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Results Include DoJ Settlement Costs of $5.3 Billion (Pretax) or $0.43 per Share (After Tax)
Continued Business Momentum
QNB Group, one of the World’s Strongest Banks and the leading bank in the Middle East and North Africa, announced its results for the nine months ended 30 September 2014.
For the nine months of 2014, Net Profit was QR8.0 billion (USD2.2 billion), up by 12.6% compared to last year.
The Group’s prudent cost control policy and strong revenue generating capability allowed it to maintain an efficiency ratio (cost to income ratio) of"......Continue Reading >
Banks should provide more support to entrepreneurial projects by having their experts evaluate innovative business ideas and fund those found to be the most feasible without requesting the usual loan guarantees from entrepreneurs, according to a banking expert.
“Most entrepreneurs do not have bank assets or records, which are required for loans,” Mefleh Aqel said in a lecture earlier this week on the obstacles facing funding for entrepreneurs.
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The European Bank for Reconstruction and Development (EBRD) is providing a USD 25 million loan for the construction and development of a 20 MW solar photovoltaic power plant in the Kingdom.
In a statement, the bank said on Wednesday that the new plant which aims at helping address the country’s energy shortages through utilizing its world class solar resource, is located 13 km south east of the city of Ma'an in southern Jordan. It"...
Panasonic Enterprise Solutions Company (Panasonic) and Coronal Group LLC (Coronal) announce the completion of nine solar projects in Tulare and Kings Counties in Central California. The projects provide 16.2 MW of energy to Southern California Edison’s grid to power approximately 14,500 homes annually.
“Significant solar projects are beneficial to the economy"...Continue Reading >
Jordan's central bank said it supported Arab Bank and was confident in the its ability to defend itself against a U.S. ruling which found the country's top lender liable for financing Islamic militant group Hamas.
The U.S. civil lawsuit brought against the Jordan-based bank has been described by lawyers as the first of its kind to reach trial. Jurors found the bank"...Continue Reading >
A U.S. jury decided on Monday that a large Jordan-based bank was liable in a wave of suicide bombings in the early 2000s that left several Americans dead or wounded.
Jurors reached the verdict at a civil trial in federal court in Brooklyn.
American victims of terrorist attacks in Israel had sued Arab Bank in 2004. They accused the institution of knowingly funneling cash payments from Hamas to the families of bombers from Gaza and the West Bank.
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