Day: March 28, 2023

Export Bahrain announced its support for easing the signing of a strategic partnership between Lumofy, a digital learning platform based in Bahrain, and Lisan, an AI writing platform based in the UAE, on the sidelines of the Biban Global 23 Forum, which was held in Riyadh, Saudi Arabia, by the Small and Medium Enterprises General Authority (Monsha’at) from March 9 to 13, 2023.

According to this strategic partnership, Lumofy and Lisan will develop a unique and first-of-its-kind tool utilizing AI to generate Arabic content and provide seamless training content to corporations that suits local clients’ needs. This cooperation will open doors on a level unparalleled in this dynamic and growing sector. Clients who are in search of customized content will be able to develop it with Lumofy and Lisan AI tools, creating exceptional interactive courses of high quality with the ability to download, manage and share them easily along with creating quizzes while making content accessible anytime, and anywhere to deliver tailored learning experiences that fuel business growth.

Export Bahrain successfully took part in the Biban Global 23 Forum. Ten companies from Bahrain joined Export Bahrain in its pavilion, which attracted more than 10,000 visitors, showcasing the Bahraini companies’ services and solutions, Export Bahrain offerings, discussing cooperation and growth opportunities in various markets around the globe, and shedding light on "Made in Bahrain" success stories.

With the tremendous exposure of the Export Bahrain Pavilion, the Bahraini companies inked more than eight deals worth more than 10 million USD, in addition to promoting multiple Bahraini products and services to hundreds of companies and investors from around the world.

On this occasion, Mr. Ahmed Faraj, the Founder and Chief Executive Officer of Lumofy, commented.

It’s worth noting that Lumofy was founded in 2020 as a digital learning platform aiming at bridging the gap between required skill sets and business objectives with competency-based learning experiences to change the way organizations connect their efforts and drive greater impact.

Lumofy has also achieved several notable milestones, most recently being selected by HolonIQ for the 2nd consecutive year as a part of the annual list of the most promising EdTech startups in the Middle East and North Africa in 2022. Furthermore, Lumofy has also been awarded the most innovative scaleup framework for SMEs in the Kingdom of Bahrain at the 2022 International Finance Awards.

Lumofy has acquired a wide range of prominent new clients as a result of its robust platform, which includes the National Bank of Bahrain, Tamkeen, Khaleeji Commercial Bank, Economic Development Bahrain, Assr Commercial Group, and GCC Lab.

Source: Bahrain News Agency

Multiple remains believed to be civilians massacred for collaborating with North Korea during the Korean War (1950-53) have been discovered in central South Korea, a state truth panel said.

The Truth and Reconciliation Commission said some 40 sets of remains presumed to be massacre victims were found on a mountain in Asan, South Chungcheong Province, 87 kilometers south of Seoul, South Korean News Agency (Yonhap) reported.

The commission speculates that the victims were local residents and their families who were killed by South Korean police and other perpetrators between September and November 1950 for aiding the North's military.

The remains, most of them believed to be sturdy men in their late 20s to early 40s, were buried densely in a trench 3 meters in width and 14 meters in length, the commission said.

They appeared to be buried shortly after being shot with both hands tied, it said, adding many A1 and Type 99 rifle bullets and cartridges were also found at the burial site.

In 2018, the Asan municipality discovered 208 sets of remains -- 150 adults and 58 children -- at a nearby site.

The commission estimates that about 800 civilians were massacred in the Asan area during the war.

Source: Bahrain News Agency

fans looking to test their driving skills or simply enjoy a fun motor racing experience are in for a treat this Ramadan at Bahrain International Circuit’s (BIC) world-class grassroots motorsport facility in Sakhir.

Throughout the holy month, Bahrain International Karting Circuit (BIKC) is offering discounts of up to 25 per cent off on its hugely popular Arrive-and-Drive sessions.

From Sundays to Wednesdays, karters can avail of a 15 per cent price reduction for a single session, and 25 per cent when booking two sessions. Each session is 15 minutes apiece.

These are fantastic deals for Arrive-and-Drive, which is one of the most widely participated daily offerings at BIKC.

In this activity, both kids and adults alike can get into a kart and take it out for a spin along the 1.414-kilometre CIK-FIA world championship-level track.

Children aged seven to 12 years old and of a minimum height of 125cm can suit up and get behind the wheel of BIKC’s 7hp kids’ karts, while teens and adults are able to enjoy the thrills of driving 9hp and 13hp karts.

BIKC is open to the public every day during Ramadan from 7pm to 1am.

Source: Bahrain News Agency

Information and eGovernment Authority (iGA) Chief Executive, Mohammed Ali Al-Qaed, held a meeting with Mr. Mirza Asrar, CEO and Founder of CTM360, the cybersecurity company.

The meeting was held during iGA’s Chief Executive visit to the company’s headquarter in the Kingdom of Bahrain to explore and view the CTM360 cybersecurity and ICT solutions which have been operating in the Kingdom to reinforce the security levels of the government systems for many years.

During the meeting, Mr. Mohammed Al -Qaed congratulated CTM360’s CEO on the company's achievement in being recognized by Frost and Sullivan for enabling technology Leadership in the Global Digital Risk Protection industry. Mr. Al-Qaed expressed his sincere wishes for the company and all its members for continuous success at regional and international levels.

iGA Chief Executive praised CTM360 for their business development in the Kingdom of Bahrain and beyond regionally and internationally , mainly in the ICT and cybersecurity field, highlighting the supportive environment, ICT infrastructure readiness and supportive legislations in the Kingdom of Bahrain provide to the ICT sector that contributed in attracting investments and international organizations to establish their businesses in Bahrain.

Mr. Al Qaed also stressed that iGA is keen to strengthen cooperation with the private sector to reinforce the government services and job creation in the Kingdom in line with the wise leadership directives. He also expressed his appreciation to CTM360’s interest in Bahraini youth employment in the ICT field. Moreover, Mr. Al Qaed pointed to the importance of public-private partnership in the digital transformation processes of the Kingdom, which will contribute to providing high-quality services for the citizens and residents.

Al Qaed concluded the meeting by praising the company's services and its matured systems that provide advanced protection against cyber-attacks to the organizational systems.

Source: Bahrain News Agency

Jordanian Prime Minister, Dr. Bishr Al-Khasawneh, met today with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud Basso, who is currently visiting Jordan.

During the meeting, the two sides discussed the partnership relations between Jordan and the European Bank for Reconstruction and Development.

They also highlighted the projects and investments that the bank intends to implement in Jordan, especially in the fields of energy, water, clean energy and the green economy.

Source: Bahrain News Agency

The shareholders of BBK on Tuesday approved the financial statement of the financial year ending December 31st, 2022. The AGM was chaired by Murad Ali Murad, Chairman of the board and attended by the bank’s shareholders, board members and the members of the executive management.

During the AGM shareholders approved the payment of cash dividends of BD40.9million or equal to 25 fils per share and stock dividends of 5% per share equivalent to 5 shares for every 100 shares held for 2022.

The shareholders also approved the bonus shares of BD8.1million, the exceptional one-time cash dividend of 5 fils per share for shareholders marking the celebration of BBK’s 50th anniversary.

"BBK’s strong performance during the year once again demonstrated the Group’s ability to withstand challenging economic cycles as well as its commitment to achieving the targets outlined in the new 2022-2024 strategy, which places even greater emphasis on sustainability," Murad Ali Murad, told shareholders.

BBK achieved a net profit attributable to the owners of the Bank of BD 64.4 million in 2022, a 21.3% higher than 2021. The basic and diluted earnings per share reached 39 fils during 2022 compared to 32 fils during 2021. The shareholders’ equity attributable to owners of the Bank stood at BD 596.3 million at the end of 2022 compared to BD 542.8 million at end of 2021. The increase in net profit was mainly attributable to increase in net interest income by 24.1% comparing to previous year to reach BD 102.5 million during 2022 as a result of active balance sheet management followed by the Bank, in response to interest rates hikes during the year. On the other hand, the net provision charges increased from BD 2.9 million to BD 8 million due to the Bank’s prudent risk management approach, and to strengthen the Bank’s financial resilience given the challenging economic environment.

"The year 2022 was a landmark year that saw the Bank celebrate its Golden Jubilee and achieve net profit growth of 21.3 percent. This solid performance and the steady improvements to the Bank's operations reflect BBK’s clear vision, robust business model, and adaptive strategies, as well as the high standards of professionalism among our team," Murad Ali Murad, added.

"The top-line growth comes on the back of rising interest rates, strong liquidity, and digital transformation initiatives that have helped the Bank to enhance its services and better manage expenses. The contribution from our subsidiaries and overseas branches were also key to our financial success this year.

The banking industry has evolved, market conditions have fluctuated, and customers’ expectations have shifted significantly over the past five decades, however, BBK’s commitment to delivering innovative services and contributing to Bahrain's economic and social growth remains steadfast."

Source: Bahrain News Agency

His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, today visited the majlis of the Al Asfoor family, the majlis of Faisal Hassan Jawad, and the majlis of the Al Zayani Family.

His Royal Highness highlighted Team Bahrain’s ambitious efforts in turning global challenges into achievements across various sectors, in line with the vision of His Majesty King Hamad bin Isa Al Khalifa.

HRH the Crown Prince and Prime Minister exchanged Ramadan blessings with the hosts and guests of the majlises.

His Royal Highness noted the importance of Ramadan majlises in further bolstering societal bonds over generations amongst Bahraini families and residents.

HRH Prince Salman bin Hamad went on to note that the positive economic indicators that have been witnessed recently reflect Bahraini citizens’ determination to achieve the goals of the Kingdom’s Economic Recovery Plan, aimed at enhancing the Kingdom’s long-term economic sustainability to benefit citizens.

His Royal Highness further highlighted that the positive economic indicators were also achieved through the constructive cooperation between the public and private sectors, forming an economy that delivers to Bahraini citizens. In this regard, His Royal Highness stressed the importance of further strengthening public-private partnerships for the Kingdom’s competitiveness and investment attraction.

In light of the technological advancements witnessed across the Kingdom, HRH Prince Salman bin Hamad emphasised the role of artificial intelligence in improving the efficiency and delivery of quality jobs and services to citizens across various economic sectors.

For their part, the majlis hosts and guests expressed their gratitude to HRH the Crown Prince and Prime Minister for the visit. They concluded by celebrating His Royal Highness’s noble engagement with Bahrainis in their Ramadan majlises across the Kingdom and wished the Kingdom continued progress and prosperity under the leadership of His Majesty the King.

During the majlis visits, His Royal Highness the Crown Prince and Prime Minister was accompanied by the Chairman of the Board of Trustees of the Isa bin Salman Charity Educational Charitable Trust, His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, HH Shaikh Mohammed bin Salman bin Hamad Al Khalifa, the Minister of Finance and National Economy, HE Shaikh Salman bin Khalifa Al Khalifa, and several senior officials.

Source: Bahrain News Agency

The Foreign Affairs Ministry summoned the Chargé d'Affaires of the embassy of Iraq to Bahrain Muayyad Omar Abdul Rahman and informed him of its regret and dissatisfaction with the repeated violations of diplomatic norms.

The Foreign Affairs Minister Dr. Abdullatif bin Rashid Al Zayani informed the Iraqi Chargé d'Affairs of the ministry's condemnation of his recent behavior that does not comply with diplomatic protocols and his diplomatic duties as Chargé d'Affaires of the embassy of Iraq in Bahrain.

He Stressed that it is an unacceptable interference in the internal affairs of Bahrain and contradicts the principles governing relations between states as per the Charter of the United Nations.

The minister handed the Iraqi Chargé d'Affairs an official letter of protest.

Source: Bahrain News Agency