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Bahrain s ABC triples Egypt market share with BLOM unit takeover

Bahrain's Arab Banking Corp (ABCB.BH) has completed the acquisition of a 99.5% stake in the Egyptian unit of Lebanon's BLOM Bank (BLOM.BY), which will allow ABC to triple its market share and balance sheet in Egypt.

UPDATE 1-Green and cheap? Doubts dog Lebanon s first electric car

By Timour Azhari, Thomson Reuters Foundation 5 Min Read (Adds comments from energy minister) BEIRUT, April 15 (Thomson Reuters Foundation) - Lebanon is launching its first electric car - billed as cheap and green - but sceptics say subsidised power will count for little in a flat economy reliant on fossil fuels and struggling to attract investment into renewable energy. Designed by Lebanon’s EV Electra, the coupe-style ‘Rise’ is the country’s first foray into the electric car market, a fast-growing sector that promises to lower planet-warming emissions. Costing $30,000, the Rise reaches 180km (112 miles) an hour and goes on sale in Lebanon and Europe in late 2021, pending certification.

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