Friday 6 May 2016
 
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Customer accounts safe says Qatar National Bank

Qatar National Bank, the Middle East's largest lender by assets, said it had taken immediate steps to ensure customers would not suffer any financial loss after a security breach last week exposed personal data of thousands of clients.

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World Bank revises 2016 oil price forecast to $41 per barrel

The World Bank has raised its 2016 forecast for crude oil prices to $41 per barrel from $37 per barrel in its latest Commodity Markets Outlook as an oversupply in markets is expected to recede. Amid improving market sentiment and

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Saudi Arabia central bank net foreign assets fall $6bn

Saudi Arabia's central bank, which serves as the kingdom's sovereign wealth fund, reported a fall of $6 billion in net foreign assets in March as low oil prices took their toll. Net foreign assets held by the central bank

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Quilter Cheviot opens office in Dubai

Discretionary investment management company Quilter Cheviot, part of Old Mutual Wealth, which can trace its heritage back to 1771, has been granted approval to open a new representative office in the Dubai International Financial Centre (DIFC) u

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Mashreq Q1 net profit falls 18.3pc

Mashreq, Dubai's third-biggest lender by assets, on Sunday posted a 18.3 percent fall in first-quarter net profit as it failed to recoup as many bad debts as it did in the corresponding period of last year. The lender made a n

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Apicorp total income up 3.7pc to $162m

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development bank, posted a total income of $162.04 million in 2015 compared with $156.28 million in 2014, an increase of 3.7 per cent. Its net profit before prov

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Apicorp total income up 3.7pc to $162m

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development bank, posted a total income of $162.04 million in 2015 compared with $156.28 million in 2014, an increase of 3.7 per cent. Its net profit before prov

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Al Rajhi Bank Q1 net profit rises 33pc

Al Rajhi Bank, Saudi Arabia's second-largest lender by assets, reported a 32.8 percent rise in first-quarter net profit on Sunday, beating analyst forecasts as it cut wage costs and fee income increased. The bank made a profit

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Development banks urged to put more energy into power for poor

The World Bank and other major development banks are investing far too little in getting electric power to poor people around the globe, and should allocate at least half their energy budgets to such projects, environmental groups said.

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IMF pledges more support to spur global growth

International Monetary Fund managing director Christine Lagarde said the fund would do more in 2016 to help its members meet economic growth objectives, including devoting more resources to protect vulnerable countries.  

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