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Two days after reaching a settlement with plaintiffs in a years-long lawsuit in New York, Arab Bank on Sunday assured authorities and shareholders of its financial soundness.
In a disclosure to the Jordan Securities Commission, the bank said its financial position is sounder than required by the Central Bank of Jordan and international oversight bodies.
The"...Continue Reading >
(ME NewsWire)-- Kyriba Corp., the global leader in cloud-based Proactive Treasury Management, announced that Averda (averda™), the largest provider of integrated waste management solutions across the emerging world, has selected Kyriba for its treasury management software. Averda joins more than 1,000 organizations worldwide that trust Kyriba to optimize their cash, manage their risk, and work their capital.
Averda"...Continue Reading >
Arab Bank has reached a settlement over a litigation brought by hundreds of Americans who accused it of providing financial services to Palestinian group Hamas, a charge the Amman-based bank has always denied.
According to Reuters, the settlement was confirmed on Friday by Michael Elsner, a lawyer for the plaintiffs, and a spokesman for Arab Bank."...Continue Reading >
Visa Inc. (NYSE:V) today announced the opening of a new technology development center in Bangalore, India, that will play a central role in the company’s efforts to accelerate digital commerce globally. As part of the opening ceremonies, Visa announced mVisa, a new mobile payment service that will be tested this summer with merchants across the Bangalore region and with customers of Axis Bank, HDFC Bank, ICICI Bank, and SBI (State Bank of India).
...Continue Reading >
The Dairy Queen® system, part of Berkshire Hathaway (NYSE: BRK.A and BRK.B), has opened a new DQ Grill & Chill® restaurant at the Marina Mall in Salmiya, Kuwait. The opening of this location makes Kuwait the 27th country outside the U.S. and Canada with a DQ® presence.
“We believe there is an incredible growth opportunity in this region,” said"...Continue Reading >
Jordan's Housing Bank for Trade and Finance, the country's second largest lender, said on Sunday it's first-half net profit was $86.9 million, hardly changed from $86.2 million a year earlier.
The bank said assets stood at $11 billion at end of June, up 3.3 percent from the end of 2014. The bank's main shareholder is Qatar National Bank, with a stake of over 35 percent.
"The results reflect the bank's prudent policies," said Chairman Michel Marto without elaborating. He said customer deposits rose 6.7 percent to $8.2 billion compared to the end of last year.
The bank's total...
During the 1st half of 2015, the Housing Bank achieved a growth in profits of 5.3% amounting to JOD 86.4 million, compared with JOD 82.1 million achieved during the 1st half of last year. "Post-tax" net profits amounted to JOD 61.6 million, compared with JOD 61.1 million achieved in the same period of 2014 as income tax rate increased from 30% in 2014 to 35% at the beginning of 2015.
Commenting on these results, Michel Marto, Chairman"...