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Country risk, from the local press

Jordan · Country watch

Iraq Oil Deal Lapses, Aqaba Hotels Surge

Jordan faces a $20 million annual cost as the Iraq oil deal lapses, while Aqaba hotels see a tourism boom with 93% occupancy.

· · 3 sources

The picture Mixed

Jordan's business conditions are mixed today. The lapse of the Iraq oil deal increases costs for energy importers, while Aqaba's tourism surge boosts local sectors. Regional tensions with Iran could affect stability.

In this briefing Aqaba · Jordan · هاشم عقل · Iraq · Donald Trump · Iran

Regulation

Nothing significant reported today.

Disruption

Nothing significant reported today.

Internal tension

Nothing significant reported today.

Safety & health

Nothing significant reported today.

Companies

  • tourism
  • retail

Aqaba hotels reach 93% occupancy amid tourism surge

a view of a desert with many tents in the middle of it
Moxin Wang / Unsplash

Aqaba's hotels have reported a 93% occupancy rate due to a surge in festival tourism, according to Jordan News. The influx of visitors attending concerts and cultural events has also boosted spending in local restaurants and retail outlets. This trend highlights the potential for increased economic activity in the region, benefiting the hospitality and retail sectors.

Impact Aqaba's hospitality and retail sectors benefit from increased tourism, with hotels at 93% occupancy and higher local spending.

Sources: Jordan News ↗

Markets

Nothing significant reported today.

Trade

  • energy

Jordan loses $20 million as Iraq oil deal lapses

Jordan will face an annual financial loss of approximately $20 million due to the non-renewal of its crude oil import agreement with Iraq, according to energy expert Hashim Aqel, as reported by Jordan Zad. The agreement had provided Jordan with a cost advantage in sourcing oil. Without renewal, Jordan must seek alternative supplies at higher prices, impacting the national budget and energy sector.

Impact Jordanian energy importers face increased costs as the Iraq oil deal lapses, impacting the national budget by $20 million annually.

Sources: Jordan Zad ↗

Politics

  • defence

Trump hints at major decisions on Iran

U.S. President Donald Trump suggested that significant decisions regarding Iran are imminent, according to Assabeel. Trump mentioned options including economic sanctions or military action, indicating that the U.S. is considering various strategies to address tensions with Iran. This development could influence regional stability and security, impacting Jordan's defense and diplomatic considerations.

Impact Jordan's defense and diplomatic sectors may need to adjust to potential U.S. actions on Iran, affecting regional stability.

Sources: Assabeel ↗

Also today in Jordan

Sources in this briefing

Sources: each headline links to the original article on the publisher's site.

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