Investcorp Bank, a Bahrain-based money manager, announced plans to reestablish its hedge fund and focus on its European real estate business. The news comes at the same time that its founder Nemir Kirdar said he will step down after 32 years with the company. The new management team is focusing on boosting growth and building its asset holdings. Two months ago, the firm appointed Mohammed Al-Shroogi and Rishi Kapoor as co-chief executive officers. Bloomberg reports the appointments were part Read more [...]

DUBAI: Around 25 million foreigners including Indians working in Gulf countries sent over $ 100 billion in the form of remittances to their home countries last year, according to a report published today. The $ 100 billion figure was twice as high as remittances in 2010 which is an indication of strong growth, Raghu Mandagoathur, the head of economic research at Kuwait Financial Center (Markaz), said. The amount is estimated at 6.2 per cent of the combined GDP of the six GCC states, Bahrain, Read more [...]

Manama, June 8 (BNA): Information Affairs Minister Isa bin Abdulrahman Al-Hammadi has lauded the solid deep-rooted Bahraini-Turkish relations, growing steadily in the political, economic, social and cultural fields. He also praised the two friendly countries' coordination in regional and international gatherings. The minister made the statements as he received here today the Turkish Ambassador to Bahrain Read more [...]