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Streets and infrastructure in three cities suffer extensive damage as Israeli forces dig up roads and destroy houses
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Mashreqbank’s Profits Decline 14pc on Investment Losses
DUBAI - Mashreqbank PSC, the United Arab Emirates’ fourth-biggest bank by assets, said full-year profits declined 14 per cent on losses from investments.
Net income fell to 1.64 billion dirhams ($446 million), the Dubai-based bank said in a statement on Saturday on the Web site of AmeInfo. It didn’t provide a comparable 2007 figure.
The bank reported a 335 million-dirham loss from investments in 2008, compared with profit of 488 million dirhams the previous year, according to the statement.
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