I. Headlines:
· Green light to a three Islamic Banks giant merger.
· Tamkeen’s ESF helps 1,750 distressed Cos.
· Political Development Program for women.
II. Political:
Leadership in Bahrain congratulates Somali and Congolese Presidents
HM the King His Majesty King Hamad bin Isa Al-Khalifa, HRH Prime Minister Prince Khalifa bin Salman Al-Khalifa and HRH Prince Salman bin Hamad Al-Khalifa, Crown Prince and Deputy Supreme Commander, all sent cables of congratulations to Somali President Sheikh Sharif Sheikh Ahmed and his Congolese counterpart Joseph Kabila marking their countries’ National Days. They included in them wishes and salutations from Bahrain as a nation and leadership.
III. Economic, Trade, Business:
Green light to a three Islamic Banks giant merger.
Three leading Bahrain-based Islamic banks Elaf Bank, Capivest and Capital Management House have won approval from its shareholders to create a banking giant which will have shareholders’ equity of almost $350 million and assets in excess of $400 million. The announcement was made after general meetings of the three banks approved the transaction. The merger will be effective after obtaining the final approval of the CBB and the Ministry of Industry and Commerce. Transaction advisor at Kuwait Finance House in Bahrain stated that this is the first three-way merger to take place in the Kingdom. Commenting on the merger, Isa Habib, vice chairman of Elaf Bank said that the aim of this merger is to establish a strong banking institution that is able to compete solidly in a changing market.
Tamkeen’s ESF helps 1,750 distressed Cos.
Tamkeen, Labor Fund, announced that a total of 1,775 enterprises have benefited from its Enterprise Support Fund to date. The BD 10 million fund, launched in June 2011 is part of Tamkeen’s mission to support and develop the private sector in accordance with Bahrain’s 2030 vision, aims to help distressed companies continue their normal business activities. Dr. Ahmed Abdulghani Al-Shaikh,Tamkeen’s VP for Human Capital Development, said the large number of applications received by the Enterprise Support Fund from enterprise owners is a clear indication that there is a real need for this kind of support within the private sector.
Bahrain Air honoured at IATA meeting.
Bahrain Air, the national private carrier of the Kingdom, participated as a full member of International Air Transport Association (IATA) at its 68th annual general meeting and World Air Transport Summit held in Beijing. Many representatives from IATA's member airlines, industry associate partners, international and regional associations, leading manufacturers, industry suppliers and international media attended this meeting. The meeting, IATA's pre-eminent event, provides a focus for emerging industry issues and a forum for members to meet and network, Bahrain Air said.
IV. Social, Culture, Tourism:
Political Development Program for women.
A program aimed at promoting Bahraini women’s political development will be launched in September.
Bahrain Political Development Institute (BPDI) will organize the scheme in tandem with the Supreme Council for Women (SCW), in line with the National Consensus Dialogue recommendations and the National Women’s Development Strategy. The program, which will run until December 2014, focuses on promoting Bahraini women’s political development.
Head of 3rd International Forumhails HH Shaikha Sabeeka’s efforts for women.
Head of the 3rd International Forum residing in Azerbaijan hailed the efforts exerted by the wife of HM the King and Chairperson of the Supreme Council for Women (SCW) HRH Princess Sabeeka bint Ibrahim Al Khalifa towards women affairs in Bahrain. He said that this reflected on the great achievement accomplished by Bahraini women affirming with that the great role that first ladies could play towards further development of women affairs in their countries. For her part the second Deputy Chairperson of the SCW Dr Baheya Jawad Al Jishi extended her thanks and appreciation of the lauding of the forum HRH’s and the leadership of this country.
V. Photo of the Day:
* Key member Mr. Abdulatif Al Mahmoud speaking at the NUA or the National Unity Assembly’s first annual general meeting and stressing on the importance of holding a national dialogue with opposition groups and ending street violence. 30th June 2012 Al-Wasat.
Issued by:
Embassy of Malaysia,
MANAMA
1st July 2012