
Jordan: Fuel pricing committee lowers gasoline prices, raises diesel for August
Based on international market trends in July, the committee reduced the price of unleaded 90-octane gasoline to JD0.850 per litre for August, down from JD0.860 in July, according to an Energy Ministry statement.
The price of unleaded 95-octane gasoline was also lowered to JD1.075 per litre, compared with JD1.085 the previous month. Diesel will be sold at JD0.690 per litre in August, up from JD0.675 in July.
The price of kerosene remains unchanged at JD0.620 per litre, while the price of a 12.5kg household gas cylinder stays fixed at JD7, the committee announced.
The committee meets monthly to review global oil price movements and adjust local fuel prices accordingly. The average price of Brent crude oil in July stood at approximately $70.9 per barrel, compared to $71.6 per barrel in June, the statement said.
Also on Thursday, Chairman of the Board of Commissioners of the Energy and Minerals Regulatory Commission (EMRC) Ziad Saida announced that the commission has decided to set the fuel price difference charge on electricity bills for August 2025 at zero.
Saida noted that the approved rate remains unchanged from that of July.
© Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Khaleej Times
an hour ago
- Khaleej Times
UAE leads youth-driven startup surge in the Middle East
Entrepreneurial ambition among young people in the Mena region is on a sharp rise, with 46 per cent of workers expressing interest in starting their own business. Nowhere is this intent more visible than in the UAE, where a dynamic ecosystem of startups and small and medium enterprises (SMEs) is enabling youth to turn vision into reality. A new PwC Middle East report, Future Ready Mena, highlights the urgent need to strengthen entrepreneurial capabilities across the region. It notes that the survival rate of small businesses doubles when guided by experienced mentors, and that mastery of emerging technologies — from artificial intelligence to digital commerce platforms — has become critical as the global workforce braces for the disruption of more than a billion jobs by 2030. The UAE's record in fostering entrepreneurship is already world‑leading. According to the 2024–2025 Global Entrepreneurship Monitor (GEM), the nation ranks first globally for the fourth consecutive year as the best destination for startups and SMEs, surpassing 55 other economies. It leads in 11 out of 13 indicators that measure institutional support for entrepreneurship, including access to financing, regulatory ease, integration of entrepreneurship in education, and supportive cultural attitudes toward enterprise creation. SMEs are a cornerstone of the UAE's non‑oil economy, numbering around 557,000 and contributing an estimated 63.5 per cent of non‑oil GDP. That share is expected to rise as the nation pushes towards its target of one million SMEs by 2030, driven by an expanding digital economy, government funding programmes, and improved access to financial services. The third edition of the Mastercard SME Confidence Index shows that 91 per cent of SMEs in the UAE are optimistic about their business prospects this year, while 90 per cent expect revenue to match or exceed 2024 levels. The country's startup scene is equally vibrant. More than 5,600 active startups operate in the UAE, the highest number in the GCC. In May 2025 alone, these ventures attracted nearly $87 million in funding across 14 deals. Abu Dhabi's Hub71 has become a key catalyst, hosting over 260 startups as of mid‑2023 and offering equity‑free incentives, investor introductions, and global market access. In Sharjah, the Sheraa entrepreneurship centre has helped over 450 startups raise $297 million in capital and generate $372 million in revenue, with more than half being women‑led. This growth in entrepreneurial activity is supported by evolving education and cultural attitudes. Surveys among Emirati university students show a strong correlation between self‑confidence, institutional support, and entrepreneurial intention. While public sector careers remain attractive, a growing share of youth see business ownership as a viable, even preferred, career path. PwC's report recommends that governments, educators, and the private sector collaborate to expand structured entrepreneurship education, develop mentorship networks, empower women entrepreneurs, and promote technological proficiency. Programmes such as university incubators, government‑backed accelerators, and industry‑linked training are critical in translating youth ambition into scalable enterprises. The UAE already has a track record of producing high‑growth, tech‑driven ventures. Success stories like Talabat, Tabby, Swvl, and Tamara demonstrate how digitally native business models can rapidly scale when built on a foundation of entrepreneurial agility and strong market understanding. The World Economic Forum notes that Gulf states benefit from a maturing startup environment, strong investment flows from sovereign wealth funds, and regulatory innovation that reduces barriers for new businesses. Nearly 49 per cent of GEM's global respondents cite fear of failure as a barrier to launching a business, a sentiment shared by many in the region. But policymakers and investors in the UAE are addressing these concerns with simplified licensing processes, early‑stage funding opportunities, and structured mentoring support designed to build resilience among young founders. The convergence of strong youth ambition, robust ecosystem frameworks, and institutional backing positions the UAE as a model for inclusive, sustainable entrepreneurial growth in the Mena region. Yet experts stress that maintaining this momentum will require deeper mentorship engagement, embedding entrepreneurship across all levels of education, and ensuring equal opportunities for women and underrepresented groups. As PwC Middle East's education lead Roland Hancock points out, entrepreneurial capabilities extend far beyond traditional business knowledge. 'It's about adaptability, creativity, problem‑solving, and digital fluency. By investing in these capabilities now, the region can unlock the full potential of its youth and establish itself as a global hub for innovation and industry leadership.'


Khaleej Times
an hour ago
- Khaleej Times
IHC posts Dh10.8b H1 profit on strong diversified growth
International Holding Company (IHC) has delivered a strong first-half performance for 2025, posting revenue of Dh54.7 billion, up 31.1 per cent from Dh41.7 billion a year earlier, and a net profit of Dh10.8 billion. The Abu Dhabi‑based global investment group credited the results to disciplined strategic investments, portfolio strength across multiple sectors, and one of its best‑ever second quarters. Q2 revenue climbed 22.5 per cent year‑on‑year to Dh27.5 billion, while net profit surged 55.3 per cent to Dh6.7 billion, reflecting higher operating leverage and sustained demand across core verticals. Real estate and construction remained the largest revenue contributor, generating Dh22.6 billion in H1, up 47.8 per cent, supported by strong project pipelines and resilient market demand. Marine and dredging operations added Dh14.1 billion, rising 10.8 per cent, while hospitality and leisure nearly doubled turnover to Dh4.9 billion as global travel demand returned strongly. Financial services revenue rose 21.4 per cent to Dh1.8 billion, and energy operations delivered Dh400 million, up 161.3 per cent, highlighting the breadth of IHC's diversification strategy. Earnings per share increased to Dh2.49, with return on equity at 10.8 per cent. Total assets reached Dh436.9 billion as of June 30, 2025, up 8.7 per cent since year‑end 2024. 'Our H1 2025 results reflect the continued strength of IHC's diversified model and the disciplined execution of our strategic investment agenda,' said Syed Basar Shueb, CEO of IHC. 'By delivering outstanding portfolio performance and enhancing operating leverage, we are unlocking value across sectors while deepening our impact in regional and global markets.' The company advanced several major strategic initiatives in the first half. It launched Gridora, a joint venture with ADQ and Modon to deliver strategic infrastructure projects across the UAE and abroad, and unveiled RIQ, an Abu Dhabi Global Market‑based AI‑driven reinsurance platform developed with BlackRock and Lunate, backed by over $1 billion in equity and targeting liabilities exceeding $10 billion. In a push into digital finance, IHC joined ADQ and First Abu Dhabi Bank to pioneer a UAE dirham‑backed stablecoin aimed at enhancing payment systems and blockchain adoption. The group also took a leading role at the 2025 World Economic Forum in Davos, engaging with policymakers, investors, and industry leaders to promote sustainable investment and global collaboration. M&A activity remained a key growth lever. Multiply Group acquired a controlling 67.91 per cent stake in European fashion retailer Tendam, while IHC took a 69.33 per cent interest in Reem Finance to bolster its financial services footprint. The group also acquired and rebranded SME financing platform eFunder as Zelo, targeting the $250 billion SME credit gap in the UAE with digital invoice financing solutions. Other investments expanded IHC's reach across high‑growth sectors. Modon entered the UK property market with a 50 per cent joint venture in London's 2 Finsbury Avenue development. Al Ain Farms acquired Al Jazira Poultry Farm for Dh255 million, boosting its domestic poultry portfolio. In energy, NMDC Group bought 70 per cent of oilfield services firm Emdad, while Esyasoft purchased UK‑based Good Energy in a Dh453 million deal to strengthen renewable energy and EV mobility capabilities. Healthcare remained a priority growth sector. PureHealth, an IHC subsidiary, completed a landmark $2.3 billion acquisition of a 60 per cent stake in Greece's largest private healthcare provider, Hellenic Healthcare Group, reinforcing its European expansion. The group also increased its logistics footprint through Aldar's acquisition of integrated logistics assets in Almsrkaz from Waha Capital for Dh530 million, adding income‑generating properties across Abu Dhabi, DIP, Jebel Ali, and Dubai South. Shueb emphasised that IHC is shaping 'the industries of tomorrow' by connecting innovative businesses with long‑term capital and operational expertise. 'Our platform is built for scalable and sustainable global relevance,' he said. 'We remain committed to being a catalyst for economic transformation and delivering enduring value to shareholders and stakeholders.'


Arabian Business
2 hours ago
- Arabian Business
Parkin, Dubai Holding partner to deliver smart parking solutions in Dubai
Dubai's foremost provider of paid parking facilities, Parkin Company PJSC (Parkin), has formalised a collaboration with Dubai Holding, the global investor managing projects in over 30 countries. This strategic agreement marks a pivotal step toward smarter, digitally powered mobility across several master‑planned communities in the emirate. Parkin will now operate and manage 29,600 paid parking spaces, bringing its total portfolio of developer‑owned facilities to approximately 50,400 spaces. The initiative will officially be deployed in the middle of the third quarter of 2025. Expanding smart parking across Dubai Parkin will deliver end‑to‑end management across the expanded portfolio, deploying cutting‑edge digital systems, real‑time analytics, and enforcement technology to elevate operational efficiency. Designed to ease pressures on parking availability, the new system promotes: Optimal utilisation of parking capacity Enhanced urban connectivity and accessibility Reduced traffic congestion Fortified smart mobility infrastructure in key residential and mixed‑use zones A more efficient daily experience for both residents and visitors Eng. Mohamed Abdulla Al Ali, CEO of Parkin, highlighted this deal as a cornerstone in the company's expansion within the private developer sector. 'This strategic partnership with Dubai Holding strengthens our presence in the private developer parking segment, enabling us to extend our market-leading parking solutions across key communities in the emirate, while delivering integrated urban mobility experiences that enhance our customers' quality of life. 'The operational rollout will proceed in phases, fully aligned with Parkin's rigorous operational standards and commitment to improving efficiency and day-to-day convenience. This collaboration represents a key milestone in Parkin's expansion strategy and underscores our dedication to continue developing efficient, sustainable and resident-centric infrastructure in support of Dubai's ongoing expansion'. This initiative not only broadens Parkin's operational footprint in the private sector but also reflects a shared ambition with Dubai Holding to drive technological investment and elevate the emirate's urban mobility landscape.