I. Headlines:
· Mr. Posner commends steps taken by Bahrain towards a national reconciliation with all components.
· Mr. Rajab’s Muharraq case concluded.
· Strong competition is a key risk in both the GCC and South East Asia markets: Brandon Bruce.
· Alba on track to meet 2012 target.
II. Political:
Mr. Posner commends steps taken by Bahrain towards a national reconciliation with all components.
The Minister of Foreign Affairs Shaikh Khalid bin Ahmed bin Mohammed Al Khalifa received yesterday Assistant US Secretary of State for Democracy, Human Rights, and Labour Michael H. Posner. During the meeting, they reviewed the outstanding Bahraini-US ties and ways of bolstering them. Other issues of mutual concern were also discussed. Mr. Posner highly praised the steps taken by the kingdom in order to overcome the repercussions of the recent incidents. He also commended what he considered serious steps by the government to pave the way for national reconciliation that engages all social components.
Mr. Rajab’s Muharraq case concluded.
Deputy Public Prosecutor, Mr. Adnan Mattar, declared yesterday that the Public Prosecution had concluded its investigation in the complaints filed by residents of Muharraq Governorate against Mr. Nabeel Ahmad Rajab for allegedly posting on social media network defamatory statements discrediting their loyalty for the country and disrespects them. Mr. Mattar also indicated that the accused Activist, who is still in custody, was referred to the lower criminal court and court hearing on the June 19, 2012 was set for the case.
III. Economic, Trade, Business:
Strong competition is a key risk in both the GCC and South East Asia markets: Brandon Bruce.
Mr. Brandon Bruce Sta Maria, Partner, Assurance Insurance Leader for Ernst & Young Malaysia, told his audience yesterday that the Global Takaful contributions grew by 19% to $8.3billion in 2010. Of these, the GCC contributed $5.68 billion and South East Asia contributions were $2 billion. He said that while taking part at the World Takaful Conference: Asia Leaders Summit (WTC: ALS 2012). The Conference was inaugurated with a highly interactive opening session led by Brandon Bruce who stated that in 2010, growth in the GCC slowed to 16%, from a compounded annual growth rate (CAGR) of 41% in 2005-2009. Saudi Arabia remains by far the largest Takaful market, contributing $4.3billion or 51.8% of the industry at an average contribution per operator of $141million, he stated.
Alba on track to meet 2012 target.
During the second quarterly meeting held yesterday at the Ritz Carlton Hotel Bahrain, The chairman of Alba board of directors, Mr. Mahmood Hashim Al Kooheji, remarked that Aluminium Bahrain Co. (Alba) remains on-track to meet its targets for the first half amid the price fluctuations in the London Metal Exchange. He emphasized that Alba’s fundamentals will continue to be strong and will provide a catalyst for the sound performance. Moreover, during the quarterly meeting, the board of Alba ratified its approval to key changes in the management structure including the appointment of Basim Al Sharqi as chief support functions officer (CSFO) in the executive management team.
IV. Photo of the Day:
*HM King Hamad bin Isa Al Khalifa received at the BDF General Command headquarters Muharraq Club board Chairman Shaikh Ahmed bin Ali Al Khalifa and members as well as the club's football and volleyball players on the occasion of the football team's winning of the 27th GCC Clubs Championship and the volleyball team's victory in the 31st GCC Volleyball Championship, held recently in Kuwait.13th June 2012 Al-Wasat.
Issued by:
Embassy of Malaysia
MANAMA,
14th June 2012