Latest news with #Bahrain
Al Arabiya
2 hours ago
- Business
- Al Arabiya
Britain signs $2.7 bln investment partnership deal with Bahrain
Britain said on Friday that it signed a new partnership with Bahrain that will see 2 billion pounds ($2.69 billion) of investment into financial services, clean energy, manufacturing and technology. 'This 2 billion pounds commitment is yet another major vote of confidence in the UK economy, backing the key growth sectors we've identified in our upcoming modern Industrial Strategy,' business minister Jonathan Reynolds said in a statement. ($1 = 0.7424 pounds)
Reuters
3 hours ago
- Business
- Reuters
Britain agrees $2.7 billion investment partnership with Bahrain
LONDON, June 20 (Reuters) - Britain said on Friday that it signed a new partnership with Bahrain that will see 2 billion pounds ($2.69 billion) of investment into financial services, clean energy, manufacturing and technology. "This 2 billion pounds commitment is yet another major vote of confidence in the UK economy, backing the key growth sectors we've identified in our upcoming modern Industrial Strategy," business minister Jonathan Reynolds said in a statement. ($1 = 0.7424 pounds)
Daily Tribune
7 hours ago
- Sport
- Daily Tribune
Bahrain fall short against Egypt in U21 World Championship
Bahrain's struggles continued at the IHF Men's U21 World Championship in Poland yesterday, falling 28–19 to a well-drilled Egypt side in Kielce. The result, Bahrain's second defeat in as many games, leaves them without a point heading into their final group fixture against Saudi Arabia. Another slow start proves costly Coming off a bruising 40–19 loss to Spain in the opener, Bahrain approached this match with greater structure and defensive intent. But Egypt's cohesion and physical presence quickly tilted the game in their favour. Bahrain briefly kept within reach in the first half, but Egypt's control of the tempo and cleaner execution in both phases of play allowed them to steadily build a lead. The North Africans moved the ball well through their backcourt and punished turnovers in transition. Bahrain, meanwhile, found chances difficult to come by, with Egypt's defence closing space and forcing long-range efforts. Despite periods of effort and urgency, Bahrain simply lacked the consistency to mount a sustained challenge. All eyes on Saturday With two losses from two, Bahrain now turn their attention to a crucial third group stage match against Saudi Arabia on Saturday (12:45pm Bahrain time). It's a fixture that carries added weight—not only because of regional rivalry, but because a loss would confirm Bahrain's drop into the President's Cup bracket, which ranks teams from 17th to 32nd place. For Ali Al Falahi's team, it's an opportunity to salvage momentum and potentially end the group phase on a positive note. The likes of Ali Redha and Mohammed Ayyad have shown flashes of attacking potential, while Elyas Mohammed and Sayed Mahmood Ali continue to put in work across both ends of the court. But Bahrain will need more from its supporting cast if they are to shift the narrative.
Zawya
8 hours ago
- Business
- Zawya
Texel in deal to expand aircraft MRO hangar units at Bahrain airport
Bahrain Airport Company (BAC), the operator and managing body of Bahrain International Airport (BIA), has signed an agreement with Texel Air, a specialist in air cargo and aircraft maintenance, for expansion of its aircraft maintenance, repair, and overhaul (MRO) hangar capabilities at the Bahrain International Airport. Under the terms of the MoU, Texel Air's operations at the Airport will be expanded through the development of a new 7,000 sqm Code C aircraft hangar, along with an additional 10,000 sqm of apron, maneuvering and taxiway area. The new facility is designed to accommodate up to three Code C aircraft or multiple ultra long-range business jets in a climate-controlled environment, providing specialized parking and maintenance conditions tailored to high-value private and corporate aviation, said BAC in a statement. This substantial infrastructure investment will significantly elevate Bahrain International Airport's capacity and standing as a premier regional aviation hub, it added. The MoU was signed by Jeffrey Goh, Chief Executive Officer of Gulf Air Group on behalf of BAC and George Chisholm, Executive Board Member of Texel Air, at the Paris Air Show, in the presence of Dr. Shaikh Abdullah bin Ahmed Al Khalifa, Minister of Transportation and Telecommunications. Speaking on the occasion, Dr Shaikh Abdullah reaffirmed the kingdom's steadfast commitment to advancing its ambitious strategy for the development of the civil aviation sector and the enhancement of related infrastructure, in alignment with the highest international standards. He pointed out that MRO was a key pillar of this strategy, given the sector's promising investment potential and its vital role in supporting Bahrain's comprehensive aviation ecosystem. He further noted that the expansion of advanced maintenance services at Bahrain International Airport strengthens the Kingdom's ability to attract high-quality investments and contributes meaningfully to the national economic diversification agenda. Dr Shaikh Abdullah also highlighted the partnership with Texel Air as an exemplary model of public-private sector collaboration in developing aviation services - reinforcing Bahrain's position as a flexible and efficient regional logistics hub. Gulf Air Group Chairman Khalid Hussain Taqi said this MoU embodies the Group's long-term vision of creating valuable and sustainable opportunities for private sector partners and investors. "This initiative will undoubtedly contribute to supporting the national economy through strategic investment in the Kingdom's aviation infrastructure. Our partnership with Texel Air is crucial. It stands as a truly successful model of effective collaboration. As a Bahraini company with a prominent regional impact, Texel Air's growth trajectory at Bahrain International Airport perfectly aligns with the Group's vision to foster a flexible and attractive environment for air cargo and aircraft maintenance and repair activities," he stated. Goh said: "BAC is committed to supporting investors at Bahrain International Airport and enabling their commercial expansion and business growth, a core part of BAC's strategy to enhance private aviation operation. Supporting the logistics sector is an urgent necessity for diversifying airport services and solidifying the kingdom's position as a regional aviation hub." "Texel Air is a strategic partner that actively contributes to the air cargo and aviation ecosystem at Bahrain International Airport. Significantly, this expansion reflects investor confidence in the airport's capability to support various services and operations," he stated. On the deal, Chisholm said: "This investment reflects Texel Air's long-term commitment to the Kingdom of Bahrain as a strategic base for both commercial and corporate aviation. We're proud to work alongside BAC to build infrastructure that meets the evolving needs of the region." This substantial infrastructure investment will significantly elevate Bahrain International Airport's capacity and standing as a premier regional aviation hub.
Arab News
13 hours ago
- Business
- Arab News
UK and Bahrain sign defense pact and £2bn investment deal
LONDON: Bahrain and the UK finalized two major agreements on Thursday during an official trip to London by Crown Prince Salman bin Hamad Al-Khalifa. During a visit to No. 10 Downing Street for talks with British Prime Minister Keir Starmer, the prince and his host oversaw the signing of a Strategic Investment and Collaboration Partnership, SIP2 for short, said to represent a renewed framework for two-way investment between their countries. The agreement will enable £2 billion ($2.7 billion) of investment by Bahrain's private sector in key UK sectors including financial services, technology, manufacturing and decarbonization, officials said. It was signed by Bahrain's finance minister, Sheikh Salman bin Khalifa Al-Khalifa, and the British chancellor of the exchequer, Rachel Reeves. The second deal was a Defense Cooperation Accord which, according to officials, aims to enhance interoperability and joint training between the nations' armed forces, building on the foundations of an already strong naval partnership. It was signed by defense ministers, Lt. Gen. Abdullah Al-Nuaimi and John Healey. During his discussions with Starmer, Prince Salman reaffirmed the strength of relations between their countries, which he said continues to grow under the leaderships of King Hamad and King Charles, the Bahrain News Agency reported. The leaders reviewed progress on a proposed UK-Gulf Cooperation Council free trade agreement, and the crown prince welcomed the UK's decision to fully participate in the Comprehensive Security Integration and Prosperity Agreement, following a joint invitation in December from founding signatories Bahrain and the US. Regional and wider international developments featured prominently in the discussions between Prince Salman and Starmer, who both expressed concern about the recent escalation of hostilities between Israel and Iran. They agreed on the urgent need to deescalate the conflict, ease tensions and resume dialogue. They also reiterated previous calls for an immediate ceasefire agreement in Gaza, unimpeded humanitarian access to the territory, and the release of all hostages still held by Hamas. Starmer congratulated Bahrain on its recent election as a nonpermanent member of the UN Security Council for a two-year term beginning in January 2026, and both leaders agreed to work closely to bolster their diplomatic efforts in the run-up to that.
