REGIONAL

APICORP Posts Record Profit Of $105Mn For 2011

The Arab Petroleum Investments Corporation (APICORP) made a record net profit of $105.4mn for 2011, an increase of 11% from 2010’s $95mn. The multilateral development bank said that its total assets rose by 7% to $4.6bn in 2011 from 2010. APICORP’s general assembly, which met in Cairo on 8 April, also approved the board of directors’ recommendation to distribute $45mn in dividends to shareholders, another record in...