Dubai / Reuters Commercial Bank of Qatar (CBQ) swung to a third-quarter net loss, it reported late on Tuesday, as the Gulf Arab state’s third-largest lender by assets was forced to set aside more cash to cover bad loans. The results, the first since the appointment of former Australia and New Zealand Banking Group banker Joseph Abraham as chief …

  Bloomberg The Bank of Uganda lowered its benchmark interest rate by 100 basis points to 13 percent, saying slowing inflation gave it room to support flagging growth. Two of three analysts surveyed by Bloomberg predicted the reduction, while one expected policy makers to keep the benchmark rate at 14 percent. The monetary policy committee has cut the rate by …

  Dubai / AFP A modest recovery in oil prices falls short of filling budgetary gaps in crude-exporting Gulf countries, the International Monetary Fund said, stressing the need to cut spending. The price of the region’s main commodity has partially rebounded and is hovering around $50 per barrel having hit a 10-year low of less than $30 in January, from …