Latest news with #JD15
Zawya
22-04-2025
- Business
- Zawya
Jordan: Electricity Distribution Company posts $21mln profit in 2024, advances digital transformation
AMMAN — The Electricity Distribution Company (EDCO) recorded a net profit after tax of some JD15 million in 2024, up from JD10.55 million in 2023, according to financial statements disclosed during the company's ordinary and extraordinary general assembly meeting. The company's total assets reached around JD972 million by the end of 2024, compared with JD792 million at the close of 2023, the Jordan News Agency, Petra, reported on Monday. The meeting was attended by EDCO Chairman Hazem Rahahleh and EDCO General Manager Reem Hamdan. The company reviewed the progress made in 2024, underscoring its continued role in supplying electricity a strategic commodity vital to multiple sectors while ensuring power continuity, reducing outages, and adhering to the performance standards set by the Energy and Minerals Regulatory Commission. The General Assembly unanimously approved increasing the company's capital by JD4 million, raising it from JD21 million to JD25 million. The increase will be distributed as free shares to shareholders proportionate to their holdings, funded through retained earnings. Amendments to the company's articles of association and bylaws reflecting the capital increase were also ratified. EDCO reported tangible progress in digital transformation initiatives. These include the implementation of an enterprise resource planning (ERP) system via the SAPS/4HANA platform, aimed at integrating data and accelerating decision-making. Also, efforts are underway to upgrade the human resources management system and adopt process automation to enhance employee engagement. EDCO also adopted the Intalio platform to manage electronic correspondence, improving internal communication and reducing paper usage as part of e-governance efforts. In the area of cyber security, the company established a dedicated unit equipped with 'skilled' personnel and advanced systems, including a cyber security operations centre and sophisticated Security Information and Event Management (SIEM) systems to safeguard data and reinforce digital readiness. Further developments include the launch of a smart electronic subscriber application, as well as a 24/7 unified automated response centre (113), aimed at enhancing service delivery and response times. Improvements extended to modernising subscriber service and field offices, aligning them with the corporate identity and achieving measurable results, including a 0.5 per cent reduction in electricity loss and an increase in the collection rate of regular subscribers' bills to over 100 per cent. Rahahleh stressed the company's commitment to advancing strategic plans that enhance operational efficiency and transition toward a smart utility framework supported by cutting-edge infrastructure, in alignment with technological advancements and the interests of subscribers and shareholders. He stressed the continued delivery of 'high-quality' electricity services as a 'cornerstone' for supporting the national economy and sustaining productive and service sectors. Reflecting on the financial and operational outcomes, Rahahleh said that the company demonstrates the 'soundness of the company's policies and strategic direction.' Hamdan credited the achievements to the employees' dedication to continuous development and teamwork, reiterating the company's vision of becoming a fully digital institution that delivers efficient, responsive, and customer-focused services. She added that digital initiatives such as the SAPS/4HANA platform, the subscriber app, and the automated response centre have enhanced service quality and communication, marking a qualitative leap in customer relations.
Jordan Times
21-04-2025
- Business
- Jordan Times
Electricity Distribution Company posts JD15m profit in 2024, advances digital transformation
The Electricity Distribution Company records a net profit after tax of some JD15 million in 2024, up from JD10.55 million in 2023 (JT file) AMMAN — The Electricity Distribution Company (EDCO) recorded a net profit after tax of some JD15 million in 2024, up from JD10.55 million in 2023, according to financial statements disclosed during the company's ordinary and extraordinary general assembly meeting. The company's total assets reached around JD972 million by the end of 2024, compared with JD792 million at the close of 2023, the Jordan News Agency, Petra, reported on Monday. The meeting was attended by EDCO Chairman Hazem Rahahleh and EDCO General Manager Reem Hamdan. The company reviewed the progress made in 2024, underscoring its continued role in supplying electricity a strategic commodity vital to multiple sectors while ensuring power continuity, reducing outages, and adhering to the performance standards set by the Energy and Minerals Regulatory Commission. The General Assembly unanimously approved increasing the company's capital by JD4 million, raising it from JD21 million to JD25 million. The increase will be distributed as free shares to shareholders proportionate to their holdings, funded through retained earnings. Amendments to the company's articles of association and bylaws reflecting the capital increase were also ratified. EDCO reported tangible progress in digital transformation initiatives. These include the implementation of an enterprise resource planning (ERP) system via the SAPS/4HANA platform, aimed at integrating data and accelerating decision-making. Also, efforts are underway to upgrade the human resources management system and adopt process automation to enhance employee engagement. EDCO also adopted the Intalio platform to manage electronic correspondence, improving internal communication and reducing paper usage as part of e-governance efforts. In the area of cyber security, the company established a dedicated unit equipped with 'skilled' personnel and advanced systems, including a cyber security operations centre and sophisticated Security Information and Event Management (SIEM) systems to safeguard data and reinforce digital readiness. Further developments include the launch of a smart electronic subscriber application, as well as a 24/7 unified automated response centre (113), aimed at enhancing service delivery and response times. Improvements extended to modernising subscriber service and field offices, aligning them with the corporate identity and achieving measurable results, including a 0.5 per cent reduction in electricity loss and an increase in the collection rate of regular subscribers' bills to over 100 per cent. Rahahleh stressed the company's commitment to advancing strategic plans that enhance operational efficiency and transition toward a smart utility framework supported by cutting-edge infrastructure, in alignment with technological advancements and the interests of subscribers and shareholders. He stressed the continued delivery of 'high-quality' electricity services as a 'cornerstone' for supporting the national economy and sustaining productive and service sectors. Reflecting on the financial and operational outcomes, Rahahleh said that the company demonstrates the 'soundness of the company's policies and strategic direction.' Hamdan credited the achievements to the employees' dedication to continuous development and teamwork, reiterating the company's vision of becoming a fully digital institution that delivers efficient, responsive, and customer-focused services. She added that digital initiatives such as the SAPS/4HANA platform, the subscriber app, and the automated response centre have enhanced service quality and communication, marking a qualitative leap in customer relations.
Jordan Times
15-04-2025
- Business
- Jordan Times
US Congress delegation visits Petra city
A delegation from the US Congress on Tuesday visits Petra city to assess the progress of key development projects implemented by the Petra Development and Tourism Region Authority and funded by USAID (Petra photo) AMMAN — A delegation from the US Congress visited Petra city on Tuesday to assess the progress of key development projects implemented by the Petra Development and Tourism Region Authority (PDTRA) and funded by USAID. The visit included a review of several strategic initiatives aimed at enhancing tourism infrastructure and sustainability in Petra region. Among the projects showcased were improved visitor flow and transportation systems within and around the archaeological reserve, as well as green growth tourism programmes designed to preserve cultural heritage and promote long-term tourism sustainability, the Jordan News Agency, Petra, reported. These efforts are part of a broader partnership formalised through a JD15 million grant agreement signed last year between the PDTRA and USAID to support a range of development projects across the Petra region. Chief Commissioner of the PDTRA Fares Braizat stressed the significance of these projects in enhancing Petra's position as a 'leading' global tourism destination. He noted that the initiatives contribute to diversifying the local tourism offering, enhancing competitiveness, and enriching the visitor experience in the historic Rose City. Braizat also expressed appreciation for USAID's continued support, underscoring the authority's commitment to advancing Petra's tourism sector through innovative services and infrastructure aligned with its status as one of the New Seven Wonders of the World.
Ammon
02-03-2025
- Business
- Ammon
18 commodity prices jump during Ramadan most notably chicken, meat
Ammon News - The National Society for Consumer Protection prepared a comparative field study that addressed the changes that occurred in the prices of 35 basic commodities before the holy month of Ramadan, compared to their prices after the advent of the holy month. The results of the study showed an increase in the prices of 18 commodities by 24.7%, with the highest increase being for tomatoes and zucchini (60%), cucumbers (50%), classic eggplant (50%), and cauliflower (42.8%). The lowest increase was for sweet peppers and garlic (11%), beans (16.6%), and small eggplants (33%), while the prices of onions, lemons, beans, and potatoes remained stable. As for red meat, all types of local and imported meat have increased. The price of a kilogram of Romanian lamb has increased by 21.4%, as it was sold for JD7 before Ramadan and is now sold for JD8.50. As for the small Romanian, it was sold for between JD8 and JD8.50 and is now sold for between JD9.75 and JD10. The Australian lamb also has increased by 13%. As for the local calf, it increased by 5.8%, and the local sheep increased by 8.3%, noting that it is sold in some areas for between JD14 and JD15 per kilogram. The price of plucked chicken has increased by 8%. It used to be sold for between JD1.85 and JD1.95 and is now sold for between JD2 and JD2.10, despite the availability of this item in sufficient quantities to meet the need in the holy month. As for fresh chicken, the increase ranged between 12.5% and 20% for some types.
Jordan Times
27-02-2025
- Health
- Jordan Times
King inaugurates King Hussein Cancer Centre's building in Aqaba
In Aqaba, His Majesty King Abdullah II inaugurates the new King Hussein Cancer Centre's King Abdullah II ibn Al Hussein building, which aims to provide medical services for cancer patients who are beneficiaries of the KHCC, as well as early detection services for residents of the southern governorates (Photo courtesy of Royal Court) AMMAN — His Majesty King Abdullah on Thursday inaugurated the King Hussein Cancer Centre's King Abdullah II ibn Al Hussein building in Aqaba, which aims to provide medical services to cancer patients who are beneficiaries of the KHCC, as well as early detection services for residents of the southern governorates. The four-floor building includes chemotherapy and radiology departments, an early detection unit, oncology clinics, a laboratory and a pharmacy. It was built and equipped with the latest technologies at an estimated cost of JD15 million, according to a Royal Court statement.. His Majesty toured the new building, where 100 medical and support staff from local communities in the south are employed. HRH Princess Ghida Talal, chairperson of the King Hussein Cancer Foundation and Centre's Board of Trustees delivered a speech during which she noted that the Aqaba-based centre embodies His Majesty's vision to provide advanced medical care to cancer patients in the south of the Kingdom, and will enable them to receive treatment close to their homes, families and support systems. Princess Ghida highlighted that the rising number of cancer patients necessitates expanding the KHCC's services as part of a treatment network that extends to all parts of the Kingdom, the statement said. 'Over the past twenty-four years, the King Hussein Cancer Centre has become a source of pride for Jordan and the Arab world. It stands today as the cornerstone of care, safety, and hope for the thousands of patients who are treated each year, with the most advanced care available,' she added. Her Royal Highness also noted that, thanks to the support of Their Majesties King Abdullah II and Queen Rania Al Abdullah, the KHCC continues to receive cancer patients from Gaza for treatment, until they can return safely to the Strip. For his part, Aqaba Governor Khaled Hajjaj, a cancer survivor who received treatment at the KHCC, spoke about the importance of establishing the centre in Aqaba to save time and effort for cancer patients in the southern governorates, while also boosting medical tourism services. In the presence of His Majesty, Princess Ghida honoured the donors and institutions that supported the new project.
