Jordan’s Economy Faces Setback, Prime Minister Highlights Impact of Gaza Conflict
Jordan’s Prime Minister, Bisher al Khasawneh, voiced concerns over the Gaza conflict’s impact on the nation’s once-promising economy. The disruption in Red Sea shipping due to Houthi attacks, coupled with a significant dip in tourism post the Oct. 7 Hamas attack, has thwarted Jordan’s economic growth trajectory. Shipping costs for cargo arriving at Aqaba’s Red Sea port have surged, sparking worries about potential inflation. Despite the challenges, Jordan remains focused on its economic modernization plan, seeking to enhance competitiveness. The recent IMF approval of a $1.2 billion loan program reflects international confidence in Jordan’s economic policies, providing a ray of hope for recovery.
China Plans Shanghai-Hangzhou Hyperloop Train by 2035
China is all set to build its first hyperloop train line between Shanghai and Hangzhou, according to the nation’s top engineering and rail design institutes.
Shipping rate surge threatens global economy recovery, UNCTAD says
A surge in container shipping rates poses a threat to the global economic recovery, with small countries dependent on deliveries by sea expected to be hardest hit by a spike in import prices, U.N. agency UNCTAD said on Thursday.
Biden pledges to tackle monopolies, supply shortages as prices rise
President Joe Biden pledged on Thursday toroot out anti-competitive business practices and ease construction materials shortages andtransportation backups that are causing price hikes across the country.
