NO. 30


Financial and Banking News

Regional Financing

Apicorp's Net Profit Falls 26% In 1994

The OAPEC-sponsored Arab Petroleum Investments Corporation (Apicorp)announced net profits of approximately $20mn for 1994, compared to $27mn in1993, following a board meeting held in Cairo on 5 April. According to a pressrelease issued by Apicorp, the decline in profit is attributed to sharpfluctuations in interest and exchange rates, adversely affecting the equity andbond markets...