Bahrain Financial News

Hasan Yazdani expectedly proved too good for Deepak Punia, who settled for a silver after losing by technical superiority to the Iranian legend in the men’s 86kg category as India’s wrestling campaign concluded at the Asian Games here on Saturday with six medals but without a gold.It was the second time that Deepak found himself up against his childhood idol Yazdani, the two-time Olympic medallist and eight-time World Championship medallist.

Jumeirah Group aims to double its property portfolio by 2030 and is 'keen' on opening a luxury hotel in India, a top company official said on Wednesday. Jumeirah Hotels and Resorts is a Dubai-based luxury hotel chain, which currently owns 27 hotels across the world, including 12 hotels in the United Arab Emirates, said Kirti Anchan, General Manager of Jumeirah Emirates Towers. «We are on a growth path and we want to double our property portfolio by 2030.

dialysis chain, NephroPlus, valuing the chain at '1,800-2,000 crore ($200-250 million). The US-based Bessemer Venture Partners (BVP) and the World Bank's lending arm International Finance Corporation (IFC) are exploring the sale of about 30% stake in NephroPlus, said multiple people aware of the development.

Parul Chaudhary and Priti secured silver and bronze medals respectively in the women's 3000m steeplechase but they were left chasing the shadow of Bahrain's Yavi Winfred Mutile, who set an Asian Games record on way to defending her title here on Monday. Parul clocked 9:27.63 seconds, which was more than nine seconds behind the Bahrain runner who took the top podium finish in 9:18.28, a new Games record.

The Abu Dhabi Global Market (ADGM) has granted Laser Digital, the digital assets arm of Japan’s Nomura Bank, in-principal approval to provide broker-dealer services and asset/fund management services with both digital and traditional assets, according to an ADGM communication on Sept. 26. 

Bahrain-based Bank ABC will use JPMorgan’s Onyx Coin Systems for blockchain-based cross-border payments in a soft, or limited, launch. The new service will be more cost effective and reduce settlement times relative to traditional solutions.

The I2U2 - Israel, India, UAE, and the United States - announced a new initiative on space cooperation this month on the sidelines of the UN General Assembly session in New York. The four-nation grouping, termed the “West Asia Quad" by some, has attracted attention in recent years. Mint looks at what I2U2 is.

C-295 transport aircraft of the Indian Air Force landed at Air Force Station, Vadodara, on Wednesday. The aircraft was flown by Group Captain PS Negi and landed today after taking off from Bahrain, news agency ANI reported quoting IAF officials. The aircraft would be formally inducted into the Indian Air Force by Defence Minister Rajnath Singh at a ceremony scheduled on September 25 at the Hindan airbase near Delhi.

Berkeley Earth, which focuses on environmental data science and analysis, said last month was the warmest August since records began to be kept in 1850, with «particularly warm conditions» prevailing in parts of India, Japan, North Atlantic, Eastern Equatorial Pacific, Northern South America, Central America, parts of Africa and the Middle East. The National Oceanic and Atmospheric Administration (NOAA), a US government agency, said on Thursday that 2023 witnessed Earth's hottest August in its 174-year climate record. The sizzling month also marked the northern hemisphere's warmest meteorological summer and the southern hemisphere's warmest meteorological winter on record, the NOAA's National Centres for Environmental Information said. Berkeley Earth said August 2023 exceeded the previous record set in August 2016 by 0.31 degrees Celsius, «a surprisingly large margin, well outside the margin of uncertainty». Its researchers said: «We estimate that 13 per cent of the Earth's surface experienced its locally warmest August average, and 87 per cent of the Earth's surface was significantly warmer when compared to its local average during the period from 1951 to 1980.» In total, they estimated that 65 countries (mostly in the tropics) witnessed their warmest August on record. These countries include Bahrain, Barbados, Brazil, Cambodia, Cameroon, Chad, China, Colombia, Cuba, Iran, Iraq, Japan, Kenya, Mexico, Morocco, Niger, Panama, Peru, the Philippines, Qatar, Russia, Rwanda, Saudi Arabia, Sri Lanka, Sudan, Suriname, Turkiye, Venezuela and Yemen. Some of these countries broke their August records by extraordinary margins.

Investcorp SA’s Jeremy Ghose is a popular man. Ever since the $50 billion firm snapped up alternative-credit manager Marble Point late last year, he’s been juggling calls from bankers and firms pitching similar deals.

U.S. News & World Report's annual Best Countries rankings. This marks Switzerland's second consecutive year at the pinnacle and its sixth time overall as the No.

Disney+ Hotstar has announced a new Tamil original called MY3 directed by M Rajesh starring Hansika Motwani, Shanthnu, Mugen Rao and Ashna Zaveri that will premiere on 15 September. Video streaming platforms are likely to offer 50-60% of the budgets to southern language content, with these programmes seeing much traction, accounting for 30% of OTT viewership, said industry experts.

Global investment manager, Investcorp sold its stake in luggage maker Safari Industries, the company announced on Wednesday. It realised a total return of Rs 285 crore at 3.8X Multiple on Invested Capital (MOIC) from Safari Industries, the Bahrain-based company said in a statement. «The Internal Rate of Return (IRR) on the complete deal stood at 102 per cent,» it added. It made partial exits in the company in three tranches, the third and final one on Wednesday. In February 2023, it sold a 1.89% stake in luggage maker Safari Industries for ₹83.7 crore marking the second tranche post which it held about 300,000 shares.

Israel’s prime minister is floating the idea of building infrastructure projects such as a fiber optic cable linking countries in Asia and the Arabian Peninsula with Europe through Israel and Cyprus

Reuters, certain inhabitants of Dharavi mentioned that the billionaire's financial difficulties have added to their apprehensions. Adani's redevelopment plans face a new challenge in the form of a legal dispute presented by competitor SecLink Technologies Corporation.

JERUSALEM/TRIPOLI (Reuters) — Libya's prime minister suspended Foreign Minister Najla Mangoush on Sunday and referred her for investigation after Israel said its Foreign Minister Eli Cohen had met her last week despite the countries not having formal relations.

Dubai-based cryptocurrency exchange BitOasis has secured a round of funding from a group of investors, including Indian digital-asset platform CoinDCX. 

Source: Binance

Mint in an exclusive interview. “Earlier, the Indian airports were merely destination airports, but today we find a rising trend of people flying from one part of the world and come to Delhi, Mumbai, Hyderabad, and Kolkata, and take another onward flight without really exiting into any Indian city. That trend is increasing," Vinay Malhotra, head of global sales at IndiGo, said.

(Reuters) — Roark Capital snapped up Subway in a $9.55 billion deal, sources said on Thursday, after it outbid several private-equity groups.

Also read: Bahrain Steel to supply iron ore pellets to Essar's green steel project in Saudi Arabia For years, Iran and Saudi Arabia had been engaged in a bitter rivalry for influence in various Middle Eastern countries. Rivalry between Iran's revolutionary, Shi'ite Muslim leaders and Saudi Arabia's Sunni ruling family dominated the Middle East. This rivalry had led to sectarian tensions and conflicts in Iraq, Syria, Lebanon, Yemen, and Bahrain.