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Doha Bank inaugurates new branch in Kochi
Pinarayi Vijayan, M.A. Yusufali, Dr R. Seetharaman and Doha Bank management attend the opening of its branch in Kochi.
M.A. Yusufali, managing director, Lulu Group International; Shaikh Fahad bin Mohammad bin Jabor Al Thani, chairman, Doha Bank; Shaikh Abdul Rehman bin Mohammad Bin Jabor Al Thani, managing director, Doha Bank; board members, executive management, senior Kerala government officials were present on the occasion.
As part of the inauguration, an investors' conference on 'Kerala-Qatar Investment Opportunities' was also held, which witnessed the participation of major investors and SMEs from Kerala, the GCC and Doha Bank officials.
Dr R. Seetharaman, CEO of Doha Bank, gave insights on various issues, including the global economy, global investment, Indian economy, industrial development in Kerala and GCC's relations with India.
"The IMF's July 2016 outlook had revised global growth down to 3.1 per cent in 2016, mainly on account of Brexit concerns. The outlook has worsened for advanced economies to 1.8 per cent in 2016 while it remains at 4.1 per cent for emerging market and developing economies. In an environment of anaemic growth, the global economy faces pronounced risks, including a slowdown in major emerging markets, sharp changes in financial market sentiment, stagnation in advanced economies and struggle in revival of commodity prices," he said.
He said: "The Indian economy is expected to grow by 7.4 per cent in 2016-17. The drop in oil price could ease the pressure on India's current account deficit and fiscal deficit."
- business@khaleejtimes.com
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