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The Dubai government said it will pay 4.1 billion dollars to cover Islamic bonds issued by its Nakheel property developer which mature Monday after receiving 10 billion dollars from oil-rich Abu Dhabi.
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LONDON - The financial crisis presents an opportunity for Islamic banks based in some of the Gulf States according to a new report from the London School of Economics and Political Science (LSE) released Thursday.
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The Belgian French bank group Dexia finances Illegal Israeli settlements in the West Bank, research from the Belgian solidarity movement, Intal, has shown. Dexia confirmed its involvement but claimed that their investment today is only 1%. The question has arisen in Belgium, “Is a 1% investment in Israeli settlements in the West Bank a socially responsible business practice?”
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The General Manager of the Natural Sources Authority, Dr. Maher Hijazeen, said that oil is not effectively explored in Jordan. A ray of hope to find more oil is due to the possibility of vast reserves in the Kingdom that have not yet been explored.
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Oil fell over $1 to below $56 a barrel on Monday, dropping to near its lowest in almost two years after a meeting of the Group of 20 major economies ended with few actual proposals on how they would combat a global recession.
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Next week French and Afghan presidents Nicolas Sarkozy and Hamid Karzai will be meeting, along with the UN Secretary General, Ban Ki-moon at an international conference to be hosted in Paris on June 12.
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The Amman Zarqa Light Railway project will start operating in the first quarter of 2011 in accordance with a JD236 million deal the government signed yesterday with a Kuwaiti-Spanish consortium which will carry out the scheme.
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Euromoney has named The Housing Bank for Trade & Finance as the “Best Bank in Jordan” citing its leadership in Jordan’s financial sector.
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