No. 07



Mashreqbank Shrugs Off South East Asian Rumors

The Dubai-based retail bank, Mashreqbank, which was hit by rumors of over-exposure toSouth East Asia late last year, has shrugged off any concerns by announcing profits ofDh485mn ($132mn) - up a hefty 39% over the previous year. It has to be said that the bankwas aided by a release of Dh61mn ($17mn) from "inner reserves," but strippingout that item still leaves an increase of 21% against the prior year. A senior...