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Latest Update: Friday19/2/2010February, 2010, 12:16 AM Doha Time
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The Japanese auto industry suffered a fresh blow to its reputation yesterday as the transport ministry announced the recall of 4,000 Isuzu trucks, after Toyota said it was checking a fault with its top model.
German auto giant Daimler suffered a sharp loss last year that surprised markets and sent its share price plunging as the group reported results from one of the auto sector’s most challenging years.
Mid and small cap equities yesterday lifted Qatar’s bourse by 0.13% as local and foreign institutions continued to extend buying support.
Qatari banks will see further credit recovery with lending accelerating to 17-19% this year, Bank of America Merrill Lynch has said in a report. “QNB will lead the pack at 26%”, it said.
BofA Merrill Lynch raised Commercialbank of Qatar to “buy” from “neutral” and said it was bullish on Qatari banks as it sees strong loan growth off a low base, driven by government spending.
Finance and real estate sectors were the only significantly growing non-oil segments of the Qatari economy in the last decade, Bank of America Merrill Lynch has said in its latest report.
Britain posted its first ever budget deficit for the month of January this year, a worse than expected result for a Labour government struggling to pacify debt-wary markets ahead of an election it is tipped to lose.
The European Union called yesterday for the US to drop a controversial method of tackling unfairly priced imports, triggering an arbitration process at the World Trade Organisation.
The creation of a planned Islamic investment megabank is in “fairly advanced stages” and it will likely be launched in the next six to 12 months, an executive at a firm advising on the project said yesterday.
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