I. Headlines:
· HM the King arrives in Jeddah.
· Alistair Burt met with HRH the Crown Prince, Interior and Foreign Ministers as well.
· London urges all concerned to engage in a dialogue and condemn all kind of violence: UK Minister.
· Bahrain’s top banks to vote on 3-way merger.
II. Political:
Alistair Burt met with HRH the Crown Prince, Interior and Foreign Ministers as well.
UK Minister in Charge of Middle Eastern and North African Affairs Mr. Alistair Burt was received yesterday, separately, by HRH Prince Salman bin Hamad Al Khalifa, Crown Prince who emphasized to the Minster that the appropriate solution to the effects of the recent events should engage all parties and take into account the interests of all social spectra in order to be able to continue the reform and developments march successfully. On the same day, Mr. Burt also Foreign Affairs Minister Shaikh Khalid bin Ahmed Al Khalifa and Interior Minister Shaikh Rashid bin Abdullah who both discussed the latest political developments in Bahrain, and discussed with him ways of consolidating the national reform and future progress and prosperity in the kingdom.
London urges all concerned to engage in a dialogue and condemn all kind of violence: UK Minister.
The United Kingdom’s Foreign Office Minister for Middle East and North Africa told the Bahrain media at a roundtable, yesterday, London wishes and urges all the concerned, from all the components and parties in Bahrain, to engage in a political dialogue and start of small steps to build on to bigger ones. The Bahrain Independent Commission of Inquiry report offers the way, he added. The Minister asserted also, upon the several meetings he made, that he had seen clear determination from all to take the political dialogue forward and he heard a clear condemnation of violence from all sides.
HM the King arrives in Jeddah.
HM King Hamad bin Isa Al Khalifa arrived in Jeddah yesterday on a brotherly visit to Kingdom of Saudi Arabia during which he will hold talks with King Abdullah bin Abdulaziz Al Saud to review solid historic relations between both countries, the latest regional and international developments and issues of mutual concern. HM the King was received on arrival at King Abdulaziz International Airport by Saudi Foreign Minister Prince Saud Al Faisal, Bahrain embassy Charge D'Affaires and the General Consul of Bahrain in Jeddah.
III. Economic, Trade, Business:
Bahrain’s top banks to vote on 3-way merger.
Kuwait Finance House (KFH-Bahrain), Elaf Bank in Bahrain and Capital Management House, the top Bahrain-based Islamic banks, said they will be voting on a three-way merger in shareholder meetings to be held by the end of June. If approved, the newly created entity will have a shareholders’ equity of almost $350 million and assets in excess of $400 million, which would give them a scale that would make them more competitive in the market. The transaction would be the first three way merger to take place in Bahrain. In addition to shareholder approval, the merger is subject to regulatory and other approvals and is expected to be completed within the second half of 2012.
HRH Crown Prince receives Spanish Minister of State for Foreign Affairs.
HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and Deputy Supreme Commander, received at Riffa Palace yesterday Spanish Minister of State for Foreign Affairs Gonzalo de Benito and discussed with him ways of boosting economic cooperation between Bahrain and Spain in light of the promising opportunities offered by both countries mainly in the commercial and industrial fields. HRH the Crown Prince underlined the importance of holding such bilateral meetings and exchanging visits between businessmen from the private sector in both countries which will play a vital role in increasing the volume of trade exchange and joint ventures. On his part, the Spanish minister lauded the steps undertaken by Bahrain to achieve further reform and wished prosperity and progress to the Kingdom.
G Capital exists from leading IT Company in Jordan.
A Dubai based private equity investor, advisor and fund manager, and a subsidiary of the Bahraini investment bank, Gulf Finance House (GFH), announced another exit by its managed fund Injazat Technology Fund (ITF). Additionally, the Board of Directors approved a distribution of the returns from the exit to the investors in ITF. Injazat Technology Fund is a $50 million fund was the first Sharia’a compliant Venture Capital Fund established in the region focused on technology, media and telecommunication, and is considered a pioneer in the industry.
IV. Social, Culture, Tourism:
RCO inaugurates first potable water well in Somalia.
The first Bahrain potable water well dug in Somalia funded by the Royal Charity Organization (RCO) has been inaugurated in cooperation with Islamic Trans-World Relief Organization. On this occasion, the RCO secretary general Dr. Mustafa Al-Sayyed submitted utmost gratitude and appreciation to HM the King who is the Honorary President of the RCO for HM's humanitarian initiatives and generous granting of support and assistance in disaster relief aid to the needy.
V. Photo of the Day:
* His Majesty King Hamad bin Isa Al Khalifa, the BDF Supreme Commander, inspected yesterday a modern US military plane which has recently joined the Royal Bahrain Air Force (RBAF).
11th June 2012 Al-Wasat.
Issued by:
Embassy of Malaysia
MANAMA,
12th June 2012