Latest from Al Anbat News
Al Anbat News
17 hours ago
- Business
- Al Anbat News
Gold Prices Soar to Unprecedented Heights Amid Global Instability
الأنباط - "Gold Prices Soar to Unprecedented Heights Amid Global Instability" Recently, gold has experienced significant fluctuations in its prices due to ongoing economic and political changes both regionally and globally. Gold prices have been heavily influenced by global inflation, monetary policies implemented by central banks, as well as political tensions and wars, which have led to an increase in demand for gold as a safe haven. Additionally, investment funds and central banks have played a prominent role in driving prices higher. Saleem Dheeb, Secretary-General of the Jewelers' Syndicate, spoke to Al-Anbat, stating: "As inflation rises, the value of gold increases as a safe haven against the erosion of the purchasing power of currencies. Consequently, gold has become a crucial refuge for investors who are looking to preserve their wealth amid the ongoing rise in prices." He pointed out that global deficits and high debt, along with interest rates on the U.S. dollar, have contributed to the surge in gold prices, explaining that whenever interest rates are reduced, gold prices directly increase. This is due to a decrease in returns on U.S. dollar investments, prompting investors to turn to gold as a safer alternative. Dheeb continued: "Since gold is priced in dollars, any decline in the dollar's purchasing power leads to a rise in gold prices against the dollar. This depreciation of the dollar contributes to the increased demand for gold, thereby pushing its prices higher." He noted that one of the key factors contributing to the rise in gold prices has been the continuous effort of investment funds and central banks to increase their gold reserves, creating pressure on supply and further driving up prices. Dheeb further explained that the U.S. Federal Reserve's monetary policy has been caught between two difficult choices: either raise interest rates to curb inflation, which could lead to increased unemployment and a decrease in durable goods sales, or lower interest rates, which would lead to a rise in gold prices. He also emphasized that economic decisions made by the U.S. administration under President Trump significantly contributed to the rise in gold prices, particularly with changes in policies such as raising tariffs, followed by President Trump's visit to the Middle East, which brought some stability to gold prices. However, with the ongoing Gaza conflict, the Russia-Ukraine war, and Israel's entry into a war with Iran, gold prices have once again experienced extreme volatility. On the other hand, Dheeb highlighted the impact of global prices on the local market in Jordan, where pricing starts from the global price and is then adjusted based on local supply and demand. He added that demand for gold in Jordan has shifted this year, with investment purchases surpassing those for jewelry. The market has seen an increase in demand for gold ounces and liras, particularly after the price of an ounce rose by more than 30% in one year. He mentioned that the Jewelers' Syndicate has kept up with price fluctuations by issuing daily bulletins on changes in global prices. The Syndicate also allowed the production of 14-karat gold in an effort to offer an option more suited to the financial capabilities of citizens, while closely monitoring local markets in collaboration with the Jordan Standards and Metrology Organization. Mohammad Al-Hroub, a trader, stated that the rise in global gold prices has become extreme, especially given the ongoing wars between Russia and Ukraine, the Gaza conflict in the Middle East, and the recent war between Iran and Israel, along with the continuous political tensions in the region. He also pointed out that China has been buying large quantities of gold as a safe haven, adding economic weight. He observed the confusion and anxiety evident in the actions of local citizens, as the vast majority are now buying gold as a store of wealth rather than for decoration. This shift has led to an increase in demand for both the Rasheed and English gold liras, as well as ounces. Many people have also opted to sell their existing gold and jewelry in order to make substantial profits compared to gold prices from previous years. Al-Hroub noted that local traders and gold markets have adapted by offering lower-karat gold jewelry, such as 14-karat gold, and smaller weights, making it more affordable for citizens, especially those preparing for marriage. He emphasized that many young couples are now unable to afford the traditional wedding jewelry, known as "the bride's dowry," which is a crucial part of Jordanian marriage customs. In conclusion, gold prices remain susceptible to ongoing fluctuations due to global political and economic events. Despite the challenges facing gold markets, this precious metal will continue to be one of the safest havens sought by individuals and institutions during times of crisis. It is expected that gold price volatility will continue based on changes in monetary policy and global geopolitical factors, making it crucial for investors, traders, and citizens to closely monitor these developments.
Al Anbat News
29-05-2025
- Business
- Al Anbat News
With Unlimited Internet and 5G Orange Jordan Announces Updates to Saudi Passenger Roaming Bundles for Hajj Season
الأنباط - In line with its ongoing efforts to support Jordanian pilgrims during Hajj, Orange Jordan has announced an update to its roaming offers, including a range of exclusive discounts and flexible Saudi Passenger Roaming Bundles. These enhancements aim to ensure that pilgrims can stay in touch with their loved ones throughout their Hajj journey in the Kingdom of Saudi Arabia. The Saudi Passenger Roaming offer includes four different bundles, giving customers greater flexibility to choose the option that best suits their needs during their stay in Saudi Arabia, whether in terms of Validity, Internet, or Voice Minutes. As part of the new updates, the weekly bundle, which includes unlimited internet and 150 voice minutes, is now available at a 25% discount, priced at just 15 JOD instead of 20 JOD. Additionally, a new two-week bundle has been introduced, offering unlimited internet and 250 voice minutes for only 20 JOD, ensuring pilgrims stay seamlessly connected with their families during Hajj. Orange Jordan is the only local operator providing unlimited internet with 5G roaming on STC and Mobily networks in Saudi Arabia. With a range of roaming bundles designed for worry-free connectivity, customers can enjoy fast and reliable calls and internet. The offer runs from May 22 to June 11, 2025, covering the entire Hajj and Eid al-Adha period. Orange Jordan is always keen to offer its customers special roaming bundles for every season and occasion. Knowing how important the Hajj season is for travelers, we've updated the "Saudi Passenger Roaming' bundles to be more flexible and varied. This way, we continue to design exclusive offers that truly meet our customers' needs and keep providing real value, making Orange their trusted and preferred choice. The roaming bundles are available to all Orange Jordan traveler to Saudi Arabia. A new bundle can be activated by dialing *777# or *966#, through Orange Max it and jood mobile Apps, or visit one of Orange's shops, and the call center.
Al Anbat News
07-05-2025
- Politics
- Al Anbat News
Commentary: Pass the torch of peace from generation to generation
(Xinhua) -- Eighty years ago, the victory of the World Anti-Fascist War marked a turning point in human history, opening a new chapter in building a better international order and pursuing lasting the world has undergone dramatic transformations. Technology has connected distant corners of the globe, and globalization has brought nations closer than ever before. Yet, alongside these advances, new and complex challenges have emerged. Global uncertainty is rising, marked by power politics, unilateralism and division in ever-evolving the world reflects on the lessons of history, humanity must confront some urgent questions: How can we safeguard the hard-won peace? How can we collectively address pressing global challenges? And most importantly, how can we forge a shared future for all?As noted by Chinese President Xi Jinping at the general debate of the 70th session of the United Nations General Assembly back in 2015, history is a mirror, and only by drawing lessons from history can the world avoid repeating past calamities."We should view history with awe and human conscience. The past cannot be changed, but the future can be shaped. Bearing history in mind is not to perpetuate hatred. Rather, it is for mankind not to forget its lesson. Remembering history does not mean being obsessed with the past. Rather, in doing so, we aim to create a better future and pass the torch of peace from generation to generation," Xi said then. VICTORY OF THE JUSTOn the night of May 8, 1945, Germany signed the surrender document in Karlshorst, Berlin, marking the end of World War II (WWII) in Europe. Meanwhile in Asia, China's final major campaign against Japan -- the Battle of Western Hunan -- reached its decisive surrender aboard the USS Missouri in Tokyo Bay on Sept. 2, 1945, concluded WWII, humanity's deadliest conflict. More than 80 countries and regions, involving roughly 2 billion people, were drawn into the war, with the total casualties at over 100 million and economic losses exceeding 4 trillion U.S. dollars. Against fascist aggression, more than 50 countries, including China and the Soviet Union, formed a united front. The world will never forget that as the main theater in the East of the World Anti-Fascist War, China made a national sacrifice of over 35 million casualties in its fight against the majority troops of Japanese militarism. During 14 years of fierce anti-fascist fighting, China engaged and tied down over two-thirds of the Japanese Army, inflicting 70 percent of Japan's wartime military casualties. These efforts significantly contributed to the victory of the World Anti-Fascist from different countries stood with China in the common struggle. China will always remember the international support it received. For example, the U.S. "Flying Tigers" opened up the Hump Route for transporting emergency supplies; foreign doctors such as Norman Bethune from Canada and Dwarkanath Kotnis from India risked their lives to save others; German businessman John Rabe helped protect civilians during the Nanjing Massacre in significant was the Soviet Union's sacrifice and contribution on the European theater of World War II. From the Battle of Moscow to the Battle of Stalingrad and the Battle of Kursk, the Soviet people bore tremendous hardship and played a decisive role in defeating Nazi troops. During the global anti-fascist war, China and the Soviet Union supported each other. Soviet air force volunteers fought alongside Chinese soldiers, during which over 200 of them lost their lives in China. Many Chinese, including Mao Anying, late Chinese leader Mao Zedong's eldest son, engaged in fighting against Nazi troops during the toughest time of the Soviet Union's Great Patriotic War. This shared sacrifice forged a deep bond between the two victory of the anti-fascist war shattered attempts of the fascists and militarists to dominate the world, ended the colonial divisions of the world by imperial powers, and laid the foundation for a new vision of global peace and cooperation. REBIRTH OF THE WORLDThis year also marks the 80th founding anniversary of the United Nations. The opening words of the UN Charter -- "We the peoples of the United Nations determined to save succeeding generations from the scourge of war, which twice in our lifetime has brought untold sorrow to mankind" -- stand as a powerful testament to the hard-won lessons of two catastrophic world than just a historical reflection, these words convey humanity's ardent desire for lasting from the ashes of World War II, the United Nations represents humanity's efforts to move away from a world governed by the law of the jungle and a world order of Western-dominated the Westphalian and Vienna systems to the Versailles-Washington system, the old order divided the world into dominant powers, and nations they colonized and a historic shift, the UN Charter enshrines the principle of sovereign equality, affirming for the first time in international law that all nations, irrespective of size, strength or wealth, are equal. That became the cornerstone for the postwar international order. Anchored in the UN Charter, principles such as sovereign equality, non-interference in other's internal affairs, peaceful settlement of disputes and prohibition of the use or threat of force have evolved into bedrock norms of international relations. The UN system's creation has established not merely institutional platforms for cooperation, but transformed the very architecture of global the guidance of the spirit of the UN Charter, national liberation movements swept across the globe. Many countries in Asia, Africa and Latin America cast off the shackles of colonialism and gained national independence and law thus began to genuinely safeguard the rights and interests of developing countries. A more open and inclusive international community has replaced the West-centric paradigm of an exclusive "civilized nations club," a solid and far-reaching step toward lasting peace for has actively participated in founding the United Nations and shaping the postwar international order. On June 26, 1945, China was the first country to sign the UN Charter. Before that, the Chinese delegation strongly defended the interests of small- and medium-sized countries, and insisted that "independence" be enshrined in the UN Charter as the goal of the International Trusteeship System despite pressure from the West. Such efforts exemplified China's unwavering commitment to defending international fairness and postwar international order has consolidated the victory of the World Anti-Fascist War, established the fundamental norms of modern international relations, curtailed military expansionism, and advanced global peace and its inception 80 years ago, the United Nations has grown into the most universal, representative and authoritative intergovernmental organization in the world, carrying humanity's shared aspirations for a better future. CALL OF THE ERAOver the past 80 years, the absence of global-scale wars has allowed the world to enjoy sustained peace. Emerging economies, including China, have risen collectively, while economic globalization has deepened, turning the world into an interconnected "global village" through expanding cross-border exchanges and the same time, a new wave of technological and industrial transformation is reshaping economies, societies and international relations. The benefits of this largely peaceful era have created a level of global prosperity unprecedented in human beneath the surface of peace flow some turbulent undercurrents. Unilateralism and protectionism are on the rise, with some politicians in the West obsessed with dividing the world along ideological lines, forming exclusive blocs and fueling a "new Cold War" more, the United States openly disregards international norms, engages in economic coercion, imposes punitive tariffs and elevates domestic law above international hegemonic behavior undermines the UN-centered international system, challenges the international order underpinned by international law, and threatens the very foundation of global peace and development. As UN Secretary-General Antonio Guterres has warned, "Everywhere we look, peace is under attack."The world is once again at a crossroads. Should the world uphold multilateralism and seek common ground, or allow unilateralism to grow unchecked? Should the world support more democratic international relations, or accept that power politics rules everything? Should the world follow international law and basic diplomatic norms, or return to a world where the strong dominate the weak?History offers the clearest lessons. Firstly, peace must be defended. The terror of Nazi tyranny and the atrocities in Nanjing Massacre showed that war destroys civilization, while peace allows it to unity is essential for the survival of human civilization. When fascism and militarism were tearing the world apart, the signing of the Declaration by United Nations by 26 nations in 1942 showed that ideological divisions can be overcome, and shared human values can bind nations the tide of history cannot be reversed or resisted. The fall of colonialism, the end of the Cold War and the rise of developing countries all show that the logic of "might makes right" does not last. A multipolar world is the way rules are not tools for the powerful to abuse. Instead, they are the foundation of fairness and justice. The principles in the UN Charter, including sovereign equality and bans on aggression, remind humanity that without rules, the world risks sliding into a victor in World War II as well as a founder and defender of the post-war order, China has consistently stood on the right side of history and on the side of civilization and human advancing high-quality Belt and Road cooperation to launching the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, and from promoting a community with a shared future for mankind to offering ideas and solutions for global and regional challenges, China supports true multilateralism through concrete actions. It is working to make global governance fairer and more balanced, while contributing stability and positive momentum to world peace and majority of the world has come to recognize China as a pivotal force in safeguarding world peace and stability. As noted by UN Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator Tom Fletcher, initiatives China proposed around peace and security, global development and cultural cooperation closely align with the UN's core mission of peacemaking, humanitarian efforts and global concept of "a community with a shared future for mankind" is another key idea that highlights global solidarity and "the world coming together, not pulling apart," Fletcher told Xinhua, adding that such a concept has created "partnerships that we really need if we're to meet the challenges ahead of us, including climate change."As partners who fought side by side in World War II, China and Russia continue to work together today to uphold global strategic stability. They coordinate closely within multilateral frameworks such as the United Nations, the Shanghai Cooperation Organization and BRICS, jointly opposing hegemonism and power politics, and promoting a more multipolar world and economic globalization through true emerging markets and developing countries are rising as a collective force. The awakened Global South is gaining strength, confidence and a greater voice in global governance. The forces for peace and development have never been more writer Victor Hugo once observed: "Memories are our strength. When night attempts to return, we must light up the great dates, as we would light torches." The significance of marking the 80th anniversary of the victory of the World Anti-Fascist War lies in illuminating the path ahead, and reaffirming humanity's unwavering commitment to enduring this new crossroads in history, what humanity needs is not the drumbeat of a new Cold War, but the call for cooperation; not claims of civilizational superiority, but a spirit of shared prosperity; not a return to the law of the jungle, but a renewed commitment to a shared by following this path can the world prevent the tragedies of history from repeating themselves and turn the vision of lasting peace and sustainable development into reality.■
Al Anbat News
07-05-2025
- Business
- Al Anbat News
Coinciding With the Launch of Infrastructure Development for Phases Two, Three, and Four, King Hussein Business Park Has Signed Two Investment Agreements With Reynolds Asset Management and Canvas to Establish a Business-Class Hotel and Serviced Apartments
الأنباط - Coinciding With the Launch of Infrastructure Development for Phases Two, Three, and Four, King Hussein Business Park Has Signed Two Investment Agreements With Reynolds Asset Management and Canvas to Establish a Business-Class Hotel and Serviced Apartments (Amman, Jordan – May 7, 2025): The King Hussein Business Park (KHBP) and Reynolds Asset Management, a US-based real estate investment and development firm, have signed two significant investment agreements. Reynolds Asset Management, known for its residential developments along the US East Coast and in high-growth markets, is investing in two distinct projects: a business hotel as well as modern service apartments offering flexible living spaces and comprehensive amenities. The agreements were formalized by Ammar Izziddin, CEO of King Hussein Business Park, and Louis Reynolds, CEO of Reynolds Asset Management. Alongside government officials and media representatives, the signing ceremony was attended by executive project partners, Amjad Hunaiti and Frank Ghusson. This collaboration marks a major milestone in KHBP's second, third, and fourth phase development, coinciding with the commencement of infrastructure upgrades and site preparation. The agreements represent a strategic expansion of the park's vision to attract foreign investment, create job opportunities, and develop sustainable, mixed-use environments that meet the needs of businesses and urban communities—positioning KHBP as a vibrant, inspiring destination. The hotel and service apartment projects will play a key role in advancing the Park's strategic objectives. As significant economic drivers, these developments will contribute to the diversification of Jordan's economy and further expand its urban, economic, and investment achievements. The projects align with a broader national vision to position the Kingdom as a regional hub, not only for investment across traditional and emerging sectors but also as a desirable destination for work and living, in accordance with royal directives and the goals of the Economic Modernization Vision. Beyond their economic value, the developments are expected to drive activity across various sectors including engineering, construction, ICT, and services. The project will generate direct and sustainable job opportunities, with a focus on Jordanian youth employment and local workforce development through training programs and community engagement. The hotel will combine elegant architecture with contemporary amenities to offer a premium hospitality experience for business travelers and tourists. In addition, the service apartments will include modern, fully equipped units tailored to the needs of long-term guests, investors, and professionals working in the Kingdom. Both developments will be built with a commitment to environmental sustainability, reflecting the green principles embedded in KHBP's second and third development phases. Ammar Izziddin expressed pride in the partnership and lauded the official attendance as a testament to the park's growing global appeal as a destination for investment. He emphasized that the agreements reflect KHBP's strong track record and the continued commitment to building on the success of the first phase by introducing new, high-impact components that support the growth of a thriving, integrated community built for sustained innovation. On the other hand, Louis Reynolds described the venture as a promising investment opportunity. He highlighted the strong reputation and business-enabling advantages of King Hussein Business Park, particularly its world-class infrastructure and advanced ICT capabilities, as key factors that reinforced investor confidence in Jordan. Reynolds further noted that this project represents a valuable addition to Reynolds Asset Management's growing portfolio and marks an important step in its expansion into new markets, in close collaboration with its executive partners. It is worth noting that Phases Two and Three of the King Hussein Business Park will be implemented at an estimated cost of JOD 8.5 million, covering a total area of 463 dunums with specific development allocations subject to adjustment. The new phases will introduce a wide range of facilities, including commercial buildings, roads, parking, green spaces, offices, retail spaces, and dedicated buildings for data storage and medical simulation. This is in addition to the hotel, service apartments, and various entertainment and sports facilities, creating an integrated environment after having redefined real estate investment since its inception. -END- About King Hussein Business Park (KHBP): King Hussein Business Park is one of Amman's most dynamic and strategically located business hubs. Established in 2010 and developed by the Business Park Company, KHBP offers an integrated and secure environment for leading local, regional, and international companies. Its innovative, mixed-use urban design combines business, residential, hospitality, and recreational spaces, all built to international sustainability and environmental standards. The park fosters a vibrant commercial ecosystem with world-class infrastructure, promoting investment, business growth, and community well-being. It aims to shape the future of business and urban development in Jordan through continuous expansion and smart planning, with integrated, multi-use projects centered on people. It also seeks to strengthen its position as a fully integrated, technologically advanced smart city that fosters creativity and innovation in Jordan and across the region. Today, KHBP is home to over 295 startups, 85 local companies, 24 regional firms, and 20 international corporations, employing approximately 8,000 professionals across diverse sectors. The park presents unique investment opportunities through a comprehensive master plan that seamlessly integrates business, residential, hospitality, and retail spaces. As part of its long-term development strategy, KHBP is launching its second phase, covering 463 dunums. This next phase will offer new investment opportunities across a wide range of areas, including commercial buildings, roadways, parking, green spaces, offices, retail outlets, data centers, medical simulation facilities, a hotel, service apartments, and various recreational and sports amenities. About Reynolds Asset Management: Reynolds Asset Management is a vertically integrated real estate investment and development firm headquartered in New Jersey. Founded in 2008, the firm primarily focuses on the development and management of multi-unit residential communities along the East Coast of the United States, while also expanding significantly into other regions, including Ohio, Texas, and Louisiana. Committed to growing its real estate portfolio, the firm has recently concentrated on markets experiencing population and economic growth, pursuing a strategy centered on acquiring new projects or enhancing existing communities.
Al Anbat News
27-04-2025
- Business
- Al Anbat News
Careem launches 'Supermarkets' on the app in Jordan with Careem Plus benefits
Careem launches "Supermarkets' on the app in Jordan with Careem Plus benefits Amman, Jordan – 27 April 2025: Careem has launched its Supermarket service in Jordan, allowing customers to order groceries from a growing list of local stores directly through the Careem app. Careem Plus subscribers will get free delivery on most supermarket orders. The service is designed to make grocery shopping more convenient by bringing a carefully selected range of supermarket partners onto one platform. Customers can browse, order, and track their groceries, all within the Careem app, with the added confidence of knowing their items are coming from stores known for quality and freshness. The launch is also a step forward in Careem's plan to grow its Supermarket business in Jordan in 2025. By expanding the number of partners and improving the delivery experience, Careem aims to offer customers more choice and better value, while also supporting merchants with access to new customer segments and tools to grow their business. Farah Odeh, GM of Careem in Jordan, commented: "We're excited to bring Supermarkets to the Careem app and give people in Jordan more ways to shop for what they need when they need it. By combining this with Careem Plus benefits, we're making everyday essentials more accessible and affordable, while also creating new opportunities for our merchant partners to grow. Careem will keep expanding with services that matter most to people and make everyday life a little simpler.' Careem launched in Jordan in 2015 and now serves customers in Amman, Irbid, and Zarqa. It has made life easier for millions in Jordan and provided tens of thousands of earning opportunities for Captains. Careem Jordan offers a wide range of services to cater to the diverse needs of its customers including ride-hailing, food delivery, shop delivery, supermarket delivery, Careem DineOut, and customer and corporate on-demand delivery service (Careem Box & Express). Careem Plus is a monthly subscription service that offers exclusive discounts and benefits on Careem services. Customers can access the full range of Careem's services by downloading the latest version of the app from Apple App Store, Google Play, or via direct Android download. -END- About Careem Careem is building the Everything App for the greater Middle East, making it easier than ever to move around, order food and groceries, manage payments, and more. Careem is led by a powerful purpose to simplify and improve the lives of people and build an awesome organization that inspires. Since 2012, Careem has created earning opportunities for over 2.5 million Captains, simplified the lives of over 70 million customers, and built a platform for the region's best talent to thrive and for entrepreneurs to scale their businesses. Careem operates in over 70 cities across 10 countries, from Morocco to Pakistan.
