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Yes Bank turns CEO into a billionaire as stock climbs

  Bloomberg Rana Kapoor, the co-founder and chief executive officer of Yes Bank Ltd, has become a billionaire as shares in the lender jumped 16.4% this month, making it the best-performing stock among India’s banks. The Mumbai-based lender is benefiting from its low bad-loan ratio and robust return on equity, according to Alpesh Mehta, Mumbai-based analyst at Motilal Oswal Securities ...

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QIB achieves $152mn profit

  DUBAI / Reuters Qatar Islamic Bank (QIB), the Gulf state’s largest sharia-compliant lender by assets, met analysts’ average forecast as it reported a 2 percent rise in fourth-quarter net profit, according to reports. It made a net profit of 555 million riyals ($152 million) during the three months to Dec. 31, compared with 544 million riyals in the same ...

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Oculus VR founder draws fire at Facebook trial

  Bloomberg The young entrepreneur credited as the brains behind Facebook Inc.’s virtual reality headset was accused in court of betraying a company that had worked with him to display the technology at a trade show. Oculus VR founder Palmer Luckey, whose startup was bought by the social media giant for about $2 billion in 2014 when he was 21, ...

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