European Commission Approves €500 Million in Aid for Jordan - Jordan News
Through this, the European Union seeks to assist Jordan in advancing its reform agenda, while also promoting job creation, economic growth, and investment.
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Jordan Times
18 hours ago
- Jordan Times
Hikma Pharmaceuticals records 6% revenue growth in H1 2025
AMMAN — Hikma Pharmaceuticals announced on Thursday that revenues reached $1.658 billion for the first six months in 2025. The multinational pharmaceutical group said that revenues grew by 6 per cent (5 per cent in constant currency) to reach $1.658 billion, compared with $1.569 billion recorded in the first half of last year, the Jordan News Agency, Petra, reported. During H1 2025, Hikma launched 33 products and submitted 21 filings to regulatory authorities across all markets. The growth comes as the group continued to implement its "strategic priorities" during the first half in 2025. A Hikma statement noted that the group's operations in the Middle East and North Africa region "performed well" during the same period. During the January-June period, the group expanded its market share, maintained its position as the second-largest pharmaceutical company, in terms of sales, with a "growing portfolio and increasing presence in the region." Hikma maintained position as a top-three US provider of generic sterile injectables by volume, and a key supplier of non-injectable generic medicines. In Europe, it is the sixth largest supplier of injectables by sales thanks to our expansion in France, Spain and the UK, according to Hikma statement. In North America, it benefitted from recently launched products as well as the contribution from the Xellia portfolio, which we acquired in September 2024. During the first half, we received FDA approval for the biosimilar Ustekinumab, and for our reformulated vancomycin ready-to-use bag, TYZAVANTM which we will be launched in the second half, according to an official statement. The Hikma group signed seven partnerships across all three businesses, including an exclusive licensing agreement with pharmaand GmbH (pharma&) to commercialise rucaparib, an innovative oral oncology therapy, across MENA. Hikma CEO Riad Mishlawi said: "Strategic changes and a renewed focus on growth and innovation began to yield tangible results in the first half of the current year, as the group is witnessing demand." Also, the group is boosting its portfolio, enhancing its manufacturing capabilities, and continuing to "successfully launch new products and sign important strategic partnerships, the statement added. During the first half 2025, he noted that the group launched 33 products and submitted 21 files to regulatory authorities across all markets.
Jordan Times
a day ago
- Jordan Times
Higher US tariffs kick in for dozens of trading partners
WASHINGTON - The United States began charging higher tariffs on dozens of trading partners Thursday, in a major escalation of President Donald Trump's drive to reshape global commerce in America's favor. Shortly before the new levies kicked in, the United States separately announced it would double tariffs on India to 50 percent and hit many semiconductor imports from around the world with a 100-percent levy. As an executive order signed last week by Trump took effect, US duties rose from 10 percent to levels between 15 per cent and 41 per cent for a list of trading partners. Many imports from economies including the European Union, Japan and South Korea now face a 15-per cent tariff, even with deals struck with Washington to avert steeper threatened levies. But others like India face a 25-per cent duty -- to be doubled in three weeks to 50 per cent -- while Syria, Myanmar and Laos face staggering levels at either 40 percent or 41 per cent. Switzerland's government, which failed to convince Trump not to impose a stinging 39-percent tariff, was set to hold an extraordinary meeting later Thursday. Taking to his Truth Social platform just after midnight, Trump posted: "IT'S MIDNIGHT!!! BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!" The latest wave of "reciprocal" duties, aimed at addressing trade practices Washington deems unfair, broadens the measures Trump has imposed since returning to the presidency. 'No charge' On the eve of his latest salvo, he doubled planned duties on Indian goods to 50 per cent, citing New Delhi's continued purchase of Russian oil. The new levy -- up from 25 per cent now -- would take effect in three weeks. The Federation of Indian Export Organisations called the move a "severe setback for Indian exports, with nearly 55 per cent of our shipments to the US market directly affected." Trump's order also threatened penalties on other countries that "directly or indirectly" import Russian oil, a key revenue source for Moscow's war in Ukraine. Washington has already separately stuck tariffs on sector-specific imports such as steel, autos, pharmaceuticals and chips. Trump said Wednesday he also planned an "approximately 100 per cent tariff" on semiconductor imports, but with "no charge" for companies investing in the United States or committed to do so. Shares in Taiwanese chip-making giant TSMC surged as Taipei said it would be exempt, but some other Asian manufacturers took a beating. Companies and industry groups warn that the new levies will severely hurt smaller American businesses, while economists caution that they could fuel inflation and weigh on growth in the longer haul. With the dust settling on countries' tariff levels, at least for now, Georgetown University professor Marc Busch expects US businesses to pass along more of the bill to consumers. 'This will matter' An earlier 90-day pause in these higher "reciprocal" tariffs gave importers time to stock up, he said. But although the wait-and-see strategy led businesses to absorb more of the tariff burden initially, inventories are depleting and it is unlikely they will do this indefinitely, he told AFP. "With back-to-school shopping just weeks away, this will matter politically," said Busch, an international trade policy expert. The tariff leaves lingering questions for partners that have negotiated deals with Trump recently. Tokyo and Washington, for example, appear at odds over key details of their trade pact, in particular on when lower levies on Japanese cars will take place. Generally, US auto imports now face a 25-per cent duty under a sector-specific order. Toyota has cut its full-year profit forecast by 14 per cent because of the tariffs. Japan and the United States also appear to differ on whether the "reciprocal" tariffs of 15 per cent on other Japanese goods would be on top of existing levies or -- like the EU -- be capped at that level. China and the United States meanwhile currently have a shaky truce in their trade war but that is due to expire on August 12. Chinese exports to the United States tumbled 21.7 per cent last month, official data showed on Wednesday, while those to the European Union jumped 9.2 per cent and to Southeast Asia by 16.6 per cent. New fronts Meanwhile, the EU is seeking a carveout from tariffs for its key wine industry. In a recent industry letter addressed to Trump, the US Wine Trade Alliance and others urged the sector's exclusion from tolls, saying: "Wine sales account for up to 60 percent of gross margins of full-service restaurants." Trump has separately targeted Brazil over the trial of his right-wing ally, former president Jair Bolsonaro, who is accused of planning a coup. US tariffs on various Brazilian goods surged from 10 per cent to 50 per cent Wednesday, but broad exemptions including for orange juice and civil aircraft are seen as softening the blow. Still, key products like Brazilian coffee, beef and sugar are hit.
Al Bawaba
a day ago
- Al Bawaba
Graduation of a new cohort from the 'Digital Upskilling and Employment Program'
Orange Jordan, in the presence of H.E. Samira Al-Zoubi, Secretary General of the Ministry of Digital Economy and Entrepreneurship, celebrated the graduation of the sixth cohort from the Coding Academy at the Orange Digital Center in Amman. This also marks the second cohort of the 'Digital Upskilling and Employment Program' scholarship. The program is funded by the Ministry of Digital Economy and Entrepreneurship under the 'Youth, Technology, and Jobs' Project (YTJ), and is implemented by the Digital Skills Association (Digiskills). A total of 49 female and male students completed this cohort, following the graduation of the first cohort earlier this year, bringing the total number of program graduates in Amman to 100 youth, of whom 33% are women. For four months and 640 training hours, the participants were equipped with both technical and life skills to enhance their readiness for the job market. The program has proven its effectiveness, achieving a 100% graduation rate with no dropouts. To date, around 50% of the students have secured employment opportunities, a percentage that is expected to increase in the coming months. Additionally, the graduates supported 25 startups by developing websites for them during their practical training. The Secretary General of the Ministry of Digital Economy and Entrepreneurship, H.E. Samira Al-Zoubi, expressed the Ministry's pride in funding and supporting the 'Digital Upskilling and Employment Program' scholarship under the 'Youth, Technology, and Jobs' Project. She emphasized that this reflects the Ministry's commitment to empowering Jordanian youth with digital skills that enable them to enter the job market with confidence and competence. She added that such programs represent genuine career pathways rather than just training stops, as the Ministry continues to collaborate with its partners to create employment opportunities, support entrepreneurs, and foster innovation that contributes to building a competitive digital economy led by Jordanian youth. From her side, Amira Qarqash, Digital Education and Skills Development Manager at YTJ, emphasized that investing in youth is an investment in Jordan's future, and that empowering them with digital skills is key to unlocking employment opportunities and driving economic growth. This program stands as a living example of effective collaboration between the public and private sectors and civil society institutions to build a capable generation ready to lead change. The Chief Corporate Communication & Sustainability Officer at Orange Jordan, Eng. Rana Al-Dababneh expressed her pride in the partnership with the 'Digital Upskilling and Employment Program' scholarship and its achievements, praising the 'Champions of Change' from this cohort and those before them. She added that Orange Jordan, through the Coding Academy at the Orange Digital Center, continues to empower Jordanian youth with the knowledge and skills necessary to build their future. She highlighted that since its launch, the Coding Academy has graduated over 1,000 students, with more than 80% of them joining the job market, confirming the effectiveness of the training model, which integrates technical skills, projects, language, life skills, and practical training. Concurrently with the graduation ceremony, the second specialized job fair was held to connect graduates with companies and institutions seeking qualified youth talent. This provided real opportunities for them to enter the job market and embodied the integration between training and employment, which is one of the program's key objectives.
