BANKING

IMF agrees Syrian refugee funding package for Jordan June 22, 2016

The staff-level agreement, announced yesterday, is still being finalised and will be subject to approval by the IMF’s executive board. But Jordan’s finance minister Omar Malhas said in April the country expects the three-year deal to yield $800m in IMF credit, and unlock $1.9bn from donors and $1bn in US-backed bonds.

The fund also said the approval of the support package would “help catalyse loans and grants” from international"...

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Allianz Worldwide Care Triumphs at Global Awards CeremonyJune 20, 2016

Allianz Worldwide Care has been recognised as the top international health insurer at the inaugural International Adviser Product & Service Awards, which took place in London recently and honoured excellence across the financial services industry.


Following an in-depth analysis by industry experts, Allianz Worldwide Care triumphed over competitors including Cigna Global"...

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JFDA says dairy factory closed for health violations; owner disputes claim June 6, 2016

AMMAN — Authorities on Sunday closed down a yoghurt factory in Duleil for "falsifying expiry dates and violating public health standards", but the owner, Hammoudeh dairy company, said the plant was reopened after the inspection proved the products were in line with standards. "We closed the production lines of the factory after checking it. We will destroy 73 tonnes of pasteurised milk, 22 tonnes of cheese put in moulds that do not carry specification cards and three tonnes of rotten cheese," said Hayel Obeidat, the director general of the Jordan Food and Drug Administration (JFDA). He noted...

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Expert expects oil prices to reach $55 by yearendJune 6, 2016

AMMAN — Oil prices are expected to reach $50 to $55 a barrel by the end of 2016, an international financial expert said in Amman recently. Prices are also expected to rise further in 2017, said Ole Hansen, head of commodity strategy at Saxo Bank, a Danish investment bank. “The $50 level is a line in the sand that the market is not prepared to break now as it may allow increased production from high cost producers," Hansen said at the 11th Jordan Forex Expo and Awards, held in Amman last week. According to Hansen, the price will pass the $50 level, but not before the last quarter of...

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Experts call for humanising media coverage of environmental issuesJune 4, 2016

AMMAN — Further partnerships between conservationists and journalists are needed to increase environmental awareness among the public, particularly on means for the mitigation and adaption to the impact of climate change, experts said. The role of media outlets is to point out the positive and negative paths the government takes concerning environmental issues, said Raouf Dabbas, senior adviser to the minister of environment. He added that environmental issues are often seen as minor topics, as opposed to economics and politics, highlighting “huge” opportunities for investments...

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Road closures announced as Amman celebrates Great Arab Revolt centennial June 4, 2016

AMMAN — Multiple road closures and detours are planned across Amman on Friday as Jordan celebrates the centennial of the Great Arab Revolt, authorities announced on Wednesday. Central Traffic Department Spokesperson Maj. Jalal Rahahleh said several roads would be closed between 3am and 10pm to allow for planned festivities. The 5km road from Khalda Circle to the King Hussein Business Park will be closed and cars will be diverted to Tlaa Al Ali — on the road to Waha (Jubilee) Circle and Gardens (Wasfi Tal) Street. “As for vehicles arriving from Fuheis and Mahes, motorists will...

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Housing Bank wins 'the Arab World's Leading Bank in Financial Inclusion' awardMay 29, 2016

The Housing Bank was awarded the "Arab World's Leading Bank in Financial Inclusion", presented by the World Union of Arab Bankers, on the sidelines of the Arab Banking Conference 2016, organized by the Union of Arab Banks in Lebanon.

The Housing Bank is the first bank in the Arab world to receive such quality award, as a result of its interest in providing services to all segments of society, especially those with low income, and the delivery"...

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