AGP Executive Report

Energy & Trade Shock: Iran says it has shut the Strait of Hormuz to all shipping in retaliation for U.S. airstrikes, raising fears of major disruption to the route that carries about a fifth of global oil and pushing insurers and shipping firms to pause operations. Regional Security: The U.S. and Iran trade strikes again as Jordan, Bahrain and Kuwait face renewed risk, while diplomacy over a possible Iran deal remains fragile. Jordan’s Growth Outlook: The World Bank projects Jordan’s economy growing to about 3% by 2028, with 2.7% this year, and points to fertilizer exports as a buffer against regional shocks. Business Links: Amman Chamber of Commerce meets the Czech ambassador to boost investment and trade, while Jordan Exporters Association discusses expanding industrial cooperation with South Korea. Customs & Logistics: Clearance companies processed 395,000 customs declarations in Jordan in the first five months, and Aqaba port handling rose 38% year-on-year. Gold Prices: Local gold prices ticked up, with 21-karat selling around JD 86.60 per gram. Local Economy & Governance: Jordan’s Audit Bureau urges stronger digital oversight and governance as arrears and unemployment pressures stay in focus.

Energy & Trade Risk: Iran says it has shut the Strait of Hormuz to all shipping from June 11, escalating after US airstrikes and raising fears of major oil-price shocks and higher insurance costs as global traffic is disrupted. Regional Security: The US says it downed Iranian one-way drones and warns the ceasefire is under strain, while Iran targets US-linked sites in Kuwait, Bahrain and Jordan. Jordan’s Growth Outlook: The World Bank projects Jordan’s economy will grow to about 3% by 2028, helped by fertiliser exports, even as regional instability and higher energy/shipping costs weigh on the wider MENAP region. Local Economy & Finance: Jordan’s Central Bank issued $211.5m in Treasury bonds, while commentary highlights caution in Jordanian bank lending and the need for stronger digital oversight. Energy Potential Debate: Jordanian experts argue the Kingdom’s gas, oil shale and minerals are underdeveloped and call for rebuilding geological exploration capacity to unlock public-revenue gains. Business & Marketing: Forbes Middle East lists seven Jordanian professionals among “Most Powerful Marketing Leaders 2026,” signaling continued regional influence from Jordanian talent.

World Bank Outlook: Jordan’s economy is projected to grow to about 3% by 2028, with 2.7% this year and 2.9% in 2027, as fertiliser exports help cushion energy-dependent pressures. Central Banking: The Central Bank of Jordan issued $211.5m in Treasury bonds, while foreign reserves rose to $27.18bn in May. Energy & Resources: An energy expert says Jordan has major untapped gas, oil and mineral potential, arguing that weaker exploration capacity has held back investment and revenue gains. Trade & Connectivity: Reports highlight momentum on regional transport corridors, with Turkey and Saudi Arabia signing rail and logistics memorandums that could route more trade through Jordan-linked land options. Business Finance: Valu Jordan partners with MEPS and PayTabs to expand BNPL across in-store and online payments. Governance: Jordan’s Audit Bureau calls for stronger digital oversight and governance. Security & Risk: Jordan says it intercepted 20 missiles over Azraq as US-Iran tensions flare, keeping regional uncertainty front and center for business planning.

Middle East Risk for Trade: The US launched airstrikes on Iran after blaming Tehran for a helicopter crash, and Iran retaliated by targeting countries hosting US troops including Jordan—raising fresh uncertainty over any ceasefire and the wider cost of oil and shipping. Jordan’s Energy Potential: Energy expert Mubarak Al-Tahrawi told Radio Al-Balad that Jordan has large, underused gas, oil-shale and mineral resources, arguing that rebuilding exploration capacity and investing properly could boost public revenues and reduce debt. Water Infrastructure Deal: Jordan’s Ministry of Water said only the Meridiam–Suez consortium submitted a complete bid for the National Water Carrier Project after other shortlisted groups withdrew or failed to submit final offers. US Investment Push: Jordan’s energy and investment ministers wrapped up a US visit focused on attracting capital to oil and gas exploration, strategic minerals and gas infrastructure, including the Risha-to-Arab Gas Pipeline link. Aqaba Logistics Momentum: Aqaba ports reported 38% growth in handled cargo volume in early 2026, reaching about 2.8m tonnes, driven by higher efficiency and transit shipments. Regional Security Ties: Jordan and Nigeria signed an MoU to deepen defence cooperation and intelligence sharing, including counter-terrorism, joint training and defence research. ASE Index Watch: The Amman Stock Exchange saw mixed movement this week, with reports of index gains and declines alongside turnover updates. Tourism & Business Calendar: Jerash Festival’s 40th edition under Royal patronage is set for July 22–Aug 2, reinforcing Jordan’s cultural tourism pipeline.

Water Infrastructure: Jordan’s Ministry of Water says Meridiam–Suez is the only complete bidder left for the National Water Carrier Project after other consortia withdrew or failed to submit final bids, keeping the tender alive for a major BOT-style push. Energy & Investment: Energy and Investment ministers wrapped up a US visit focused on oil, gas and strategic minerals, spotlighting the Risha-to-Arab Gas Pipeline project as a key energy-security investment case. Trade & Logistics: Aqaba ports logged 38% growth in handled cargo in the first week of June 2026 vs last year, reaching about 2.8m tonnes, with more ships and higher efficiency—plus continued transit demand linked to Iraq. Regional Security: The US and Iran traded fresh strikes again, with Jordan reporting it intercepted 20 missiles as regional tensions flared and ceasefire talks faced renewed strain. Finance & Markets: The Central Bank of Jordan issued $211.5m in Treasury bonds, while local gold prices fell to 83.8 JOD/gram for 21-karat. Business Tech: Valu Jordan partnered with MEPS and PayTabs to expand BNPL across in-store and online payments via Jordan’s merchant network. Tourism & MICE: The ICCA Middle East Summit opened at the Dead Sea, underlining Jordan’s push to grow meetings and conferences as an economic engine.

Middle East Security: The US and Iran traded airstrikes for a second straight day after Trump warned Tehran would “pay the price” for stalled talks, with Iran firing at Bahrain, Kuwait and Jordan and the Strait of Hormuz again at the center of energy-market fears. Jordan Regional Impact: Jordan received warnings from the US Embassy in Amman about missiles/drones in its airspace, while reports said Iran targeted Jordan-linked sites; Kuwait briefly closed airspace and Bahrain reported damage from interceptions. Energy & Trade Watch: The renewed escalation threatens maritime navigation and global oil flows, keeping pressure on prices and shipping routes that matter to Jordan’s import bill. Humanitarian Corridor: In a separate Jordan-linked development, 34 Gaza children returned to the enclave after medical treatment in Jordan under the Jordanian Medical Corridor, coordinated with the JAF, MoH and WHO. Business & Investment Angle: Energy expert Mubarak Al-Tahrawi renewed calls to better develop Jordan’s gas, oil shale and mineral potential to cut debt and lift revenues.

Middle East Security: The U.S. launched airstrikes on Iran after blaming Tehran for the downing of an American Apache helicopter near the Strait of Hormuz, and Iran retaliated by targeting U.S. bases in Jordan, Kuwait and Bahrain—raising fresh fears for the fragile ceasefire. Energy & Trade Risk: The clash is also hitting oil and shipping dynamics, with the U.S. disabling an Iranian-linked tanker in the Gulf of Oman and warning of further action. Jordan-EU Positioning: A European Union human-rights envoy highlighted Jordan’s role as a trusted EU partner and stability anchor amid regional turmoil. Jordan Economy & Policy: Jordan’s cabinet approved key economic measures, including a wage increase and moves to support national industry and public services. Energy Resources Outlook: An energy expert renewed calls to better develop Jordan’s gas, oil shale and mineral potential to boost revenues and reduce public debt. Business Finance: Central Bank data showed foreign reserves rising to $27.18bn in May, while Amman’s stock market saw mixed performance.

Energy & Security: Jordan says its air defences intercepted five Iranian missiles aimed at the Muwaffaq Salti Air Base near Azraq, with no injuries reported, as Iran-US tensions surged after a helicopter crash near the Strait of Hormuz and both sides traded strikes across the Gulf. Regional Trade Impact: Oil prices rebounded after the latest escalation, with crude rising toward the low-$90s as renewed attacks threatened shipping and energy flows. Jordan-Iraq Ties: Prime Minister Jaafar Hassan told Iraq’s Parliament Speaker that Iraq’s security is inseparable from Jordan’s, highlighting concerns over drones and armed groups operating beyond Iraqi state control. Banking & Finance: Jordan Ahli Bank joined J.P. Morgan’s Wire 365 solution, a step aimed at improving cross-border payments connectivity. Business & Investment: A Jordanian energy expert said the Kingdom’s gas, oil shale, and mineral potential—if explored and developed with stronger institutions—could materially boost state revenues and reduce public debt. Tech & Skills: Jordanian startups and corporate access initiatives were discussed alongside broader regional moves to expand cybersecurity education and lab capacity.

Transport Digital Push: Jordan’s Land Transport Regulatory Commission plans a major overhaul of the land transport sector, including rolling out 100 electronic services and expanding regulated intercity buses to 1,000 by 2027, with draft regulations now under review. Banking & Payments: Jordan Ahli Bank has integrated with J.P. Morgan’s Wire 365 to boost 24/7 USD payment processing and reduce delays from holidays and time zones. Public Finance & Wages: Labour Watch says the government’s JOD 30 monthly public-sector and retiree salary increase (for those below JOD 600) is a positive step to protect living standards and support domestic demand, urging similar action in the private sector. Industry Support: The Industry Ministry says the Cabinet raised the price preference for national industrial products in government tenders to 20% to strengthen local manufacturing and jobs. Regional Trade Links: Saudi Arabia and Türkiye signed logistics and railway cooperation MoUs, with plans for overland corridors that could run through Jordan and Syria. Energy & Resources Debate: An energy expert argues Jordan has large, underdeveloped gas, oil shale, and mineral potential, calling for stronger geological exploration institutions. Humanitarian Update: UN agencies warn Gaza’s situation remains volatile, with widespread displacement, rising health risks, and pest-control needs. Security & Water: Water authorities removed illegal pipeline connections in Al-Hasa used for vehicle-washing sprinklers, seizing equipment and preparing legal steps.

South Korea–Jordan Economic Pact: The South Korean government says its economic and trade cooperation agreement with Jordan has entered into force as of June 9, setting a framework for wider cooperation in investment, tourism, agriculture and the environment, with a joint committee planned to track implementation. Public Finance & Spending: Prime Minister Jaafar Hassan urged ministries to start drafting 2027 budgets to meet the constitutional deadline, while the Cabinet also approved a JD30 monthly salary increase for lower-income civil and military employees and retirees below JD600, alongside a plan to cut operational expenses by 15% next year. Health Sector Reform Funding: The Cabinet greenlit a $400m World Bank financing deal (IBRD) for a results-based health sector reform programme running to 2030, targeting better governance in public hospitals, stronger primary care, earlier detection of non-communicable diseases, and digital integration. External Stability Watch: Jordan’s foreign reserves rose to $27.18bn at end-May, covering about 9.5 months of imports, with CBJ citing export performance and steady remittances. Regional Energy Cooperation: Jordan’s Senate speaker Faisal Al-Fayez and Iraq’s parliament speaker Heibat Al-Halbousi reaffirmed support for extending the Iraqi oil pipeline through Jordan as a mutual economic interest. Trade & Tariffs Risk: U.S. moves under Section 301 forced-labour investigations propose additional tariffs of 10% or 12.5% on imports from 60 economies, with comments due in early July.

Foreign Reserves Watch: Jordan’s foreign reserves rose to $27.18bn at end-May, up from $27.05bn in April, with the Central Bank citing strong exports and steady remittances; reserves cover about 9.5 months of imports. Energy & Resources: A Jordanian energy expert says the Kingdom has large, still-underdeveloped gas, oil and mineral potential, arguing better exploration and investment could boost state revenues and cut public debt. Jordan-Iraq Trade & Energy: Senate President Faisal Al-Fayez and Iraq’s parliament speaker stressed advancing the Iraqi oil pipeline through Jordan, calling it a shared economic and strategic win amid regional shipping pressures. Financial Sector Expansion: IGI secured approval to operate an insurance office in India’s GIFT City, planning to open a branch and build a local team later this year. National Economy Resilience: King Abdullah told economic figures Jordan can withstand crises, urging continued Economic Modernisation Vision implementation and local participation in megaprojects. U.S. Trade Policy Impact: USTR proposed Section 301 forced-labor tariffs on imports from 60 economies, with rates of 10% or 12.5% and a public comment window ahead of a July hearing. Local Business & Connectivity: Orange Jordan wrapped its Ramadan “Great Prizes Await You” campaign, highlighting 5G and fiber offers and announcing the grand prize winner. Regional Stability Angle: Jordan’s PM reiterated that Iraq’s security is inseparable from Jordan’s, focusing on cross-border drone and armed-group risks.

Energy & Resources: Energy expert Mubarak Al-Tahrawi says Jordan has “enormous” gas, oil-shale and mineral potential, arguing that better geological exploration and investment could unlock major state revenues and even a future gas-export role. Human Capital & Health Sector: Jordan is shifting nursing toward an economic-growth lens, while the Crown Prince Foundation and Abdulla Al Ghurair Foundation launch a skills-and-jobs partnership (Nomu) targeting 5,600 youth; the Jordan Medical Association also approved a digital transformation to move physician services online. Trade & Business Events: The Franchise and Trade Agencies Expo 2026 opens in Amman next Tuesday, aiming to connect local and regional investors with franchising, distribution, logistics and sectors including banking and digital transformation. Markets: Amman Stock Exchange trading hit JOD 18.2m with the general index down 0.57% to 4,007 points. Regional Security & Economy: Prime Minister Jaafar Hassan and King Abdullah stressed that Iraq’s security is tied to Jordan’s, with talks also covering energy, electricity and trade cooperation.

Amman Stock Exchange: Trading volume hit JOD 18.2m on Sunday, with the ASE general index slipping 0.57% to 4,007 points; industrial shares fell 2.57%, while financial and services edged down. Government & public services: Prime Minister Jafar Hassan declared Tuesday, June 16 an official holiday for Hijri New Year (Muharram 1, 1448 AH) across most government bodies and fully state-owned companies, with standard work exemptions. Regional diplomacy: Hassan met Iraqi Parliament Speaker Haibat Al Halbousi to reaffirm Amman–Baghdad ties and push cooperation in energy, electricity, trade and private-sector partnerships. Royal-level talks: King Abdullah II also received Halbousi, urging efforts to consolidate the US–Iran ceasefire and warning against attempts to change the status quo in Jerusalem, the West Bank and Gaza. Digital finance in Jordan: Jerusalem Insurance signed with Tawqeey to adopt certified electronic signatures in insurance clearance settlements, aiming to boost security and efficiency in digital transactions. Currency & remittances: Demand for the Jordanian dinar rose on strong expatriate remittances, with expectations of further inflows ahead of summer returns.

Tourism Boost: The UK updated its travel advisory for Jordan, reclassifying most areas as safe and urging British visitors to return for tourism and investment, with only a standard caution near the Syrian border. Trade & Exports: The Amman Chamber of Commerce reported export certificates of origin worth JD 624m in the first five months of 2026, up from JD 502m a year earlier, with 15,464 certificates issued. Banking & Markets: The ASE fell 0.64% to JD 18.8m turnover, while foreign investors held nearly half of Amman Stock Exchange market value. Labour Policy: Jordan suspended recruitment of non-Jordanians across most sectors as unemployment fell to 16%, signaling a shift toward local employment. Industrial Growth: The government opened six new factories in Karak to expand an industrial hub, alongside moves to accelerate investment. Humanitarian Aid: Qatar Red Crescent’s Eid Al-Adha sacrifice campaign reached 247,344 beneficiaries in Qatar and 13 countries, including Jordan.

Trade & Exports: Amman Chamber of Commerce reported certificates of origin supporting exports worth JD 624m in the first five months of 2026, up from JD 502m a year earlier, with 15,464 certificates issued (+10%). Regional Business Climate: Jordan’s tourism got a boost as the UK updated its travel advisory, reclassifying most of the country as safe, with only a precautionary exception near the Syrian border—good news for European demand. Labor & Jobs: Jordan moved to tighten the labor market by suspending foreign labor recruitment as unemployment fell to 16%, signaling a push to prioritize local employment. Finance & Markets: The Amman Stock Exchange and Abu Dhabi Securities Exchange launched an electronic trading link via the Tabadul platform to deepen liquidity and financial integration. Geopolitics & Risk: Iran’s missile attacks on Bahrain and Kuwait drew condemnation from regional governments and the US said it intercepted missiles and drones near the Strait of Hormuz—another reminder of how quickly regional shocks can spill into trade and investment decisions.

Labor Market Policy: Jordan will suspend foreign worker recruitment across most sectors starting June 1, 2026, with exceptions for garment/textile, development and qualified industrial/free zones, and domestic workers, as unemployment falls to 16% in Q1 2026. Public Finance: The Central Bank of Jordan issued JD141m in Treasury bonds, while the Amman Stock Exchange also saw activity with ASE closing higher at 4,076 points and foreign investors holding nearly half of market value. Trade & Investment Links: Jordan and the UAE launched an electronic trading link via Tabadul connecting Amman and Abu Dhabi exchanges to boost liquidity and financial integration. Exports & Industry: Jordan’s exports rose to JD2.129bn in Q1 2026, and the country’s pharmaceutical exports grew 17.6% in the first quarter. UNICEF Jobs: UNICEF posted a remote nine-month report writer consultancy (Amman-based) focused on private-sector engagement in education and long-term economic growth. Tourism & Business Development: Aqaba showcased a smart tourism vision in Beijing, while Jordan also pushed industrial growth projects including new factories and virtual business platforms for entrepreneurs.