New York Times Feed
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Jeddah-based Islamic Development Bank, is very proud to support Jordan’s plans to provide an alternative to conventional bonds, said its CEO Khaled Al Aboodi.
His remarks came as Jordan closed its inaugural local currency sukuk. The debut sovereign issuance was more than three-times oversubscribed. The amortized Ijarah-based sukuk has a tenor of five years and expected profit rate of 3.01 percent.
The landmark sovereign issuance marks a major step to develop the Islamic Jordanian...
Union of Arab Banks (UAB) decided to dedicate the Governor of the Central Bank of Jordan, Ziad Fareez, "Visionary Leadership Award" for the year 2016.
During the Financial Inclusion Forum, started Tuesday in Amman, UAB Secretary General, Wissam Fattouh, said that the union will grant Fareez the award during its next meeting scheduled to be held in Beirut in November.
The forum will highlight the role of financial inclusion in enhancing"...
The winners for the 2016 BAI Global Banking Innovation Awards were announced at BAI Beacon in Chicago. Showcasing top innovators within the financial services industry, the recipients were chosen out of the 15 finalist organizations that represent the most innovative global leaders changing the face of the industry.
“It is exciting to recognize forward-thinking organizations"...Continue Reading >
Jordan's economic growth is expected to improve at 3.1 per cent by 2018, compared to 2.3 per cent this year, according to figures released by the World Bank.
Nevertheless, growth is projected to average at 2.7 per cent over 2016-2018, despite the slowdown in the economy last year due to the regional turmoil, with unemployment reaching a new high recently, the data showed.
The global financial institution projected that the national"...
Zymergen, a technology company unlocking the power of biology, announced today that it has raised 130 million USD in Series B funding led by SoftBank Group (TOKYO: 9984). The round also includes prior lead investor Data Collective (DCVC), as well as return investors True Ventures, AME Cloud Ventures, DFJ, Innovation Endeavors, Obvious Ventures, and Two Sigma Ventures. New investors include Iconiq Capital, Prelude Ventures, and Tao Capital Partners.
...Continue Reading >
QNB Group, the largest bank in the Middle East and Africa (MEA) region, announced its results for the nine months ended 30 September 2016.
For the nine months ended 30 September 2016, Net Profit reached QAR9.7 billion (USD 2.7 billion), up by 11% compared to last year. Total assets reached QAR713 billion (USD196 billion), up by 37% from"...Continue Reading >
The Central Bank of Jordan (CBJ) announced on Wednesday it will issue on 17 October its first issuance of Islamic sukuk (bonds) worth JOD 34 million ($48 million) set to mature on 17 October 2021.
The issuance will be used to fund governmental projects through a government-owned company, the bank said in a statement.
The sukuk's profit rate is expected by the bank to be at"...Continue Reading >
Point72 Asset Management (Point72), the family office managing the assets of investor and philanthropist Steve Cohen, is expanding its groundbreaking Point72 Academy Program to recruit students internationally from Asia and Europe and expects to add up to 15 students to its full-time Financial Analyst and Summer Analyst programs in 2017.
The Academy is Point72’s one-of-a-kind"...Continue Reading >
The World Bank approved Tuesday a concessionary loan of $300 million to support Jordan’s efforts to improve the investment climate, attract investors, reform the country’s labour market and grant access to the Syrian labour force to contribute to economic growth.
A statement issued by the bank said the Economic Opportunities for Jordanians and"...Continue Reading >
Dubai Chamber’s President and CEO H.E. Hamad Buamim: Argentina is a strategic partner and a gateway to South America
Dubai is looking to boost its trade relations with Argentina as both sides gear up to take part in the upcoming Global Business Forum on Latin America 2016.
The Forum is being organised by ......Continue Reading >