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Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

Qatar Investment Authority deals a blow to Credit Suisse, lowers stake

    • The QIA now hold a below five-percent stake in the Swiss bank
    • Earlier it held about 133 million shares, making it the bank’s biggest shareholder

    In yet another crushing blow to the standing of Credit Suisse, the Qatar Investment Authority (QIA) has lowered its stake in the bank to below 5 percent, after one of the most turbulent years since the global financial crisis.

    QIA holds 4.8 percent in Credit Suisse, or about 128 million shares, according to a filing with the Securities and Exchange Commission on Wednesday. The QIA had previously held about 133 million shares, making it the Swiss bank’s biggest shareholder, according to Bloomberg data.
    The stake reduction means that QIA may no longer be the Swiss bank’s largest shareholder. Harris Associates has a holding of about 133 million shares, the data show.

    Credit Suisse has been hit this year by the blow-ups of Archegos Capital Management and Greensill Capital. The two scandals caused billions of dollars in losses and further dents to its reputation, Bloomberg said.