Construction work for ‘Investment Gateway Bahrain’ to start soon

The managing director of Manara Developments, Dr Hasan Al Bastaki, has announced that construction work for the “Investment Gateway Bahrain” is scheduled to start in the third quarter of this year and will be completed by the fourth quarter of 2016.

By Suad Hamada (Bahrain Roundup)

Published: Wed 21 May 2014, 8:27 PM

Last updated: Sat 4 Apr 2015, 5:33 AM

Bastaki said that the scope of construction includes the internal transportation network, sewage system, electrical wiring and the communication network in order to develop a modern and progressive infrastructure with potential for future improvements.

He said: “We have planned the infrastructure of the “Investment Gateway Bahrain” project to provide the owners of the plots with an integrated allay of services to suit their current and future needs thus ensuring that the arrangements are in line with our ambition to develop the area into an ultimate logistics and light industry hub.”

Batelco receives award for its support of municipality work

Batelco, one of the Kingdom’s leading philanthropic companies, has received recognition for its participation and support of initiatives carried out by the Ministry of Municipalities Affairs and Urban Planning. 
 The Municipality Awards Ceremony took place under the patronage of Prime Minister Prince Khalifa bin Salman Al Khalifa at Prince Khalifa Park in Hidd on May 13.

Batelco Group General-Manager Human Resources and Development Shaikh Ahmed Al Khalifa was presented with the Prince Khalifa bin Salman Al Khalifa Award for Municipality Work by the Minister of Municipalities Affairs and Urban Planning, Dr Jumaa bin Ahmed Al Kaabi.

Ithmaar Bank returns to profitability

Ithmaar Bank, a Bahrain-based Islamic retail bank, has announced a net profit of $2.11 million for the first quarter of 2014, an almost 50 per cent increase over the $1.43million profit reported for the same period last year.

The announcement by Ithmaar Bank Chairman Prince Amr Al Faisal follows the review and approval by the board of directors of the Bank’s consolidated financial results for the three-month period ended on March 31, 2014.

Ithmaar Bank’s financial results were announced in US dollars after shareholders agreed during the March 30, 2014 annual general meeting to change the Bank’s presentation currency from Bahraini dinars to US dollars.

Hopkins named ABC new financial chief officer

Arab Banking Corporation (ABC) has announced the appointment of Brendon Hopkins as new chief financial officer.

Hopkins will join ABC as group chief financial officer (GCFO) from June.

He will oversee Arab Banking Corporation’s global finance, strategy and taxation activities, ensuring that ABC is well positioned, both financially and strategically to achieve its transformation agenda.

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