatility, and aligned with national objectives, he said. Malhas noted that the government's decision to prioritise SSIF as a core investor in flagship development projects signals confidence in the fund's institutional capacity to structure impactful, commercially viable partnerships. He pointed out that this strategic positioning enhances SSIF's stature as a driver of inclusive growth, while also reinforcing its relevance to regional and global investors seeking stable, mission-aligned opportunities. SSIF CEO Izzaldeen Kanakrieh stressed that the fund's 'strong' earnings continue to support sustained asset growth and broader institutional credibility. He described the current phase as one defined by a 'deepening of strategic partnerships,' backed by growing confidence from public and private sector stakeholders. Kanakrieh noted that SSIF operates under a forward-leaning institutional mandate that highlights the early identification and pursuit of high-impact investment opportunities. In recent months, the fund submitted expressions of interest to relevant ministries and national corporations to explore potential collaboration in proposed initiatives across the transport, education and mining sectors, the CEO noted. He added that these efforts are embedded within an integrated governance model consistent with SSIF's long-term vision and the broader goals of the Economic Modernisation Vision. By channelling capital into high-productivity, value-generating sectors, Kanakrieh said that the SSIF strengthens the resilience of the social security system while reinforcing national competitiveness. SSIF is currently updating its strategic plan for the coming years with the aim of responding to economic shifts and capitalising on emerging investment opportunities, said the statement. This includes a comprehensive reassessment of investment priorities, with renewed emphasis on channelling resources towards high-value, productivity-driven sectors. Through this integrated approach, SSIF continues to institutionalise performance excellence, align capital with strategic national priorities, and consolidate its position as a trusted long-term steward of public capital, delivering economic value, financial stability, and developmental impact for generations to come.
Al Bawaba
7 hours ago
- Al Bawaba
Jazeera Airways Unveils Mega Sale: 100,000 Seats from Just KD 14
Jazeera Airways today announced a significant Mega Sale, offering customers an impressive 100,000 seats at highly competitive fares. One-way flights will be available starting from just KD 14. This initiative underscores Jazeera Airways' ongoing commitment to providing accessible and affordable travel options across its extensive Carroll, Chief Commercial Officer, Jazeera Airways, commented: 'We are incredibly excited to launch this Mega Sale, designed specifically to broaden travel opportunities and enhance convenience for even more of our customers. By making 100,000 seats available at such remarkable fares, we are actively making the dream of a getaway or an important trip a more attractive and achievable reality."This limited-time sale runs from July 27 to 31, and is valid for travel between August 1 and September 30, a wide range of destinations across the Middle East, Asia, and Europe, Jazeera Airways invites travelers to take advantage of these exceptional fares and enjoy a seamless travel experience with Kuwait's leading low-cost carrier. Bookings can be made conveniently via the official Jazeera Airways website, or through the Jazeera Airways mobile application. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Jordan Times
8 hours ago
- Jordan Times
Cabinet amends vehicle plate bylaw to boost transparency, student aid
AMMAN — The Cabinet on Saturday approved an amendment to the vehicle plate bylaw aimed at increasing transparency and supporting higher education funding. Under the new regulations, government, temporary import, and diplomatic vehicle plates will feature clear letter codes indicating the entity to which the vehicle belongs, the Jordan News Agency, Petra, reported. The designated codes include: PM for the prime minister and ministers, SN for the Senate, PR for the Lower House, JC for the Judicial Council, GV for government entities, AQ for the Aqaba Special Economic Zone Authority, CD for diplomatic missions, and TM for temporary imports. The Drivers and Vehicles Licensing Department will oversee the implementation procedures for government vehicle plates, and this amendment will not affect the numbering system for private, public, or cargo vehicles. In a move to bolster education funding, the Council of Ministers also decided to allocate all revenues generated from the auction of distinctive vehicle plate numbers, regardless of their coding, to the University Student Support Fund. This measure, effective from the upcoming academic semester, supplements the fund's existing budget, which the government increased by 50 per cent this year to reach JD30 million. The decision will expand the number of university students who benefit from the fund, Petra added. Replacing numeric codes with letters is expected to improve clarity, transparency, and the ability to monitor and track government vehicles more efficiently. The letter-based system is already in use in several countries and is regarded among the best practice globally. The new bylaw also allows for buying and selling vehicle plates without requiring the transfer of vehicle ownership, streamlining administrative procedures.
