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
3 hours ago
- Jordan Times
Jordan loan Guarantee Corporation reports ‘strong' performance in H1 2025
AMMAN — The Jordan Loan Guarantee Corporation (JLGC) on Saturday announced 'strong' financial and operational results for the first half of 2025, driven by notable growth across its various programmes. According to the company's mid-year report, the total value of guarantees issued during the first six months of 2025 reached JD204 million, up from JD178 million in the same period of 2024, the Jordan News Agency, Petra, reported. The company said that this increase reflects its ongoing commitment to enhancing financial inclusion and supporting productive sectors across the Kingdom. JLGC Chairman Adel Sharkas expressed pride in the company's performance, highlighting the strength of its business model and the effectiveness of its strategies. He noted that these results align with the company's mission to support economic growth and expand access to finance, particularly for small- and medium-sized enterprises (SMEs), startups, and export-oriented businesses. The company reported a 3.8 per cent growth in total revenues, reaching JD25.2 million in the January-June period of 2025, compared with JD24.3 million in the corresponding period of 2024, and net profit after tax rose to JD1.79 million, up from JD1.76 million in the same period last year, Sharkas said. He added that as of the end of June 2025, total shareholders' equity stood at JD44.8 million, while the company's total assets reached JD781.3 million. JLGC Director General Adnan Naji highlighted the company's continued developmental role, noting that it guaranteed 831 loans worth nearly JD96 million during the first half of the year, including 111 startup projects valued at JD10.5 million. He also noted the growth of the Micro Enterprise Loan Guarantee Programme, launched two years ago, which has benefited 1,742 companies with total financing of JD13.2 million as of the end of June 2025. In terms of export support, Naji said that the company remained active under its Export Credit and Domestic Sales Guarantee Programme, securing 2,306 export shipments and domestic sales transactions valued at JD107.7 million. Also, 16 new industrial companies from various sectors joined the programme, bringing the total number of active insurance policies to 128, covering exports and sales to buyers in 40 countries around the world. JLGC stressed that these results reflect growing trust from partners in the banking and industrial sectors, the strength of its relationships with financial institutions and exporters, and its continued role as a key enabler of sustainable economic growth and financial inclusion in Jordan.
Jordan Times
3 hours ago
- Jordan Times
Aqaba port introduces floating gasification unit to secure energy supplies
AMMAN — The Aqaba Port on Friday received the floating gasification unit "Energy Force" ahead of its connection to the Arab Gas Pipeline network. According to a Ministry of Energy and Mineral Resources statement issued on Saturday, the unit is set to commence operations next Tuesday, facilitating the gasification of liquefied natural gas (LNG) shipments, the Jordan News Agency, Petra, reported. The ministry said that the development aligns with its vision of achieving sustainable energy security, securing the Kingdom's energy needs, diversifying sources of natural gas supply and meeting local market demands. It aims to enhance the flexibility of operational plans. Director General of the National Electric Power Company (NEPCO) Sufian Batayneh said that the company benefits from LNG to operate power plants. The initiative is part of NEPCO's strategic plan to improve the efficiency of the national electricity system and ensure energy security, especially during peak periods and emergencies, Batayneh said. He added that the Energy Force unit is a "key" step in implementing the cooperation agreement signed between Jordan and Egypt in January 2024. The agreement leverages Egypt's LNG infrastructure, including floating storage and regasification units (FSRUs), to supply gas to Jordan until the end of 2026, pending the completion of the new gas terminal project in Aqaba. The agreement provides Jordan a daily capacity of 350 million cubic feet of natural gas, with priority access and flexible technical and commercial terms, allowing gas usage without fixed costs when not needed. The arrangement aims to enhance system efficiency and reduce operational costs. This move underscores the 'strong and ongoing' cooperation between Egypt and Jordan in the energy sector, reflecting regional integration and mutual benefit from shared infrastructure especially amid global conditions that demand flexible and resilient energy sources. The ministry reaffirmed its commitment to continuously developing Jordan's gas infrastructure and strengthening Arab joint cooperation to ensure national energy security.
Jordan Times
8 hours ago
- Jordan Times
Authorities take legal action against entities linked to banned Muslim Brotherhood — official
AMMAN — Authorities had intensified legal measures targeting entities linked to the banned Muslim Brotherhood, including companies accused of financial and regulatory violations, according to an official source. The source said that a cybersecurity firm allegedly linked to the banned group failed to disclose its true beneficiary, in violation of legal requirements, and committed additional infractions. Consequently, the Companies Registrar has referred the case to the Public Prosecutor, the source added. In a separate case, the Companies Control Department had requested the State Litigation Attorney to initiate compulsory liquidation procedures for Dar Sabeel for Press and Distribution, the Jordan News Agency, Petra, reported. The company reportedly suffered losses exceeding twice its capital, failed to declare its actual beneficiary, did not fully pay its capital, and neglected to submit its annual financial statements. Meanwhile, an association based in Ain Al Basha had voluntarily decided to dissolve itself. Authorities reiterated that efforts were ongoing to monitor the activities and ownership structures of associations and companies suspected of affiliations with the banned group.
