Saturday 13 February 2016
 
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Arab Bank profit plunges on US lawsuit payments

Jordan's largest lender, Arab Bank Group, said on Saturday its 2015 net profits fell to $442 million, from $577 million a year earlier, after putting aside hundreds of millions to cover a legal settlement in the US. Arab Bank

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45 top banks join SWIFT payments initiative

SWIFT, a global  initiative that connect more than 10,800 banking organisations, has announced that a total of 45 leading banks have signed up to a global payments innovation initiative launched at the end of December 2015. T

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SWIFT unveils global payments innovation initiative

SWIFT, a member-owned cooperative for conducting business operations with confidence, has unveiled a global payments innovation initiative to dramatically improve the customer experience in correspondent banking by increasing the speed, transp

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GCC ‘an attractive region to live in’

Safe place to live and work, possibility of making good friends and having a comfortable lifestyle are the main attractions of living in the GCC, a new report said. The Western Union Company, a world leading money transfer company

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Kurdistan says to allocate up to $100m for oil firms in Sept

Iraq's Kurdistan region said it expected to begin making regular payments to oil-exporting companies in the first half of September, sending shares in those firms up as high as 17 per cent in early trade.   T

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Tamkeen launches online payment system

Tamkeen, Bahrain’s labour fund, has shifted to an electronic payment system to expedite payments to customers and vendors, who will now receive funds directly into their bank accounts. The shift to the new system, effective

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Gulf Keystone gets payments for Shaikan crude

Gulf Keystone Petroleum said it had received further payments on recent contracts, helping prop up its cash position, and continued to progress towards a regular payment cycle for the oil it produces.   Shares in

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SWIFT offers global platform for regional services

SWIFT, a global provider of secure financial messaging, is making its reference data platform available for national reference data collection and maintenance services, building on its payments reference data platform, SWIFTRef. T

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UAE Exchange remittances top $25 billion

UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, said it handled $25.4 billion in remittances in 2013 and has a share of 6.1 per cent of the global remittance volume. Celebrating the b

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PayPal, Samsung enable biometric mobile payment

PayPal and Samsung have announced a collaboration that will make Samsung Galaxy S5 users the first to be able to login and shop at any merchant that accepts PayPal on mobile and in-stores with only their fingerprint. The new secur

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