Local Press 2019 English

The year 2019 was different in many respects, mainly because it was the 40th anniversary of GPIC, a historical event in every sense of the word.

Four decades have passed since this company was established and, over the years, it has proven the feasibility and the importance of Gulf cooperation. The path has never been a bed of roses and not all the accomplishments have been easy. Everything that we did required a lot of effort, hard work and sacrifice. The success was not easy and fraught with many challenges. However, these motivated everyone to show their excellence, their professionalism and their determination to achieve the set goals. They worked hard to perform tasks, while fulfilling responsibilities they were assigned with merit and competence.

It was due to these efforts that the company succeeded in making unprecedented achievements in the history of industrial companies and was able to overcome challenges witnessed by global markets at all levels.

The correct approach of the Board of Directors, the exemplary commitment of the executive management and the commitment of its partners, not to mention the blessings of the Almighty and the support of the leadership have all been elements that have contributed to GPIC’s success and put the company at the forefront in the region and beyond.

There is no doubt GPIC has thrived in emerging as an icon of success in all fields related to not only the nature of its industrial work, but also in the service of the local community, while concentrating on all aspects of health, safety and care for the environment.

The company was awarded the Mohammed bin Rashid Al Maktoum Business Award for 2019 in recognition of its initiatives and programmes to support the economy. GPIC also won the Best Performance Award for 2019 and the Mohammed Bin Rashid Al Maktoum Business Innovation Award for 2019. This was in addition to winning two global awards in the field of occupational safety and health from the Royal Society for the Prevention of Accidents for its global excellence in adhering to occupational safety and health standards and playing a leading role in the field. GPIC was also chosen among the distinguished facilities for the year in the field of occupational and work environment safety and several distinguished employees were honoured.

The company won the Procurement Risk Management Award in recognition of its plan in managing procurement risks and its use of advanced solutions in providing services efficiently, quickly and accurately. It was honoured with the 2019 Industry Stewardship Champion Gold Medal by the International Fertilizers Association and with the Dubai Chamber of Commerce and Industry Award for its excellence in the implementation of innovative programmes in community service and sustainability.

The Arab Network for Social Responsibility also awarded GPIC with the Social Responsibility Award for institutions for its activities at the level of community work.

GPIC is very proud of the honour it received as the founder of the Responsible Care Committee of the Gulf Petrochemicals and Chemicals Association (GPCA) as well as achieving the International Diploma in Occupational Health and Safety from NEBOSH.

We are honoured also to be chosen as the international Ambassador for the Royal Society for Prevention of Accidents. All these achievements came because of joint efforts that saw everyone contribute.

We cannot fail to pay tribute to the efforts of representatives of the print and the audiovisual media who highlighted the company’s every achievement and made every effort for the success of this great industrial edifice.

Dr. Abdulrahman Jawahery President

01 January 2019

GPIC exceeds export targets

MANAMA: The Gulf Petrochemical Industries Company (GPIC) has exceeded its export targets for 2018.

The company said that it exported 1.13 million tonnes of ammonia, urea and methanol, an increase of one per cent, which is more than what had been planned for last year.

This was revealed in a statement issued after a board meeting under the chairmanship of Dr Ahmed Al Sharyan.

The board reviewed plans to develop national cadres, who have proved their professionalism in taking the company to new horizons of success and excellence.

Dr Al Sharyan said in spite of the challenges, the board of directors is proud of the company’s achievements in the field of safety.

In terms of occupational safety, the chairman said the GPIC had achieved about 8,353 workdays without a lost time accident, which was equivalent to more than 30 million hours.

He said the largest-ever periodic maintenance in terms of the total number of employees and contractors and the number of businesses was carried out during the year, which was a great achievement.

The board members stressed that they would take advantage of all the

economic and developmental opportunities offered by the petrochemical industry to promote development and make the best use of all the Gulf region’s primary resources and enjoy a large industrial base for the basic values of the vital industry.

GPIC president Dr Abdulrahman Jawahery revealed that the company had succeeded in recording new export figures. He said a total of 49,325 tonnes of ammonia, 409,671 tonnes of methanol and 667,721 tonnes of

GPIC board of directors with the management team

urea fertiliser were sold. In addition, 786 tonnes of urea was allocated to the local market to support Bahrain’s agricultural sector. China and Brazil accounted for the largest share of the company’s total exports with each claiming 18pc, followed by India taking 16pc and Taiwan 14pc.

Dr Jawahery also spoke about the several national and international awards the company had won, including the King Hamad Award to empower young people to achieve the goals

of sustainable development, the Gold Medal for Excellence in Health, Safety and Environmental Conservation awarded by the International Fertiliser Association.

In addition, Dr Jawahery himself received the 2018 chief executive award in the field of safety given by the National Safety Council of the US.

The company also received a certificate for its methanol from Halal Certification Services (HCS) after conducting a rigorous examination

and analysis. It won the safety award from the British Royal Society for the Prevention of Accidents for the 14th consecutive year and the Arab Award for Social Responsibility for the category of major enterprises in the Arab World by the Arab Network for Corporate Social Responsibility. It was also awarded the Responsible Care Award for 2018 (Health, Safety and Occupational Safety) for its programme from the Gulf Petrochemicals and Chemicals Association.

Financial reporting for start-ups in spotlight

MANAMA: Bookkeeping and as well as the impact of VAT were tackled in a workshop organised by Grant Thornton Abdulaal in collaboration with Bahrain FinTech Bay.

The session was led by Ali Abbas Salman, director of owner managed businesses and outsourcing, and Nirav Rajput, manager for tax advisory.

Mr Salman stressed on key areas of success for start-ups in terms of financial planning beginning from robust budgeting processing, disciplined bookkeeping practice, transparent financial reporting, thorough financial analysis and

Saudi GDP growth speeds up

DUBAI: Saudi Arabia’s economy grew in the third quarter at its fastest rate since early 2016, boosted by expansion of the oil sector while non-oil growth stayed sluggish, statistics agency data showed yesterday.

Gross domestic product grew 2.5 per cent from a year earlier. That was an acceleration from the second quarter, when GDP rose 1.6pc, and the fastest since the first quarter of 2016, when the same rate was registered.

Yesterday’s data suggested the recovery from that slump was still tentative. GDP growth picked up largely because of higher oil output. The oil sector expanded 3.7pc from a year ago in the third quarter, after 1.3pc in the second. Growth in the non-oil sector, key for job creation and Saudi Arabia’s effort to diversify its economy, slowed to 2.1pc from 2.4pc. Saudi officials have predicted a gradual acceleration of

by 7pc from last year’s actual level. Investment spending and bonuses for state employees in the budget could revive the private sector. But senior officials have refused to rule out further austerity steps next year, including a planned hike in fees for hiring foreign workers and a possible increase in domestic fuel prices. Such steps have weighed heavily on private sector firms.

Meanwhile, global producers

monitoring and ending on the importance of responsive decision-making.

Further, he added that, “With the new laws introduced and the challenges presented by the current business environment we operate in, maintaining proper and updated books of accounts is key to any entity’s survival.

Mr Salman

“We at Grant Thornton Abdulaal have observed startups and business entities collapse due to weak financial management and, on the other hand, we are also proud to stress

on the fact that we have been able to help entrepreneurs look into their financial challenges and find means to overcome them,” said Mr Salman.

Mr Rajput explained the concept of VAT in the GCC and presented certain examples of how VAT could impact the start-ups.

He further said, “Article 101 from the Resolution No 12 for the year 2018 stresses that VAT registered entities need to be maintaining books of accounts. Although we consider that all business entities need to main-

tain accurate books of accounts to be able to gauge the financial performance and take necessary measures to ensure success and growth, it is now a matter of legal compliance that entities which submit periodical VAT returns will not be able to avoid.”

Grant Thornton Abdulaal’s senior partner Jatin Karia said, “We are proud of collaborating with Bahrain FinTech Bay and contributing towards guiding entrepreneurs and start-ups towards successful financial planning. We are operating in a volatile and dynamic business environment where the survival will be for the entities ready for tomorrow.”

01 January 2019

GPIC export growth beats 2018 estimates

China’s Xi to open markets, continue reforms

AFP | Beijing, China

China will continue market reforms and open its doors to the world in the face of a challenging geopolitical landscape, President Xi Jinping pledged yesterday in a New Year speech.

Xi said that in 2018 -- 40 years since the transformation led by Deng Xiaoping -- the country had enacted “systematic, holistic and reconstructive reforms of the party and state institutions”.

TDT | Manama

The Gulf Petrochemical Industries Company (GPIC) said its exports grew at a faster pace with the company exporting more than planned Ammonia, Urea and methanol during the year 2018.

According to company President Dr Abdulrahman Jawahery, GPIC exported a total of 1.13 million tons of ammonia, urea and methanol in 2018, which was 1 per cent higher than what had been planned.

A total of 49,325 metric tons of ammonia, 409,671 metric tons of methanol and 667,721 metric tons of urea fertilizer were sold, all of which was shipped to its final destination on board 59 vessels. In addition, 786 metric tons of urea packed in bags was allocated to the local market to support Bahrain’s agricultural sector.

China and Brazil accounted for the largest share of the company’s total exports by 18 per cent, followed by India with 16pc and Taiwan 14pc.

The figures were revealed during a meeting of GPIC Board

of Directors held under the chairmanship of Dr Ahmed Al Sharyan.

Commenting, Dr Al Sharyan said that in spite of the challenges, the Board of Directors is proud of the company’s achievements in the field of safety.

He expressed pleasure at the results in the field of occupa-

tional safety and said, “GPIC had achieved about 8,353 workdays without a lost time accident, which was equivalent to more than 30 million hours.”

The board members stressed that they would take advantage of all the economic and developmental opportunities offered by the petrochemical industry to promote development.

“The pace of our reform will not stagnate, and the open door will only grow bigger and bigger,” he said in a speech broadcast by the state-run CCTV

China recently marked the anniversary of the momentous policy shift agreed at a Communist Party gathering on December 18, 1978 under late paramount leader Deng, who is considered the architect of the country’s opening up to the world.

Xi said yesterday that China had welcomed many “new and old friends” to the country, hosting several international forums this year.

“My colleagues and I visited five continents... had extensive exchanges with leaders of various countries, consolidated friendship, enhanced trust, and expanded our circle of friends,”

China’s President Xi welcome ceremony at

he said. Touching tics, Xi said the unprecedented situation the toughest conditions century.

“No matter how tional situation na’s confidence nation to safeguard sovereignty and not change,” he said.

“China’s sincerity will to maintain and promote common ment will not change.”

China has been bruising trade United States and a slowing domestic Washington and imposed tit-for-tat

GPIC officials during the board meeting

Financial Mall getting honoured alongside more than 100 outstanding and hard-working Bahraini workers and private establishments. The event was recently organised by the Ministry of Labor and Social Development at the Crowne Plaza Hotel in Manama under the patronage of His Majesty King Hamad bin Isa Al Khalifa and in the presence of the Labour and Social Development Minister Jameel Humaidan. Moosa Jaffar was bestowed with the honour as one of the outstanding employees working within the private sector.

Al Baraka Banking Group employees during a training course held by the Group’s training academy. The bank during the year 2018 organised several training courses for its employees at its banking units in various fields that include banking services and Islamic investment models. The number of courses organised by the Academy during the year 2018 reached thirty training courses covered 358 participants from the Group and its units.

Stocks slide at start of 2019, yen hits multi-month highs

lower, where investors were spooked also by the ongoing US government shutdown, which is now in its second week. The Dow fell 1.6pc in the first minute of trading, while the broader S&P 500 index was 1.2pc lower and the tech-heavy Nasdaq Composite slumped 1.9pc. Elsewhere, both main oil contracts retreated Wednesday to leave them wallowing around levels last touched in mid-2017, hit by lingering concerns about high supplies and weak demand.

London, United Kingdom

trading day of 2019,

tumbling 2.8 per cent, while Shanghai shed more than one percent after two indicators showed Chinese manufacturing activity shrank in December. The readings were both around lows not seen since 2017 and are the latest to highlight problems in the world’s number two economy. Asia’s losses fed through into Europe, with the Paris CAC 40 stocks index the region’s largest faller with a drop of 1.4pc in afternoon trading. Wall Street opened sharply

The euro slid to 123.89 yen, the lowest level since June 2017. The dollar hit a seven-month low at 108.71 yen. With a number of potential banana skins dotting the next 12 months -including the ChinaUS trade row and Brexit -markets are volatile across the board. Stock markets yesterday extended a slump that saw global indices suffer their worst year in 2018 since the global financial crisis a decade ago. Hong Kong’s main stocks index led the losses on the first

S tock markets slumped yesterday as data reinforced worries about a stuttering Chinese economy, helping haven investments including the yen to rally.

“As traders digested another round of disappointing figures from China, risk-off tones dominated,” noted Jasper Lawler, head of research at London Capital Group. “Stock markets... fell, while known havens the yen and gold climbed.”

GPIC announces launch of ‘Environment Programme’

in cooperation with the Department of Student Services at the Ministry of Education. It has since then continued uninterrupted. Trained engineers visit the public and private schools from various levels and offer environmental lectures in both Arabic and English. Over the course of the programme, lectures were given at 332 schools, where 24,000 students benefitted.

said the Company Management has been careful to monitor a specific budget each year to provide the necessary funding for scientific research. The programme, according to GPIC has funded 302 types of research so far out of the 1100 research topics that have been introduced since the start. The programme was launched in the academic year 2004/2005

TDT | Manama

The induction meeting held at the company’s club

Students and supervisors who represented 20 secondary schools from Bahrain’s Private and Public schools were selected to participate in this year’s competition, the company said in a statement. GPIC President Dr Abdulrahman Jawahery said this was the first programme of its kind that provides support and sponsorship for scientific research in the field of the environment. He

he Environment Committee of the Gulf Petrochemical Industries Company ( GPIC ) has announced the launch of 15th GPIC Environment Programme for Environmental Research for the academic year 2018/2019. This was revealed during the closing of the programme of the induction meeting held at the Company’s club.

T

TDT | Manama

Ithmaar Development Company ( IDC ), the Development Manager for Dilmunia at Bahrain announced awarding the early works package for the Dilmunia Grand Canal & Marina to NSCC International, an Abu Dhabi based contractor.

The deal was signed in the presence of Mohammed Khalil Alsayed, CEO of IDC and Khalil N. Khouri, CEO of NSCC International along with representatives from IDC and NSCC International.

The contract for the early works package valued at US$4.5 million, commenced in mid-December 2018 and is targeted for completion in mid-March 2019.

in Dilmunia consist of soil improvement, soil levelling and contiguous pile works.

13 January 2019

The Grand Canal will cut through the entire stretch of Dilmunia in a semi-circular route, making it Bahrain’s largest man-made water body. It will feature public promenades, geysers, water fountains, water walls, cascades, boardwalks and viewing decks.

world’s global leadership-experts believe world is experiencing ship crisis the Global

Jean-Claude Bejjani, the Project Director of Dilmunia stated that the awarded works

With a total length of 1.7 km, and a width spanning 15 to 35 meters throughout the Grand Canal, it will have seawater pumped in around the midpoint of the Canal with the water flowing via gravity in two opposing directions of the entire canal.

Dilmunia completed its Second Phase Infrastructure Works

in December 2017, and awarded the Third and Final Phase of Infrastructure Works in early 2018, and with it ensuring the availability of all services to developers constructing on the Island and its first residents.

The USD 1.6 billion Dilmunia Project is a mixed-use development built on a man-made island off the coast of Muharraq with a unique health and wellness anchor including residences, a hotel and leisure and shopping districts anchored around a health and wellness cluster. The development of the ambitious 125-hectare man-made island is being managed by IDC, which is a wholly-owned subsidiary of Ithmaar Bank. Ithmaar Bank is also the Investment Manager of Dilmunia Development Fund.

performance by undoubtedly drops inconsistently their own pocket.

Palpable integrity, from the organisation’s health of the Organizations key intangible products delivered requires investment.

Leaders with Having strong would in public, contact with a Such leaders tivation necessary exploring their what they do. trospectively behaviour. Such leader is intrinsically their employees’ Such leaders mentor or executive-coach; experience, skills these advisors to improving not wide-ranging overall performance improving interactions tively for the A leader who with sudden changes which will undoubtedly For employees who creates a are much more release their creativity An approach the enterprise consistency; where first, where there theft and unethical to a moral code

(Mike Orlov rain-based boutique is also a Fellow ment. Email:

Above, officials following the deal signing. The deal was signed in the presence of Mohammed Khalil Alsayed, CEO of IDC and Khalil N. Khouri, CEO of NSCC International along with representatives from IDC and NSCC International.

The USD 1.6 billion Dilmunia Project is a mixed-use development built on a man-made island off the coast of Muharraq

A delegation from Dar Al Muharraq Parents’ Care Home visiting Gulf Petrochemical Industries Company (GPIC). Company Corporate Communications Manager Zuhair Tawfiqi and several members of its youth committee welcomed the delegation and passed the greetings of GPIC’s President, Dr Abdulrahman Jawahery. The visitors were given a brief on GPIC’s business philosophy and operational strategy. They also learned about its management methodology, production and export capabilities as well as achievements in safety, quality, environmental conservation and community contributions.

13 January 2019

Six on trial for ‘vicious’ attack

TWO British women were viciously assaulted outside a Juffair hotel, a court heard.

They were allegedly attacked by two Bahraini men and four Thai women, after one of the British victims was racially abused. The victims claim they were kicked and punched on the ground, while one says she was also punched in the face by a male assailant. Both received treatment at Salmaniya Medi-

confront her.

By NOOR ZAHRA

“Four Thai women pushed me to the ground and I saw several Bahrainis come to their aid.

“They then attacked my friend, who was in the car with me.

“They kicked and punched us on the ground.

“I was screaming and was in pain when one of the Bahrainis punched me in the jaw.

admitted during questioning that he punched one of the victims in the face because she kicked his friend’s vehicle.

“I did not want to do anything to harm her,” the 34-year-old Bahraini told prosecutors.

“However, she would not remain quiet and continued to insult my friend and me for no reason outside a hotel in Juffair.

“She then asked for her glasses and I told her I did not know where they were.

GORDON BOYLE

Gathering steam...

2019is going to year as many of gather steam. One of the biggest to wealth disparity and of the super-rich getting all of the rest of us getting

Some of the numbers at show that in the last America close to 90 ulation have seen a income whilst those their earnings rise by

As a result, today Warren Buffet, Bill Gates have a combined wealth poorest 160 million For many today they having their earning jobs are coming under technology. This affects repetitive and administrative artificial intelligence ing in more workers on the human scrapheap.

Once on the human way is down. Thousands been left living in cars lessness reaches a record 170,000 individuals riencing destitution rough sleepers have according to research

The majority are sofa-surfing hostels, but 12,300 are the streets and nearly in vehicles or tents.

Let’s not forget the in the world.

There are according them today. Back in collectively had wealth trillion and 15 years lionaires had grown over $7trn. We now global population holding total global wealth.

At the end of the Second entered a new phase

A delegation from Dar Al Muharraq Parents’ Care Home visited Gulf Petrochemical Industries Company (GPIC), Sitra. Corporate communications manager Zuhair Taw qi and several members of the youth committee welcomed the elderly and briefed them on the business philosophy and operational strategy. The visitors also learnt of the company’s management methodology, production and export capabilities as well as its achievements in safety, quality, environmental conservation and community contributions. They then toured the company’s complex and stopped at the environmental projects that re ect GPIC’s commitment to a balance between industry and the environment. Above, Mr Taw qi, second from left, and GPIC youth committee members touring the site with the visitors.

not listed above please call Telephone: 17228888.

Rs41,250.00

January 22 (Close) $61.50 $52.57

Hospital launches bWallet payments

MANAMA: bWallet, a digital mobile payment and peer-to-peer money transfer solution, has signed a partnership agreement to enable cashless payments at Al Hilal Hospital branches.

Patrons of Al Hilal Hospital’s branches across Bahrain will be able to pay for services and purchases using bWallet, providing a convenient alternative to cash.

Customers need to simply scan a QR code through their mobile phones for secure cashless payments to merchants.

bWallet is Bahrain’s first digital wallet to provide peer-to-peer money transfer and

23 January 2019

was launched last year by fintech enabler Arab Financial Services (AFS) in partnership with Batelco. AFS chief executive B Chandrasekhar said: “We are delighted to welcome Al Hilal Hospital to the growing bWallet. At AFS, our goal is to make the process of paying bills entirely stress-free, convenient, frictionless, secure, engaging and transparent – we believe customers will appreciate this in their dealings with Al Hilal Hospital, avoiding the need to withdraw cash in emergency situations.” Batelco general manager for enterprise

Abderrahmane Mounir said, “The availability of bWallet will boost the range of convenient services and enhance the relationship between Al Hilal Hospital and its clientele.”

Al Hilal Hospital Group chief executive Dr Sharath Chandran said the association with bWallet is aimed at ensuring that customers have quick and easy transactions across its centres in Muharraq, Manama, Riffa and Salmabad.

“We will also be launching specific offers for bWallet customers regularly and look forward to serving more residents in the kingdom.”

Top awards for Banagas and GPIC of cials

MANAMA: The British Royal Society for the Prevention of Accidents (RoSPA) has selected Bahrain National Gas Company (Banagas) chief executive Dr Shaikh Mohammed bin Khalifa Al Khalifa and Gulf Petrochemical Industries Company (GPIC) president Dr Abdulrahman Jawahery as re-

cipients of its global award, in recognition of their companies’ petrochemicals.

RoSPA chief executive Errol Taylor spoke of the success of Dr Shaikh Mohammed and Dr Jawahery and their commitment to the highest standards of safety, health and environmen-

tal protection. He said these principles are among the most important, noting the success of Banagas and GPIC in winning prestigious RoSPA awards, including the Sir George Earl Trophy.

Mr Taylor said the society has now decided to invite the two to become award ambas-

sadors.

Dr Shaikh Mohammed and Dr Jawahery were honoured by RoSPA vice-president Lord Jordan of Bournville during a ceremony at Dubai’s Ritz Carlton Hotel, organised in conjunction with the National Occupational Safety and Health Examination Board.

Al Hilal and AFS officials at the signing

Dr Shaikh Mohammed and Dr Jawahery with other officials

check for fuel leaks

Stockholm, Sweden

24 January 2019

Cars, owned by the Chinese group Geely, has recalled 219,000 diesel-engine cars to fix potential fuel leaks in the engine compartment, a spokesman said yesterday. “Volvo preventatively recalls the cars to avert any possible future problems,” the spokesman told AFP . “There are no reports alleging injuries or damages related to this issue.” The action concerns 11 models, including the upscale XC 60 and XC 90, that were sold in 2015 and 2016, he added.

olvo

Barcelona, Spain U

Vber yesterday threatened to pull back from Barcelona after the regional government unveiled new regulations which will severely restrict ride-hailing services, as taxis upped the pressure with a restive strike. The US giant, which has seen conflicts in other European countries as taxis complain of threats to their livelihoods, said that if the rules are approved as planned next week, “We will not be able to continue providing our UberX service in Barcelona”. That is the cheapest Uber ride and commonly-used in Spain where UberOne, a more expensive premium service, also operates. The news comes as taxis strike in Madrid and Barcelona against tourism vehicles with chauffeur or VTC s such as Uber or Cabify. Representative picture

Electricity and Water Affairs Minister Dr Abdulhussain Mirza receiving Nathalie Martin from economic organisation Global Insight. Martin is currently in Bahrain to prepare a special economic report on the kingdom in cooperation with The Japan Times. The minister reviewed the details of the next issue of the foundation’s report and presented a comprehensive explanation of the achievements and projects in the electricity, water and sustainable energy sectors as well as the most important plans in the next five years.

GPIC and BANAGAS chiefs receive top ROSPA recognition

ROSPA Vice President Lord Jordan of Bournville invited Dr Sheikh Mohammed and Dr Jawahery to attend a ceremony at Dubai’s Ritz Carlton Hotel, where a reception was organised in conjunction with the National Occupational Safety and Health Examination Board ( NEBOSH ). Dr Sheikh Mohammed and Dr Jawahery said that they were delighted at the recognition, which is a tribute not only to their companies but also to the Bahraini industry. They said ROSPA selecting them as Ambassadors was an honour and a source of pride and are determined to move forward with plans to raise performance in the field of safety, health, environment and accident prevention.

terprises in terms of their industrial and commercial activities but are also exemplary in their approach to safety, the environment and community service.’ He said ROSPA has now decided to invite the two to become their Award Ambassadors.

The award ceremony

tigious Ro SPA awards, including the Sir George Earl Trophy. “Since joining ROSPA 25 years ago, I have been aware of the inspirational leadership of BANAGAS and GPIC ,” said Taylor. “These are not just two of the world’s leading industrial en -

TDT | Manama B ahrain National Gas Company ( BANAGAS ) Chief Executive Dr Sheikh Mohammed bin Khalifa Al Khalifa and Gulf Petrochemical Industries Company ( GPIC ) President Dr Abdulrahman Jawahery were elected to receive Global Award by the British Royal Society for the Prevention of Accidents ( ROSPA ) in recognition of their companies’ success in the fields of gas and petrochemicals.

ROSPA Chief Executive Officer Errol Taylor spoke of the success of Dr Sheikh Mohammed and Dr Jawahery and their commitment to the highest standards of safety, health and environmental protection. He said these principles are among the most important, noting the success of BANAGAS and GPIC deserve pres -

saViNG oUR heRiTaGe

By Ghazi alshehaBi

original occupants across Manama, including the Old Suq, Al Fadhel neighbourhood, Ras Ruman and Naim.

The project, Manama Calls, also includes plans

25 January 2019

to nominate the city for a Unesco World Heritage

Site status. Details of the project were revealed yesterday during a Press conference hosted by the Bahrain Authority for Culture and Antiquities at Bahrain National Museum.

Full report – Page 3

n Top DJ

MANAMA: One of world’s top DJs will performing in Bahrain for the first time during the Formula One Air Bahrain Grand at Bahrain International Circuit on March Kyrre Gørvell-Dahll, better known by his name Kygo, is a Norwegian DJ, record producer songwriter. He garnered international his remix of the track Sheeran, which received million plays on SoundCloud views on YouTube. His single Firestone on YouTube with on the music streaming of August 2017. Kygo has accumulated views on his music YouTube. “Global megastar joining our concert Gulf Air #BahrainGP International Circuit

Jusprin

to knock off four zeros values

bank had to remove one time, it has recommended be deleted.

government agree to the million rials will equal Governments often resort to from their currency when purchasing power instead of denomination banknotes.

n Adam Kadia, a 12-year-old Bahrain student, last night launched a book about the UN’s Sustainable Development Goals in the hope of ensuring a better future. The launch event was organised by the International Peace Institute Middle East and North Africa at its office in the Bahrain Financial Harbour. The ceremony was attended by 70 students from nine schools, IPI Mena director Nejib Friji, International Fertiliser Association chairman and GPIC president Dr Abdulrahman Jawahery and other officials.

Full report – Page 9

MANAMA: A common been pulled off the following concerns GCC regulatory standards. inspection initiated Regulatory Authority the presence of Jusprin medication, in the chief executive Dr the GDN yesterday withdrawn from the similar move by UAE dismissed rumours tablet was still being health centres. Full report

WOMAN SMUGGLED DRUGS UNDER ABAYA – PAGE 7 l FUNDS SOS BY SHELTER

25 January 2019

Promoting SDGs in a novel way...

book

In his essay “De Senectute”, Cicero there are four reasons why people off old age: It stops you from it makes your body weak, it denies pleasure and every day is one death.

He then dismantles each argument. old retain their wits quite well,” “so long as they exercise them.” in the West today has a better chance of living beyond 105 and populations create immense challenges. Governments must ensure pensions, health and social care can be funded increasing numbers of elderly, tio of working-age people to the rich countries is projected to halve from four to one to two to one.

Yet increasing longevity is too as a curse that will create huge of senior citizens suffering from or disease.

It is time to view it also as something opens opportunities for individuals, and the worlds of business, education culture.

It is set to change how citizens potentially exciting ways if we it, individually and collectively.

Japan is already providing a the world’s highest life expectancy more than 67,000, the highest tenarians per capita; they had is the only large country to have adopted the idea of century-long national project.

It was galvanised in part by The 100-Year Life, by two London School academics. Lynda Gratton drew Scott noted that, while longevity create more infirm citizens, many healthy much longer happy to into their 70s or 80s.

That will need big changes in of work but should also be plugged public financing models. Lives, thors suggested, will no longer the three stages of education, retirement.

Children born today may delay into jobs and have an “explorer” 18 to 30, then change tack several what could be 50 year-plus careers. They will need further education retraining at different stages. Japan has endorsed that vision all-embracing policy. Prime Minister Abe’s cabinet office assembled academics, and business and union into a Council for Designing the Life Society.

A 12-yeAr-old Bahrain student last night launched a book about the United Nations’ Sustainable development Goals (SdGs) in the hope of ensuring a better future.

The launch event for Adam Kadia’s third book, 17 SDGs, was organised by the International Peace Institute (IPI) Middle east and North Africa (Mena) at its office in the Bahrain Financial Harbour.

The ceremony was attended by 70 students from nine different schools, IPI Mena director Nejib Friji, International Fertiliser Association chairman and GPIC president dr Abdulrahman Jawahery and other officials.

The launch was part of IPI Mena’s “Future leaders Series” Programme, which gives students the opportunity to ask questions about the SdGs and engage in open discussions about the various goals and requirements of each one.

This is Adam’s third book, his first being Hakeem the Adventurer which tells the story of a boy from libya who travels the world making new friends along the way, and Upid Hack which is about a scientist who goes to another universe.

Ever since his first book Adam has been hailed as the youngest known writer in the region devoted to spreading a message of peace, and has gone on to win awards in Bahrain and the UAe such as the Mohammed Bin rashid Al Maktoum

By Ghazi alshehaBi

Award for World Peace.

“I wrote this book to promote the 17 SdGs and I plan to promote it in every school in Bahrain, and across the Arab world, and not just the Arab world, all around the world for children my age, maybe younger maybe older,” Adam told the GDN.

“I think the only way to promote this to young children is through a book with pictures because it lures them in and they read about the SdGs even if it’s disguised as a story, when they read it they will learn what SdGs are and I think that is the best way to get that message across.

“It took me about eight months to write this. I started in May last year, there are 17 chapters one for each goal, for every chapter I had to come up with a scenario to match the goal.

“Some of them were harder than others but I personally really enjoyed writing the education one. I mentioned how education needs to be promoted around the world and that’s something I really believe in,” he said.

This would not be the first time Adam was a guest at the IPI Mena offices as a similar session was held when he published his first book, which was also launched by the IPI as the messages in his books align with their missions and objectives.

“Three years ago Adam started his writing journey with us, that book told a story about a traveller who went to libya, went to countries in the Mediterranean and ended in Bahrain,” said Mr Friji.

“That to us was the first illustration from the young man who showed the world is a small village, there are no borders that met one of our objectives as IPI which is to support and advocate sustainable development and peace.

“regional integration is a must in this part of the world, and through the eyes and the keyboard of this young man we can put a small story that will generate momentum amongst schools, amongst leaders of schools, amongst the Supreme Council for Women, among corporations like GPIC, and everyone here,” he said.

“Seeing the debate generated amongst children here is a way to tell the UN and the member countries that we are implementing their advice and recommendations at the grassroots levels and the young age of the children, boys and girls in Bahrain and we are taking this think tank and turning it into a do-tank,” he said.

With the help of IPI Mena and the corporate partners they will translate the book into Arabic and French and send it to schools all over Bahrain and the Mena region.

ghazi@gdn.com.bh

Its recommendations included creases in care workers’ pay, and panding “recurrent” education, higher employment among the Business has taken up the challenge. Nursery school operators have into care homes.

Entrepreneurs are opening ior citizens. Robotics makers are devices to help the elderly work Baby-boomer retirees already different lives from their parents.

They are demanding everything homes, cars and technology tailored their needs, to cosmetics, dating even adventure holidays.

Companies and governments where should be studying the approach.

Preparing for century-plus living require complex, co-ordinated businesses and public institutions. to do so will have a high price.

Time to wake up.

Gordon is the former president executive of BMMI. He can gordonboyle@hotmail.com

n Mr Friji and Dr Jawahery with Adam and other students at the event

n BDF Commander-in-Chief Marshal Shaikh Khalifa bin Ahmed Al Khalifa yesterday attended one of the phases of Hamad 3 joint military exercise implemented by BDF and Egyptian Armed Forces at the Royal Bahrain Naval Force. He was welcomed by Chief of Staff Lt Gen Dhiyab bin Saqr Al Nuaimi, Egyptian Naval Detachment Commander Major General Yasser Ezzat Al Asi, and senior BDF and Egyptian officers. Marshal Shaikh Khalifa pointed out the significance of the drill and its effective role in boosting combat proficiency and operational and tactical capabilities.

l 12-year-old student launches new

Global Day of Education marked

TDT Manama

Harpreet Kaur

The role of education sector as one of the key developmental areas was emphasised as many organisations across the Kingdom marked the Global Day of Education.

The International Peace Institute, Middle East and North Africa (IPI MENA) held a special event, where a book on 17 Sustainable Development Goals (SDGs) written by a 12-year-old boy was released.

The author Adam Jade Kadia, fellow students, friends and youth leaders were present on the occasion.

Releasing the book, IPI MENA Director Nejib Friji strongly reaffirmed the key role of education in IPI’s strategy to promote the Culture and Education for Peace.

“Students, children, and youth are the custodians of peace and culture and it is a fundamental need to nurture them and build on their existing knowledge and practices.

“I call upon educators, nurtures and parents to support children and youth to further building a peace culture from within communities and homes, and educational institutional efforts.”

12-year-old Adam Jade Kadia’s book on SDGs released at a special event

“I urge the educational institutions to streamline the Culture of Peace throughout different curricula, from primary and secondary, to postgraduate endeavours.”

A speech delivered by the 12-year-old author added special charm to the event. “We are the generation of the future and if we do nothing, the world will not change. These Sustainable Development Goals are like a roadmap, we can use these goals to get to the place we want to be, as they apply to all members of the international community.”

Dr Abdulrahman Jawahery, President of the Gulf Petrochemicals Industries Company (GPIC) highlighted the key role private and public sector can play by providing a rich and positive environment to unlock the untapped potential of youth.

Supreme Council for Women

Representative Shaikha Dina bint

Students, children, and youth are the custodians of peace and culture and it is a fundamental need to nurture them and build on their existing knowledge and practices.

a difference in our communities and societies,” she stated.

Following the launch, a debate took place where all the children, representing nine different schools, interacted actively, mainly on their roles to advocate and implement the SDGs.

MR FRIJI

Dr Fatima Al Kooheji, Chairperson of the Shura Council’s Women and Child Affairs Committee, underlined the importance of national legislation in providing opportunities to encourage the youth and the responsibility governments have in supporting future generations through education.

Rashid Al Khalifa, Director General for Policies and Development, stressed the ability of children to think outside the box and how that can build on the efforts and contributions of past generations in addressing the interconnected complexities of the SDGs.

“The main question we will all walk away from is what we can do, how can every one of us in our own lives work towards implementing the SDGs and how can we inspire others, how can we make

Moreover, the United Nations Information Centre for the Gulf Countries (UNIC Manama) and The Lions Club of Riffa co-organised the Lions Club Annual WalkIn Essay and Painting Competition for children to instil peace values among the children.

Many students took part in the painting competition held as part of the event.

Adam Jade Kadia’s book being released at the event.

Fund joined in Company benefits power and water agreement entered operations startand the plant

nancial crisis. Similarly, the new financing has also won an award as the “2018 Refinancing Deal of the Year”. This is an award that Al Dur shares with its sister company Al Ezzel Power Company, which also undertook a

strates the strong support of Bahrain, Saudi and regional and international banks for a strategic asset of the Bahrain economy and for its lead sponsors ENGIE and Gulf Investment Corporation.”

structure of the WhatsApp, Instagram and Facebook Messenger services and incorporate end-to-end encryption into these apps, the New York Times reported on Friday.

28 January 2019

The Minister of Industry, Commerce and Tourism Zayed R. Alzayani receiving US Ambassador to Bahrain Justin Siberell in the presence of Undersecretary of Commerce Affairs Nader Al Moayyed and Assistant Undersecretary of Foreign Trade Eman Aldoseri. During the meeting, they reviewed bilateral relations between Bahrain and the United States of America, expressing Kingdom’s welcome on all steps undertaken by both governments. The Minister stressed the great role played by the private sector in both countries to take advantage of FTA and expand bilateral cooperation in all fields

celebrations

children’s wear catwalk.

to be a part patriotic LuLu Group Rupawala, range of Indian and also a from India favourite, our customfrom othenjoyed this all things

along with Labour Union Chairman and Senior Officials presenting a certificate and an award to Tawfeeq Salman from the Information Technology and Knowledge Department, who has been named the Employee of the Month for September 2018. Tawfeeq joined the Company in 1994 and is a Senior Support Administrator in the Information Technology and Knowledge Department

GPIC President Dr

Abdulrahman Jawahery

support pledge for export-focused firms

MANAMA: Bahrain’s government is committed to supporting export-focused Bahraini companies, Industry, Commerce and Tourism Minister Zayed Alzayani has said.

Speaking at the inauguration of Legend Paints’ new manufacturing facility in the Bahrain International Investment Park (BIIP) yesterday, the minister said the government has built a robust manufacturing and logistics sector with world class infrastructure and supportive reforms and policies in place to ensure their competitiveness in domestic, regional and global markets.

31 January 2019

“We are seeing an increasing number of Bahraini companies, like Legend Paints, grow and flourish and we look forward to supporting Legend Paints in the future,” he added. Also present were the company chairman Abdulhusain Dawani and officials.

“We are going to build on our success to date and this milestone event will allow Legend Paints to increase our production and expand our reach into international markets,” said Mr Dawani.

“We are committed to ensuring the high-

est quality products are leaving this facility and to providing quality jobs into the future.”

Legend Paints was established by Dawani Group Holding, based in Sitra, in 2005 and in 2015, construction began on the new manufacturing facility in BIIP.

Employing 23 when running at full capacity, the 4,400 sqm facility will produce 7.5 million litres of paint and export across the GCC and the wider Middle East and North Africa region.

Nebosh role to spread culture of safety praised

MANAMA: Oil Minister and Noga chairman Shaikh Mohammed bin Khalifa Al Khalifa congratulated Banagas chief executive Dr Shaikh Mohammed bin Khalifa Al Khalifa and GPIC president Dr Abdulrahman Jawahery on becoming award ambassadors for British Royal Society for the Prevention of Accidents.

The two top executives along with British National Examination Board in Occupational Safety and Health (Nebosh) chief executive Ian Taylor called on the minister to apprise him of their efforts to

n Shaikh Mohammed with Dr Jawahery and other officials spread a culture of safety worldwide.

Shaikh Mohammed praised the great role played by Nebosh and its vision to preserve and improve health, safety and

the environment in workplaces worldwide.

“Of particular significance is Nebosh’s desire to extend the competence of those working in high hazard industries and prevent the recurrence of accidents. Noga attaches great importance in strengthening its relationships with various institutions, agencies and international organisations in enhancing the culture of safety for its companies by applying the standards, principles and rules of occupational safety and health, to create a safe working environment, free from accidents and injuries,” he added.

n

The minister also noted the outstanding efforts of the oil industry companies in the kingdom in complying with global safety standards, which have resulted in them being recognised with many international awards in occupational safety and health.

Future plans of the main body representing Bahrain’s businesswomen were revealed last night. Bahrain Business Women’s Society president Ahlam Janahi announced this at a Press conference held at the society’s office in Mahooz. The event coincided with the society’s 19th anniversary where members of the media were honoured. Founder of Social Media Club Bahrain Ali Sabkar who was recently elected as the club’s global chairman was also honoured at the event. Above, Ms Janahi, right, giving the memento to Mr Sabkar.

03 February 2019

Gulf Petrochemical Industries Company (GPIC) President Dr Abdulrahman Jawahery with a number of Executive Management, Deputy Labour Union Chairman and staff members who have been promoted to Supervisory positions. Dr Jawahery congratulated the employees and urged them to keep abreast with the latest Western and Central Africa through Financial Inclusion” held under the patronage of HRH Prince Talal Bin Abdul Aziz, the President of AGFUND. Ebdaa Bank for Microfinance officials headed by the chairman of the board of directors Mona Almoayyed and CEO of Ebdaa Bank Dr Khaled Al Ghazzawi, participated in the forum that was attended by African Microfinance network, development specialists, development partners, media, AGFUND Prize Committee, and the prize winners. The forum hosted a symposium followed by the annual award ceremony of AGFUND’s International Prize for Pioneering Human Development

ASBB opens Express Banking Business Center

“substantially raise the a partial victory,” said at Cornell and China the 90-day truce -leav-analysts say it is not agreement with modest reaching objectives, and depractices, including the alknow-how, including hacking, and massive would only sign a “real Washington could bump

laid out in its “Made the plan aims to make emerging technologies alternative-energy vehicles. demands would amount to lessening the role of the state analysts say is unthinkable. of industries that are use all the resources of companies excel and become of Commerce in China

Trump’s demands are not demands, such as greater press rights, “his list of structural action,” Wu Qian, a lecturer University, told AFP . strike a bargain, or at evidence of any serious policy analyst at the Relations. Robert Lighthizer faces described the expected ever made.”

17 markets -one of the announced he and his Chinese the near future” to bury contention in person.

“considerably” higher expechistoric achievement, summit expected by likewise created a perilous his express ambitions, political base and “there reaction,” Alden said.

of its 2018 Libshara Campaign

Kuwait Finance House –Bahrain (KFH-Bahrain) has named Ali Haroon AlA’amer as the winner of the final luxury apartment in Marassi Al Bahrain, located in Diyar Al Muharraq, marking the last draw of the Bank’s 2017-2018 Libshara campaign.

The draw was held at the Bank’s headquarters at the Bahrain World Trade Centre under the supervision of the Ministry of Industry, Commerce and Tourism, and in the presence of several officials from the Bank.

“On behalf of KFH -Bahrain, I would like to congrat-

04

February 2019

The award ceremony

ulate the winner of the recent draw for the 2018 Savings Account,” said Sabah Abdul

May armed Brexit

London, United

British Theresa day she with a fresh ideas” when an Union negotiators Brexit deal. EU officials the deal is gotiation. But May day Telegraph be “battling Northern Ireland” forts to get ment’s unpopular provision.

“If we stand speak with we can find ward,” she said.

The backstop ensure there hard border Brexit supporters keep Britain customs rules.

MPs voted May back to tiate the clause, deal would after it was parliament “I am now route that can in the House leaving the wrote.

“When I I will be battling and Northern armed with new ideas and mination to solution”.

The EU insists “remains the way to ensure drawal,” but running down 29 exit date deal Brexit for the bloc are focus. May said Jeremy Corbyn the potential

Minister of Interior, Gen Shaikh Rashid bin Abdullah Al Khalifa, visiting the pavilion of the Gulf Petrochemical Industries Company (GPIC) during the 13th Professional Development Conference, organized by the American Society of Safety Professionals. The Minister was received by GPIC President Dr Abdulrahman Jawahery and members of the Company’s Executive Management. More than 600 delegates attended the conference and its accompanying exhibition. The event included more than 30 specialized sessions and 15 workshops.

Latif Al Zayani, Deputy Head of Retail Banking Group at KFH-Bahrain.”

Interior Minister General Shaikh Rashid bin Abdulla Al Khalifa visited the Gulf Petrochemical Industries Company (GPIC) pavilion at the 13th Professional Development Conference, organised by the American Society of Safety Professionals. He was received by GPIC president Dr Abdulrahman Jawahery and members of the executive management. He praised the company’s achievements and contributions. More than 600 delegates took part in the conference and its accompanying exhibition. Above, Gen Shaikh Rashid receiving a memento from Dr Jawahery at the GPIC pavilion.

Ambassador An Chef Lau from

meeting investment opportunities in

deal

Paris, France

with France

Apple said yesterday it had reached an agreement with French authorities to settle 10 years of back taxes, becoming the latest US company to reach a deal with France which has led a European push for higher taxes on tech giants.

French news weekly L’Express reported that Apple had paid nearly 500 million euros ($570 million) to resolve the case in a confidential settlement reached in December.

Apple declined to disclose the amount paid, but a source familiar with the case confirmed the figure.

“The French tax administra-

tion recently concluded a multi-year audit on the company’s French accounts and an adjustment will be published in our public accounts,” Apple said in a statement.

or Luxembourg.

In 2016, it was ordered by the European Commission to pay 13 billion euros in back taxes to Ireland.

Bahrain Chamber Commerce and InBCCI) is holding an themed “Investment Opportunities in Turkey”

Thursday at 10 am in Al of Bait Al Tijjar.  event will include presentations highlightinvestment and opportunities in chamber extended invitation to all its memattend the event and about business and partnership opportunities

06 February 2019

“We know the important role taxes play in society and we pay our taxes in all the countries where we operate, in complete conformity with laws and practices in force at the local level,” added the company.

French authorities declined to comment further, citing the confidentiality of tax matters.

Apple is one of several American technology giants in the line of fire in Europe over their tax strategies, which see them route their income through low-tax nations such as Ireland

The European Commission said Apple paid an effective corporate tax rate of just 0.005 per cent on its European profits in 2014 -- equivalent to just 50 euros for every million.

The deal in France comes as the government prepares to push ahead with its own unilateral “GAFA tax” -- named after Google, Apple, Facebook and Amazon -- faced with the failure of EU members to agree on how to get technology companies to pay more tax on their European operations.

of Leadership and Learning - the e-Learning Center

fund outperforms GCC peers in 2018

of the year. The spread, which measures an issuer’s credit risk, rose to 216 basis points from an average of 157 over the same time period.

The Fund’s positive performance amid emerging market headwinds — including four interest rate hikes, inverted yield curves, and increased political pressure throughout the GCC — underscores the strength of SICO’s forward-looking strategy

Management Fixed Income at SICO attributes the positive performance of the Fund in 2018 to its short duration and high-yield strategy.

Commenting on SICO ’s fixed-income strategy for 2019 Marshad said, “We plan to maintain our existing strategies with minor deviations to take advantage of this year’s inclusion in the JP Morgan EMBI Index. Overall, we are a bit more

this year.”

Marshad also noted that the team will continue to monitor yields on Oman after their recent downgrade along with the real estate sector in the GCC.

“Oman is attracting interest after having overtaken Bahrain as the highest-yielding GCC sovereign, but the situation is likely to get worse before it gets better. Short-term bonds, however, seem safe and the announce -

AlMabarrah AlKhalifia Foundation Chairperson Sheikha Zain bint Khalid bin Abdullah Al Khalifa planting a sapling to commemorate her visit to GPIC and as a contribution to support the GPIC’s environmental orientation. Gulf Petrochemical Industries Company (GPIC) President Dr Abdulrahman Jawahery accompanied Sheikha Zain and the delegation on a field tour, where she was introduced to the training programmes and activities offered by the Academy

Mr Al Arrayedh tours the manufacturing facility Commerce Zayed offiministry, the Economic

Development Board led by executive director of manufacturing, transport and logistics business development Husain Rajab, also in attendance.

A statement from the minister said the government was committed to creating an environment that can attract and support leading companies in

the world. “We will continue to collaborate with leading companies to anchor high value-added manufacturing, adopt advanced

incentives and cost efficiencies of doing business here, and as we pursue another key strategy of shaping a digital economy, modernising manufacturing with a solid technology infrastructure is top of mind for many companies.”

Bahrain’s manufacturing

generated net sales of $687m in 2017.

It has 3,000 employees 27 production plants in countries.

Armacell claims its products contribute significantly global energy efficiency. avinash@gdn.com.bh

Fintech talent programme launched

MANAMA: Bahrain FinTech Bay (BFB) and Tamkeen have launched a Fintech Talent Programme focused on the training and development of Bahrainis.

07 February 2019

The inaugural Fintech Talent Programme (FTP) has been developed in partnership with global experts in finance and technology, including Georgetown University’s McDonough School of Business and international blockchain and artificial intelligence academies.

like big families will be happy to hear we have a parent company.”

to start flights

yesterday announced it

The FTP addresses the future skill requirements of Bahrain’s financial services industry as well as that of fintech start-ups.

It positions the country as a centre of excellence for fin-

Mr Saad, centre, talks about the programme tech talent and prepares Bahraini graduates for careers in innovation and strategy.

The programme would initially take 50 participants in two batches.

Key role of fertilisers industry highlighted

MANAMA: The fertilisers committee of the Gulf Petrochemicals and Chemicals Association (GPCA) held its meeting under the chairmanship of GPIC president Dr Abdulrahman Jawahery in Muscat, Oman .

The meeting highlighted the achievements of the committee in 2018 and outlined its strategic plans for 2019. Members spoke of the action and arrangements made for the annual fertil-

iser conference to be held in September.

Dr Jawahery pointed to the importance of building an industrial economy that is more innovative and sustainable. He said it is the direction in which industries tend to preserve resources and energies and make them environmentally friendly.

He stressed on the importance of the co-operation of all countries to achieve the ultimate goal of ensuring food secu-

rity as one of the most important challenges the world faces.

“Despite the availability of natural and human resources and the interest of political leaders, agriculture in the region and the Arab world has not yet achieved its targeted production, and has not met increasing needs of food.

Dr Jawahery said that GPCA is one of the largest entities supporting the fertiliser industry in the region.

BFB chief executive Saad said: “The FTP which hope to significantly grow the next few years, will fresh graduates with the sary skills required to for the future and take advantage of the opportunities arising fintech.”

Tamkeen chief executive Ebrahim Janahi said: “This tegic programme that will create a local and well-quali fied workforce that can meet demands of the financial es industry, lead innovation, preserve Bahrain’s leadership position in finance and fintech.”

Economic Development Board chief executive Al Rumaihi said: “Developing local talent equipped with skills that drive growth innovation-driven economy vital to creating an ecosystem from which fintech companies can thrive.

The FTP invites Bahraini didates to apply at www.fin tech-institute.com/fintech-tal ent-program.

Selected candidates will part in a career fair with 30 potential employers one roof.

Successful candidates begin a six-month internship and receive mentorship assigned partner of BFB.

Whilst completing internships, candidates enrolled in the Georgetown FinTech Course.

The course is a three-month online, interactive programme, comprising of seven modules and four case studies designed by industry thought leaders.

Prof Jim Angel, a co-holder of 12 fintech patents, will the course and deliver key room sessions in Bahrain.

Top performing candidates will also have the opportunity gain international experience fintech through internship ments in Singapore and

Dr Jawahery, front row, third from left, with other officials

09 February 2019

group attended an Abigail Franklin, Ikwhan teacher sponsor Meg methods of teaching, what of Defence Education came second in the teacher in Germany.

Gulf Petrochemical Industries Company (GPIC) has made a cash donation to the Royal Charity Organisation (RCO) in support of its ‘Al Fares’ (Knight) project. The initiative aims to provide insulin pumps for 130 orphaned children with Type I diabetes, and speci cally targets orphans aged 14 and under. The GDN has reported that enough money had been raised to buy 10 pumps, while one person donated eight pumps. People can donate to the cause via the website www.rco.gov.bh or directly through a bank account at Bahrain Islamic Bank (BH15BIBB00100000157497).

from right, presents the donation to RCO secretary

airport showcase entrepreneurs

Above, GPIC president Dr Abdulrahman Jawahery, second

general Dr Mustafa Al Sayed, second from left, in the presence of other of cials.

10 February 2019

Health Minister Faeqa Al Saleh visited the Gulf Petrochemical Industries Company (GPIC), accompanied by World Health Organisation experts. The delegation was received by GPIC president Dr Abdulrahman Jawahery who said the visit would strengthen the close relationship with the ministry, especially since GPIC was committed to health promotion issues in general and environmental health in particular. The delegation toured the plant and the minister planted a tree to mark her visit. Above, Ms Al Saleh, seventh from left, being presented with a memento by Dr Jawahery in the presence of of cials and guests.

National Bank of Kuwait-Bahrain (NBK Bahrain), the branch of NBK Group in Bahrain, announced yesterday a 26 per cent jump in its 2018 net profits to US$313 million ( BD 118.096m) from US$248m (BD93.488m) in 2017.

As of the end of 2018, NBK-Bahrain’s total assets increased by 9pc y-o-y to US$16.740 billion, compared with US$15.350bn in 2017. While total shareholders’ equity increased 14pc y-o-y to US $1.813bn. Customer deposits reached US$8.612bn, up by US$584m or 7pc y-o-y.

Isam Al-Sager, NBK Group Chief Executive Officer said, “The Bank’s strong results affirm the success of NBK Group’s regional expansion strategy that is built on a culture of prudence and strict risk management practices.”

Al-Sager pointed out that the strength of NBK-Bahrain’s profits stems primarily from being operational.

Al-Sager added: “The strong growth achieved by NBK-Bahrain is a testament to the success of its vision aimed at affirming its position in the Bahraini market, which is one of the main growth markets for NBK Group, given its promising growth opportunities and positive prospects”.

10 February 2019

We continue to grow our operations locally by developing new products to serve our customers benefiting from the support of NBK Group

ALI FARDAN

GENERAL MANAGER

“Our diversification extends to the product and service offering, growth in existing geographies, our approach to new business opportunities, and our commitment to a digital transformation that will position the

NBK-Bahrain’s solid performance affirms the success of the Group’s regional expansion strategy

ISAM AL-SAGER

GROUP CHIEF EXECUTIVE OFFICER

Bank for future growth,” Al-Sager added

Ali Fardan, NBK-Bahrain General Manager, said “This strong performance reflects our conservative management as we have consistently focused on

I

cross-cultural of unnecessary complexity. smarter and harder harder to be respectful, helping us achieve

When working differences in how tion challenges. means where you you. In many cultures, of respect until they have to earn respect Dictionary definitions recognise how we we are expressing something elicited qualities or their for the feelings and ‘Respect’ to say we due regard for their Taking time to to ensure our communication well-received. As wrong; we set out of respect but either the way and mangle

our core business and ways to diversify sources of income. We continue to grow our operations locally by developing new products to serve our customers benefiting from the support of NBK Group.”

Minister of Health Faeqa bint Saeed Al Saleh planting a tree at Gulf Petrochemical Industries Company (GPIC) to support the Company’s environmental orientation during her visit to the company accompanied by experts from the World Health Organisation (WHO). The delegation was received by Company President Dr Abdulrahman Jawahery who accompanied the Minister and her delegation on a tour of the plant and briefed them on the training programmes offered

Capital Club Bahrain to launch Fintech Series platform

TDT | Manama

Capital Club Bahrain announced launching a Fintech series mid-February in partnership with Andra Public relations & Corporate Communications.

The series will start mid-February to showcase Fintech corporates and startups in Bahrain, and MENA and will be hosting corporates and startups from Bahrain’s Fintech space, and MENA

The aim of this initiative goes towards supporting the fintech ecosystem growth in Bahrain,

and provide an engaging platform for Fintech industry leaders to share their stories, and address the most pressing issues,

trends in the FinTech sector. Sumeet Jhingan, General Manager Capital Club Bahrain stated: “As financial institutions

and banks are embracing the fintech revolution we are keen to be part of this initiative to encourage more fintech ventures and global financial institutions to come to Bahrain.”

Fatema Ebrahim, Founder of Andra PR commented on the partnership, “These series will be intimate and engaging sessions to showcase innovation within the Fintech ecosystem, and we will document these series making them available to everyone. The goal is to encourage innovation, openness and collaboration in the Fintech space.”

We do not react what we think about filters such as gender, sues and our own experiences based to you could mean For example, perhaps you work very hard is a variable term. when seen through on this in a particular you might have to This is not about to communicate of respect in a reflective

To that end how will change and gratulatory with they need. This allows change as necessary.

Taking note of this we can tell whether want. Again, it is the response is a

If you feel that terpreted you can having, and ask. This is not about the same, but you understand you. towards and working be they higher up or customers.

(Mike Orlov is rain-based boutique is also a Fellow of ment. Email: info@steppingstoneglobal.com)

UK pulls contract

London, United Kingdom

Weeks of public ing and indignation minated Saturday British government a ferry contract it to a firm with no

The island nation’s with the European an odd turn in December it handed the unheralded borne Freight company £13.8-million ($17.9 15.6-million-euro)

It was meant to

NBK

NBK-BAHRAIN

Fatema Ebrahim Sumeet Jhingan

participated in the activities volunteers engaged Mission (DCM) Aimee learn about health to share Bahrain

14 February 2019

The Gulf Petrochemical Industries Company (GPIC) organised a walk to mark the Bahrain Sports Day on Tuesday. It was part of the initiative launched by His Royal Highness Prince Khalifa bin Salman Al Khalifa, the Prime Minister, and under the directives of Shaikh Nasser bin Hamad Al Khalifa, representative of His Majesty for Charity Work and Youth Affairs. All of the company’s employees took part in the event. GPIC president Dr Abdulrahman Jawahery praised the initiative.

sports Day success hailed

Gulf Stables Endurance Race set

FOLLOWING the directives of the Representative of His Majesty for Charity Works and Youth Affairs, chairman of Supreme Council for Youth and Sports, president of Bahrain Olympic Committee and honourary president of Bahrain Royal Equestrian and Endurance Federation (Breef) Shaikh Nasser bin Hamad Al Khalifa, the federation announced yesterday that it would organise the First

Tand effective response if the United States imposes import duties on European autos, a spokesman for the European Commission said yesterday.

Brussels issued the threat after the US Commerce Department filed a report that empowers President Donald Trump to apply car duties within the next 90 days.

German Chancellor Angela Merkel has labelled as “frightening” the prospect that this report could label European car imports as a national security threat to the United States, enabling the tariffs.

The White House has already used the national security argument, saying that undermining the American

manufacturing base impairs military readiness, among other claims, to impose steep tariffs on steel and aluminium imports.

further details.

19 February 2019

“Were this report translated into action detrimental to European exports, the European Commission would react in a swift and adequate manner,” EU spokesman Margaritis Schinas told a news briefing in Brussels.

The protectionist Trump has threatened 25 percent duties on European autos, especially targeting Germany, which he says has harmed the American car industry.

European officials have said that Brussels has drawn up a list of 20 billion euros ($22.6 billion) of potential countermeasures, without providing

In 2017 just under half of the 17 million cars sold in the US were imported, most of them produced in Canada and Mexico which are expected to be exempt from any new automobile duties.

German automobile groups last year exported 470,000 cars from Germany to the United States, according to the VDA manufacturers’ federation.

The transatlantic flareup followed a truce established in July, in which Trump and European Commission President Jean-Claude Juncker pledged no new tariffs while both sides pursued a limited trade deal.

said.

Germany is pushing hard for the trade deal with the US, but according to a European source, France is reluctant to pursue talks fearing they may stoke popular anger ahead of European elections in May.

EU trade ministers will discuss the talks, as well as the possible countermeasures against the US, at talks in Bucharest on Thursday.

Aside from economic matters, US-European ties have already been upended over Trump’s approach towards Iran and Syria, as well as other issues.

its

nearby Bracknell.

Other carmakers Nissan and Ford warned that jobs could

UAE signs deals with

Abu Dhabi, United Emirates

TheUnited Arab ates announced day it had signed more than $1.6 billion purchase of Patriot launchers from US Raytheon, state media

The deals, inked ond day of an international military exhibition Dhabi, come a day UAE announced it $353 million worth missiles from Raytheon.

Some $3.2 billion have been signed the oil-rich state and companies at the

US sanctions delay MC-21

Moscow, Russia

Production of plane, which Russia could revive its civil industry, has been a year due to US sanctions, head of the Rostec ate said yesterday.

“Due to the fact Americans have stopped plying composite we are switching to Sergey Chemezov told news agencies in Abu

“The date of the of mass production shifting” and is now by the end of 2020, Sanctions came last September against sian companies involved

Al Baraka Islamic Bank names alBarakat monthly

TDT | Manama

Al Baraka Islamic Bank (AIB – Bahrain) has announced Ahmed Yusuf Abulfateh as the winner of BD 10,000 Grand Prize for the alBarakat raffle draw for February 2019.

Eman Mohamed Alsabaie was also named as the winner of One Year Salary of BD 555 Per Month, along with 80 other winners who received cash prizes as well.

The raffle draw was held at the Al Baraka Islamic Bank headquarters in Bahrain.

Al Baraka declared the names of the 80 prize winners of the alBarakat Raffle Draw, 20 of whom won BD 500 each, while 60 of them were awarded cash prizes

of BD 300 each.

Speaking on the occasion, Tariq Kazim, the Acting Chief Executive Officer of Al Baraka Islamic Bank - Bahrain, said: “On behalf of Al Baraka Islamic Bank, I would like to extend my heartiest congratulations to the winners of alBarakat Account Raffle Draw for the month of February 2019, especially Ahmed Yusuf Abulfateh and Eman Mohamed Alsabaie for their incredible wins of BD 10,000, and a Monthly Salary of BD 555 for a whole year, respectively.

“In our 5th year, the cash prizes have just gotten bigger and better, in line with our philosophy of giving back plentifully to our customers for their wellplaced trust in us, by justifying

their investments, both through our annual returns and through these monthly rewards.” Also, in a distinct illustration

of the bountiful nature that is characteristic of the highly rewarding alBarakat Account, one truly fortunate customer will

walk away with the Grand of BD 300,000 at the end year.

The complete list

Ahmed Yusuf Abulfateh winner of BD 10,000

Eman Mohamed Alsabaie winner

Gulf Petrochemical Industries Company (GPIC) officials and employees during an awareness workshop organized by GPIC Health Committee on developing focus and stress management skills. The lecture was presented by Art of Living Bahrain representative Prem Sagar, who highlighted the importance of developing skills that increase concentration and eliminate tension. It also spoke of the effective impact of these skills in helping the individual to cope with problems of work, increase his ability to focus as well as explain how to practice meditation and relaxation sessions and breathing exercises.

Employees inspect Mercedes-Benz C-Class cars at the Mercedes-Benz US International factory in Vance, Alabama.

Trump

Merkel

24 February 2019

Gulf Petrochemical Industries Company (GPIC) took part in a conference of the Arab Fertiliser Association in Cairo. More than 133 companies and organisations, as well as representatives from the largest representative bodies of the sector from 33 countries attended. GPIC president Dr Abdulrahman Jawahery spoke about large participation in the activities of the threeday forum and the accompanying exhibition, which saw some of the largest Arab and international companies specialised in the fertiliser industry. “The Arab fertiliser industry is today considered one of the most important strategic industries and a key pillar in the countries’ economies,” Dr Jawahery said.

BhB joins major UN initiative

MANAMA: Bahrain Bourse (BHB) has joined the United Nations Sustainable Stock Exchanges (SSE) initiative to demonstrate its voluntary commitment to promote sustainable and transparent capital markets in co-operation with listed companies and other related stakeholders.

Chief executive Shaikh Khalifa bin Ebrahim Al Khalifa said: “We are pleased to join the SSE initiative. Our commitment as an exchange to UN SSE standards demonstrates an enhanced level of sustainability practices across listed companies on BHB which we hope will reflect positively on the investment environment in Bahrain.

“Bahrain Bourse is fully

tor Anthony Miller said, “We welcome Bahrain Bourse’s commitment to promote good ESG practices in their market and we look forward to assisting them in their ongoing sustainability journey.” Bahrain Bourse joins 83 other exchanges globally who have voluntarily expressed their commitment to promote the advancement of sustainability in capital markets activities. The SSE initiative focuses on sustainable disclosure of environmental, social and governance (ESG) factors which can impact a company’s ability to execute its business strategy and create value.

A large and growing propor-

Food carnival comes to LuLu Hypermarket

24 March 2019

Food Carnival featuring world cuisine was inaugurated at LuLu Hypermarket in the Atrium Mall, Sar by Shaikh Khalifa Bin Duaij Al Khalifa, President of HRH the Crown Prince’s Court. The Carnival will run until April 6 and features an interactive exploration of different cuisines, cookery contests and the visit of famous TV celebrity Lakshmi Nair, whose travel-cum-cookery show is very popular. During her visit, Dr Lakshmi will judge a cookery contest for the traditional Indian ‘payasam’ dessert. There is also a pasta cooking contest and a children’s cookery contest. The event will also feature promotions on foodstuff as well as a variety of cookery demos

Deep Foundation

Masterclass

Manama

otal foundation solution ( TFS ) is bringing first ever Masterclass to Bahrain on 24 March 2019 the Intercontinental from – 8PM is a free to attend event with speakers enlightening attendees on Soil improvement and Soil Investigation techniques. Total foundation solution FZCO is based out of Dubai specialising in the supply Piling, Foundation, Soil Investigation and Soil Improvement equipment.

Iraq PM asks MPs to fire governor over deadly ferry capsize

Baghdad, Iraq

raqi Prime Minister Adel Abdel Mahdi made a forrequest to parliament yesterday to fire the governor of Niniveh province where 100 people were killed in a ferry capsize.

Most of those killed in Thursday’s sinking on the Tigris River were women children headed out Iraq’s second city Mosul a Mother’s Day picnic the Kurds’ Nowruz New Year holiday.

GPIC exceeds production targets

• Sets new per day production record

• New record of 8,311 working days without a lost time accident

• Exported 49,325 metric tons of Ammonia, 408,076 metric tons of Methanol and 667,721 metric tons of Urea

• China and Brazil top export partners

TDT | Manama

Gulf Petrochemical Industries Company (GPIC) exceeded all its production targets for 2018, announced Chairman, Dr Ahmed Ali Al Sharyan.

The company, Dr Al Sharyan said, achieved new records by the end of 2018 which includes an increase of 20,000 metric tons over the original target in Urea production. New record production of 2,078 metric tons of Urea per day was also achieved.

The total production during the summer (July - August) for Urea was 120,456 metric tons.

“The combined efforts of all

had resulted in reduced spending and increased production, despite the global challenges

that the petrochemical industry had witnessed in the last one year,” said Dr Al Sharyan

speaking during GPIC ’s 5th Extraordinary General Meeting (EGM) and its 40th Annual General Meeting (AGM) under the Chairmanship of the Minister of Oil, Sheikh Mohammed bin Khalifa bin Ahmed Al Khalifa.

Petrochemical Industries Company (PIC) of Kuwait was represented by the Company’s Finance Manager Khalid Al Kandari whereas the Saudi Basic Industries Corporation (SABIC) was represented by its VP-Global Finance Reporting & Controllership Khalid Ali Al-Garni.

GPIC President Dr Abdulrahman Jawahery said the company had achieved a new record of 8,311 working days without a lost time accident, which translates to over 30.2 million hours since May 2002.

GPIC exported a total of 49,325 metric tons of Ammonia, 408,076 metric tons of Methanol and 667,721 metric tons of Urea,

all of which were exported to their final destination on board 59 vessels. In addition, 798 metric tons of bagged Urea and 1,629 metric tons of Methanol were allocated to the local market, in support of Bahrain’s agricultural and industrial sector.

China and Brazil

China and Brazil accounted for the largest share of the Company’s total exports at 18 per cent each, followed by India with 16pc and Taiwan with 14pc.

The Company exported a total of 1.13 million tons of Ammonia, Urea and Methanol, 1pc higher than the original target for 2018.

Dr Jawahery said that the carbon dioxide recovery unit continued to help reduce emissions and maintain environmental safety according to Bahrain government standards set up in coordination with the Supreme Council for the Environment.

Visual discovery startup Pinterest files for IPO

Francisco, United States interest, the online visual discovery firm with an estimated 250 million users, filed a public share offering Frithe latest of the big venture-backed startups to hit Wall Street. The San Francisco-based onbulletin board that connects people with interests including food, fashion, travel and lifestyle it would trade under the symbol PINS on the New York Stock Exchange.

KNOW WHAT

for their lives,” said the company said in its filing with the Securities and Exchange Commission which is expected to seek a valuation of some $12 billion.

30

“Pinterest is where more than 250 million people around world go to get inspiration

The research firm eMarketer expects Pinterest’s global ad revenues to hit $1 billion this year, making up just 0.3 percent of the total digital ad spending

“They come to discover ideas for just about anything you can imagine: daily activities like cooking dinner or deciding what to wear, major commitments like remodeling a house or training for a marathon, ongoing passions like fly fishing or fashion and milestone events like planning a wedding or a dream vacation.”

Documents for the initial

public offering showed Pinterest lost $63 million in 2018 on revenue of $755.9 million. That compared with a loss of $130.0 million on $473 million in 2017 revenue. Launched in 2010, Pinterest brings in money from its role in online shopping and from advertising.

It becomes the latest of the richly valued tech startups worth more than $1 billion, sometimes called “unicorns,” to hit Wall Street. Ride-hailing giant Lyft is expected to begin trading next week and rival Uber is likely to announce terms of its IPO soon.

GPIC officials during its 5th Extraordinary General Meeting (EGM) and 40th Annual General Meeting (AGM)

13 April 2019

SDG success stressed

Norwegian delegation visits House of Representatives, Shura Council

Bahrain attends GCC health conference

Kuwait City

Manama

Following a meeting with His Royal Highness

Prince Khalifa bin Salman Al Khalifa, Prime Minister who briefed them on the success of Bahrain in the field of sustainable development and the prevailing features of tolerance and co-existence among all its people and its pioneering steps in the field of democratic development, the former Prime Minister of the Kingdom of Norway, Kjell Magne Bondevik, President of the Oslo Centre for Peace and Human Rights, and Aamir Javed Sheikh, head of the Dialogue for Peace and President of August 14 Committee of Norway visited yesterday the Shura Council and the Council of Representatives.

They were received by Speaker Fawzia Zainal and Shura Council Chairman, Ali Al Saleh. They were briefed by on the mechanisms of the two councils and their committees, the democratic process in the Kingdom, as well as the role both chambers  play in the development of the Kingdom.

Mr Bondevik hailed the development, progress and development of the Kingdom of Bahrain in various fields, especially the democratic development. He praised Bahrain for strengthening its position and positive role regionally and internationally, appreciating the outstanding initiatives of the Kingdom on the international level and its support to the efforts aimed to spread peace and achieve the goals of sustainable development.

Speaker of the Council of Representatives welcomed the visit, which would push forward all initiatives aimed at ensur-

ing a secure and stable life for nations and peoples in light of the challenges facing the world, which require strengthening and promoting the principles and values of peaceful coexistence for a better future for mankind.

She said that the Kingdom, under the wise leadership of His Majesty King Hamad bin Isa Al Khalifa, has a unique and historic experience to be proud of in terms of tolerance, pluralism, peaceful coexistence between religions, and society. “Bahrain has become one of the leading countries in this field,” she said.

She expressed her deep appreciation for the civilisational and humanitarian initiatives of His Majesty the King in promoting and consolidating the values and principles of peaceful coexistence through a number of initiatives, which have strengthened

Bahrain, under the wise leadership of His Majesty King Hamad bin Isa Al Khalifa, has a unique and historic experience to be proud of in terms of tolerance, pluralism, peaceful coexistence between religions, and society.

the international standing of the Kingdom, in addition to the efforts of His Majesty and directives to intensify endeavours to protect and promote these values in order to achieve world peace and ensure security, stability and comprehensive development in

GCC drive to support flood-hit Iranians

Riyadh

Humanitarian aid organisations in Saudi Arabia and the UAE have joined forces to help thousands of Iranians hit by devastating floods.

The Saudi Red Crescent Authority ( SRCA ) and Emirates Red Crescent (RCUAE) yesterday launched a major relief initiative after recent deluges left around 80 people dead and

In a joint statement, the two agencies said they were drawing up plans to channel aid to the worst-affected areas in a bid to ease the suffering of the Kingdom’s and the UAE’s “Iranian brothers.”

Iranian authorities on Wednesday ordered tens of thousands of people to leave their homes as floodwaters poured into the southwest city of Ahvaz, capital of Khuzestan province.

men to volunteer to “help us in building dykes and to assist in the evacuation of women, children and the elderly.”

Nearly 80 people are known to have died in the past three weeks in torrents, described as the worst since the 1940s, which have swamped about 1,900 cities and villages in 20 of Iran’s 31 provinces.

The northeast of Iran was first to be hit by floods on March 19 before the west and southwest

the countries of the world. She also paid tribute to the efforts of His Majesty and directives to intensify endeavours to protect and promote these values in order to achieve world peace and ensure security, stability and comprehensive development in the countries of the world.

She went on to say that supporting stability, peace and peaceful coexistence is one of the most important orientations of the Kingdom, which the international community seeks to implement and requires concerted efforts and co-ordination of share efforts by all parties and institutions.

Shura Council Chairman affirmed that the Kingdom is an oasis of peace and coexistence, characterised by an atmosphere of openness and democracy and keen to build cooperation rela-

tions with various countries. He pointed out that the Kingdom of Bahrain is interested in developing its relations with all countries in order to promote peace, international tolerance and interfaith coexistence worldwide through the initiatives launched by His Majesty the King, which would contribute to confronting extremism and challenges facing different countries of the world.

The visiting delegation toured a number of national companies and industrial establishments in the Kingdom including the Gulf Petrochemical Industries Company (GPIC), where they were received by the Company’s President, Dr Abdul Rahman Jawahery, who briefed them on the company’s departments and role in enhancing the development process and upgrading the petrochemical industry.

The first Gulf Cooperation Council ( GCC ) Health Council  was held under the patronage of Kuwaiti Health Minister Dr Shaikh Basel Al Sabah.

National Health Regulatory Authority ( NHRA )

Chief Executive Officer Dr Mariam Adhbi Al Jalahma attended the twoday event, under the theme “ GCC Sustainable Healthcare: Challenges an Future Trends”.

Addressing the conference, she stressed the importance for GCC private health facilities to comply with the good governance requirements to ensure quality and sustainable health services.

She underlined  the results of the National Health Accreditation Programme, which was endorsed in the Kingdom, stressing the importance of the scheme in promoting good governance of medical teams’ performance.

The conference aims to build an informative and enriching information base by attracting specialists, scientists, researchers and institutions concerned with health care.

It also seeks to highlight the importance of comprehensive health coverage in line with the development responsibilities of health bodies to move forward in achieving the global goals and objectives of sustainable development.

Strong US ties lauded

Minister of Justice, Islamic Affairs and Endowments Shaikh

Khalid bin Ali Al Khalifa yesterday received the US Ambassador

Fire put out

to Bahrain, Justin Siberell.

He lauded outstanding relations of friendship and co-operation between both countries and their perpetual growth at all levels.

Discussions focused on ways

of boosting bilateral co-operation in the justice and legal fields.  The meeting was attended by the ministry Assistant Undersecretary for Statistics, Planning and Telecommunications Dana Al Zayani.

The Norwegian delegation being briefed on GPIC projects.

Manama

Planting evergreen friendship

GPIC plants 150 Neem trees to create Bahrain-India friendship garden

TDT | Manama

It’s hard not to be impressed by India’s miracle Neem well know for its medicinal properties and ability to protect the environment. Its uses are so diverse that Neem is often referred to as the ‘village pharmacy’ of South Asia.

So, it wasn’t a surprise the Gulf Petrochemical Industries Company (GPIC) has chosen to plant 150 Neem trees for Bahrain-India Friendship Garden in Sitra.

The garden has been built using the latest designs and advanced irrigation systems to keep the evergreen trees healthy.

Indian Ambassador Alok Kumar Sinha and United Nations Environment Office in West Asia Regional Director Sami Dimassi were present during the inauguration.

Sinha said the park is a translation of the friendly relations between the two countries and is an appreciation of India’s status.

The ambassador further stressed the historical ties and the strength of trade and economic relations.

Major fire in Sanad

TDT | Manama

Amassive fire broke out yesterday at a sports centre in the Sanad town, but nobody was injured in the incident.

Authorities are yet to disclose the extent of the damage or the cause of the fire which gutted the centre completely.

Interior ministry tweeted:

“Civil defence extinguished a fire in a building in Sanad.”

The fire, according to eyewitnesses, erupted at around 4.20pm yesterday and spread rapidly.

Around five vehicles and 16 fire tenders were employed to put out the flames.

Reports, however, claimed short circuit as the cause of the fire.

Interior Ministry said all necessary procedures were taken.

An investigation is ongoing.

GPIC, President Dr Abdulrahman Jawahery said, selected neem for its ability to grow in dry environments.

town

A scientific study has nominated Neem as the 21st-century tree highlighting its uses in the pharmaceutical and pest control

industry, including agricultural and insect repellents. The tree is also a new source of biofuel production as well as its superior

air purification capacity.

Sami Dimassi, Director and Regional Representative of the UN Environment West Asia Office said the World Environment Day this year focuses on the theme of reversing air pollution and aims to motivate governments, industries and individuals to work together to explore renewable energy and green technologies and improve Air quality around the world.

Earlier, upon his arrival, Sinha was received by GPIC General Manager Corporate Support Fadhel Al Ansari, members of the company’s Executive Management and senior officials. Neems are large, dense trees that grow up to 20 meters high and their branches form a large crown. These trees produce high-quality ash and sand. They also can purify soil from salts and are known for their multiple medicinal uses in veterinary vaccines and the pharmaceutical and cosmetic industry.

Indian Ambassador Alok Kumar Sinha, Second Secretary, Renu Yadav, Second Secretary Chowdhury with United Nations Environment Office in West Asia Regional Director Sami Dimassi, GPIC General Manager Corporate Support Fadhel Al Ansari and other top GPIC officials during the inauguration of Bahrain-India friendship garden in Sitra

Firefighters at the scene of fire (Ministry of Interior)

Health Minister Faeqa bint Said Al-Saleh sharing the joy of Eid with kids in the paediatric wards at the Salmaniya Medical Complex

18 June 2019

GPIC backs women empowerment drive

KFH-Bahrain new financial

TDT | Manama

Dr Jawahery applauds the role of HRH Princess Sabeeka in empowering Bahraini women

TDT | Manama

Gulf Petrochemical Industries Company ( GPIC ) President Dr Abdulrahman Jawahery yesterday pledged to continue efforts to boost the Kingdom’s women empowerment drive.

Expressing pride in the role of Her Royal Highness Princess Sabeeka bint Ibrahim

Al Khalifa in this regard, Dr Jawahery said, “We now have 25 per cent of job disciplines at the GPIC that entitle women to work in.”

“This represents 10 per cent of the company’s total staff, including three women in leadership positions in Exec-

utive Management, as well as other supervisory centres,” he added.

Hailing the new name of this year’s award to mark Bahraini Women’s Day, the GPIC Presidents said, “This prestigious award has added a lot of momentum to the celebration of Bahrain Women’s Day.”

The Secretariat of the Supreme Council for Women announced on June 16 the launch of the sixth edition of Her Royal Highness Princess Sabeeka bint Ibrahim Al Khalifa Award for the Advancement of Bahraini Women. It is awarded every two years to the best ministries, government, private and civil society institutions.

Abdul Razak Jawahery, Executive Manager of Private Banking and Wealth Management at Kuwait Finance House-Bahrain (KFH-Bahrain), has announced the launch of a new line of Shari’a compliant investment products.

KFH-Bahrain Call Accounts, Wakala Deposits Accounts and Flexi Wakala Investment Accounts have been introduced to better suit the needs and requirements of Private Banking clients.

The Call Accounts combines the benefit of savings and current accounts into a single product, with the added benefit of calculating profit daily and distributing the profits every month to investors. Call Account can be opened in Bahraini dinars and or US dollars.

“Wakala Investments Ac -

Participants during Bahrain Bourse’s 3rd semi-annual brokers meeting at the Bourse’s premises in the Bahrain Financial Harbour, yesterday. The meeting updated brokers on key developments at the Bourse including the newly proposed investor account opening process and the implementation of VAT Bahrain Bourse’s services, commencing on the 1st of July 2019

BCCI seminar on “The Technical Regulations for Plastic Products”

TDT | Manama

The Bahrain Chamber of Commerce and Industry (BCCI) is holding an awareness-raising seminar the technical regulations for plastic products.

The event will be held today from 9:30 am in Al Majlis Hall on the third floor of Bait

The event will be held today from 9:30 am in Al Majlis Hall on the third floor of Bait Al Tijjar in cooperation with the Supreme Council for Environment SCE) and the Ministry of Industry, Commerce, and Tourism. The seminar aims at raising the awareness of plastic manufacturers and suppliers of the technical regulations, and provide them with guidelines. BCCI extends an invitation to the business community to attend the seminar.

TRA’s role in telecoms sector development praised

TDT | Manama

TheTelecommunications Regulatory Authority’s (TRA) Board yesterday reviewed the progress of projects proposed in the Fourth National Telecommunications Plan (NTP4) including that of the realisation of the single fixed fibre National Broadband Network.

During their second meeting held at TRA’s headquarters in the Seef District, the board of directors of TRA also reviewed latest market indicators, market review for international connectivity, the progress of spectrum and frequency distribution for launching 5G networks in the Kingdom. Expressing appreciation of

26 June 2019

The Telecommunications Regulatory Authority’s (TRA) Board of Directors held their second meeting this year at TRA’s headquarters in the Seef District

the progress achieved, the board hailed actions taken by TRA to rectify the telecoms towers situation in the Kingdom.

Moreover, the Board ex -

pressed their appreciation to TRA for its efforts in launching registration for Domain Names (.bh & ) through several local and global channels.

Updates on SIM Card Registration Regulation and its progress indicators as to prepaid and postpaid registration were also reviewed.

Alba, GPIC win top RoSPA awards

• The Awards were presented during a ceremony under the patronage of Her Majesty Queen Elizabeth II

Aluminium Bahrain (Alba) and the Gulf Petrochemical Industries Company (GPIC) won top awards

BCCI holds discussion on “Labour Market Challenges”

TDT | Manama

The Bahrain Chamber of Commerce and Industry BCCI) is holding the final session of its focus-group discussion themed “Labour Market Challenges”.

The event falls in line with the directives of His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa on empowering the private sector, and in a bid conduct a comprehensive study on market challenges and propose solutions.

from the United Kingdom’s Royal Society for the Prevention of Accidents (RoSPA).

The awards were presented during a ceremony under the patronage of Her Majesty Queen Elizabeth II and attended by RoSPA Vice President Lord Jordan of Bournville, dignitaries in the field of occupational safety and representatives of companies around the world.

Alba received the RoSPA Gold Medal Award 2019 in recognition of its out-

standing practices to ensure a safe and healthy work environment. GPIC received two awards – one for its outstanding role in the field of safety and health and safety practices in the chemical industry and the RoSPA International Award for Excellence in Health and Safety.

The Gold Medal Award was received by Alba’s Safety, Health & Environment Manager, Nezar Hameed during the ceremony held at ExCeL, London. President Dr Abdulrahman Jawahery received the Awards for GPIC

On this occasion, Alba’s Chief Execu-

tive Officer, Tim Murray, said: “We are honoured to receive this prestigious accolade, for the sixth year in a row. We look forward to keeping the Safety momentum as we are on course for Alba’s transformation to be the largest smelter in the world with the full ramp-up of its Line 6 Expansion Project by 31 July 2019.”

In a statement, Dr Jawahery expressed pride in the company’s approach under the leadership of the Board of Directors, led by Dr Ahmed Al-Sharyan, especially about investing in human resources.

NBK joins hands with ParkPass

• ParkPass membership gives NBK customers access to multiple valet parking locations in Bahrain

TDT | Manama

The membership gives access to multiple valet parking locations in Bahrain such as Bahrain City Centre, Seef Mall, Al A’ali Mall, Moda Mall, Oasis Mall Juffair, Galleria Mall, Bahrain Bay (The Park & The Wharf), Block 338 and King Hamad University Hospital.

38

The meeting will be held Thursday from 10:30 am 11:30 am in Al Majlis Hall Bait Al Tijjar and will deliberate about the impact of flexi work permit and irreg-

ular workers on local businesses and the national economy. BCCI extended an invitation to its members to enrich the session with their valuable input.

The National Bank of Kuwait (NBK) announced signing a partnership with ParkPass, Bahrain, to give its customers complimentary access to valet parking services in multiple locations in Bahrain through ParkPass membership.

Customers can now avail of this exclusive offer using their NBK Gold credit card.

“We are extremely happy to have entered this partnership with ParkPass and are hopeful that more and more people of Bahrain will start using our credit cards and benefit from our unique offers,” stated Ali Fardan, General Manager, NBK

“We are excited that the customers will benefit substantially from this tie-up”, said Omar Al-Khan – Managing Partner of ParkPass.

TDT | Manama

Alba received the Gold Medal Award 2019 by the Royal Society for the Prevention of Accidents (RoSPA)

GPIC President Dr Abdulrahman Jawahery received the Awards for GPIC

BCCI, Bait Al Tijjar

Al Tijjar

28 July 2019

The General Directorate of Civil Defence yesterday held the graduation ceremony of the first course for female officers and commissioned officers. aimed to enable the civil defence female staff to deal with dangerous substances and carry first aid. The training would reinforce the fast response empowerment efforts of the Interior Ministry in various security sectors.

The Gulf Petrochemical Industries Company (GPIC), in cooperation with the General Directorate of Traffic, organised an activity to spread traffic awareness among the children of employees taking part in the Company’s Annual Summer Camp. A team from the Directorate, during their visit to the company’s headquarters, briefed the children on a set of traffic guidelines that they should observe on the road for their safety. They also learned about road signs that regulate the movement of vehicles and pedestrians.

Students of Pakistan School clinched excellent results in the Federal Board Result of SSC I 2019.The results are a proof of the exemplary academic planning and goal setting of all the stake holders, the school management said. “This is definitely the outcome of the constant support of the parents, relentless hard work of our beloved students, dedicated, focused and professional teaching of teachers, comprehensive academic planning of Principal Attiq ur Rehman and the incessant support and guidance of the Chairman Board of Management, Sami ur Rehman.” Nineteen students clinched ‘A+’ positions, with an equal number fetching ‘A’ grades followed by 33 students with ‘B’ grades.

The Indian Community worksite near summer.

05 August 2019

for Apple highlighted by weak iPhone sales. “I believe the iPhone success is a double-edged sword for Apalso likely to crater.” Greengart said the fears are overblown, pointing out that Apple has a large and loyal base of iPhone users which allows the company to sell more accessories and services.

Techsponential. “Apple has been signaling for a while that its plan was to diversify into services and we’ve seen from the latest results that this strategy is working quite well.”

“They’re keeping their existing customers and there’s still more switching to iPhone than away from iPhone,” he said. Greengart said Apple has the potential to lead in mobile augmented and virtual reality, health and wellness services through its smartwatch, which has been dominating the segment. “Satisfaction with the Apple Watch is very high,” the analyst said. “If you want a smartwatch and you have an iPhone the Apple Watch is compelling, and once you have the Apple Watch, you’re not going to switch to Android.”

Apple’s roadmap

Apple’s update should allay investor concerns that the company’s growth could be hobbled by a sputtering smartphone market, said a research note from Gene Munster and Will Thompson of the equity firm Loup Ventures.

But some analysts warn that Apple still faces challenges as rivals chip away at the smartphone market, in which the iPhone’s share is less than 12 percent. Daniel Newman of Futurum Research said it was “an impressively unimpressive quarter”

“We believe the Street is systematically undervaluing Apple’s ecosystem by focusing on hardware sales instead of revenue and earnings growth plus optionality,” Munster and Thompson wrote. “We believe this quarter’s results and the roadmap for the next two years will prove to be a turning point for investors to begin valuing Apple with a more appropriate multiple.”  Challenges ahead

Gulf Petrochemical Industries Company (GPIC) President, Dr Abdulrahman Jawahery and members of the executive management receiving Hassan Nabeel, an engineer who was recently promoted to the position of Laboratory Superintendent. The promotion came within the framework of the GPIC’s Bahrainisation policy and recognizing Bahraini competence.

07

and we are proud of our CSR commitment to RCO, which will continue.”

RCO’s secretary general, Dr Mustafa Al Sayed, also visited the RCO Summer Camp to congratulate the participants and review their activities. The Camp will run until Saturday.

into the future and the more we empower them, the brighter our future shall be.

stone

“Over seven years, the Lulu-Ramli Mall-RCO partnership has succeeded in running these summer camps to teach these children the best values

fun and games to ensure that the lessons are absorbed. Juzer Rupawala, Lulu Group director, expressed his appreciation of the long and fruitful partnership between Lulu Hypermarket, Ramli Mall and the RCO. He said: “Children are our stepping

ligraphy and participated in martial arts training and boxing. They also learned about personality development, speaking the English language and concepts of etiquette. The Summer Camp uses the Edutainment format of teaching through

MORE than 100 orphans, under the care of the Royal Charity Organisation (RCO), attended a summer camp at Ramli Mall which Lulu Hypermarket has supported since 2013. Children were taught various skills including painting, drawing and cal -

Waterpark fun

GULF Petrochemical Industries Company (GPIC) annual Summer Camp visited the Lost Paradise Water Park as part of its educational and recreational activities. Children of employees enjoyed a funfilled day at the waterpark. GPIC started the summer programme for its employees in 2005 and it includes activities for childre n aged six to 14 years.

trade war.

“We’ll see whether or not we keep our meeting in September,” Trump told reporters at the White House before heading out on vacation at his New Jersey golf resort.

Relations have soured further in the past week after

nipulator, after the yuan lost value in the face of the new round of tariffs due to take effect September 1.

“We’re not ready to make a deal but we’ll see what happens,” Trump said. “We have all the cards. We’re doing well.”

Huawei unveils own operating system

Dongguan, China

Chinese telecom giant Huawei unveiled its own operating system yesterday, as it faces the threat of losing access to Android systems amid escalating US-China trade tensions.

Richard Yu, the head of Huawei’s consumer business, told a press conference in the southern city of Dongguan that the new system, called HarmonyOS or HongMeng in Chinese, would “bring more harmony and convenience to the world”.

Yu said the new system was a “future oriented OS” to be

Richard Yu

reporters at the White House before heading out on vacation at his New Jersey golf resort.

Analyst David Madden at trading firm CMC Markets UK said: “Beijing won’t like the latest development, so the uncertainty is likely to spill over into next week.”

10 August 2019

Wall Street shares dove after the announcement, as did European markets, which were already headed downward over Italian political ructions and data showing the UK ’s Brexit-facing economy is on the brink of recession.

“Political uncertainty in Italy has rocked stock markets around Europe,” Madden said.

quarter would put Britain in recession ahead of the nation’s expected withdrawal from the EU on October 31.

“All in all, today’s disappointing GDP figure is set to raise alarm bells over Brexit dragging the UK economy deeper into the abyss,” said Lukman Otunuga, senior research analyst at FXTM

Volatile week

It was a markets, mered on jing allowed against the Trump’s fresh tariffs starting September Oil prices boosted by Arabia was low OPEC prices.

Key figures around 1555 GMT

“more smooth and secure”, which he said was “completely different from Android and iOS”.

Huawei said the first version of the operating system would launch later this year in its smart screen products. Over the next three years it will be developed across a range of smart devices including wearable technology.

Milan’s stock market closed down more than two per cent after Italy’s far-right Deputy Prime Minister Matteo Salvini pulled his support for the country’s coalition government on Thursday and called for snap elections.

The heightened political tensions in the heavily-indebted country -- the eurozone’s third largest economy -- also caused yields to rise on Italian government bonds.

In currency trading, the

20,684.82

Hong Kong - Hang Seng:  0.7 pc at 25,939.30

Shanghai - Composite:  0.7 pc at 2,774.75 (close)

Euro/pound  at 92.86 pence from

Pound/dollar:  at $1.2081 from $1.2138

Euro/pound:  at 92.84 pence from Euro/dollar:  at $1.1216 from $1.1182

Dollar/yen:  at 105.49 yen from Brent North Sea crude:  $1.32 cents at $58.70

West Texas Intermediate:  $1.91 cents at $54.45

GPIC Managing Director Samir A. Al Abdrabbuh along with Dr Abdulrahman Jawahey GPIC President presented a certificate and an award to Ahmed Nass from the Human Resources and Corporate Communications Department, who has been named the Employee of the Month for February 2019. Ahmed joined the Company in 2000 and is a Time Management Officer in the Human Resources and Corporate Communications Department

On the occasion visit to UCO Parents spirit, share the to the centre’s

devik.

lars of peaceful co-existence and tolerance there. He affirmed that United Nations General Assembly had recently endorsed HRH Premier’s initiative to designate April 5 of each year as an ‘International rain has gradually moved towards democracy and has, since 2002, a National Assembly with two chambers, one of which is elected and the other is appointed by His Majesty King Hamad bin Isa Al Khalifa,” he said, lauding the entire world. Under the leadership of His Majesty King Hamad bin Isa Al Khalifa, the kingdom has been keen to participate in international efforts and gatherings aimed at contributing to promoting such kh Hussam bin Isa received the award, on behalf of HRH Premier, from the former Norwegian Prime Minister and President of the Oslo Centre for Peace and Human Rights, Kjell Magne Bon

granted during a ceremony held in the Norwegian Capital, under the patronage of Norway’s Prime Minister, Erna Solberg, and in the presence of Cabinet Affairs Minister, Mohammed bin Ibrahim Al Mutawa, the Chairman of the lauded HRH Premier’s efforts and achievements in consolidating the International Community’s steps aimed at ensuring a stable and secure world in which peace and co-existence among all countries and peoples prevail.

Bahrain Hajj Mission held a special function to honour those who actively supported the mission, especially Hajj Caravan owners.

Members of the Ladies Working Committee at the Gulf Petrochemical Industries Company

(GPIC) distributed gifts to children at King Hamad University Hospital to provide them with joy during Eid Al Fitr. Company President Dr Abdulrahman Jawahery thanked the Chairperson and members of the Committee for the initiative which, he said, reflected the humanitarian spirit and love of others. He praised the efforts of Committee members, which translate the company’s policy to build bridges of co-operation and support for all categories of Bahraini society. He said the initiative is not new to the employees of the company, who are keen to extend a helping hand and assistance to all.

period of three days. efforts to promote the

MORE than 400 people received free medical checkups from a camp organised by the People’s Forum in association with Al Hilal Hospital. The camp was inaugurated by Indian School ex -

14 August 2019

ecutive member Ajaya Krishnan at the hospital’s Adliya branch and was chaired by People’s Forum President JP Azad. The camp included eight doctors from different specialisations for free consultation and patients were offered tests for blood pressure, blood sugar, cholesterol, kidney and liver (SGPT & creatinine). Visitors were also given privilege cards that allow up to 40 per cent discount for a period of one year.

ALWANE Bahrain Society featured a workshop focusing on small and medium enterprises marketing on social media. It was coorganised with the Handicraft Centre at ALWANE headquarters in Seef. The workshop was part of the Society’s efforts to raise awareness in interactive discussions with women entrepreneurs to update them on marketing their business on social media.

Receiving employee

exhibitions and events further strengthening its

BATELCO recently announced the commencement of its Graduate Trainee programme for 2019, which aims to prepare the kingdom’s business leaders of the future. The programme was launched in collaboration with the Labour Fund (Tamkeen) and aims to introduce graduates to the telecommunications sector. Of all the graduates who have taken part, Batelco has employed 48 of the 72 who received training, with the others receiving employment with other telecommunications providers.

GPIC president Dr Abdulrahman Jawahery and members of the executive management received Hassan Nabeel, an engineer who was recently promoted to the position of Laboratory Superintendent. The promotion came within the framework of the GPIC’s Bahrainisation policy and recognising Bahraini competence.

Fajr Capital, including managed by Blackstone and Company, announced the

GEMS Education to a Partners.

Trainee programme

announced Faleh Saleh personal loan offer. He was received a cash back was presented with the in the presence of NBB’s which runs until the end opportunities as well as top-up loan customers. This period option, as well as a disprocessing charges.

countries, in addition to the role of Bahraini embassies and diplomatic mission and their relations with Bahraini students abroad.

The constitutional and legal theme will define the principles of the National Action Char-

Kingdom of Bahrain and the laws that granted the right to political participation and the political societies.

The political theme is related to the history of Bahrain’s political system, the referendum

influencing the public opinion and making speeches.

The ‘Ambassadors of the Nation’ Programme provides overseas students with political and legal culture to act as the best ambassadors for the Kingdom

18 August 2019

political, economic, social and religious fields.

The programme also seeks to strengthen bonds between overseas students and the homeland by focusing on the values of belonging to the nation.

Ambassador Alok Kumar Sinha was the chief guest at the event, which was attended by Club Acting President Marshal Dasan, General Secretary Job M J, Treasurer Hari Kallinkeel. A flag-hoisting ceremony was held in the morning. Separately, the ‘young stars of the club’ entertained the audience with a number of exciting, impressive and

around 100 workers to ICRF’s programme intend to continue this

The members of the Working Ladies Committee of the Gulf Petrochemical Industries Company (GPIC) visited the Bahrain Cancer Society to provide support to its volunteer activities and services for cancer patients. This came as part of its strong commitment to supporting the awareness and educational role of the community. Commenting on the occasion, GPIC President Dr Abdulrahman Jawahery said the company is used to launch humanitarian initiatives that serve the community and sought to emphasise its commitment to its social responsibilities.

21 August 2019

SAAR Mall management and the Themar volunteer team marked Eid Al Adha with a series of activi ties for children to enjoy at the food court. There was a henna artist and Arabic calligrapher present as well as a character artist. Competitions were held with prizes to be won. Gifts were also distrib uted amongst the crowd and coupons were handed out to children to use at the Kids Palace. Two lucky winners took home gold bars from Avatar Gold Shop as part of the mall’s raffle. The ceremony concluded with guests enjoying kunafa from Ward Al Sham.

Family fun Migration

GPIC’s Social Activities Committee organised a family celebration for its employees and their families on the third day of Eid. The ceremony, held at the GPIC Club, was attended by Fadhel Al Ansari, the general manager of corporate support, Yasser Al Abbasi, general manager of manufacturing, the Labour Union deputy chairman and company officials. The event consisted of several fun activities and competitions.

BAHRAIN Mumtalakat Holding pletion of its cloud services Bahrain data centres, the gration allows Mumtalakat data centres while improving information technology services.

accounting and summit on VAT in awareness of country.

21 August 2019

THE Avenues-Bahrain management organised a visit to UCO Parents Care Centre in Al-Hidd area to spread the Eid spirit, share joy with the elderly and show them that people regard them as part of their family.

LUCKY Qais

Al Yousuf Exchange. ous members invited guests.

different Eid.

two-part sign

Surgeons in Ireland the Bahrain University’s Cominitiative brought the aim of with future included the time, in adfrom the BahHuda Almutawa

MEMBERS of the Ladies Working Committee at GPIC distributed gifts to children at King Hamad University Hospital to celebrate Eid. Company president Dr Abdulrahman Jawahery thanked the chairperson and members of the Committee for the initiative which, he said, reflected the humanitarian spirit and love of others.

Certificate Sharing love Specialised training

THE Bahrain eCommerce Academy, which is one of the initiatives between Ministry of Industry, Commerce and Tourism and ThinkSmart Development and Training supported by Tamkeen, provided specialised training courses in the eCommerce

BAHRAIN Commercial renewed its tion Security level of security

the winners July. The included KhairSuad Makki

28 August 2019

THE InterContinental Regency’s Friday Brunchism event, which was spread across three guests enjoying a large buffet spread, several food stations and entertainment. The hotel’s general manager and Intercontinental-Regency general manager Philipp Economou, cluster marketing manager Priya Shankar, were also present.

Providing support Open

during in Seef with their Sponge and roamalso face

Rashid

of

head-

THE members of the Working Ladies Committee of GPIC visited the Bahrain Cancer Society to provide support to its volunteer activities and services for cancer patients.

Pilots welcomed

A NEW batch of eight Bahraini pilots has been added to Gulf Air’s roster after completing ground and base training courses. The group of eight are now operating as Second Officers to complete a set of

THE American University house event at with the aim of an appreciation opening in September

28 August 2019

Closing Bell

 0.3pc at 8,286 pts

DHABI  2.7pc to 5,131 pts

SAUDI

ABU

eign investors, who have been net buyers every month this year, sending the Saudi index up nearly 20pc at its peak in May. Three of an eventual five tranches of Saudi stocks have been added to the FTSE emerging-market index this year. However, since May regional geopolitical tensions and global trade tensions have reduced the Saudi index’s year-to-date gains to 4.7pc.

“If, Mr Johnson, you insist on the Withdrawal Agreement, we attempting to negotiate an amended departure agreement support,” said Farage. “We could be their worst eneadviser David Frost will head to Brussels for talks Wednesday.

Danat names Noora Jamsheer as new CEO

 0.8pc to 2,751 pts

DUBAI

QATAR

 2.5pc to 10,030 pts EGYPT

 0.1pc to 14,284 pts

 0.4pc to 1,537 pts

BAHRAIN

OMAN

 at 6,527 pts

 0.7pc to 3,954 pts KUWAIT

Weighing on the index on Tuesday were Al Rajhi Bank and Saudi Telecom ( STC ), which closed 1.2pc and 2.1pc lower, respectively, as passive funds have already bought those shares in line with Saudi Arabia’s inclusion in the MSCI index. “As expected, large caps in Saudi such as STC and Rajhi are being sold, as we reckon selective in their approach. In Dubai, the index was up 0.8pc with all its property shares trading higher and blue-chip developer Emaar Properties gaining 2.1pc. Egypt’s blue-chip index traded roughly flat with Egyptian Resorts shedding 5.3pc.

mer CEO ,” said Al Sharifi. Jamsheer is a certified Rough Diamond and Polished Diamond Grader having completed her training at the International Gemological Institute Belgium and Gemological Institute of America United States of America respectively. She has also monitored and worked with various governments in developing the synergies to combat conflict diamonds and minerals. In her new role with DANAT , Jamsheer will implement her knowledge to develop innovative and sought-after services.

Noora Jamsheer

TDT Manama D anat yesterday announced naming Noora Jamsheer as its new CEO . “We believe that Jamsheer’s thorough understanding of the field, leadership skills and result-driven efforts will be in keeping with DANAT ’s vision of making Bahrain a centre for gemological excellence, not only in the region but on an international scale,” said Yasser Al Sharifi, Chairman BOD Danat. “We would like to thank Kenneth Scarratt, for all his efforts and leadership as DANAT ’s for -

GPIC Managing Director Samir A. Al Abdrabbuh along with Dr Abdulrahman Jawahey GPIC President presented a certificate and an award to Husain Ahmed from the Plants Operations Department, who has been named the Employee of the Month. Husain joined the Company in 2010 and is a Loading Shift Supervisor in the Plants Operations Department.

WEDNESDAY, SEPTEMBER 4, 2019

04 September 2019

Arab Fertilizer Association (AFA) Chairman Dr Awad Al-Saber Mabrouk during a visit to the Gulf Petrochemical Industries Company (GPIC) yesterday. Several members of the AFA Board accompanied Dr Al-Saber, who was in Bahrain to attend an AFA General Council Meeting. GPIC President Dr Abdulrahman Jawahery briefed the AFA delegation on GPIC’s business philosophy and operational strategy as well as the activities it is involved in to support the community. The guests had a tour of the complex. Dr Al-Saber planted a sapling to commemorate his visit and as a gesture of his support of the environment.

Paris court hands ex-Thai airline CEO

Al Baraka holds summer training for students

4-year term over 2007 crash

Paris A French court yesterday sentenced the former head of a Thai budget airline to four years in jail over a 2007 crash that killed 90 people, nearly two-thirds of them foreigners. The suit, filed by the families of the nine French A jet operated by Thai budget airline One-Two-Go crashed while trying to land on the resort island of Phuket in September 2007, killing 90 people

TDT | Manama A l

Baraka Banking Group and Al Baraka Islamic Bank organised a summer training programme for a new batch of 11 students from various local and foreign universities to prepare them to enter the labour market. The programme included several theoretical and practical training sessions in addition to field training in various sections of the Group and the Bank and specialised workshops.

Students and officials during a photocall

Abdulrahman Shehab, Executive Vice PresidentHead of Operations and Administration at Al Baraka Banking Group met with the trainees and congratulated them for completing the programme.

ITHMAAR Bank announced plans for an upgrade that will improve its customers’ banking experience. The announcement follows the formal appointment of one of the world’s leading banking solutions experts to help implement a Customer Relationship Management platform upgrade.

11 September 2019

Delegation visit

winner of Seef Mall’s

ARAB Fertilizer Association (AFA) chairman Dr Awad AlSaber Mabrouk visited Gulf Petrochemical Industries Company (GPIC) alongside several members of the AFA Board. The delegation were briefed on GPIC’s carbon dioxide recovery project as well as the programmes and activities of the Learning and Leadership Academy and the eLearning Centre.

Project launch

several draws that

runs until the end of chief executive officer

THE Royal College of Surgeons in Ireland –Medical University of Bahrain (RCSI Bahrain) launched a campus sustainability project aimed at improving the quality of campus life while reducing its environmental impact. Staff and students have been encouraged to participate in a series of projects which kicked-off with the launch of RCSI Bahrain Green Week earlier this year. The ‘Turn it Off’ campaign was also launched to reduce unnecessary electricity usage

Jordan-Bahrain’s (BOJ) officer Salam Gamoah recently established branch

THE Rotary club of Salmaniya held its regular lunch meeting at the Golden Tulip Hotel. The guest speaker was Batelco’s head of Cyber

Alba Line 6 nearing completion: Shaikh Daij

TDT | Manama

Aluminium Bahrain’s (Alba) Line 6 Expansion

Project is nearing its completion setting the stage for it to become the world’s largest aluminium smelter, said a top Alba official.

Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, during its third quarterly Board of Directors meeting for this year, congratulated Alba employees and contractors for achieving “Safety milestone of more than 11 million working-hours without Lost Time Injury (LTI).”

This Safety score endorses our overarching objective of ‘Think Safety First and Always’,” he said.

The meeting also approved the appointment of Bryan

26 September 2019

Harris as the Chief Financial Officer and Khalid Turani as the Chief Internal Audit and Risk Officer with immediate effect.

The board reviewed reports of Line 6 Expansion Project overall progress, Project Titan – Phase IV achieved savings as well as insights on the overall market conditions.

The Alba board comprises six directors appointed by Bahrain Mumtalakat Holding Company – Yousif Abdulla Taqi, Osama Mohammed Al Arrayedh, Yaser E. Humaidan, Dr Mohamed Kameshki and Suha Karzoon.

The two directors appointed by Sabic Industrial Investments Co. (SIIC) are Ahmed Mohammad A. Al Jabr and Ali Al Shamrani and two elected directors, Omar A. Al-Amoudi and Mutlaq Al-Morished. Aluminium Bahrain third quarterly Board of Directors meeting at Alba

Use fertilisers ‘properly’ to protect soil resources: Dr Jawahery

TDT | Manama

Gulf Petrochemical Industries Company (GPIC) President Dr Abdulrahman Jawahery has called on countries in the region to use fertilisers “properly” to help “protect soil resources”. This is “very important for the Gulf region”, Dr Jawahery said citing the harsh climatic conditions and scarce water resources here.

The demand for water in the GCC countries has increased by 140 per cent over the past decade, with 85 per cent of water resources consumed in agriculture and irrigation, Jawahery warned.

He, however, said the fertiliser industry is contributing positively by investing in water conservation projects across the region, reducing water and energy consumption for its operations, as well as working hard on the use of advanced technologies and best practices to reduce carbon emissions.

Dr Jawahery was addressing the 10th annual fertiliser conference of the Gulf Petrochemical and Chemical Association (GPCA) in the Omani capital, Muscat.   Speaking at the opening session, Dr Jawahery, who is also

the GPCA Vice Chairman, said the industry is now one of the most important sources contributing to the social and economic development in the region and has resulted in the creation of jobs and growth.

He said the region is the largest exporter of urea with a global market share of 33 per cent. The Gulf region is the second-largest

source of DAP with 14 per cent of the total volume of exports in addition to being the largest exporter of ammonia with a global market share of 11 per cent.

‘Cautious optimism’

The industry, Dr Jawahery said, would continue to make progress until 2030. The fertiliser industry is expected to add

an estimated 8.1 million tonnes of production, reaching 38.9 million tonnes until then.

On the global economy and its direct impact on the industry, Dr Jawahery said fertiliser consumption and demand are closely linked to GDP and population growth.  The 3.1 per cent growth achieved globally in the past

The demand for water in the GCC countries has increased by 140 per cent over the past decade, with 85 per cent of water resources consumed in agriculture and irrigation

DR ABDULRAHMAN JAWAHERY

GULF PETROCHEMICAL INDUSTRIES COMPANY (GPIC) PRESIDENT

two years, he said, “had brought some cautious optimism to the fertiliser markets.”

According to the World Bank, global growth is expected to slow over the next two years due to trade, investment and tight financing conditions.

2.1pc growth in GCC

Dr Jawahery said growth in the GCC countries is expected to increase to 2.1 per cent this year and 2.7 per cent the next

year. “This will be supported by a rise in the fixed investment rate with the expectation of further growth for the economies of oil-importing countries.”

Need for technology

The African continent, one of the most important fertiliser import markets, will double its population requiring a significant increase in the global agricultural production beyond 70 per cent of current levels.

The growth, he said, also put forward a unique challenge in the form of “land availability, groundwater depletion and shrinking agricultural workforce” calling for a need to harness new technologies.  He also reminded that the industry would need to invest more in research and innovation to meet the new trends.

Dr Jawahery thanked Oman’s Minister for Agriculture and Fisheries His Excellency Dr Hamad bin Saeed Al-Awfi for his patronage and attendance of the event.

The annual conference attracts prominent figures in the strategic industry in the Arab region and the world, in addition to fertiliser consumers and government representatives.

Sadad joins hands with British University of Bahrain for fee payment

• The deal allows BUB students to pay their tuition fees through Sadad with ease across the Kingdom

Manama

Sadad yesterday announced signing a partnership deal with the British University of Bahrain (BUB) to utilise its selfservice kiosks, Sadad mobile app and online express payments services for BUB students to enable the payment of their tuition

fees.

The agreement was signed by Dr Mohamed Rifat Al Kashif, Sadad Bahrain Board Member, and Professor Keith Sharp, Vice President of the British University of Bahrain.

British University of Bahrain representative Khurram Salman – Recruitment & Outreaching Officer, Sadad Bahrainrepresentatives - Noel Silveira, Director – Business Development, and Abin Georgy - Business Development Executive were present. The signing ceremony took place in the British University of Bahrain, in Saar.

The deal was signed by Dr Mohamed Rifat Al Kashif, Sadad Bahrain Board Member and Professor Keith Sharp, Vice President of the British University of Bahrain

27 September 2019

Batelco Innovation

The Gulf Petrochemical Industries Company (GPIC) sponsored the participation of a group of employees of the Ministry of Works, Municipalities Affairs and Urban Planning to attend the 10th Gulf Petrochemical and Chemicals Association (GPCA) Fertiliser conference in Muscat, Oman. A large number of representatives of fertiliser companies from the region and beyond, in addition to prominent figures in the strategic industry, attended. In a statement, company President Dr Abdulrahman Jawahery said GPIC is keen to encourage Bahrainis to benefit from conferences, seminars and workshops, whether organised by the company or others

Samsung to offer financing to help boost India smartphone sales

Reuters | Mumbai

Samsung Electronics is to provide finance to potential smartphone buyers, a company executive said yesterday, in a bid to boost smartphone sales in India where it faces fierce competition from rivals such as China’s Xiaomi.

The financing product, for which Samsung has tied up with a local shadow banking firm, will help the South Korean tech group offer quick and easy loans to all prospective smartphone customers, Mohandeep Singh, Samsung India’s senior vice president for mobile business told Reuters in

a telephone interview.

“We are giving finance to consumers who have not been served consumer finance in the past,” Singh said. He said the company would launch the product in 5,000 stores in 30 cities, and by the end of the year it wants to be in 10,000 stores in 100 cities.

TDT | Manama

Batelco yesterday receiving ‘The Award – Operator” coms World Middle Awards on Tuesday rad Hotel, Dubai.

The award recognises Batelco’s ment in setting mark for the digital business on a highly secure Centre.

Batelco CEO

Egyptian market extends gains

Batelco CEO Mikkel

law – which, for example, for non-custodial sensuch as community sertraining, or addiction treat-

Ambassador to the United Kingdom, Shaikh Fawaz bin

Mohammed Al Khalifa, UK ofintellectuals and representatives from research and decision-making organisations present.

Bahrain, the Minister said, address its future challeng“focusing on our people, community and our shared identity.”

Regulator’

We are pleased to receive this recognition which represents the major strides taken by the Kingdom of Bahrain advancing in the Fintech arena, and particular, the CBB’s reputation as forward-thinking regulator

KHALID HAMAD EXECUTIVE DIRECTOR OF BANKING SUPERVISION AT THE CBB.

financial sector.

are always open to embracing innovation and new technologies,” added Hamad.

CBB officials also participated in a panel alongside banking and Fintech experts the region. The panel disthe creation of a regionFintech hub, the power of collaboration between Fintech companies and banks, and cusexperience at the core.

ilant to new and emerging threats from technology and drones “just as we are alert to –and prepared for – well-known challenges such as ballistic missile threats.”

“We have seen the true nature of these threats with the recent attacks on Saudi Aramco facilities, and we in Bahrain greatly appreciate the UK standing with us in condemning these outrageous acts,” the minister stressed.

of the Ministry of Works, Municipalities and Urban Planning in co-operation with the General Directorate of Traffic of the Ministry of Interior and Bahrain Airport Company

04 October 2019

On the British-Bahrain ties, the minister said that he sees “an even brighter future ahead.”

The opening, marks only a partial opening of the project. Works will continue at Khalifa Al Kabeer Highway, Airport Avenue and the intersection. The project is expected to be fully operational in Q4 this year in conjunction with the opening of the new airport terminal.

GPIC wins top Arab award

TDT | Manama

GPIC yesterday announced winning the 2019 Arab Network for Corporate Social responsibility Award.

The award ceremony was under the patronage of His Highness Sheikh Salem bin

Sultan bin Saqr Al Qasimi, Ras Al Khaimah Department of Civil Aviation Chairman.

Receiving the award, Dr Jawahery praised the important role played by the Arab

Network for Corporate Social Responsibility in the Arab world.

He said: “ GPIC is working to encourage employees to participate in activities that support society in conjunction with the successes on the economic level.”

Network President and Chief Executive Officer Habiba Al Marashi congratulated GPIC for the role it plays in preparing young people for success at the economic level.

The award ceremony

Importers began ordering millions of dollars of extra wheels of Parmigiano Reggiano and other harder cheeses

Reuters | Washington, West Caldwell, New Jersey

Ambriola Co Inc’s mammoth warehouse in West Caldwell, New Jersey, is crammed full of boxes and wheels of harder cheeses such as Parmigiano Reggiano, Pecorino Romano and Grana Padano - and more is coming, lots more.

Phil Marfuggi, president and chief executive officer of Ambriola, a unit of Auricchio SpA, one of Italy’s largest cheese producers, is among the many importers and shop owners across the country who are scrambling to stockpile European cheeses before new US tariffs kick in on Oct. 18 in efforts to shield consumers from price hikes.

The Trump administration on Wednesday slapped 25% tariffs on cheese and other European Union products ranging from whisky to woolens, in retaliation for EU subsidies on large aircraft. Both sides say they are open to negotiations, but trade experts see little chance of averting the duties - at least in the short run.

Importers began ordering millions of dollars of extra

wheels of Parmigiano Reggiano and other harder cheeses after the U.S. Trade Representative’s office in July added cheese to its list of EU products potentially facing tariffs due to the dispute over aircraft subsidies.

“When that list came out, that’s when I ... started bringing in many more containers of cheese of Reggiano, Provolone,” said Marfuggi, who has another 21 shipping containers full of cheese en route to be added to the stockpile in the company’s warehouse in Caldwell, which sits about 15 miles west of Manhattan.

Marfuggi said he ordered an extra $15 million of cheeses that could be stored for over a year to ensure adequate supplies for existing customers and protect pricing through the end of the year.

“I’ve been building up inventory ... because we have a target on our backs,” he said.

The new duties could slash US imports of EU cheeses valued at $1.5 billion a year by 30pc

and jack up prices across the country, said Marfuggi, who also serves as president of the Cheese Importers Association of America.

er prices and eventually jobs across the United States, said Ralph Hoffman, executive vice president of Schuman Cheese, one of the largest importers of hard Italian cheeses.

Over 20,000 U.S. retail stores ranging from Costco Wholesale Corp to Wegmans Food Markets sell EU cheeses. These cheeses generate some $3.5 billion of revenue for U.S. companies, supporting some 20,000 jobs, including buyers, deli clerks, truck drivers and warehouse workers, Hoffman said. He noted that the new tariffs come on top of existing duties of around 15%.

06 October 2019

Some higher-priced items will simply disappear from stores, he predicted, like Moliterno al Tar-

Specialty grocer The Fresh Market expects the tariffs to affect about 35pc of the 200 cheeses it carries at its 160 stores.

The Telecommunications Regulatory Authority ( TRA ) of Bahrain yesterday announced launching its newlook website to keep pace with latest technologies.

The website, TRA said, acts as a communication portal, whereby visitors can effectively interact with TRA , and a reliable source for all matters related to TRA on the Internet, such as news,

events, activities services.

“The website has nical features that and fast navigation ous components and and many interactive to improve the level mation provided beneficiaries,” said of Media & Consumer Sh. Abdulla Bin Khalifa.

To view the new visit www.tra.org.bh

Sales at Taiwan’s Apple supplier Hon Hai flat in Sept • Taipei-based Foxconn, manufactures the bulk of Apple’s iPhones in China

Reuters | Taipei

Sales at Hon Hai Precision Industry, known by its trade name Foxconn and as a key supplier of Apple Inc’s products, rose by 0.5 per cent rise in September.

tufo, an aged Italian cheese with an intense truffle flavor. Even Parmigiano Reggiano could be

The world’s largest contract electronics manufacturer reported revenues of T$587.79 billion (15.4bn pounds) in September, up from T$584.93bn from a year earlier, it said in a filing to the Taiwan stock exchange. Although only a slight yearly increase, the monthly

GPIC Labour Union elects new board members

TDT | Manama

The Gulf Petrochemical Industries Company ( GPIC ) elected a new seven-member board following polls conducted with 19 candidates in the fray.

The following were declared the winners: Tarek Ahmed Al Mazlouk (229 votes), Abdullatif Mohammed Shweiter (179 votes), Yacoub Youssef (156 votes), Elham Janahi (155 votes), Ghassan Abdullah Al-Rayes (153 votes), Yousef Mohammed Al-Bastaki (149 votes), Hamad Mubarak Al-Mubarak (144 votes).

Jamal Abdul Hamid Al-Kooheji (136 votes) and Adel Adnan Al-Mirbati (120 votes) were elected as reserve members.

Officials and board members following the election

Representatives of the Bahrain Free Trade Union Federation, its Vice President and Assistant Secretary General Basim Siyadi, were present. In a statement, Gulf

revenue figure was pany’s highest for Taipei-based which manufactures of Apple’s iPhones for sale in the United faces challenging ahead as Washington impose additional Chinese imports, smartphones. The sales update Apple launched its iPhone models in and cut the starting In the second quarter, conn posted a 2.5pc drop, a slightly than analysts expected. Foxconn is already weak global demand electronics devices, forced it to consider $8.8bn display panel in China.

Trump suspends entry of immigrants who cannot healthcare

Reuters | Washington

US President Trump on Friday a proclamation entry of immigrants will not be covered insurance within entering the United or do not have to pay for their costs themselves. The proclamation, by the White House, would not affect vidual’s eligibility lum or refugee measure will take Nov. 3, it said. The Trump tion said last it planned to 18,000 refugees in the United States.

Petrochemical Industries Company

President Dr Abdulrahman Jawahery congratulated the winners and applauded the success of the voting process.

Max Becker works with imported European cheeses stored at the Bowers Fancy Diary Products shop in Washington’s Eastern Market. - Reuters

Imported European cheese are seen stored at the Bowers Fancy Dairy Products shop in Washington’s Eastern Market several weeks before the Trump administration’s tariffs on EU cheeses

07 October 2019

of Bahrain Bourse, Sh. Khalifa rang the market-opening bell in the presence of CBB Governor Rasheed Al-Maraj

“We currently have 20 participating schools and 6 universities taking part in the program. As for the Smart Investor Program, we recently launched the 2nd edition of the programme in collaboration with INJAZ Bahrain, and reached out to 6,291 elementary students across 79 schools during its first year,” added Jamal. Bahrain Bourse’s collaboration with the BIBF is also offering various public courses as well as professional certifications related to the capital market under the Investment Academy. On his part, Dr Ahmed Al-Shaikh said, “The BIBF will provide training solutions on capital markets and continue its programmes under the umbrella of BIBF ’s Investment Academy.” Bahrain Bourse has joined 30 other global exchanges to mark the occasion over a week of bell-ringing activities. It is noteworthy that the “Ring the Bell for Financial Literacy” event is a global initiative by the IOSCO and the World Federation of Exchanges ( WFE ) to support the World Investor Week ( WIW ).

) host ed a bell-ringing ceremony on Thursday as part of its participation in the World Investor Week initiated by IOSCO and the World Federation of Exchanges. Chief Executive Officer of Bahrain Bourse, Sh. Khalifa bin Ebrahim Al-Khalifa rang the market-opening bell in the presence of the Governor of the Central Bank of Bahrain Rasheed Mohammed Al-Maraj alongside 80 senior officials and executives from various stakeholders. During the event, Chief Operating Officer of Bahrain Bourse, Narjes Jamal highlighted Bahrain Bourse’s ongoing efforts to enhance financial literacy which forms an important pillar of the Bourse’s strategy.” This year marks the 22nd edition of the TradeQuest Programme which targets high school and university students.

B ahrain Bourse (

IFM is one of the world’s leading financial publications with a readership in over 200 countries. The award recognises BisB’s commitment to delivering innovative digital solutions. Chief Executive Officer of BisB, Hassan Jarrar said, “Our approach continues to be about the end-user customer experience. We will strive to eventually achieve a proper eco-system for our customers to simplify their money matters.” BisB emerged as the winner of the “Most Innovative Islamic Bank –Bahrain 2018 ” last year in light of its efforts in innovation and digitization. Chief Executive Officer of BisB, Hassan Jarrar

TDT | Manama

Bahrain Islamic Bank (BisB) has emerged as the winner of ‘‘Most Innovative Digital BankBahrain 2019” category awarded by International Finance Magazine ( IFM ).

GPIC receives Dubai Chamber CSR Label Award for Excellence

grammes in community service and sustainability. The award by the Business Ethics Centre was presented during a ceremony in Dubai in the presence Chamber Chairman Majid Saif Al Ghurair, heads of companies, institutions and businessmen. It recognises GPIC ’s corporate compliance with sustainable global best practices in the service of the environment and society. Dr Jawahery said, “I hope the GPIC ’s leading role in the field of social responsibility will inspire other companies and institutions to take more initiatives to reach out to their communities.” The centre has so far awarded 359 companies in the areas of the workplace, market, environment and the local community. This year, 33 organisations received the award. These include four companies that have won the advanced brand recently developed by the chamber.

• This year, 33 organisations received the award TDT | Manama

The award by the Business Ethics Centre was presented during a ceremony in Dubai

The Gulf Petrochemical Industries Company ( GPIC ) has won the Dubai Chamber CSR Label Award for excellence in delivering innovative pro -

CEO

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said. The draft also forecasts an unemployment fall to 15.6 percent from 17.4 percent this year, the finance ministry said. EUIMF creditors want Greece to pursue economic and fiscal reforms and privatisations and achieve primary budget surpluses

which exclude government debt interest payments

worth

3.5 percent of GDP in the coming years.

Prime Minister Kyriakos Mitsotakis wants to renegotiate this target with the creditors -but has agreed to retain it in 2020 to the tune of 3.56 percent, the ministry said. As Greece recovers from a six-year recession and a nearly decade-long debt crisis, the economy remains fragile. Emerging from its third straight bailout last year, it has a public debt of more than 180 percent of gross domestic product.

(Courtesy of Washington Post)

Traders on the floor of Saudi Stock market

• Abo Moati, Al Aseel jump on potential move to main index

• Financials boost Dubai, Etisalat buoys Abu Dhabi

trading since the central bank governor said Cairo was in talks with the International Monetary Fund ( IMF ) on further assistance to help it carry out structural reforms. Egypt’s current $12 billion three-year IMF program ends next month. Commercial International Bank gained 1.6pc and El Sewedy Electric rose 4.2pc. Iron Steel jumped 5.5pc while Ezz Steel soared 18.1pc, its sharpest single-day percentage gain since March 2016.

A delegation of heads of companies and senior officials from South Korea, now visiting the Kingdom of Bahrain, was welcomed at the Gulf Petrochemical Industries Company (GPIC), where they learnt about its operations and products. Plants Operations Manager Khalid Al-Binali gave them a briefing on GPIC’s work systems, its operations and high-quality products, exported to the world’s largest markets. GPIC President Dr Abdulrahman Jawahery stressed the visit, organised by the Bahrain Chamber of Commerce and Industry, would strengthen closer bilateral relations in the important strategic area. The visiting delegation toured the environmental projects within the complex as well as charity fish farm and bird sanctuary. Aerospace deal

Egypt has lowered the domestic price of gas for the cement industry to $6 per million Btu from $8 and to $5.50 per million Btu for metals and ceramics sector from $7. Saudi Arabia’s benchmark index dropped 1.1pc as Al Rajhi Bank fell 1.1pc and Riyad Bank shed 2.8pc. Saudi Advanced Industries plunged 7.8pc, its biggest intra-day fall since November 2017. The firm said an agreement for the sale of its 10pc stake in Alsalam Aerospace Industries approvals to move their listing onto the main index. Qatar’s index slid 0.1pc. The Gulf’s largest Insurer, Qatar Insurance, dropped 2.1pc, while Commercial Bank eased 0.9pc. In Dubai the index rose 0.8pc, extending gains for a third straight session, boosted by advances in banking shares. Dubai Islamic Bank increased 1.9pc, while Mashreq Bank soared 13.6pc after the lender said its board would approve the third-quarter results next week. Abu Dhabi’s index also edged up 0.8pc. Emirates Telecommunications Group, which uses Huawei’s 5G technology, advanced 1.4pc. On Sunday, the chief technological officer of Emirates Integrated Telecommunications said that it saw no evidence of security concerns about Huawei’s 5G technology. The United States had raised its concerns with Gulf allies over a possible security risk in using Huawei technology for their 5G mobile infrastructure. Closing

• The United States had raised its concerns with Gulf allies over a possible security risk in using Huawei technology Reuters

Egypt’s blue-chip shares rose sharply yesterday, boosted by financial shares amid talks over possible further assistance from the International Monetary Fund ( IMF ), while banking shares dragged down Saudi stocks. Egypt’s blue-chip index rose 1.5 per cent in its first day of

New 2020 Nissan Patrol rolls into Bahrain

TDT Manama N

issan Bahrain unveiled the new 2020 Nissan Patrol at the Bahrain Financial Harbour after an exclusive product presentation event at Capital Club. The launch was attended by the YK Directors Mohammed Almoayyed, Aysha Almoayyed, Jawaher Almoayyed. Japanese Ambassador, Hideki Ito, YK Management CEO Alok Gupta and the General Manager of Nissan Bahrain, Anas Abdulla Mohamed Yahya were present. From Nissan Middle East, Thierry Sabbagh, the Managing Director, Adib Takiedine Director Sales, Mr Rahul Mahajan Deputy General Manager Sales were also present. The new Patrol features striking new design enhanced luxury features and the latest advanced During the launch of the new 2020 Nissan Patrol at the Bahrain Financial Harbour

15 December 2019

to His Majesty King Hamad bin Isa Al Khalifa, His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Deputy Supreme Commander and First Deputy Prime Minister and the People of the Kingdom of Bahrain on the occasion of the 48 th National Day

The Chairman, Members of the Board of Directors, Executive Managment and Employees of Gulf Petrochemical Industries Co.