Frasers Hospitality today opened its second property in the Middle East, Fraser Suites Dubai.
Earlier in March, Frasers Hospitality made its debut in the Middle East with the opening of the 91-unit Fraser Suites Seef, Bahrain in the kingdom of Bahrain. The opening of Fraser Suites Dubai will be followed in quick succession with the launch of Fraser Suites Doha and another three properties in this region over the next two years.
PESHAWAR/SUKKUR/KHAIRPUR – Fresh rains lashed flood-hit areas on Sunday, hampering aid efforts and threatening to further deepen the crisis affecting 15 million people in the country’s worst-ever floods.
Like other parts of the country, the devastating rains in Khyber Pakhtunkhwa continued further raising the scale of destruction and making more people homeless and causing loss of several lives.
Besides thwarting relief activities, the latest spell of rains starting since Friday evening continued unabated and the SundayÂ’s heavy downpour further exasperated the situation, bringing in more destruction and loss of precious lives.
Almost all the KP rivers including Kabul, Swat, Jaindi, Shahalam, Kurrum and Gambeela recorded high flood threatening villages along their banks. The Kabul River, which once again bulges out with outflow of 2,57,000 cusecs at Nowshera, according to the Flood Warning Cell-Peshawar, once again brought testing times to Nowshera Kalan wherein the water once again pumped into the locality already horrified by floods. Road connecting Charsadda and Nowshera were also closed for traffic once again.
The flow of Swat River at Charsadda was recorded 62,761 cusecs, while the river Panjkora flow remained high with 33,423 cusecs at Talash area of Lower Dir.
Ten more villages were inundated in Lakki Marwat as both Kurrum and Gambeela rivers sprawl into nearby localities. Eight people including a woman lost their lives in the floodwaters in the area, wherein in Taterkhel locality 25 more houses collapsed amidst the torrential rains and the floodwaters are entering Ummar Ada and Dattakhel area. In District Hangu, in the Zargari area six people lost their lives in a house collapse as about 30 houses were reported completely damaged.
The spell of intermittent rains in DI Khan for 12 hours have come to an end but once again left behind the masses to cope with the raising water level in the region. In Tehsil Kolachi, thousands of local population were stranded in flash floods waiting for rescue teams to evacuate them safe from the locality while the Mundra Bridge on Dera-Chasma road also collapsed in the wake of floods. Dera-Zhob road still remained closed for all kind of traffic.
In the farthest northern region of the province of Khyber Pakhtunkhwa the weather remained uncongenial to carry on relief and rescue activities and in Swat the affectees faced problems and the helicopter service had to be suspended causing break in supplying ration to Madyan, Kalam and Bahrain.
Charsadda once again faced the wrath of torrential rains where dozens of houses in Serdheri, Ibrahimzai, Tangi, Shabqadar and Charsadda city collapsed.
The raising water level in the river Kabul and Jaindi is once again posing threat to the area, particularly Shabqadar.
Besides reducing the day-to-day activities in Peshawar, the heavy rains also caused delay in scheduled flights from Peshawar Airport and the passengers were enraged for not getting substantive information from the authorities about the prospects of their boarding various flights to foreign countries from the airport.
The passengers on the airport also staged a protest demonstration against what they termed inefficiency of the authorities in managing flights to various destinations from Peshawar.
In Sindh, over 700 villages of katcha area of River Indus have been inundated in Khairpur during last three days and water level continues to swell. All the villages from Baberloi to Sagyoon about 150 km wide in taluka Khairpur, Kingri, Gambat and taluka Sonbhodero have been inundated.
DCO Muhammad Abbas Baloch, DPO Pir Muhammad Shah along with Army, Navy and other administrative officials visited the embankments along Jamshed, Faridabad, Ulra Jagir and reviewed the arrangements.
Government of Sindh has established 15 relief camps, 31 medical camps, 23 animal husbandry camps equipped with all facilities.
Rangers and irrigation officials are patrolling along sensitive points and army had made arrangements to protect spurs at Faridabad, Ularajageer and Jamshed Lope in Khairpur. The reports said floodwaters entered Goth Sommer Mallah at Jamshed Lope.
Over 30,000 people are likely to be affected by the potential flooding at embankment of Nusrat, Aqil Agani embankment and Puranaabad areas of Larkana while over 15,000 people has been evacuated to safer places in Khairpur and Larkana.
Bodies of two children also fished out near Kacho Bhindi near Ghotki.
Meanwhile, the upstream water flow at Sukkur Barrage was recorded as 11,17,000 the discharge reached at 11,06,000 cusecs. At Guddu Barrage, the inflow and outflow stood at 11,48,000 cusecs each, said the Irrigation Department sources.
The boundary wall of a Hindu saint ‘Sadhu Bella’, situated at an island in River Indus near Sukkur city, collapsed while the Rangers personnel removed four persons from the premises.
On the other hand, water burst out of the embankments as result of a 100 feet breach in BS Feeder after which the torrent submerged Indus Highway and was moving towards the populated area; but fortunately, most of the residents had already shifted to the safer place.
A three-feet hole in foundation of Larkana-Khairpur Bridge occurred on Sunday. Journalists said that the hole developed due to the non-compaction of silting.
NHA official when contacted said that the hole developed due to heavy downpour rather than technical fault, adding that it would be filled up once again by the authority.
Heavy rain lashed Larkana and its surroundings on 3rd day, damaging several government and private buildings including Chandka Medical College Civil Hospital, Shaikh Zaid Women Hospital, Pilot High School, Sambara Inn, Government Degree College, Shahnawaz Bhutto Memorial Library, District Council Office, Kausar Mill, Nazar Muhalla, Waleed Shaikh Zaid Colony, Ali Mohammed Colony, Gharib Abad and Lahori Muhalla.
Agencies add: Rescuers rushed to evacuate families in the poor southern farming belt of Sindh, where officials were readying for a deluge that could burst the banks of the swollen Indus River.
The high flood at the Guddu Barrage inundated dozens of villages in Ghotki, Shikarpur and Kashmore districts.
The Indus River overflowed its banks near Sukkur, submerging the village of Mor Khan Jatoi with chest-high water and destroying many of its 1,500 mud homes.
“We were strengthening the embankment ourselves to save the village but failed and it was breached this morning and water inundated the village,” said one of the affected villagers, Dadal Morai, who complained they have not received any government help.
Various villages were deluged when Bachal Shah Mayani Bund adjoining Sukkur Barrage breached.
Also in District Kashmore, Tori Bachao Bund fell apart, overwhelming over 15 villages adjacent to Ghauspur and Karampur.
Now, the floodwater is heading towards Ghauspur and Shikarpur, where the administration announced emergency situation.
RDM 45 Canal in District Dadu at Gaon Sahib Khan Khosa received 50-foot fissure, submerging under water at least four villages and hundreds of acres of agricultural land.
Administration, declaring Kati Jatoi Bund as sensitive, ordered the local people in the nearby villages to immediately evacuate.
Ghotki is witnessing high flood tide. Large number of the affected people is present at Qadirpur Lope bund, where intermittently lashing rains are posing hardships for them.
The water has sustained its pressure at the protective bunds of Nusrat, Aqil Agani and Paranaabad areas of Larkana.
Meantime, over 7,000 people stranded in catchments areas are being transported to safer locations.
Hundreds of people in Punjab were evacuated from drenched areas to a railway track on higher ground. A military helicopter was due to land to rescue them but could not due to poor weather.
“What we are wearing is all that we have, the rest is all gone – our house, animals, wheat we had stored, everything has been destroyed,” university student said Fiza Batool as she fed her 10-year-old sister biscuits.
The flooding has threatened electricity generation plants, forcing units to shut down in a country already suffering a crippling energy crisis.
PESHAWAR/LAHORE – Flash floods and landslides triggered by torrential monsoon rains have killed 467 people in Khyber Pakhtunkhwa, Punjab and Azad Kashmir.
At least 408 people died, 342 more injured, while hundreds of others are still missing as non-stop horrible monsoon rains, flash floods and land sliding brought disaster in Khyber Pakhtunkhwa, due to which, it remained cut-off from Punjab and rest of the country on Friday.
The number of casualties may increase, as it is feared that many people are still under the debris of the buildings and houses collapsed from the ruthless rains and flash flood waters. Districts of Nowshera and Charsadda were inundated completely. The current wave of flash floods caused by torrential and incessant rains for the past three days has caused deaths, washing of hundreds of mud houses in rural areas and displacement of tens of thousands of people in almost all districts of the province.
In addition, hundreds of people were stranded and rescue operations were continued in the disastrous localities for their safety. Telephone, sui-gas, electricity and water supplies were badly caused owing to floods and horrific rains. Telephone cables, water pipes and electricity poles were either damaged or washed away by the gushing merciless floodwater.
Moreover, the ill-fated affectees left their homes in hurry to escape for safer places, however, lost their near and dear ones, households, valuables things, cattle and almost everything, when suddenly water entered into their homes in different parts of the Khyber Pakhtunkhwa province. Apart from this, reportedly more than 1,200 schools and dispensaries in a similar number submerged in water. Similarly, thousands of houses were destroyed. Hundreds of affected families were shifted to schools, while many more got refuge with their relatives. The worst affected districts are Nowshera and Charsadda, where thousands of people are stranded so far. The flow of water remained high there as the Kabul River mainly passes from these two districts.
In Peshawar, a total of 14 people were reportedly killed, 90 injured while 110 were missing. Main roads leading to the provincial metropolis came under water, due to which, Peshawar remained cut off from rest of the districts of the province. Long queues of standing vehicles were also seen on roadsides, as flood waters inundated main GT Road and Motorway linking Peshawar with Islamabad and was closed down for all sorts of traffic. Almost two dozens low lying villages in Peshawar submerged in waters. The house of PML-NÂ’s central leader Iqbal Zafar Jhaghra was also flooded and damaged by flood waters in Jhaghra, in suburb of Peshawar. The Railway trick between Nowshera to Peshawar was submerged in waters. To assist affectees, a relief camp had been set up at government High No-1 School Peshawar, where at least 2,500 people were accommodated, for whom, a medical centre and free food arrangements had been made.
In district Nowshera, 26 people died, about 160 injured and dozens of others were missing. Aman Kot, Pabbi, Nowshera Kalan, Mohib Banda and Pashtun Ghari were the worst affected localities, where most of the people were surround by water; however, the Pakistan Army shifted them to safer places after rescue operation carried out. The historic Attock Bridge, which links Khyber Pakhtunkhwa with Punjab and onward to rest of the country was closed down and both the province remained cut off, as the bridge also went under flood waters.
Likewise in Swat, all communication links with other parts were broken after collapse of Ayub Bridge while flood water entered houses. Reportedly 130 people died, 26 injured only in Swat in rain and flood related incidents, most of the people died owing to over flowed canals, land sliding and stormy drainage nullahs in the district. So far around 3,000 affectees and 2,500 tourists were rescued by Pak-army teams in Swat. Four dead bodies were recovered under the Ayub bridge, while reportedly two brothers drowned at the bank of Swat River in Khawaza Khela.
In Shangla, the 20 stranded Chinese experts working in Khankhawar Power Project were saved by rescue teams. However, nine people died when roof of a house caved in at Kana area of district Shangla, while over 40 were stated to be missing, besides the Karakoram highway was closed down for traffic.
In Dir Lower, a total of 23 people died and many more injured while flood water washed away standing crops, orchards and cattle. Besides, many link roads and bridges were inundated in the three days rains.
In district Kohat the floods and rains killed at least 39 people, 25 others were injured. The famous Khushal Ghar bridge was washed away and at last the land route to Punjab from southern districts was disconnected.
In Dir Upper district, where rains also brought havoc as a total of 24 people were killed and 40 others were missing. Lighting killed 16 members of a family. Furthermore, more than 50 houses were destroyed in Gorkoi and Sheri Darra areas.
The flood waters killed five people in Malakand. Several houses were inundated while dozens of cattle were also killed and swept away in flood waters. Two children died in building collapse while 10 people including women were swept away in Charsadda. According to a rough estimate, near about 1 million people have been affected by flood in the district.
At least 49 people were killed as the spree of monsoon rains triggered major landslide in Olandar area of the Bisham. Rescue work has been started and 16 dead bodies have been recovered, while 33 were still buried under debris. Reportedly 2,500 people have been stranded in Madin, Kalam and Bahrain. Similarly, in district Battagram, as many as 17 members of a family lost their lives owing to land sliding in Pirbarai area of the district on Friday. In Swabi, four people were killed and several people were missing. At least three each died in Dera Ismail Khan and Lakki Marwat. Four and two people were killed in Mardan and Abbottabad districts respectively owing to rains and floods. Pak Army, Navy and Air Force have launched rescue operations in the flood-affected areas of Khyber Pakhtunkhwa and so far over 14,500 trapped people have been shifted to safer destinations. It was not possible to access several areas due to flood destruction. Some 17 helicopters are busy in relief work. Stranded and affected people expressed sorrow over the slow speed of relief work and rescue operation. Roads and different routes closed down due to land sliding in Naran, Kaghan and other northern parts of the province.
Two RCC bridges have been washed away / damaged on Battal Sathan Gali, Road District Mansehra and about 20 roads have also been damaged and the roads have been closed for all kind of traffic.
According to a notification issued here by Sub Divisional Officer, (Road-I) C&W Divn: Mansehra, Areh Bridge on Battal Sathan Gali Road in KM NO. 24 (near Sachan) 45-M Span have been washed away, while RCC Bridge on Battal Sahan Gali Road in near Malkian 22-M span has been damaged.
It has further been notified for all concerned that about 20 roads have also been closed on various reaches due to heavy rains/land sliding. The Roads included; Khawari Morbaffa Lassan Thakral road, Janglan to Sundar Road, Lassan Mohar, Phulra Matseri, Gali Gadda Khun Shakoora Road, Khawari Jenkiari Nanowa Road, Lassan Nawab Chappar Road, Safiada Banda Sydian Lund road, Malkian Helkot Road with link to Malookra, Janglan to Gali Borwala Road, Oghi Abi road, Oghi Battagram road, Shamdra Hawa Gali road, Sum Kander Road, Garwal Road, Kalwal Road, Nokot Baffa Road, Sum Alsari Road, Lassan Thakral to Garwal Road and Perhina Shergar Road i/c 4-Nos culverts.
The current spell of torrential rains and flood have killed at least 68 people and injured more than 100, besides affecting 70,610 villagers and damaging 156,090 acres standing crop across the Punjab province.
Provincial Relief Commissioner Ikhlaq Ahmad Tarar said most of the deaths were caused due to electric shocks and collapse of buildings. He said 18 were killed in Lahore while three each in Gujrat, Rajanpur, Sialkot and two each in Rawalpindi, Mianwali, Attock and one in Bhakkar.
Pakistan Army has been called in for meeting an eventuality on war footings in Mianwali, Sargodha, Khushab and Rajanpur districts, besides evacuation of marooned affectees by Army helicopters.
Provincial Relief Commissioner said 16 relief camps at Rajanpur, Mianwali and Khushab had already been established to accommodate the affectees. So far 959 houses have completely been damaged while 3,007 partially damaged, he added. He said 119 cattle head also fell prey to flood. He said an area of 280,312 acres in 206 villages of Rajanpur, Mianwali and Khushab was affected.
District Flood Control Centre warned that River Chenab is in medium flood. More than 70 localities with agricultural land have been inundated in Chiniot.
The water flow in Chenab was 188,000 cusecs at 10pm Thursday night and has risen to 225,500 cusecs on Friday morning.
Meanwhile, rain in Chenab was stopped on Wednesday evening and it was not raining till filing of this report.
According to Met data received on Friday, River Indus at Tarbela and River Jhelum at Mangla are in exceptionally high flood situation, while River Indus at Kalabagh, Chashma, and River Kabul at Nowshera are in very high flood situation.
River Jhelum at Rasul is in high flood. River Indus at Taunsa and Guddu and River Chenab at Marala, Khanki and Qadrabad are in low flood.
The water level at Tarbela Dam on Friday was 1522.85 feet while inflow was 710,100 cusecs and outflow 527,200 cusecs.
The water level at Mangla Dam was 1205.10 feet while inflow was 221,258 cusecs and outflow 186,590 cusecs.
Hundreds of homes and thousands of acres of cultivated land were destroyed in Azad Kashmir.
Twenty-five people have died in Azad KashmirÂ’s capital Muzaffarabad.
“We have not collected the complete figures from some districts and fear the number of casualties is much higher,” a spokesman said.
In Azad Kashmir, another 22 people were killed and more than 30 injured Thursday as dozens of houses collapsed due to heavy rains, said the AJK Prime Minister Sardar Attique Ahmed.
The army said it sent boats to rescue stranded people and army engineers were attempting to open roads and divert the waters from key routes.
The Karakoram Highway, which links Pakistan to China, was closed as rains washed away a bridge in Shangla district, also cutting off Gilgit-Baltistan from other parts of the country, media reports said.
CM House in Gilgit-Baltistan has been inundated in floodwater, forcing the Chief Minister to take refuge in a local hotel.
Unprecedented spree of incessant heavy downpour is continued in Gilgit-Baltistan, rendering adjoining areas cut off with other parts of country.
Our Monitoring Desk add: Floodwater entered in the power room of Jinnah hydropower project and inundated large area after the authorities broke the embankment of Jinnah Barrage, reported a private TV channel on Friday.
Local administration declared emergency in the area. The Punjab government said that the embankment was broken to save Mianwali city.
According to Met Office, 10,00,000 cusecs of water was expected to pass through the barrage late Friday night, which has the capacity of 950,000 cusecs. It is said that 80,000 cusecs of water had passed through the barrage in 1976.
The 96 MW Jinnah hydropower project is located right side of Jinnah Barrage, on Indus River about 5 km downstream of Kalabagh Town, 234 km from Islamabad.
163 Chinese engineers working on the project have been shifted to safe area.
PESHAWAR – The Government of Khyber Pakhtunkhwa on Thursday declared emergency in the province due to torrential rains and floods, which have claimed over 204 lives in addition to 26 deaths in other parts of the country. The KP government has also released Rs 100 million to cope with the situation in the province.
More than 400,000 people have been stranded due to floods in various parts of the province and most of the people have resorted to take shelter on rooftops.
The torrential rains across the province of Khyber Pakhtunkhwa caused more than 150 deaths and left a considerable number of people injured.
According to the metrological department, 274 millimetres rain was recorded in Peshawar, which broke the 34-year old record of torrential rains in the metropolitan city.
According to reports pouring into here, about 26 persons have been killed in the torrential rains and flash floods particularly in Punjab, Balochistan and Sindh.
The torrential rains flooded almost all the main bazaars, roads and residential areas of Peshawar. The floodwater entered residential areas of Nasirpur, Chugalpura, Budni, Qaziabad, Lakhar Kalay, Jugni, Takhtabad, Mithra, Patwar, Shahay, Mian Gujar, Larama, Shahi Bala and Choha Gojar and compelled the residents to leave their homes and save lives. So far 11 casualties have been reported in Peshawar district wherein seven people lost their lives in Qadirabad area due to caving in of roofs of the houses.
In district Nowshera Kalan, Azakhel, Khairabad and Pir Sabaq areas were inundated after the flood while people from Azakhel Refugee Camp rushed out of their localities to find safer places. The GT Road has been blocked for all kinds of traffic and so far 21 people are missing and four deaths have so far been confirmed in the district.
In district Charsadda, more than 100,000 people were reported to be stranded by floodwater and hundreds of houses, link roads and infrastructure was damaged amidst the torrential rains. Two rescue ships provided by Pak-Army proved insufficient to carry out the people of the area to safer places. DCO Charsadda Atta-ur-Rahman said that over hundred and thousands of people were rendered homeless.
In the districts of Swat and Shangla, the River Swat bulges out and swayed Bahrain, Madian, Matta, Kanju and Kabal areas. So far 41 persons have died in Kalam and 15 deaths were reported in Madian, besides damaging of a considerable number of houses, schools, dispensaries, mosques, shops and standing crops. Mingora Police Line was vacated, as water entered the city and damaged the bridge.
Communication through the Silk Route stopped as the bridge at Bisham-Shangla was damaged by gushing water and Gilgit-Baltistan was cut off from the rest of the country. A total of 110 people are missing in Swat and Shangla areas in various mishaps.
In district Upper Dir, 21 bridges, 13 schools and thousands of acre of cultivated land were flooded. 21 people so far have been reported to be dead in various mishaps. In Lower Dir eight people died while six bridges were damaged in the rains.
Three Chinese engineers along with Frontier Corps personnel went missing in Kohistan due to floodwaters. The 52 other Chinese engineers working on a hydroelectric project in the area were rescued.
In Kohat, so far 143 houses and several bridges have been reportedly damaged due to rains and floods. More than 40 houses were also damaged in Tehsil Bara of Khyber Agency. The road leading to Afghanistan has been closed at Jamrud due to floods.
In Dera Ismail Khan, the floodwater blocked the main Indus Highway for all kinds of traffic and cut off communication of Khyber Pakhtunkhwa with other southern parts of the country. More than 72 people were reportedly missing in southern districts of the province including Karak, Bannu and Lakki Marwat.
Meanwhile, addressing a press conference here at Officers Mess, Provincial Information Minister Mian Iftikhar asked the people of the affected areas to shift to safer places without any further delay. He said that Provincial Government was trying to cope with the situation with the help of Pak Army.
He appealed to the Federal and other Provincial Governments of the country as well as to the organisations engaged in relief activities to help extend aid to calamity-hit Khyber Pakhtunkhwa. He said that more than 400,000 people had been stranded in floodwaters across the province and taking them out with the help of helicopters was a difficult task due to uncongenial conditions.
Mian Iftikhar said that Chief Minister Hoti has issued funds for buying 50 boats on emergency basis and the Government was trying to buy the same from Karachi and fetch them to Peshawar through C-130 aeroplane.
The contours of a Saudi financial scandal become clearer
AT THE weekend, many Saudis speed across the 28km (17-mile) causeway joining their country to the more relaxed kingdom of Bahrain to enjoy a drink, a film, or “a pair of beautiful legs”, as one Bahraini delicately puts it. Sometimes, in their eagerness, they crash over the rails.
The financial traffic between the two countries also produced a terrible wreck last year—one of the worst in the history of banking in the Gulf. In May 2009 The International Banking Corporation (TIBC), a Bahrain bank owned by a venerable Saudi merchant family, the Gosaibis, defaulted on its obligations. The default was an early sign that its parent, the Ahmad Hamad Algosaibi & Brothers Group (AHAB), was in financial trouble. …
Michael Jackson’s brother Jermaine feels that converting to Islam would have saved the King of Pop’s life. Jermaine even said that his late brother should have left the United States. “I felt that if Michael would have embraced Islam he would still be here today and I say that for many reasons,†New Straits Times [...]
Ziyad Fekri Z. Omar has been appointed non-ED wef May 5
Work experience: Co-founder/CIO, Gulf One Investment Bank, Bahrain; founder, Compass Consulting, Bahrain/Compass International Financial
Banyan Tree Hotels & Resorts says it has terminated, its management contract for the Banyan Tree Al Areen resort in Bahrain with immediate effect.
Banyan Tree announced on 8 April its intention to terminate the contract as a next step to its earlier petition in March to wind up Al Areen Holding Company, the owner of the resort, for continuing breaches of the management contract.
A collection of 194 films from 41 countries will be screened in the seven-day Gulf Film Festival beginning Thursday.
The third edition of the GFF, organised by the Dubai Culture and Arts Authority, will open with Emirati film “City of Life”.
The 194 films being screened at Festival also include 81 world premieres, 33 Middle East premieres, [...]
Frasers Hospitality today opened Fraser Suites Seef Bahrain, the first of five properties to come on line throughout this region over the next two years.
The 19-storey property sets new standards for luxury accommodation in the Kingdom of Bahrain, with 91 one- or two-bedroom suites and three penthouses.
New Delhi, March 20: Nine telecom operators, including market leaders Bharti Airtel and Reliance Communications, have applied to participate in the auction of radio frequency spectrum for third generation (3G) telephony.
“Nine companies have applied for 3G,” a department of telecommunications (DoT) official said here Friday, the last day for submitting applications.
While Bharti, Reliance, Tata Teleservices, [...]
How successful are sporting comebacks?
AFTER a five-month absence to deal with his personal tribulations, Tiger Woods announced on March 16th that he would return to playing professional golf at this year’s US Masters tournament in April. Sports stars have had mixed fortunes when returning to competition after a break. This week Michael Schumacher, who raced a Formula One car for the first time after a three-and-a-half year retirement, finished sixth in the Bahrain grand prix. George Foreman spent ten years as a pastor before getting back in the ring to regain the world heavyweight boxing crown at the age of 45. But Bjorn Borg, almost unbeatable in his day, made an ill-advised comeback to the tennis courts, losing every match with his old wooden racquets against competitors armed with more modern equipment.
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The bizarre mechanics of a huge financial scandal
THE past two years have exposed plenty of untoward behaviour at the world’s financial institutions. But there has been nothing quite like the strange goings-on revealed in court documents filed in New York this month by one of Saudi Arabia’s most venerable business groups, the Ahmad Hamad Algosaibi & Brothers Company (AHAB).
From its roots in trading, farming and pearling, the Gosaibi family has since branched out, into shipping, property and finance among other things. Its Money Exchange division was set up in 1981 to handle migrants’ remittances from the kingdom. The group also owns a bank in Bahrain, the International Bank Corporation (TIBC), formed in 2002. …
SIA Engineering Company (SIAEC) says its special-purpose wholly-owned subsidiary, SIAEC Global Private Limited, has signed a Memorandum of Understanding (MOU) with Gulf Technics to set up and operate a facility in Bahrain for the maintenance, repair and overhaul (MRO) of aircraft.
Gulf Technics is a wholly-owned subsidiary of Mumtalakat Holding Company, the investment arm of the Kingdom of Bahrain, and a sister company of Gulf Air.
Upon signing of the MOU, both parties will work towards a Definitive Agreement to set up an MRO maintenance facility in Bahrain.
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SIA Engineering Company (SIAEC) says its special-purpose wholly-owned subsidiary, SIAEC Global Private Limited, has signed a Memorandum of Understanding (MOU) with Gulf Technics to set up and operate a facility in Bahrain for the maintenance, repair and overhaul (MRO) of aircraft.
Gulf Technics is a wholly-owned subsidiary of Mumtalakat Holding Company, the investment arm of the Kingdom of Bahrain, and a sister company of Gulf Air.
Upon signing of the MOU, both parties will work towards a Definitive Agreement to set up an MRO maintenance facility in Bahrain.
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Freedom is in decline in many places around the world
Political rights and civil liberties around the world suffered for the fourth year on the trot in 2009, according to the latest report published by Freedom House, an American think-tank. This represents the longest continuous period of deterioration in the history of the report. The number of electoral democracies dropped from 119 to 116, the lowest figure since 1995. Six countries were downgraded: Lesotho to partly free and Bahrain, Gabon, Jordan, Kyrgyzstan and Yemen dropped into the “not free” category. Around a third of the world’s population live in countries deemed not free, although over half of these live in China. In the Middle East and North Africa 70% of countries are not free. Still, freedom was on the march in 16 countries, notably in the Balkans, where Montenegro is now considered free, and Kosovo is partly free.
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