Category: Jordan

Shtayyeh calls on Arab banks to create Palestine Investment Fund

Dead Sea – Al-Quds.com

President of the Palestine Economic Council for Development & Reconstruction (PECDAR), Dr. Mohammed Shtayyeh, has called on Arab banks to create an investment fund for Palestine, the monies of which would support productive projects, especially those in sectors which generate jobs, or are run on a for-profit, rather than a charitable, basis. During his speech at the “Reality of the Palestinian Financial Sector: Opportunities and Challenges” conference, Dr Shtayyeh said “Palestine is daring and the Arabs are daring, let capital be daring also.” The conference, organised by the Union of Arab Banks, takes place at the Dead Sea in Jordan today and tomorrow.

Dr Shtayyeh stressed the role of the private sector in the gradual disengagement from colonial dependency imposed on us by the occupation. He indicated that there is an official preference for strengthening economic relations with the Arab world. The Palestinian economy could act as a winch for policy decisions, he said, and enable local products to take the place of the Israeli products in our markets, and bolster the positions of our people in Jerusalem.

Shtayyeh laid out a picture of the economic situation to Arab investors and banking representatives, analysing the disturbances in the structure of the Palestinian economy caused by the occupation, as a result of the control over resources and borders. He said that despite all the challenges, there have still been success stories, such as the success of the banking sector, noting that the size of deposits in Palestinian banks is approximately 12 billion dollars. He added that the amount of corporate funds traded on the Palestinian securities market is valued at almost 3.5 billion dollars, and that there are about 115 thousand stockholders in companies listed on the Palestinian stock exchange.

Dr Shtayyeh explained that Palestinian banks are working under exceptional circumstances as a result of the occupation, which necessitates exceptional treatment to address the obstacles which they face. He asked Arab banks to grant facilities for productive loans, and to make it a priority to encourage investors to develop projects which would create jobs. He continued by saying that the private sector must be the principal creator of employment, and that it is unhealthy for the Palestinian Authority to remain the largest employer of the Palestinian workforce.

A number of challenges lie ahead for the Palestinians, Shtayyeh told the conference. First is the extremist government in Israel, which does not want a solution, and which undermines the Palestinian state through a tight grip on Area C, the Jordan Valley, Jerusalem, and the Gaza blockade, and its further attempts at “settlement bleaching” and its striving to make settlement legal. As for the second challenge, according to Shtayyeh, that resides with the new American establishment, which has not yet fully expressed its foreign policy, despite all the negative press which it has received. The third challenge is the weakening of Arab nations, and the destructive conflicts which it is experiencing, while finally the fourth challenge is to end the division and if there is a will, to work towards a possible solution for the conflict.


Translated by Conor Fagan

Original article found here.

‘Violent clashes in the city of Ma’an in south Jordan’, BBC Arabic (London), 25th April 2014

‘Violent clashes in the city of Ma’an in south Jordan’

Reports are coming in from Jordan of the renewal of violent clashes between security forces and a number of the residents of the city of Ma’an in the south of the country. Eyewitnesses say that clashes broke out in the Hijaziah and Shamiah districts in addition to the area around the security headquarters in the north of the city.

Continue reading

‘Approximately 83,000 Moroccans visited Turkey in 2013,’ Hespress (Morocco), 10 February 2014

Turkey witnessed 9% growth in the number of tourists coming from Arab states last year, with over 3 million Arabs visiting the country for a number of reason. Tourists come to Turkey from around the Middle East for a variety of reasons, including shopping opportunities, hair transplants and to purchase homes. Continue reading

‘Jordanian sheikh: God bequeathed Palestine to the Jews,’ Erem News (UAE), 2 February 2014

Jordanian sheikh Ahmed Adwan believes that the demand for a Palestinian state is baseless and an attack on Jews and their rightful claim to the Holy Land, as written in the Qur’an.

Continue reading

‘Karak sit-in: Kerry’s plan is to liquidate the Palestinian Cause,’ al-Ghad (Jordan), 31 January 2014

The Karak Governorate of Jordan witnessed a demonstration today in which protesters demanded reform and called US Secretary of State John Kerry’s Middle East Peace Plan an attempt to liquidate the Palestinian cause at the expense of Jordanians and Palestinians.

Continue reading

‘Canadian Prime Minister visits Zaatari refugee camp and Petra,’ al-Ghad (Jordan), 24 January 2014

Canadian Prime Minister Stephen Harper visited the Zaatari refugee camp for Syrian refugees today to see first hand the living conditions of residents and the current humanitarian assistance available to them. Harper also traveled south to the ancient city of Petra, a popular destination for tourists and one of the Seven Wonders of the World.

Continue reading

‘Momani: Canadian Prime Minister’s visit is important for Jordan,’ Moheet (UAE), 23 January 2014

Jordan’s Minister of Media Affairs and official government spokesperson Mohammed Momani stressed the important of Canadian Prime Minister Stephen Harper’s current trip to the kingdom. The two countries signed a free trade agreement that came into effect in 2012 and are looking to further strengthen bilateral relations and economic cooperation.

Continue reading

‘Prime Minister and his Canadian counterpart discuss bilateral relations and the latest developments in the region,’ ad-Dustour (Jordan), 23 January 2014

Canadian Prime Minister Stephen Harper continues his visit to the Middle East. Today he was in Amman and met with Jordanian Prime Minister Abdullah Ensour to discuss further opportunities for economic cooperation between the two countries. Canada will provide Jordan with $100 million over the next five years to assist in further developing the country’s infrastructure. Waves of Syrian refugees are adding to the “burden” already placed upon Jordan by Palestinian refugees.

Continue reading

‘Canadian Prime Minister in Amman today,’ al-Rai (Jordan), 22 January 2014

Canadian Prime Minister Stephen Harper arrived in Amman today on an official visit to Jordan. The PM is scheduled to hold talks with King Abdullah II about the ways to strengthen bilateral relations, investment and tourism between the two countries, as well as current developments in the Middle East generally.

Continue reading

Signing of an agreement to extend pipeline between the Red Sea and the Dead Sea, Al-Quds (Palestine), 9 December 2013

Israeli, Jordanian and Palestinian representatives will sign an agreement today in Washington to build a 180 km pipeline from the Red Sea to the Dead Sea. The pipeline will transfer 100 cubic metres of water annually to save the rapidly shrinking Dead Sea from the effects of drought.

Continue reading