Revival in Jordan Markets after Early Disbursal of Salaries

People stand in line to buy bread at a bakery in Amman, Jordan, January 26, 2018. (Reuters)
People stand in line to buy bread at a bakery in Amman, Jordan, January 26, 2018. (Reuters)
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Revival in Jordan Markets after Early Disbursal of Salaries

People stand in line to buy bread at a bakery in Amman, Jordan, January 26, 2018. (Reuters)
People stand in line to buy bread at a bakery in Amman, Jordan, January 26, 2018. (Reuters)

Jordanian markets were revitalized in recent days after Prime Minister-designate Omar Razzaz ordered the early payment of salaries.

The rejuvenation coincided with the final days of the holy fasting month of Ramadan and the Fitr holiday that celebrates the end of the month. Market activity was noticeable at department stores and markets in western Amman, Abdoun and Jabal Al Hussein.

Markets were hit by recent protests against a contentious draft tax law. Razzaz’s appointment has eased the tensions.

The Consumer Protection Society (CPS) called on housewives against buying groceries on the eve of the Fitr holiday to avoid scams.

The Society also called on business owners to take into consideration the difficult economic situation in the country and avoid hiking prices.

In a related context, the Department of Statistics issued its monthly report on the record rate of inflation.

Figures showed that inflation in May reached 124.9 points compared to 118.9 for the same month in 2017.

The report showed that the record rate of consumer’s prices for the first five months of this year rose 4.1 percent compared to the same period in 2017.

Some commodities that contributed to this rise are tobacco (0.68 percent), rentals (0.43 percent) and fuel (0.29 percent). Major commodities whose prices dropped were vegetables and legumes (0.46 percent), clothes (0.05 percent) and shoes (0.01 percent).



Saudi Arabia Joins International Partnership for Hydrogen and Fuel Cells in the Economy

Officials from the Saudi Energy Ministry after the official announcement of joining the International Partnership for the Hydrogen and Fuel Cells in the Economy (Saudi Energy Ministry)
Officials from the Saudi Energy Ministry after the official announcement of joining the International Partnership for the Hydrogen and Fuel Cells in the Economy (Saudi Energy Ministry)
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Saudi Arabia Joins International Partnership for Hydrogen and Fuel Cells in the Economy

Officials from the Saudi Energy Ministry after the official announcement of joining the International Partnership for the Hydrogen and Fuel Cells in the Economy (Saudi Energy Ministry)
Officials from the Saudi Energy Ministry after the official announcement of joining the International Partnership for the Hydrogen and Fuel Cells in the Economy (Saudi Energy Ministry)

The Saudi Energy Ministry announced Saturday that the Kingdom has officially joined the International Partnership for the Hydrogen and Fuel Cells in the Economy (IPHE), as part of its ongoing efforts to foster international collaboration in developing this vital sector.
This accession marks a major step for the Kingdom, reinforcing its pioneering role in global sustainability efforts and in innovating advanced solutions for clean energy, the Ministry said in a statement.
It aligns with Saudi Arabia’s ambition to become a key producer and exporter of clean hydrogen, and to achieve greenhouse gases (GHGs) net-zero through the circular carbon economy approach by 2060, or before depending on technology maturity and availability, the statement added.
Saudi Arabia’s involvement in IPHE underscores its commitment to international cooperation as a cornerstone for attaining a more sustainable energy future.
The move also supports the objectives of the “Saudi Green Initiative” and “Middle East Green Initiative,” which focus on reducing carbon emissions and stimulating global demand for clean hydrogen, according to the statement.
"It also aims to contribute to the development and harmonization of regulations and standards that bolster the clean hydrogen economy,” it added.
IPHE serves as a crucial platform for fostering collaboration among member states to expedite the advancement and deployment of hydrogen and fuel cell technologies.
The partnership is dedicated to exchanging knowledge, supporting relevant research and technologies, and raising awareness about the importance of clean hydrogen in achieving sustainable development.
In this spirit, Saudi Arabia actively participates in numerous international organizations and initiatives linked to the production of clean and low-emission fuels, including the Innovation Mission Initiative, the Clean Energy Ministerial Meeting, the Zero Neutrality Forum for Producers, the Global Methane Initiative, and other related efforts.