BANKING

Schlumberger Recommends Stockholders Reject “Mini-Tender” Offer by TRC Capital Corporation June 22, 2017

(ME NewsWire)-- Schlumberger Limited (NYSE: SLB) (“Schlumberger”) has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation (“TRC Capital”) to purchase up to 2 million shares of Schlumberger common stock, representing approximately 0.14 percent of Schlumberger’s shares of common stock outstanding. TRC Capital’s offer price of $65.63 per share is approximately 4.3 percent below the closing price per share of"...

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IMF Executive Board Completes First Review Under the Extended Fund Facility for JordanJune 22, 2017

  • IMF encouraged by Jordan’s commitment to continue removing exemptions on the general sales, income tax, and custom duties.
  • IMF Directors saw the critical need to advance reforms to lower the formal cost of labor to promote greater employment opportunities, especially for the youth and women.
  • IMF calls for greater donor support through budget grants to help Jordan cope with the Syrian refugee crisis.

The Executive Board of the International Monetary Fund (IMF) today completed"...

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World Bank highlights Jordan’s ‘green growth’ approach June 20, 2017

Jordan has embarked on a package of measures to encourage 'green growth in the environment' aimed at benefiting from local energies and reducing dependence on costly imports, a World Bank (WB) report has underlined.

The ultimate goal is to create decent jobs in a country suffering from rising unemployment and low economic growth rate of only 2.3 per cent in 2017, noted the Jordan Economic Monitor report, which was released a ceremony held"...

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Jordan's public debt comprises 94.1pct of GDP June 20, 2017

Jordan's public debt amounted to JOD26.2 billion at the end of the third quarter of the current year comprising 94.1 per cent of Gross Domestic Product (GDP) compared with JOD26.1 billion or 95.1 per cent of GDP at the end of 2016.

The public debt-to-GDP ratio is set to slightly rise to 95.1 percent by the end of the current year, according to quarterly data released by the ministry of finance. It said public expenditure reached JOD2.51 billion in the January-March period against JOD2.45 billion in the same"...

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EBank facilitates digital banking with Fiorano June 20, 2017

(ME NewsWire)-- Fiorano Software, a leader in enterprise integration, today announced that EBank, a major Namibian commercial bank, has successfully implemented Fiorano ESB to integrate its Temenos T24 core banking system. EBank was looking for easy to configure middleware to handle multiple interfaces with the least requirement for onsite programmers. Fiorano ESB‘s out-of-the-box integration capabilities enabled EBank to rapidly onboard partners across multiple delivery channels. “We at EBank are impressed with the flexibility of the Fiorano ESB, Enterprise Service Bus,” says EBank CFO, Gerald Riedel, “The application is user-friendly, highly agile and enables EBank to quickly and securely set up connections with third party systems. Fiorano ESB consumes a fraction of the resources normally required by similar applications thus mitigating the need to heavily invest......

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World Bank: Middle East conflicts impede climate and other objectives June 20, 2017

The economy of Jordan could grow on the back of green initiatives, but progress may be impeded by geopolitical shocks, a World Bank report found.

An annual report on the Jordanian economy from the World Bank found shocks from crises in Syria and Iraq have stifled trade lines and pushed expansion to around 2 percent,"...

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OFFTEC Equips Jordan Kuwait Bank With Security Information and Event Management SolutionJune 19, 2017

In efforts to combat the rapidly increasing cyber security attacks and provide advanced networking and IT security solutions, OFFTEC – a subsidiary of OFFTEC Holding Group (OHG) – recently equipped Jordan Kuwait Bank’s (JKB) headquarters with a Security Information and Event Management (SIEM) solution. This step was conducted in cooperation with the leading international company, Splunk, reaffirming OFFTEC’s commitment to partnering with the world’s top"...

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GA Telesis Closes New $225 Million Syndicated ABL Credit Facility with Oversubscription and Tighter PricingJune 19, 2017

(ME NewsWire)- Leading aviation company GA Telesis, LLC (or the “Company”) announced the closing of a new five year, $225 million ABL credit facility led by HSBC Securities USA and Fifth Third Bank as Joint Lead Arrangers. The company originally sought a new $200 million facility. Due to overwhelming interest from existing and new banks, however, the company upsized the facility with better terms than its previous credit facility.

The"...

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Triton Aviation Finance Announces Filing of Petition for Approval of Trustees’ Proposed Plan of ResolutionJune 17, 2017

(ME NewsWire)-- Triton Aviation Finance, a Delaware statutory trust (“TAF”), announced today that it has filed a petition with the Court of Chancery of the State of Delaware (the “Chancery Court”), Case Number 2017-0454, in which it has requested, among other things, that the Chancery Court, after notice and a hearing, enter an order that provides for the orderly resolution and final accounting of TAF’s liabilities pursuant to a proposed plan of resolution."...

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CBJ raises interest rate again June 17, 2017

The open market operations committee at the Central Bank of Jordan (CBJ) on Sunday decided to raise the interest rates on all monetary policy instruments by 25 basis points, effective June 18, 2017, a bank press release said.

The CBJ took the decision in order to maintain the objective of achieving monetary stability in the Kingdom and in light of rising interest rates in the global and regional financial markets, a CBJ statement said.

This"...

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