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Jordan biggest lender Arab Bank H1 net profit up 7.5pc AMMAN: First-half net profit at Jordan's Arab Bank, one of the Middle East's largest financial institutions, rose by 7.5 percent to $387 million compared with the same period a year ago, the bank said on Saturday.The bank's chairman Sabih Masri was quoted as saying in a statement its "strong performance reflected the bank's ability to deal with a challenging environment in the region and to grow in its core markets."The statement cited an upturn in the oil-producing Arab Gulf region, where the bank has a strong presence.Copyright Reuters, 2013 ...

Hungary to payoff IMF loans this summmer BUDAPEST: Hungary will repay its loans from the International Monetary Fund this summer, months earlier than was planned, Prime Minister Viktor Orban said on Saturday.Most of the 2.1 billion euros ($2.8 billion) that remains to be paid from the 20 billion borrowed from the IMF during the 2008-2009 global crisis matures in 2013, and the rest next year."Yesterday I told the Economy Minister that we will prepay the entire amount to the IMF this summer," ...
Under siege, JPMorgan to quit physical commodities NEW YORK: JPMorgan Chase & Co is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street's role in the trading of raw materials comes under unprecedented political and regulatory pressure.After spending billions of dollars and five years building the banking world's biggest commodity desk, JPMorgan said it would pursue "strategic alternatives" for its trading assets that stretch from Baltimore to Johor, and a global team dealing in everything ...
Commerzbank sells fund management unit to BNP FRANKFURT; Germany's second-biggest bank, Commerzbank, is to sell its Depotbank investment unit managing funds worth 93 billion euros to BNP Paribas, it said on Thursday.Commerzbank declined to give the value of the deal for the unit which managed assets worth the equivalent of $122 billion in AprilThe subsidiary offers services for investment companies and funds such as settling securities transactions and managing assets, the bank said.It employs 80 staff."All the employees of the Commerzbank business ...
Credit market suggests European bank shares vulnerable on earnings LONDON: European bank shares driven higher by strong earnings from US lenders may be set for a fall as their own results season begins, with credit markets reflecting wariness about risks glossed over by equity investors.Forecast-beating earnings from Bank of America and Citigroup lifted shares in European banks last week.However, the market for insurance against banks defaulting on their loans shows more caution over the European sector, which is still struggling with bad debts in ...
Europe to clamp down on charges for paying with plastic BRUSSELS: Banks will have to limit the fees they charge on card payments under proposals from the European Commission on Wednesday that would also scrap surcharges on shoppers paying with plastic.The draft law would squeeze an important source of income for banks but should bring lower prices for consumers.It will also end the practice of bumping up the cost of airline tickets, for example, when consumers use their credit card to pay."The interchange fees paid ...
Royal Bank of Scotland fined £5.6mn over accounts: watchdog LONDON: State-rescued Royal Bank of the Scotland has been fined more than £5.6 million, mainly for the incorrect reporting of transactions over a six-year period, a British financial watchdog announced on Wednesday."The Royal Bank of Scotland has been fined £5,620,300 ($8.63 million, 6.51 million euros)," the Financial Conduct Authority said.This was for "incorrectly reporting transactions they made in wholesale markets, and in some instances, failing to report transactions at all," the FCA said in a ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln