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Imran Khan walks out from Pakistan’s political field

08/18/2014 09:46:52 AM

ISLAMABAD: Chairman Pakistan Tehreek-i-Insaaf (PTI) Imran Khan on Monday walked out from the National Assembly in a graceful manner, the step likely to elevate the political stature of the PTI. Imran Khan along with his elected members reminded peopl > read more

Imran Khan’s PTI quits from National, Provincial Assemblies

08/18/2014 09:27:36 AM

ISLAMABAD: Pakistan Tehreek-i-Insaaf (PTI) on Monday resigned from the National and provincial assemblies’ seats, except PKP, as part of ongoing protest against the Government of Prime Minister Mian Mohammed Nawaz Sharif. The decision to this effec > read more

Tadawul favorite list for foreign investors

08/18/2014 04:26:25 AM

Mubasher Financial Services, one of the leading regional financial institutions in the Middle East, announced that MubasherTrade Research has launched a KSA Favorite List which highlights its top investment ideas across the Saudi market. The list com > read more

Saudi stock market expects $55b foreign investments

08/18/2014 03:49:46 AM

MANAMA: Finally, the largest MENA and GCC market will soon be opened to foreigner investors, with an expected $55billion of inflows, according to a report. Last month, Saudi Arabia revealed its intention to open up its $570billion stock market to [&# > read more

Bahrain setup a committee to implement Riyadh agreement

08/17/2014 16:37:45 PM

MANAMA: The Cabinet on Sunday decided to set up a committee headed by the Foreign Minister to take the necessary procedures for the implementation of the Riyadh agreement. His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired > read more

Achieving single currency remains priority of GCC

08/17/2014 16:34:55 PM

MANAMA: His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa underlined that the Unified Gulf Currency is a goal which GCC citizens are looking forward to achieving, being a step towards the Gulf Union expected by “all of [ > read more

Bahrain to take strict action on citizenship violations

08/17/2014 16:32:15 PM

MANAMA: The Kingdom of Bahrain on Sunday said that it would take stern action against the violators of the Kingdom’s Citizenship Law. “Bahrainis who took the nationality of another country, whether of their own volition or through others’ i > read more

Bapco supports heritage preservation initiative

08/17/2014 15:49:38 PM

MANAMA: The Bahrain Petroleum Company (Bapco) has recently sponsored the Miracle Publishing on the occasion of the recent launch of its Bahraini book collection, to commemorate its 20th anniversary. Bapco’s Chief Executive, Dr. Peter Bartlett recei > read more

BIBF students excel in global exam

08/17/2014 15:48:28 PM

Manama: BIBF students who underwent the Association of Chartered Certified Accountants (ACCA) exams in June have attained an outstanding overall pass rate of 73% compared to a 44% global average, according to the exam results recently released by the > read more

BBK CE honours outstanding students

08/17/2014 15:46:31 PM

BBK’s Social Staff Activities Committee (SSAC) held its 12th ceremony of honoring the graduating students of the bank’s staff members’ sons and daughters whom have obtained a GPA above 90% in high school. The committee had honoured four student > read more

MENA region faces social progress challenges

08/17/2014 15:44:05 PM

The use of technology in the public sector, the increasing appetite for alternative investments, achieving capital efficiencies and cost savings in the workplace and measuring national performance via non-traditional indicators are all issues that ar > read more

$463m cloud computing MEA market to grow

08/17/2014 15:42:10 PM

Across the Middle East and Africa (MEA) region, cloud computing adoption is gradually taking off as per a recent industry survey. Between 2012 and 2017, the region is expected to have the highest cloud traffic growth rate in the world […] > read more

Kuwaiti real estate major enters Bahrain

08/17/2014 15:08:20 PM

MANAMA: Kuwait based Al Tijaria Real Estate Company announced to set up Bahrain operations as part of the company’s diversification strategy. As part of Al Tijaria Real Estate Company’s strategy of diversifying its investments and expanding geogr > read more

Batelco offers the best broadband packages

08/17/2014 14:57:57 PM

Manama: Batelco, the Kingdom’s leading Broadband services provider has already upgraded its Broadband packages twice since the beginning of the year, with customers benefitting from automatic upgrades offering higher speeds, bigger thresholds and l > read more

Alstom, Huawei launches 1st live 4G pilot for CBTC2

08/16/2014 19:40:53 PM

Alstom launched an LTE (4G) pilot for the metro market to demonstrate the performance of a multi-services broadband radio network. Alstom has been working on LTE since the technology has been available from the telecom industry. This pilot will be [& > read more

Location based services market to reach $43.3b

08/16/2014 19:24:07 PM

Hampshire, UK: The Mobile Context and Location Services market will reach $43.3 billion in revenue by 2019, rising from an estimated $12.2 billion in 2014, according to a new report from Juniper Research forecasts. The report highlighted that over tw > read more

GCC debt capital market on the rebound

08/16/2014 19:20:02 PM

The GCC debt capital markets in 2014 had an active second quarter, particularly in corporate bonds and sukuk, with large size deals that received a positive response from investors which was demonstrated by the tight yields achieved, according to PwC > read more

European IPO market fetches $32.7b in H1

08/16/2014 19:16:40 PM

The European IPO market is enjoying buoyant conditions driven by rising market confidence and demand for new shares as investors seem relieved that the Eurozone crisis has dwindled. “Both in terms of number of transactions and money raised Euro > read more

GCC IPO market up 381% to $1.8b in H1

08/16/2014 19:12:47 PM

Dubai: The initial public offering (IPO) market in the Gulf Cooperation Council (GCC) in the second quarter (Q2) of 2014 witnessed a total of nine IPOs raising $1.855 billion, compared to a total of five IPOs raising $385 million in […] > read more

Seven terrorist attacks warnings to PAT Chief

08/16/2014 15:03:34 PM

Islamabad: The Chairman of Pakistan Awami Tehreek (PAT) Allama Tahirul Qadri told tens of thousands of his Inqalab Rally, the revolution rally, participants that the authorities have handed him over seven possible terrorist attacks warnings. PAT Chie > read more

S&P affirms AA/A-1+ ratings on Kuwait

08/16/2014 13:36:08 PM

Standard & Poor’s Ratings Services affirmed its AA/A-1+ long and short-term foreign and local currency sovereign credit ratings on Kuwait. The outlook is stable. “The ratings on Kuwait are supported by the sovereign’s high levels of > read more

Kuwait’s GDP surplus to reach 30%

08/16/2014 13:34:34 PM

Standard & Poor’s Ratings Services said that the general government budget has shown a surplus of at least 10% of GDP for the past decade. “We estimate that–including our estimate of the government’s income from vast investmen > read more

IS factor impacts region’s sovereign ratings

08/16/2014 13:32:17 PM

Standard & Poor’s Ratings Services said that the Middle East region’s ratings are constrained by the geopolitical tensions in the region as well as what S&P see as insufficient popular representation due to Kuwait’s electoral system > read more

Bahrain emerges as a hotspot for telecom business

08/16/2014 13:19:51 PM

Seef District: The Kingdom of Bahrain’s telecom sector has emerged as one of the vital pillars of the economy. The Telecommunications Regulatory Authority Bahrain (TRA) has published its Annual Report for the year 2013. This annual report looks > read more

Middle East investors continue to invest in London

08/14/2014 10:08:23 AM

Savills and Deloitte Real Estate have been jointly instructed to sell The Gherkin at 30 St Mary Axe in the City of London following the appointment of Phil Bowers, Neville Kahn and Alex Adam of Deloitte LLP as the Joint […] > read more

ABC secures $750m 3-year term loan facility

08/14/2014 09:56:25 AM

MANAMA: Arab Banking Corporation (ABC) announced the successful closing of a US$750 million Syndicated Term Loan Facility. The Initial Mandated Lead Arrangers and Bookrunners are HSBC Bank Middle East Limited, National Bank of Abu Dhabi PJSC, Natixis > read more

GFH reports $10.6m net profit for H1

08/14/2014 09:54:31 AM

Manama: Bahrain-based Gulf Finance House (GFH) reported a net profit of US$10.6 million for the period compared with US$4.2 million for the prior year period. The bank’s consolidated profits rose by 152% in current period compared to the prior > read more

Bahrain’s economy navigates through challenges

08/12/2014 23:02:23 PM

MANAMA: The economy has successfully surmounted the challenging conditions surfaced in 2011, thanks to the robust fundamentals of the economy, according a leading banker. “Generally speaking, the economy in the past two years has successfully p > read more

ABG boasts 496 branches across 15 countries

08/12/2014 22:21:02 PM

MANAMA: Bahrain-based Al Baraka Banking Group (ABG) has opened 17 new branches in the first of 2014 and 54 branches in 2013. “The expansion reflects ABG’s determination to consolidate and expand our activities in the countries where we op > read more

Euro 1.7b shot in the arm of Alitalia

08/12/2014 22:07:41 PM

Etihad Airways and Alitalia announced that they have signed the transaction implementation agreement which will result in a €1,758 million investment to build a reinvigorated Alitalia as a competitive, sustainably profitable business. The recapital > read more

Abadi’s appointment as PM may spark shia-shia war

08/12/2014 21:46:39 PM

Former Prime Minister, Nouri al-Maliki, is likely to challenge Haidar al-Abadi’s appointment through the State of Law Coalition (SLC) and attempt to mobilise protests by his supporters in Baghdad, according to the analysis of Meda Al Rowas, Senior > read more

Batelco partners with Palo Alto Networks

08/12/2014 21:39:23 PM

Manama, Bahrain: Batelco, the Kingdom’s leading telecommunications company, is now a Silver Level partner with Palo Alto Networks, a global provider of next-generation enterprise security solutions. Palo Alto Networks technologies protect enterpris > read more

US, EU sanctions may bite Schlumberger’s business

08/12/2014 21:35:01 PM

PARIS: Schlumberger in a statement said that it would continue to monitor the post US-EU sanctions on Russia events closely to ensure that its activities and actions are in full compliance with applicable regulations. Both the United States and the [ > read more

Etihad starts cargo flights to Moscow

08/12/2014 21:24:36 PM

Abu Dhabi: Etihad Cargo, the freight business of United Arab Emirates (UAE) flag carrier Etihad Airways, will launch twice weekly freighter rotations linking Abu Dhabi (AUH) and Moscow Domodedovo (DME) airports on 13 August 2014. The dedicated cargo > read more

African Cos in Dubai witness growth of 171%

08/12/2014 21:20:20 PM

Dubai: African companies operating in Dubai have seen a percentage growth of 171% from the period from 2008 to mid-2014, according to Dubai Chamber of Commerce and Industry report. The UAE-Africa growing trade ties, challenges and opportunities will > read more

Markaz reports KD3.3m profits for H1

08/12/2014 21:09:14 PM

Kuwait: Kuwait Financial Centre (Markaz) reported a net profit, attributable to shareholders, of KD 3.03 million (EPS 6 Fils per share) for the first half ending 30th June 2014, as compared with a net profit of 3.59 million (EPS 7 […] > read more

CBB Sukuk Al-Ijara oversubscribes by 315%

08/12/2014 21:05:10 PM

Manama: The Central Bank of Bahrain (CBB) announced that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed by 315%. “Subscriptions for worth of BD63 million were received for the BD20 million iss > read more

Bapco makes Summer Camp interactive

08/10/2014 10:10:28 AM

MANAMA: The Bahrain Petroleum Company (Bapco) is holding a series of interactive presentations at various locations in the company like the Refinery, Bapco Club, and HRH Princess Sabeeka Park in Awali, as part of the company’s ongoing summer camp a > read more

Bentley Motors sales up 90% in Bahrain

08/10/2014 10:03:35 AM

DUBAI: With the Bentley Middle East dealers remained global leaders in sales, Bentley sales were up 90% in Bahrain during the first half of the year. Bentley Motors Middle East has announced its most successful half year ever with an […] > read more

Middle East banks need enhanced loan disclosures

08/10/2014 09:58:34 AM

MANAMA: The second part of a CFA Institute study titled ‘Financial Crisis Insights on Bank Performance Reporting’ revealed systematic differences in how banks disclose fair values of loans and write off bad or “impaired” debt in 16 co > read more

Ithmaar Bank CEO honours the Best Branch

08/10/2014 09:32:32 AM

MANAMA: Ithmaar Bank’s main branch won the coveted Best Branch Award for the first quarter of 2014. The Award was presented to the Main branch Manager, Sami Al-Hajri, by the Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim, at a […] > read more

ABG reports $143m net profit in H1

08/10/2014 09:26:36 AM

MANAMA: Bahrain-based, Islamic banking major, Al Baraka Banking Group (ABG), on Sunday said that it had achieved $143million net profit in the first half, beating the projected figures for the six months. The bank in a statement said that these [R > read more

Bahrain’s reforms reflective of public aspirations

08/10/2014 09:12:50 AM

MANAMA: The Kingdom of Bahrain will continue on the right path of democratic reforms as main source of the authority by accommodating the aspirations of the people, according to His Majesty King Hamad. This was stated by Shaikh Mohammed bin […] > read more

Interior Minister briefs cabinet on NAC criminal cases

08/10/2014 09:10:21 AM

MANAMA: The Government is compiling a report on the criminal negligence in public funds expediency wherein cases were referred to the courts on the findings of the National Audit Court. The Official Government Spokesperson and State Minister for Info > read more

Cabinet says no bonuses without criteria

08/10/2014 09:07:14 AM

MANAMA: The Cabinet on Sunday approved a memorandum seeking certain criteria for granting bonuses to the boards or heads of entities. The Official Government Spokesperson and State Minister for Information Affairs Sameera Rajab after the weekly Cabin > read more

Bahrain witnesses projects completion more swiftly

08/10/2014 09:03:23 AM

MANAMA: The average completion of projects in Bahrain has increased from 73% by the end of December 2013 to 77% by the end of the second half of 2014. ? The Official Government Spokesperson and State Minister for Information Affairs […] > read more

Bahrain takes steps to keep Ebola virus at bay

08/10/2014 09:02:04 AM

MANAMA: The Ministry of Health has taken all necessary steps to keep Bahrain Ebola virus free in line with the directives of the Government. The Official Government Spokesperson and State Minister for Information Affairs Sameera Rajab after the weekl > read more

BMI Bank’s operating income up 6% to BD11.46m

08/09/2014 14:19:36 PM

Manama: Bahrain-based BMI Bank, a subsidiary of Al Salam Bank–Bahrain, reported total operating income for the half year of BD11.46 million as compared to BD 10.78 million reported during the corresponding period in 2013, an increase of over 6%. Th > read more

KHCB’s net profit up 166% to BD1.2m in Q2

08/07/2014 12:08:28 PM

MANAMA: Bahrain-based, Khaleeji Commercial Bank (KHCB), an Islamic retail bank, reported a net profit of BD1.2 million in the second quarter, an increase of 166.9% compared to same period last year. The bank’s financial position remains strong with > read more

Gaza conflict could jeopardize Israel deficit target

08/07/2014 07:16:41 AM

London: The fiscal and economic cost of Israel’s latest incursion into the Gaza Strip may cause the government to narrowly miss its budget deficit target this year, according to Fitch Ratings. But better-than-expected performance in 1H14 will h > read more

UN Chief demands investigations of Israeli actions

08/07/2014 07:11:16 AM

New York: Ban Ki-moon, UN Secretary General in his speech at the General Assembly said that attacks against UN premises, along with other suspected breaches of international law, must be swiftly investigated. He condemned the Israelis repeated shelli > read more

Civilian deaths, destruction of Gaza shame the world

08/07/2014 07:08:01 AM

New York: The massive killings of Palestinians and destruction in Gaza by Israel has shocked and shamed the world. “More than 1,800 Palestinians have been killed – the vast majority civilians, including hundreds of women and children. Three c > read more

First Solar to build 52.5MW PV power plant in Jordan

08/06/2014 19:40:07 PM

Amman: First Solar, has signed an agreement to provide engineering, procurement and construction (EPC) services for the 52.5 megawatt (MWAC) Shams Ma’an photovoltaic (PV) power plant, in the Hashemite Kingdom of Jordan. The company has also finaliz > read more

Coca Cola plans $5b investments in Africa

08/06/2014 19:29:50 PM

Washington: The Coca-Cola Company and its African bottling partners announced a new investment of US$5 billion during the US-Africa Leaders Summit. The investment, to be made over the next six years, increases its total announced investment in Africa > read more

Annual Summer Camp kicks off at Bapco

08/06/2014 19:22:25 PM

MANAMA: The Bahrain Petroleum Company (Bapco) has announced the start of its annual Summer Camp programme as of August 1st, 2014. The camp features a plethora of sports and social activities which are being conducted at the Bapco Club in […] > read more

Bapco hosts Capital Governorate students

08/06/2014 19:15:38 PM

MANAMA: The Bahrain Petroleum Company (Bapco) has hosted a group of children from the Capital Governorate’s summer programme. The visit was held in line with Bapco’s continued commitment towards the society and towards developing the youth of the > read more

KFH-B hosts Ithra summer camp’s participants

08/06/2014 19:10:47 PM

MANAMA: As part of the corporate social responsibility efforts and dedication towards the development of Bahraini youth, Kuwait Finance House – Bahrain (KFH-B) participated in one of the Bahraini’s Youth Enrichment Programmes, “Ithra Su > read more

Qatar Airways plans extra flights to Madrid

08/06/2014 19:03:35 PM

DOHA: Commencing November 16, Qatar Airways will be increasing its operations to Madrid, Spain, with the addition of three extra flights per week. The increase in frequency will bring the total number of flights up from seven to 10 per […] > read more

Baytik inks agreement with pipe manufacturing facility

08/05/2014 19:44:00 PM

MANAMA: Baytik Industrial Oasis Company, a wholly owned subsidiary of KFH-B announced that ELCOS, a leading international pipe manufacturing company has leased 4,800 square meters of light industrial units at its state of the art modular Baytik Indus > read more

VCBank’s yearly profits up 84% to $15m

08/05/2014 19:38:17 PM

Bahrain-based Islamic investment bank, Venture Capital Bank (VC Bank), reported a net profit of $15 million for the year ended 30 June 2014 representing an 84% increase over the prior 12 month period net profit and a return on net […] > read more

ABG-World Bank embarks on major global project

08/05/2014 19:33:33 PM

Bahrain-based, Islamic banking major, Al Baraka Banking Group (ABG), on Tuesday that it was embarking yet on another major project by working closely with World Bank on risk management project. The ABG collaboration with the World Bank paves the way > read more

Economic risks remain high in Egypt

08/05/2014 19:17:07 PM

PARIS: Economic risks in Egypt remain extremely high in a global context, according to S&P Ratings Services. Standard & Poor’s Ratings Services on Tuesday published its “Banking Industry Country Risk Assessment: Egypt.” “We cl > read more

The SPE Middle East to host conference in Qatar

08/05/2014 18:54:16 PM

Doha: The 7th edition of the SPE Middle East Health, Safety, Environment and Sustainable Development Conference and Exhibition (MEHSE) returns to Doha, Qatar, 22–24 September 2014. The event will be held under the patronage of Dr. Mohammed Bin Sale > read more

GCC food imports to reach AED194b

08/05/2014 18:48:48 PM

Dubai: Following decades of multi-billion dollar investments in the GCC’s aviation and maritime infrastructure and Free Zone trade hubs, shaping an economically-sustainable regional food logistics infrastructure will top the agenda at this year’s > read more

Etihad sets record of carrying 181,333 pax in 4 days

08/05/2014 18:18:59 PM

Etihad Airways has enjoyed the busiest four days in the history of the airline with 181,333 passengers flying with the Abu Dhabi-based airline during the post Eid Al Fitr period. On Saturday 2 August, 46,572 passengers boarded Etihad Airways flights; > read more

S&P assigns A rating to AIG MEA

08/05/2014 18:11:52 PM

London: Standard & Poor’s Ratings Services on Tuesday assigned it’s A long-term counterparty credit and insurer financial strength ratings to Dubai-based AIG MEA Ltd. (AMEA). The outlook is stable. “Our ratings reflect our view of A > read more

Russia begins to target iconic Western brands

08/05/2014 18:02:32 PM

Potential losses are significant as Russia is the EU’s largest export market for its fruits and vegetables worth Euro 2billion annual turnover and is the second-largest export market for US poultry, accounting for 8% of US poultry exports, acco > read more

Four Argentine provinces likely to delay debt

08/05/2014 17:57:11 PM

The four Argentine provinces not covered by the agreement are likely to try and resolve the stand-off through bilateral negotiations, according to Laurence Allan, Head of Latin America Analysis at IHS Country Risk. “All four are key oil and gas > read more

Bahrain: free of killer Ebola virus

08/01/2014 14:42:01 PM

MANAMA: Public Health Director at the Ministry of Health has affirmed that the Kingdom is free of the Ebola virus, noting it poses no threat to the country currently. She pointed out the Health Ministry is following up constantly the […] > read more

Bahrain: the 1st nation to deliver relief aid to Gaza

08/01/2014 14:36:21 PM

MANAMA: Upon directives from the Chairman of the Board of Trustees of the Royal Charity Organisation (RCO) Shaikh Nasser bin Hamad Al Khalifa, the first Bahraini aid consignment was distributed in the Gaza Strip, which makes Bahrain among the first [ > read more

HM King Hamad praises efforts for Palestinian fund

08/01/2014 14:26:38 PM

MANAMA: His Majesty King Hamad bin Isa Al Khalifa lauded the efforts of Bahrain National Committee for Supporting the Palestinian People in Gaza which are spearheaded by the Royal Charity Organisation Board of Trustees Chairman Shaikh Nasser bin Hama > read more

Morales declares Israel a Terrorist State

08/01/2014 14:23:46 PM

Bolivian President Evo Morales announced that his government was renouncing a 1972 treaty with Israel that allows citizens of each country to travel to the other without a visa. The Israeli offensive there, Morales stated, shows “that Israel is > read more

Nissan reports $24b operating profits for Q1

08/01/2014 14:20:09 PM

Kuwait: Nissan Motor Co., Ltd. announced $24.13billion operating profit for the three months to June 30, 2014. Operating profit rose to 122.6 billion yen for the first quarter of the 2014 fiscal year, representing a 5% margin on net revenues [… > read more

PayTabs: a game changer of $15b market

08/01/2014 14:06:09 PM

MANAMA: With the untapped e-Commerce market is expected to reach $15 billion by the end of 2015, PayTabs revolutionizes the whole online payment system by opening an account with Bubble Bash marking it first live merchant. PayTabs, a payment gateway > read more

BCCI applauds hosting of Health Insurance Forum

08/01/2014 13:43:14 PM

MANAMA: The Bahrain Chamber of Commerce (BCCI) applauded the upcoming Bahrain Health Insurance Forum and Exhibition set to be held in December 2014. The health and medical services sector committee, insurance and banking sector committee, and promoti > read more

Fitch assigns Kuwait Energy’s notes final B- rating

08/01/2014 13:33:30 PM

Moscow/London: Fitch Ratings has assigned Kuwait Energy plc’s (Kuwait Energy, B-/Stable) $250m 9.5% notes due 2019 a final senior unsecured B- rating. “We rate the notes at the same level as Kuwait Energy’s Long-term foreign currenc > read more

Ukrainian gains may trigger Russian involvement

07/31/2014 12:16:58 PM

Russia’s overarching strategy in Ukraine is to prevent the country joining Western structures such as the European Union and NATO, by keeping the country unbalanced and destabilised, both economically and politically, according to Matthew Cleme > read more

World fails to respond to killer Ebola virus

07/31/2014 11:39:22 AM

Freetown, Sierra Leone: AIDS Healthcare Foundation (AHF) which mourned the death of Dr. Sheik Humarr Khan said that Ebola outbreak has been unfolding for far too long without an appropriate global response. Late Dr Khan being a physician who had [ > read more

Argentina’s default makes funding more obscure

07/31/2014 11:28:15 AM

With the fiscal deficit widening and the economy in recession neither Argentina’s government nor the private sector would be able to meet such demands. The country’s highly indebted provinces in particular will struggle to secure funding, > read more

BMI-Al Salam merger creates a $5b robust bank

07/31/2014 11:20:39 AM

DUBAI: Standard & Poor’s Ratings Services on Thursday said that merger of BMI Bank and Al salam Bank has created a much stronger entity with consolidated assets of $5 billion and capital base $308 million. S&P in a statement also […] > read more

Emirates partners with Portugal’s football club

07/30/2014 08:48:36 AM

Lisbon: Emirates, a connector of people and their passions, and Sport Lisboa e Benfica (Benfica), Portugal’s most successful football club, have signed a three-year agreement. Emirates is now the Official Airline Partner of the club until 2016. The > read more

China likley to takeover US in natural gas production

07/30/2014 08:42:45 AM

London: China could overtake the US in terms of natural gas production as experts predict demand will double within the next five years. As well as providing China with an alternative source of energy, the country’s focus on this resource [R > read more

SKAL Bahrain wins global accolade

07/30/2014 08:29:47 AM

MANAMA: SKAL International Bahrain 370 has been awarded as the “Best Asian Club for the year 2014″ among more than 40 clubs in Asian Area which covers East, West and Southeast Asia. SKAL International World President Karine Coulanges awar > read more

Argentina default: a blessing in disguise

07/30/2014 08:23:47 AM

Argentina default appears to see default as the less costly option, according to Principal Latin America Analyst Carlos Caicedo at IHS Country Risk. “Argentine authorities seem to have reached the conclusion that to default now and renegotiate late > read more

S&P says IMF move to support Moroccan reforms

07/30/2014 08:11:49 AM

London: Morocco’s new two-year Precautionary Liquidity Line (PLL) from the IMF supports Fitch Ratings’ assumption that the government will continue to pursue structural reforms and budget tightening. The two-year deal is worth $5billion, > read more

Investments in smart cities to reach $12b

07/30/2014 08:07:16 AM

El Segundo, Calif. With the number of smart cities worldwide will quadruple within a 12-year, annual investment on smart city projects reached slightly over $1 billion in 2013, but will go on to surpass $12 billion in 2025. The surge […] > read more

Bapco supports Nasser 7 football tourney

07/26/2014 10:08:59 AM

MANAMA: The Bahrain Petroleum Company (Bapco) recognised for its co-sponsorship of the Nasser 7 Ramadan Football Tournament, which was held from 2-22 July 2014 under the kind patronage of HH Sheikh Nasser bin Hamad Al Khalifa, Chairman of the Supreme > read more

ABC Islamic net profit up 25% to $7.5m

07/26/2014 10:03:13 AM

Manama: ABC Islamic Bank on Saturday said its net profit for the first half of 2014 was up 25% to $7.5 million, compared with $6 million reported in the first half of 2013. Total operating income rose to $10.7 million, […] > read more

Deloitte tops in security consulting services

07/26/2014 10:02:08 AM

Deloitte Touche Tohmatsu Limited (DTTL) announced that Deloitte ranked number one globally, based on revenue, in Security Consulting Services by Gartner for the second consecutive year in their recently released market share analysis entitled Market > read more

Al Hawaj hosts 20th annual gabgha

07/26/2014 09:36:38 AM

MANAMA: Al Hawaj, one of the leading perfumery and trading houses in the region, hosted the 20th traditional Gabgha for media at Al Hawaj Graden in Budaiya. The event was attended by over 200 invited media reps and guests, members […] > read more

SICO profit up 166% to BD 5.1m in H1

07/26/2014 09:22:16 AM

MANAMA: Bahrain-based Securities & Investment Company (SICO), net profit for the first half of 2014 increased by 166% to BD 5.1 million (H1 2013: BD 1.9 million). The bank said its operating income grew by 87% to BD 8.2 million […] > read more

Over $45m cash windfall for Alba shareholders

07/26/2014 09:10:10 AM

MANAMA: The board of directors of Aluminium Bahrain (Alba) which announced its second quarter and first half of 2014 on Saturday results proposed interim dividend of BD16.9 million ($45million). “Alba was able to deliver another strong operational > read more

S&P affirms A/A-1 ratings on ANB

07/25/2014 14:54:36 PM

PARIS: Standard & Poor’s Ratings Services affirmed its A/A-1 long- and short-term counterparty credit ratings on Arab National Bank (ANB). The outlook remains positive. “The affirmation reflects our view of ANB’s sound business and > read more

Ukraine government falls apart as coalition collapses

07/25/2014 14:47:45 PM

MANAMA: The demise of Ukraine’s government was not unexpected, according to Alisa Lockwood, Head of Europe/CIS, IHS Country Risk. “The coalition was always a fragile one, and pressure had been building for early elections in any case. The par > read more

IATA Chief: despite accidents air travel is still safe

07/25/2014 14:29:38 PM

MANAMA: Despite unfortunate accidents of MH17, GE222 and AH5017, air travel is still safe, according IATA Chief. “This has been a very sad week for everyone involved with aviation. Our heartfelt sorrow goes to all those who have lost their [… > read more

Batelco reports net profit of BD24.9m for H1

07/25/2014 14:21:10 PM

MANAMA: Batelco Group on Friday reported net profit of BD24.9million (US$66m) versus BD25.3million (US$67.1m) for the corresponding period in 2013, a slight decrease of 1% year over year and a 28% decrease since last quarter. Batelco, the internation > read more

AFS unveils three new products, services

07/23/2014 08:38:13 AM

MANAMA: Bahrain-based Arab Financial Services (AFS), one of the leading payment processors in the region, announced the formal launch of three new products that will be offered to all their member banks. AFS, subsidiary of the Arab Banking Corporatio > read more

BNH half yearly net profit up 23% to BD2.3m

07/23/2014 08:24:54 AM

MANAMA: Bahrain National Holding Company (BNH) the parent company of Bahrain National Insurance (bni) and Bahrain National Life Assurance (bnl), has announced a group net profit of BD2.34m for the six months ending 30th June 2014 compared to BD1.90m > read more

Majid Al Futtaim reports Dh12.8b revenues

07/23/2014 08:14:52 AM

Dubai: Majid Al Futtaim on Wednesday said that its six months revenues were up 14 per cent to AED12.8billion compared to the first half of last year. The company reported its preliminary and unaudited operational and financial results for the [… > read more

Batelco delivers 4G/LTE roaming in KSA

07/23/2014 07:54:40 AM

Batelco, the Kingdom of Bahrain’s leading telecommunications services provider meets the needs of its customers travelling in Saudi Arabia by providing LTE Data Roaming services. Batelco was first to launch the beneficial service earlier this year. > read more

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