The bottomline

DOHA: Qatar International Islamic Bank (QIIB) said Sunday profits for the first nine months this year have increased by 10 percent to reach 625 million riyals (QAR) ($171 million), against QAR 568 million ($155 million) in same period 2013.

QIIB Board Chairman and Managing Director, Sheikh Khaled Al-Thani, said in a statement the rise in profits reflected the bank’s solid financial position, backed by growth of the Qatari economy.

Sheikh Khaled said QIIB was focusing on dometic market and lucrative investment opportunities. (KUNA) OVERLAND PARK, Kansas: Sprint Corp. has cut 452 jobs from its Overland Park headquarters as part of a previously announced cost-cutting effort, the nation’s third-biggest cellphone carrier disclosed in a filing with the Kansas Department of Commerce.

The report, which was filed Friday, covers the first installment of layoffs planned throughout October. It doesn’t cover any job losses outside the headquarters campus, although they are believed to be happening too, The Kansas City Star reports.

The company said earlier this month in a filing with the Securities and Exchange Commission that it was cutting an unspecified number of jobs to better compete with AT&T and Verizon. Sprint said it would book a $160 million charge in its fiscal second quarter to cover the layoffs, which include managers as well as other employees. It may take more charges for future job cuts.

Job reviews are still underway. Friday’s disclosure said the local cuts were permanent and more would come. (AP)