I. Headlines:
· GIF establishes MYR 3.5 bn Sukuk Al-Wakalah MTN programme in Malaysia.
· Six terrorist plotters sentenced 15 years in prison.
· BCCI Chairman hails promoting the investment climate in Bahrain.
· “Bahrain is a vivid example of peaceful co-existence and religious freedoms.”
II. Political:
Six terrorist plotters sentenced 15 years in prison.
The High Criminal Court issued yesterday its verdict against a terror cell charged with scheming to commit terrorist acts inside the Kingdom of Bahrain and having intelligence contacts with a foreign country for the purpose of implementing such criminal acts. The court has ruled in favor of the conviction of six accused persons penalizing each one of the six plotters with a fifteen years’ imprisonment term each and has acquitted two accused conspirators. The Public Prosecution had conducted wide investigations regarding the Ministry of Inferior’s findings regarding the accusation of two persons who resided abroad and one who resided inside the Kingdom who contacted the Iranian Revolutionary Guard and the Iranian Basige in order to target strategic and sensitive installations in the Kingdom.
III. Economic, Trade, Business:
GIF establishes MYR 3.5 bn Sukuk Al-Wakalah MTN programme in Malaysia.
Gulf International Bank (GIB) has announced that it successfully established a MYR 3.5 billion Sukuk Al-Wakalah Medium-Term Note (MTN) programme in Malaysia. The Islamic MTN programme is based on the Shariah principle of Wakalah. CIMB Investment Bank Berhad and Standard Chartered Saadiq Berhad are the joint lead arrangers, while GIB Capital LLC, GIB’s investment banking arm, is the international coordinator of the Sukuk programme. Malaysia-based RAM Ratings Company has assigned an indicative rating of AA1 to GIB’s Sukuk Programme, which will be conducted through a special purpose company, Gulf Sukuk I Company B.S.C. The rating agency stated that GIB’s Sukuk ratings are underpinned by the strong financial support from its ultimate major shareholder the government of the Kingdom of Saudi Arabia, which indirectly owns 97 per cent of the Bank.
BCCI Chairman hails promoting the investment climate in Bahrain.
Bahrain Chamber of Commerce and Industry (BCCI) Chairman Dr. Essam Fakhro stressed the need to project Bahrain's favorable investment climate and promote economic and industrial opportunities in regional and international gatherings. He hailed in this regard the efforts made by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Economic Development Board Chairman, in boosting the kingdom's relations with brotherly and friendly countries, mainly at the economic and trade level, so as to inform the international business community about the wide range of opportunities offered by Bahrain. He described solidifying relations and partnership between India and Bahrain as a real and qualitative gain. He added HRH the Crown Prince's prospective visit would contribute to working out new trends of activating joint cooperation.
IAA Chief inks BD4m deal with Promoseven.
Information Affairs Authority (IAA) President Shaikh Fawaz bin Mohammed Al Khalifa signed with board Chairman of Promoseven Akram Miknas, in cooperation with Group Plus, an agreement granting broadcasting rights of commercial ads on Bahrain radio stations and television channels. The BD4million deal is reflective of IAA’s keenness to carry out initiatives aimed at increasing the authority’s financial revenues in line with the government’s aspirations and the media strategy inaugurated by IAA for the period spanning from 2011 to 2016.
IV. Social, Culture, Tourism:
“Bahrain is a vivid example of peaceful co-existence and religious freedoms.”
The Cabinet emphasized that Kingdom of Bahrain has always been and remains to be a vivid example of peaceful co-existence and religious freedoms emanating from the country's cultural background and humanitarian values. It also praised in this aspect the content of the speech delivered by HM the King's Wife and Supreme Council for Women's President HRH Princess Sabeeka bint Ebrahim Al Khalifa upon inauguration of the Oasis of Freedom Spike at the Notre-Dame Cathedral in the French Capital, Paris.
Old HSBC Building to be turned into Art Museum.
Culture Minister Shaikha Mai bint Mohammed Al-Khalifa yesterday received HSBC Bank Chief Executive Officer Patrick Gallagher and discussed with him the possibility of transforming the old HSBC premises into a museum for fine artists as part of efforts to revitalize Bab Al-Bahrain. Work is underway to revamp Bab Al-Bahrain and ensure the iconic gate recovers its original façade which dates back to 1949.
V. Photo of the Day:
*Information Affairs Authority (IAA) President Shaikh Fawaz bin Mohammed Al Khalifa, right, signing the agreement with Akram Miknas. 27th May 2012, Al-Wasat.
Issued by:
Embassy of Malaysia
MANAMA,
28th May 2012