I. Headlines:
· Bahrain’s Justice Minister meets with U.K top officials to discuss Legal & Judicial cooperation.
· 2011’s financial results showed improved revenues and a notably reduced operating loss.
· Industrial City set to boost Bahrain GDP.
II. Political:
Bahrain’s Justice Minister meets with U.K top officials to discuss Legal & Judicial cooperation.
The Minister of Justice, Islamic Affairs and Endowments, Shaikh Khalid bin Ali Al Khalifa, returned home yesterday after an official a two-day visit to the U.K during which he met his British counterpart Mr. Kenneth Clarke, British Attorney General Dominic Grieve. Plenty of matters were discussed including legal and judicial field. The British top officials have underlined keenness and vowed to boost cooperation with the Justice Ministry in Bahrain by providing the needed assistance to further develop the judicial field.
III. Economic, Trade, Business:
2011’s financial results showed improved revenues and a notably reduced operating loss.
Bahrain Mumtalakat Holding Company, the investment arm of the Kingdom of Bahrain, announced its financial results for the year ended 31st December 2011 yesterday, which showed improved revenues and a significantly reduced operating loss. Chief Executive Officer of Mumtalakat, Mr. Mahmood Al Kooheji stated that Mumtalakat delivered a robust financial performance, despite the global and regional economic volatility that was experienced in 2011. He added that Mumtalakat’s diversified portfolio of non-oil and gas assets, benefited from Mumtalakat’s commitment to drive value enhancement through transparency and strong corporate governance, while maintaining financial discipline and a prudent investment approach.
Industrial City set to boost Bahrain GDP.
Minister of Industry and Commerce Ministry, Dr Hassan Fakhro, said that the Kingdom of Bahrain’s proposed new Economic Industrial City is expected to boost the kingdom's GDP by 20 % annually and create about 240,000 jobs. The Minster confirmed to the local media that this project will open a new era of progress and development in the country and will be capable of meeting Bahrain's needs until 2040, in line with HM King Hamad's 2030 vision. The new city will cover an area of 95 sq. km on reclaimed land to accommodate industrial, commercial, residential and recreational facilities, he said. The feasibility study has been submitted to the Cabinet. It will be later referred to the infrastructure and services committee.
IV. Social, Culture, Tourism, Environment:
Bahrain awards $2m construction contract.
Ministry of Works has recently awarded a major contract worth BD771,426 ($2.04 million) for the development of Shaikh Daij Road/Palace Road junction to ensure smooth traffic flow. The project developer Atlas Transport, Contracts & Mechanical Services has started work on the project and hopes to complete it by January next year. Raed Mohamed Al Salah, the director of Road Projects & Maintenance said the project will ensure removing the roundabout and replacing it by traffic lights to improve the flow of traffic for users in the area. The Electricity & Water Authority will upgrade the water-mains in the area as part of this project.
V. Photo of the Day:
*Ministry of Works has recently awarded a major contract worth BD771,426 ($2.04 million) for the development of Shaikh Daij Road/Palace Road junction to ensure smooth traffic flow. 7th June 2012 Al-Wasat.
Issued by:
Embassy of Malaysia,
MANAMA
8th July 2012