Day: June 16, 2021

Israeli war planes early Wednesday shelled two Palestinian resistance sites in the Gaza Strip, according to Palestinian sources.

“Israeli aircrafts fired a number of missiles against a resistance site in Maan area in Khan Yunis, while the second attack hit a post south of Gaza city, but no injuries were reported,” the sources said.

The occupation army claimed that it attacked targets in the coastal enclave in response to the launching of incendiary balloons from Gaza towards the settlements.

Source: Jordan News Agency

Interior Minister Mazen Farraya on Wednesday instructed concerned authorities to release some 100 administrative detainees.

In a statement, Farraya said that the decision came after checking the detainees’ cases and making sure there is no danger to their lives or citizens’ lives while maintaining public safety.

The minister added that the decision also aims at giving them an opportunity to re-engage in society.

Source: Jordan News Agency

The Iraqi security forces shot down two unknown drones above two areas in the Iraqi capital Baghdad, an Iraqi military source said on Wednesday.

“One of the drones, carrying explosives, was shot down in an empty area near al-Rashid Camp district, while the second one was shot down in al-Girttan district south of the capital,” the source added.

Source: Jordan News Agency

Jordan is keen to promote the concept of social security in order to promote living standards for workers and their families, whether during the COVID-19 pandemic or in normal conditions, Minister of Labour Yousef Shamali said.

In remarks at the 109th Session of the International Labour Conference on Tuesday, virtually held due to restrictions caused by the COVID-19, Shamali indicated that Jordan has taken a set of measures to mitigate the effects of the pandemic on the labor sector.

“Given the conditions of the global pandemic, all parties involved in the production process need to conduct a constructive dialogue to attain the best stages of cooperation, mainly in light of the decline in global economic growth which negatively affected the lives of citizens through the lack of job opportunities and the rising unemployment rates all over the world,” he said.

The minister reviewed some of the measures taken by the government, the ministry, the Central Bank of Jordan and the Social Security Corporation during the pandemic to mitigate COVID’s economic impact on workers.

Source: Jordan News Agency

The Jordan Aircraft Maintenance Limited (Joramco) and VD Gulf of the United Arab Emirates have signed a framework agreement on maintenance, repair, and operations (MRO) Cooperation.

Under the agreement, both independent MROs aim to expand their existing capabilities, capacity and optimize their synergies for a one-stop-shop upscaled customer experience, in addition to encouraging and promoting sustainable development for both organizations.

In a statement on Wednesday, Joramco CEO Jeff Wilkinson commented, “We are excited to work hand in hand with VD Gulf to extend our support and commitment to our valued customers across the globe. This successful collaboration shows that Joramco and VD Gulf are both trusted MRO companies and will form the future of the MRO industry in the region to adapt to customers’ needs”.

VD Gulf Executive President Mikhail Khoroshaev said, “As we enter a new era following the COVID-19 pandemic, it is prudent that MROs across the globe endeavor to work jointly as witnessed in other industries. With their complimentary resources, such cooperation will open new frontiers globally for the two MROs”.

The agreement was signed during the MRO Middle East 2021, the Gulf region’s leading annual conference and exhibition for commercial aviation maintenance.

Source: Jordan News Agency

Some 56 Jewish extremist settlers on Wednesday stormed Al-Aqsa Mosque / Haram Al Sharif compound in occupied East Jerusalem.

A statement by the Jerusalem Islamic Waqf said that today’s raid by the radical settlers was carried out under heavy protection of Israeli police.

The intruders provocatively toured Al-Aqsa yards and performed their Talmudic rites before they left from Al-Silsila Gate, amid a state of anger inside the compound, it added.

Also today, the Israeli soldiers stormed the West Bank cities of Hebron, Nablus, Tulkarm, and Jenin, and arrested 14 citizens, according to the Palestinian Prisoners’ Society.

Source: Jordan News Agency

A total of two million people in Jordan have received the first dose of the Covid-19 vaccine, according to the Crisis Cell at the National Center for Security and Crisis Management (NCSCM) on Wednesday.

The crisis cell said that it will continue its efforts, in coordination with various national authorities, to protect and immunize society from the virus, calling on citizens and residents to register on the vaccine platform at vaccine.jo.

Source: Jordan News Agency

A number of Palestinians on Wednesday suffered from suffocation after violent clashes broke out with Israeli occupation forces in Deir Abu Mishaal village in the West Bank city of Ramallah.

In a statement, the village’s council said that several Israeli military patrols raided the village and fired tear gas canisters at the residents, leaving a number of them suffocated.

Source: Jordan News Agency

Ramez El-Serafy, Flat6Labs CEO, commented: “We are delighted to expand our presence into Jordan with the launch of an early-stage fund and seed program, which creates exciting opportunities for local startups. As the region’s leading seed and early-stage venture capital firm, Flat6Labs is well placed to support the aspirations of the Kingdom’s talented entrepreneurs and help them take their businesses to the next level. We aim to support the growth and development of Jordan’s start-up ecosystem, and thus contribute to a thriving national economy.”

Rasha Manna, General Manager of Flat6Labs Jordan, added: “Jordan is home to a pool of talented entrepreneurs who are ready to showcase their ideas to the world. We provide foundational support to startups through funding, mentorship and networking opportunities across the region and beyond. We are excited to now open applications for our first cycle and look forward to starting work with Jordan’s most promising startups in the very near future to help them effectively scale and grow their business.”

“ISSF has been mandated to improve the Jordanian entrepreneurial ecosystem through acting as a fund of funds and through facilitating the creation of new funds to serve the investment needs of entrepreneurs and start-ups along their journey towards success,” said Laith Al-Qassem, CEO at ISSF.

“Flat6Labs fills an important gap and role by providing studied equity capital starting from seed stage accompanied by competent hands on incubation and mentoring which will facilitate speedier and more focused growth in the investments they make,” he added.

“Jordan is an attractive market for entrepreneurship and early-stage capital given its young and increasingly urban population, high rates of technology adoption, and increasing government support,” said Abdullah Jefri, IFC’s Country Manager for the Levant. “Addressing the funding gaps will help build a robust startup ecosystem to tap into this potential and spur innovation and economic growth in Jordan and the region,” Jefri pointed out.

Launched in 2011, Flat6Labs has grown to become the MENA region’s leading startup accelerator managing seed funds with a total AUM of more than $85 million. The company has run over 40 seed program cycles, funding the creation and seeding of more than 320 companies. Approximately 40% of Flat6Labs’ graduating companies have succeeded in securing follow-on rounds of funding from regional and global institutions and individuals at higher valuations, translating to an unrealized IRR in excess of 25%.

Source: Jordan News Agency

Flat6Labs, MENA’s leading seed investor and the largest manager of startup programs in the region, launched a new USD20 million Seed Fund in Jordan to nurture the growth and development of early-stage companies.

The Jordan Seed Fund (JSF) has achieved a first close of USD7.4 million and attracted contributions from prominent investors such as the International Finance Corporation (IFC), the Innovative Startups and SMEs Fund (ISSF), Beyond Capital, Bank Al-Etihad, and GMS Ventures and Investments.

Applications for the program’s first four-month cycle are now open, Flat6Labs said in a statement on Wednesday. Participating companies will have the opportunity to benefit from a cash seed investment of up to JOD50,000 each, together with potential follow-on funding of up to JOD120,000. In addition to attractive funding opportunities, startups will benefit from the Flat6Labs Amman seed program. The program will run over a five-year period and is set to deliver a host of benefits to between 14 and 18 startups every year, including office space, world-class mentorship and access to Flat6Labs’ regional network.

The program is specifically targeted at startups in innovation-based and knowledge-driven sectors such as Information and Communication Technologies, Software Solutions, Education, Healthcare, Digital Content and Games, Hardware, Electronics, Manufacturing Solutions, Renewable Energy, Agricultural Solutions, Big Data and Analytics, FinTech and Payments, Media, and Entertainment. Each of the selected startups will receive tailored support designed to help them scale and grow their businesses, with the long-term goal of creating regional, and ultimately global, champions.

Participating companies, it said, will also benefit from opportunities for regional exposure and mentorship through Flat6Labs’ extensive international network, together with coaching from established business leaders. Each startup will be paired with at least three highly experienced mentors. In addition, Flat6Labs Amman will arrange Demo Days, support fundraising and business build-out, and deliver a full spectrum of support designed to help new businesses flourish.

Source: Jordan News Agency