I. Headlines:
· There is a great French satisfaction to Bahrain’s newly implemented reforms.
· HRH Premier to visit sisterly state of Kuwait today.
· PineBridge to set up regional HQ in Bahrain.
· Alba ropes in BNP for $2.5bn expansion.
II. Political, Local, Government:
There is a great French satisfaction to Bahrain’s newly implemented reforms.
Minister of Foreign Affairs, Shaikh Khalid bin Ahmed Al Khalifa, stressed the importance of HM King Hamad bin Isa Al Khalifah’s visit to France and his meeting with French President Francois Hollande. He congratulated the French President on his victory in the presidential elections and described the visit as a milestone in the Bahraini-French relations, voicing the Kingdom’s keen interest to boost them in various fields. Shaikh Khalid also stated that there is a great French satisfaction and support to Bahrain’s recently implemented political reforms, especially the constitutional amendments approved by the legislative power.
HRH Premier to visit sisterly state of Kuwait today.
HRH Prime Minister Prince Khalifa bin Salman Al-Khalifa will pay a visit to sisterly state of Kuwait today. This comes as part of HRH’s annual Ramadani visit to the GCC countries leaders which reflects the strong fraternal relations and the firm desire to bolster bilateral ties among the Gulf Arab states. HRH this time is keen to meet up with the Kuwaiti Amir Shaikh Sabah Al-Ahmed Al-Jaber Al-Sabah, Crown Prince Shaikh Nawaf Al-Ahmed Al-Jaber Al-Sabah and other senior Kuwaiti officials. The annual Ramadan visit has also political, economic and social aspects, thus reflecting strong relations, common destiny and joint role on the regional, Arab and international arenas.
Bahrain Leadership congratulates Egypt on the anniversary of the July 23rd Revolution.
The Leadership of Bahrain, (HM 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), sent yesterday cables of congratulations to the Egyptian President Mohammed Morsi and Senior Egyptian officials marking the Anniversary of the July 23rd Revolution. HM the King wished President Morsi good health and happiness and the brotherly Egyptian people further progress and prosperity. He also lauded the steadily-growing solid fraternal Bahraini-Egyptian relations. Prince Khalifa bin Salman Al Khalifa sent a similar cable to President Morsi and another to his Egyptian counterpart Dr. Kamel Al-Janzuri.
III. Economic, Trade, Business, Tourism:
PineBridge to set up regional HQ in Bahrain.
PineBridge Investments, the global multi-asset class investment manager, announced yesterday that it has selected Bahrain as the location for its Middle East and North Africa (MENA) headquarters. PineBridge is an independent asset manager with over $67bn of assets under management for institutional and individual clients across an extensive platform of listed equity, fixed income, and private equity and hedge fund strategies. PineBridge has hubs in New York City and Hong Kong, and offices in over 20 countries. PineBridge has received a Category 1 license from the Central Bank of Bahrain (CBB) and is currently in the process of establishing its regional headquarters in Manama. PineBridge currently has offices in Dubai and Istanbul.
Alba ropes in BNP for $2.5bn expansion.
Aluminium Bahrain (Alba) announced yesterday its hiring of BNP Paribas to advise on financing options for a proposed $2.5 billion expansion plan to add a sixth production line. Alba stated that the new line, which will add 400,000 tones annual capacity to its current production of 881,000 tones a year, could be completed by early the 2015. Alba stated that a project feasibility study is expected to start at the end of the year, adding it choose BNP for its’ strong presence in Bahrain along with extensive experience with the aluminium sector. Mahmood Hashim Al Kooheji chairman of Alba’s board of directors at the signing ceremony held in Paris said that Alba's last major expansion took place in 2005 when it added a fifth potline at a cost of $1.7 billion.
Royal Caribbean and Costa Cruise Lines plan Bahrain comeback.
The Kingdom’s Ministry of Tourism stated yesterday that leading international cruise liners, Royal Caribbean and Costa Cruise Lines, are considering reopening routes to Bahrain. Tourism marketing and promotion acting director of the Ministry of Tourism, Mr. Mohammed Al Subaie said that the cruise lines are considering retuning to the island based on the progress and stabilization made in the previous months. The cruise lines postponed service to Bahrain last year due to unrest, but with a conscious government effort towards reconciliation, tourism has steadily increased. Mr. Al Subaie hailed the government efforts to spur tourism especially its decision of reducing port fees.
IV. Social, Culture, Education, Environment:
Education Minister receives Jordanian Cultural Attaché.
Minister of Eductaion, Dr. Majid bin Ali Al Nuaimi, received yesterday the outgoing Cultural Attaché in the Jordanian Embassy in Bahrain Mr. Amine Al-Shdaifat. During the meeting, Dr. Al Nuaimi lauded the efforts exerted by the Jordanian Cultural Attaché. He also reviewed with him Bahraini-Jordanian cooperation in the field of education.
V. Photo of the Day:
* HM King Hamad bin Isa Al-Khalifa being greeted by French President Francois Hollande upon arrival at the Elysée Palace. 23rd July 2012 Al-Wasat.
Issued by:
Embassy of Malaysia,
MANAMA
24th July 2012