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Bahrain bans reporting on held Shiite activists
Bahrain’s public prosecutor has banned media from reporting on a prominent Shiite activist and scores of other opposition members detained in an ongoing crackdown ahead of October parliament elections.
Attack fuelled by newspaper’s anti-riots drive
POLICE were yesterday hunting for two masked men who attacked the managing editor of a Bahrain newspaper in Riffa. Muhannad Abu Zeitoun, who works for the Arabic publication Al Watan, was leaving the office for home when he was targeted at around 3am on Wednesday. The Palestinian, 31, suffered a shoulder injury after being stabbed [...]
‘Fire of terrorism’ will be wiped out says minister
Bahrain will extinguish the fire of terrorism from its soil, Interior Minister Shaikh Rashid bin Abdulla Al Khalifa pledged last night. He said acts of sabotage and arson by lawbreakers in various parts of the country will be stamped out. The tough clamp was pledged as the minister visited the General Directorate of Civil Defence, [...]
Closure warning to sheesha tents
RAMADAN sheesha tents that allow in minors will face fines or even closure, health officials warned yesterday. Action will also be taken against hotel tents that host private functions, offering sheesha to customers in the presence of non-smokers, they added. The move follows a case filed against the management of a four-star hotel by the [...]
Key role for Janahi as GFH eyes growth push
Gulf Finance House (GFH) chairman Esam Janahi has been appointed as executive chairman as part of the restructuring of GFH. The board also announced plans to raise $300 million for acquisition and expansion and asked for its shares to be re-listed on the market. The bank has also appointed Deutsche Bank AG (London branch) as [...]
GFH picks Deutsche Bank for $300m capital hike plan
Bahrain’s Gulf Finance House (GFH) plans to raise capital by $300m through equity-linked convertible murabahas or similar instruments, and has hired Deutsche Bank AG as a structuring agent. A murabaha is an Islamic money market product accounted for on banks’ balance sheets, under which a bank buys an asset from third party and sells it [...]
Bahrain says no link between arrested Shiites and Iran
Bahrain on Monday denied any link between Iran and a group of Shiite activists arrested over the past week over an alleged involvement in a network planning to shake the state’s security and stability. Bahrain’s National Security Agency “denies that there is any link or relation between the elements arrested and the Islamic Republic of [...]
BFH signs $240m deal with Al Salam Bank
Bahrain Financial Harbour (BFH) has signed a seven-year BD90.5 million ($240m) Ijara facility for the Financial Centre Project with Al Salam Bank Bahrain. The facility has Al Salam as mandated lead arranger in a syndicate including BBK, Kuwait Finance House (Bahrain and Kuwait) and National Bank of Bahrain as co-lead arrangers and Bahrain Islamic Bank [...]
Bahrain pay increases set to hit 5.3 per cent
Average salary increases in Bahrain are set to hit 5.3 per cent this year, according to a report by global consulting firm Hay Group. And at a seminar in the Gulf Hotel yesterday for human resource (HR) specialists, the consultants predicted that there would be continued steady growth in salary levels next year of around [...]
Moody’s downgrades Bahrain gov’t bond ratings on budget
International ratings agency Moody’s on Monday downgraded Bahrain’s local and foreign currency government bond ratings to A3 from A2 due to budgetary pressure, but kept a stable outlook. The ratings action was based on a “gradual but significant rise in the breakeven oil price in the Bahraini budget over recent years,” Moody’s Investors Service said [...]
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