AVEVA Strengthens Local Presence in Egypt with New Cairo Office
AVEVA experts will be available at Stand 2F60, Hall 2 at EGYPES 2025 to showcase how AVEVA's Unified Operations Center (UOC) provides real-time, AI-driven insights via CONNECT, the world's largest industrial software platform.
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Jordan News
4 days ago
- Jordan News
Royal Jordanian Reports $17.9M Profit in First Half, Reversing Previous Loss - Jordan News
Royal Jordanian (RJ) reported a net profit of JD12.7 million (USD 17.9 million) for the first half of 2025, marking a sharp turnaround from a JD27.4 million loss during the same period last year. اضافة اعلان Operating revenues rose to JD375 million, up from JD338 million in H1 2024. The airline carried 1.892 million passengers during the first half of the year an 8% increase compared to 1.759 million in the same period last year. In a statement released Wednesday, the company confirmed that its Board of Directors chaired by Eng. Said Darwazeh had approved the financial results following a review by an independent external auditor. The figures reflect improved operational performance and strengthened key indicators, as the airline continues to execute its strategic plans focused on fleet and network modernization, enhanced services, and improved on-time performance. RJ Vice Chairman and CEO, Eng. Samer Majali, said the results reflect ongoing efforts to boost efficiency, noting that the airline achieved a seat load factor of over 80% and an on-time performance rate of 89.9%. Majali attributed the positive financial performance to firm control of costs and expenditures across the business, as well as a drop in fuel prices. He emphasized that the results affirm the airline's strategic direction and its progress toward restoring financial stability. While the first half of the year is typically a low season for airlines, RJ's performance exceeded budget expectations despite the challenging regional environment. Majali expressed confidence in continued net profit growth through year-end. In the first half of 2025, Royal Jordanian also recorded major milestones in network growth and fleet renewal. The airline launched a new route to Benghazi, supporting both medical travel and tourism. RJ was among the first carriers to resume flights to Damascus and Aleppo, and it launched new routes to Washington, D.C., reinforcing its role as a key connector between the Middle East and North America. A direct service to Mumbai was also inaugurated, aimed at strengthening travel, tourism, and business ties between Jordan and India. Looking ahead, the airline is set to announce a new route to Casablanca in October, with two weekly flights. On the fleet side, Majali confirmed the delivery of seven new Airbus A320neo aircraft, with four more expected to arrive in August bringing the total to 11 by mid-month. By the end of the year, Royal Jordanian plans to complete the full renewal of its medium- and regional-range fleet, retiring older aircraft. The updated fleet will include 14 Airbus A320/A321neo jets and 7 Embraer 190/195 E2s by early next year. With these upgrades, the average age of RJ's fleet will fall to under four years making it the youngest in the region. The new aircraft offer a step-change in passenger experience, with features such as in-flight Wi-Fi, personal entertainment screens at every A320neo seat, and premium cabin interiors, particularly in Crown Class. Enhanced seat pitch and fuel-efficient engines will also improve service quality while reducing environmental impact. Majali added that three of the new A320neo aircraft are equipped with 180 all-economy seats, tailored to meet growing demand from inbound tourism and support the local economy. He also emphasized RJ's role in maintaining Jordan's air connectivity during periods of regional turbulence. Despite temporary airspace closures, the airline continued to operate safely and reliably, transporting passengers even as other carriers suspended operations. RJ also added extra flights to support travelers affected by the disruptions.
Jordan News
6 days ago
- Jordan News
Euro Edges Higher After U.S.–EU Trade Deal; Markets Focus on Central Bank Meetings - Jordan News
Euro Edges Higher After U.S.–EU Trade Deal; Markets Focus on Central Bank Meetings The euro rose slightly on Monday following the announcement of a framework trade agreement between the United States and the European Union, the latest move to ease global trade tensions and avoid a full-scale trade war. Attention is now turning to upcoming central bank meetings in the United States and Japan. اضافة اعلان During a meeting in Scotland on Sunday, U.S. President Donald Trump and European Commission President Ursula von der Leyen agreed to impose 15% tariffs on most EU imports — half the rate previously threatened by Trump for August 1. Following the news, the euro climbed to $1.1753, up 0.1% after initially gaining 0.3%. It also strengthened against the Japanese yen, reaching 173.64 yen, marking a fifth straight session of gains and hitting its highest level in a year. Market Sentiment Shifts as Trade Tensions Ease With fears over economic fallout from punitive tariffs subsiding, investors are turning their focus to corporate earnings and monetary policy meetings in Washington and Tokyo this week. Rodrigo Catril, Senior Currency Strategist at National Australia Bank, said in a bank podcast: 'It could be a positive week simply because we now know the rules of the game... With increased clarity, there may be greater global readiness to invest, expand, and pursue opportunities.' Still, a comprehensive U.S.–China trade agreement remains elusive, despite plans for high-level negotiators to meet in Stockholm on Monday. The dollar held steady at 147.65 yen, while the U.S. Dollar Index stayed at 97.582. Central Banks in Focus Both the Federal Reserve and Bank of Japan are expected to hold interest rates steady in their policy meetings this week. However, traders will closely monitor post-meeting statements for clues about future policy shifts. President Trump also announced that the EU plans to invest around $600 billion in the U.S., including significant increases in purchases of energy and military equipment. This mirrors a similar deal struck with Japan last week, which involves $550 billion in investment and 15% tariffs on Japanese imports, including cars. While some in Europe still view the 15% base tariff as excessively high, falling short of the EU's goal of zero tariffs, the agreement provides short-term relief to markets. Strategic Flows and Euro Outlook Shoki Omori, Chief Desk Strategist at Mizuho Securities, noted that the investment clause may lead to capital outflows from Europe, bolstering the U.S. dollar over the longer term: 'Weak relative growth prospects and a deteriorating current account justify a gradual decline in EUR/USD once the initial boost fades.' Meanwhile, China faces an August 12 deadline to finalize a long-term trade deal with the U.S. Talks in Stockholm are expected to result in a three-month extension of the current tariff truce, according to the South China Morning Post. Broader Market Sentiment and Crypto Surge Global equities and risk-sensitive assets received a lift ahead of a busy week for corporate earnings, with key results expected from Apple, Microsoft, Amazon, and Meta — four of the 'Magnificent Seven' tech giants whose stock movements heavily influence benchmark indices. In cryptocurrency markets, Ethereum jumped 1.5% to $3,905.79, its highest level since December 2024. Meanwhile, the U.S. dollar gained strength last Friday, supported by robust economic data that suggested the Federal Reserve may hold off on further interest rate cuts for now. GBP/USD traded at 1.3443, largely unchanged. The Australian dollar held at $0.6568, and the New Zealand dollar at $0.6014. Markets now await further cues from central banks and trade negotiations to assess the durability of the euro's upward momentum.
Roya News
7 days ago
- Roya News
Trump confirms deal sets 15% export tariffs on EU
US President Donald Trump announced Sunday that his administration had reached a new trade agreement with European Commission President Ursula von der Leyen, setting a 15 percent tariff on exports from the European Union. Speaking to reporters in Scotland, Trump said the deal includes major economic commitments from the EU, including an additional USD600 billion in investment in the United States and the purchase of USD 750 billion worth of US energy.
