APICORP Assets Hit $5bn
Arab Petroleum Investments Corporation (APICORP), a development bank owned by the 10 member states of the Organization of Arab Petroleum Exporting Countries (OAPEC), announced on 24 September that its assets had reached $5.12bn as of 30 June 2013. Net profits for the first half of 2013 grew 31% to $66mn from $51mn in the corresponding period of 2012.
APICORP’s Chief Executive and General Manager Ahmad al-Nuami said “we...