Bahrain's Arcapita cuts jobs by 15%

27 February 2010

Arcapita, a Bahrain-based Islamic investment bank has said it had reduced its task force by 15% across its four offices in Manama, Atlanta, London and Singapore, in an effort to control costs after the economic downturn outlasted expectations, Reuters has reported. The firm had lost $159m in its fiscal 2010 second quarter, ended December 31.

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