Samba Bank implements new software KARACHl: Samba Bank has implementedTemenos Core Banking Software R15 for its retail and corporate banking services, a press release said.

Temenos teamed up with regional partner, National Data Consultant, for this project. The bank replaced its parent legacy system STAR to Temenos Core Banking System.

The teams implemented the Pakistan Model Bank version at Samba Bank and migrated all 37 branches in one go, the press release added.| HSBC appoints new chairman in overhaul I HONG KONG: Banking giant HSBC announcedthe appointment of a new chairman Monday as part of a management overhaul that will also see it choose a new chief executive, following a massive drop in profits in 2016.

British businessman Mark Tucker, currently group chief executive and president of insurance group AIA, will take over from Douglas Flint in October.

He will lead the hunt for a new CEO to replace Stuart Gulliver who is set to retire in 2018, the bank said in a statement to the Hong Kong stock exchange.-AFPHyundai signs $3.2bn deal for Iran oil project TEHRAN: Hyundai has signed a deal worththree billion euros ($3.2bn) to invest in a major Iranian oil project, the South Korean firm confirmed on Monday.

Hyundai Engineering plans to invest 3.1bn euros in the second phase of the Kangan oil production and refinery project in southwest Iran, it said in a statement.

Iranian media said the deal was signed in Tehran by Hyundai Engineering CEO Sang Ruk Sang, who then headed south to oversee the launch of a new assembly line for the company`s Elantra car.-AFPIntel to buy driverless car-tech firm for $15bn JERUSALEM: US chipmaker Intel agreed to buyanveness car-tecnnoiogy urrn iviouneye ior a>io.o unnon on Monday, positioning itself for a dominant role in the autonomous-driving sector after missing the market for mobile phones.

The $63.54-per-share cash deal marks the largest purchase of a company solely focused on the selfdriving sector.-Reutersanveness car-tecnnoiogy urrn iviouneye ior a>io.o unnon on Monday, positioning itself for a dominant role in the autonomous-driving sector after missing the market for mobile phones.

The $63.54-per-share cash deal marks the largest purchase of a company solely focused on the selfdriving sector.-Reuters