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MasterCard, Visa in $6B settlement over card fees

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MasterCard, Visa in $6B settlement over card fees

NEW YORK — Visa, MasterCard and major banks agreed to pay retailers at least $6 billion to settle a long-running lawsuit that alleged the card issuers conspired to fix the fees that stores pay to accept credit cards. As part of the settlement, stores from Rite Aid to Kroger will be allowed to charge customers more if they pay using a credit card.

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markets

Dewa’s ITD applauded

Saeed Mohammed Al Tayer, managing director and chief executive officer of Dubai Electricity and Water Authority, or Dewa, has applauded the achievements of the Information Technology Division (ITD) for its work on e-services and the successful implementation of the SAP enterprise resource planning at Dewa. The MD & CEO thanked Marwan bin Haider, CIO and VP — ITD and other members of ITD at Dewa headquarters for their dedication and hard work on Dewa’s SAP e-transformation project.

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markets

UPS brings new online tools to UAE

UPS on Thursday announced enhancements to several technology tools for UAE customers that streamline the process of creating shipments online and enhance their ability to track multiple shipments at once.

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markets

Gold climbs with stocks, commods

Gold prices rose on Friday in line with equities and other commodities as Chinese growth data proved no worse than feared, but remained set for a second week of losses as expectations for another round of US economic stimulus measures faded.

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