U.S. Nasdaq Index Rises - Jordan News
Meanwhile, the Dow Jones Industrial Average edged slightly lower, settling at 44,484 points, while the S&P 500 index gained around 29 points to reach 6,227 points. اضافة اعلان In related news, the price of U.S. West Texas Intermediate (WTI) crude oil rose by nearly two dollars, reaching $67.19 per barrel.
— (Petra)
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Jordan Times
2 days ago
- Jordan Times
ACI exports reach JD4.207b in first 7 months of 2025
AMMAN — Exports from the Amman Chamber of Industry (ACI) rose by 14.9 per cent during the first seven months of 2025, according to statistics data monitored on Wednesday. According to statistical data obtained by the Jordan News Agency, Petra, the chamber's exports, based on certificates of origin it issued, reached JD4.207 billion in the first seven months of 2025, compared with JD3.660 billion for the same period last year. Eight industrial sub-sectors recorded increases in their exports during the reporting period, ranging from 2.5 per cent for therapeutic and medical supplies to 78 per cent for construction industries. Exports from the wood and furniture sector declined by 8.2 per cent, while the packaging, paper, cardboard, and office supplies sector dropped by 7.6 per cent. Four countries—India, the US, Saudi Arabia, and Iraq—accounted for more than half of the ACI's exports in the first seven months of this year, with a combined total of JD2.421 billion. In terms of geographic distribution during the January–July period of 2025, Arab countries topped the list with JD2 billion in exports, followed by non-Arab Asian countries with JD935 million, and North American countries with JD723 million. Exports to EU countries totalled JD252 million, while exports to non-EU European countries stood at JD135 million. Exports to African nations reached JD87 million, South American countries JD37 million, and other destinations JD32 million.
Jordan News
2 days ago
- Jordan News
Oil Prices Rebound on Trump's Threats to Buyers of Russian Crude - Jordan News
Oil Prices Rebound on Trump's Threats to Buyers of Russian Crude Oil prices rose on Wednesday, recovering from a five-week low recorded the previous day, amid supply disruption fears following U.S. President Donald Trump's threats to impose tariffs on India over its purchases of Russian crude oil. اضافة اعلان By 03:30 GMT, Brent crude futures were up by 43 cents (0.6%) to $68.07 per barrel, while U.S. West Texas Intermediate (WTI) rose 40 cents (0.6%) to $65.56 per barrel. Market Uncertainty Over U.S. Sanctions Commodity strategists at ING stated last Thursday: "There's still a lot of uncertainty around whether the U.S. will implement secondary sanctions on buyers of Russian oil... and growing chatter in the market suggests attention could shift toward China's Russian oil imports." They added that if India halts its purchases due to tariff threats, "The market could absorb the loss of that supply," but warned that the bigger risk would be if other buyers also begin to shun Russian crude. Investor Sentiment and India's Role Yuki Takashima, economist at Nomura Securities, commented: 'Investors are assessing whether India will reduce its Russian crude imports in response to Trump's threats, which could tighten supply. However, it remains to be seen if that will actually happen.' He added: 'If India's imports remain stable, WTI is likely to stay within the $60–$70 range for the rest of the month.' OPEC+ Production Boost On Sunday, OPEC and its allies (OPEC+) agreed to increase oil output by 547,000 barrels per day for September, a move that will end the latest round of production cuts earlier than planned. OPEC+ produces about half of the world's oil and has cut output for several years to support the market, but this year has seen a series of rapid production increases. U.S. Pressure on India and Supply Risks The U.S. is pressing India to halt Russian oil imports as Washington seeks leverage to pressure Moscow into a peace deal with Ukraine. Such moves may disrupt global supply flows as Indian refiners seek alternatives, and Russian crude gets redirected to new buyers. On Tuesday, Trump again threatened higher tariffs on Indian goods over its oil trade with Russia, saying the move could come within 24 hours. He also suggested that lower energy prices could pressure Russian President Vladimir Putin to end the war in Ukraine. India Responds to Tariff Threats New Delhi called Trump's threats 'unwarranted' and vowed to protect its economic interests, further intensifying the trade dispute between the two countries. U.S. Oil Inventory Data Supportive Takashima of Nomura noted that U.S. oil inventory data—from the world's largest oil consumer—provided support for oil prices. According to figures from the American Petroleum Institute (API) cited on Tuesday, U.S. crude oil inventories fell by 4.2 million barrels last week. This is a much larger drop than the 600,000-barrel decline expected in a Reuters poll for the week ending August 1. The U.S. Energy Information Administration (EIA) is scheduled to release its official weekly inventory data on Wednesday.
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2 days ago
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Petra: 5,000 employees affected by the decline in tourism
Petra Hotels Association President Abdullah al-Hasanat estimated that around 5,000 employees across various tourism sectors have been affected by the decline in tourism in Petra. Petra hotels alone have laid off around 700 employees due to the sharp decline in occupancy. Al-Hasanat said that all workers in the tourism sector have been negatively affected by the decline in tourism, with some losing their jobs or seeing their incomes slashed by more than half. Al-Hasanat added that approximately 32 of Petra's 90 tourist hotels have completely closed their doors, while the remaining hotels are operating partially and in accordance with available tourist activity. Occupancy rates range between 1-5% under the best of circumstances. Al-Hasanat called on the government to take further measures to accelerate the recovery of tourism, such as accelerating the attraction of low-cost airlines. He called for further support for Petra's tourism sector to enable it to continue, including direct financial support, interest-free loan deferrals until tourism activity improves, and tax exemptions. The Petra region has been suffering from a sharp decline in visitor numbers for nearly a year and ten months, due to the surrounding political circumstances, most notably the repercussions of the Israeli aggression on the Gaza Strip. The number of foreign visitors to the city declined by more than 70% last year, according to official figures from the Petra Region. The tourism downturn has cast a dark shadow over the city's various economic sectors. الوسوم نسخ الرابط تم نسخ الرابط
