Bahrain has picked four banks to arrange investor meetings ahead of a potential sovereign bond issue, a document from lead managers said yesterday, with proceeds likely to be used to plug an expected budget deficit for 2013.The International Monetary Fund said in May that it was forecasting a fiscal shortfall of 4.2 per cent this year, up from the 2.6pc deficit reported by the Bahraini government for 2012. In recent years, the Gulf Arab kingdom, has typically Read more [...]

Hyundai earthmoving market tops 60pc in Bahrain Manama, 1 hours, 24 minutes ago Hyundai Heavy Industries has captured more than 60 per cent market share in excavator and wheel loader segment during 2012 in Bahrain. In recognition of this, Motorcity, the sole distributor of Hyundai in Bahrain, received the “best market share” award from the South Korean company. B K Choe, Hyundai Heavy Industries president handed over the award in recognition of Motorcity’s Read more [...]

Posted by Parvez Jabri 4ISLAMABAD: Overseas Pakistanis remitted an amount of $12,762.44 million in eleven months (July 2012 - May 2013) of the current fiscal year 2012-13 (FY13), showing a growth of 5.74 percent or $693.34 million compared with $12,069.10 million received during the same period of the last fiscal year (July- May 2012).A statement of the State Bank of Pakistan said that the inflow of remittances during July-May 2013 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Read more [...]

Manama, Bahrain - Citi Bahrain and the Bahrain Association of Banks (BAB) recently organized a 'Women in Banking' roundtable that determined that there is a need to establish a forum to support and empower women working in Bahrain's banking and financial sector. Female banking executives from more than 15 institutions attended the seminar held at the Kempinski Ixir Hotel. Keynote speaker HH Shaikha Hessa bint Khalifa Al Khalifa, Chairwoman of Al Salam Bank and Read more [...]

MANAMA, Bahrain, June 10, 2013 — /PRNewswire-USNewswire/ -- Bahrain's leading exporter, MRS Fashions, announced plans to open a new $10 million factory in September to meet rising demand from American consumers. The company accounts for nearly 70 percent of Bahraini exports to the United States.The new 100,000 square-foot facility, which will feature the latest machinery from Germany and Japan, is expected to manufacture three million pieces Read more [...]

July to May of fiscal year 2012-13 Workers’ remittances rise 6 percent to $12.76 billion Staff Report KARACHI: Overseas Pakistanis remitted an amount of $12.762 billion in July to May of fiscal year 2012-13, showing a growth of 5.74 percent or $693.34 million as compared with $12.069 billion received during the same period of last fiscal year 2011-12. The inflow of remittances during July-May FY13 from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) Read more [...]