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| [Post Date 12/06/2010]EDB signs major trade accord with US state |
 MANAMA: The Economic Development Board (EDB) yesterday signed a memorandum of understanding to boost co-operation with the US state of Georgia.
EDB chief executive officer Shaikh Mohammed bin Isa Al Khalifa sealed the deal with Economic Development Ministry commissioner Ken Stewart. The agreement is part of an EDB roadshow across the US.
The deal aims to maximise the opportunities presented by the Bahrain-US Free Trade Agreement (FTA) and will see co-operation in key sectors.
These include healthcare, education, energy, life sciences, and research and Read more... |
| [Post Date 25/07/2009]Savola in $117m deal to buy Geant supermarkets |
 Saudi-based Savola Group has agreed to pay SR440 million ($117.3 million) to buy all Geant supermarkets owned by private Fawaz Alhokair Group.
Savola has signed an agreement with Alhokair to buy Geant supermarket outlets in the kingdom, it said in a statement posted on the bourse website.
'We are taking all the Geant stores in the kingdom, they are 11,' Savola's Chief Executive Sami Baroum told Reuters.
The deal will enable Savola's retail arm Azizia Panda to raise to 8 from 7 percent its share of the Saudi retail market and would increase its turnover by 13 percent, the Read more... |
| [Post Date 02/06/2009]GE Energy to create 100 jobs at new HQ |
 Power giant GE Energy has pledged to create more than 100 jobs at its new Bahrain headquarters, which was opened yesterday in Al Mussalah, near Sehla.
The facility, including offices and a technology centre, signals the company's intention to expand in Bahrain and across the region, said GE Energy Middle East and Africa chief executive officer Nabil Habayeb.
He said it would serve the company's corporate clients, offering services such as optimisation and control technology, assembly and a testing capability.
"This facility will house more Read more... |
| [Post Date 13/04/2009]Kuwait cuts key rate to catalyse economy |
 Kuwait's central bank has decided to cut its benchmark discount rate by 25 basis points to 3.5 percent effective Monday to reduce the cost of funding and catalyse the local economy, the state news agency reported.
The reduction would take the total benchmark rate cut by the world's seventh-largest oil exporter to 225 basis points since October, when the government was forced to rescue Gulf Bank after it recorded steep derivatives losses.
"The decision to cut the discount rate at the central bank of Kuwait contributes another dose to push the wheel of local economic activity Read more... |
| [Post Date 29/03/2009]Jawad signs Lagoon deal |
 Lagoon Leasing and Jawad Group have signed an agreement to lease around 3,000 sq/m space at the Lagoon commercial development on Amwaj Islands.
Lagoon Leasing chairman Saud Al Nusuf and Jawad Group chairman Faisal Jawad signed the agreement in the presence of Abu Dhabi Investment House head of sales Ahmed Habib and a representative from Cluttons, the facility manager.
"We are delighted to sign this agreement with the reputable Jawad Group, as the group is a major contributor to the Bahraini retail market. The presence of such clients is significant in further pushing Read more... |
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