Latest news with #Bahrain-based
Gulf Weekly
2 days ago
- Entertainment
- Gulf Weekly
Bahrain in a new dimension
Bahrain-based shutterbug George Raphel has unveiled his first 3D photography exhibition, featuring 20 stunning pieces that pay homage to the kingdom. The showcase – Anaglyph Photography Exhibition: A Stereoscopic Journey into Bahrain's Soul – is currently open for viewing and is a tribute to what the 44-year-old has called home for the last 16 years. 'Through this exhibition I am trying to translate my feelings for this country,' the professional photographer told GulfWeekly. 'This my first 3D exhibition, and I believe it is the first time anyone has captured Bahrain in 3D. These images were taken between 2023 and 2025,' he added. 'Anaglyph is a stereoscopic technique that involves capturing two photographs using a specialised camera rig and then digitally superimposing them to create the final image. To view this image, special 3D glasses are required.' Some of the iconic monuments and heritage brought alive in the exhibition include the Bahrain Fort, the Khamis Mosque and the kingdom's maritime tradition. 'The black-and-white image of a dhow is my favourite, as it may evoke memories of my hometown in Kochi, Kerala, where there is also a boatyard near my house,' said the Juffair resident, who lives with his wife Hima Joy, Brainobrain Bahrain director, and daughter Olive, a grade six student of Bahrain Indian School. George fell in love with photography during his high school years. He decided to pursue a degree in the field, which catapulted his career. 'I pursued a degree in photography at Shari Academy in Mumbai. Following my graduation in 2005, I joined one of the leading publications in Dubai. 'In 2009, I was transferred to Bahrain, where I established my media production company in 2014. Our company specialises in commercial and corporate photography and videography services,' he added. Not one to rest on his laurels, George is currently engaged in the development of another series and aspires to exhibit it by the end of this year. The showcase runs at Downtown Rotana in Manama until August-end. Entry is free and visitors will be provided 3D glasses at the venue.
Daily Tribune
4 days ago
- Business
- Daily Tribune
Al Baraka to power Islamic Economy Summit
TDT | Manama Bahrain-based Al Baraka Group has been confirmed as a global partner of the 2nd Global Islamic Economy Summit, a major international forum on Sharia-compliant finance set to take place in Istanbul later this week. The event, which will run from May 30th to June 1st at the Istanbul Financial Center, brings together policymakers, banking leaders and economists under the theme 'Islamic Economics Strategies: Path to an Influential Global Economy'. The summit is expected to be inaugurated by the President of Türkiye, His Excellency Recep Tayyip Erdogan. Focus on ESG As part of its involvement, Al Baraka will support the launch of the new AlBaraka Islamic ESG Index, developed in collaboration with Spectreco. The index aims to integrate ethical finance standards with Islamic economic principles. Sessions during the summit will also include panel discussions on sustainable growth, Islamic entrepreneurship, central bank strategy, and social impact investing, reflecting a broad agenda aligned with the UN's sustainable development goals. Continuing a legacy Houssem Ben Haj Amor, Board Member and Group CEO of Al Baraka Group, said the bank's role in the summit reflects its longstanding commitment to shaping the future of Islamic finance. 'This sponsorship reinforces our mission to advance Sharia-compliant economic foundations across borders,' he said. Al Baraka Group operates through more than 600 branches in 13 countries, offering Islamic financial services to a population of nearly one billion.
Daily Tribune
4 days ago
- Business
- Daily Tribune
Raise opens investor doors
business TDT | Manama Bahrain's startup ecosystem is gaining traction with the return of 'Raise: The Art of Fundraising', a bootcamp designed to do what most founders struggle with: get them face-toface with investors. Now in its ninth cohort, Raise has opened applications for the next twoweek round of its investment readiness programme. Backed by The Labor Fund (Tamkeen) and delivered by Spring Venture Services in partnership with global VC firm Salica Investments, Raise goes beyond mentorship. It connects early-stage startups directly with investor networks across the MENA region, providing access to capital, industry leaders, and essential strategic guidance. Doors to capital The programme's track record includes eight completed bootcamps and 16 StartUp Bahrain Pitch events. Over 100 startups have benefited from tailored support in pitching, valuation, and deal negotiation. Standouts from previous cohorts, like DOO founder Ali Mohsen, credit the program for helping land funding and refine go-to-market plans. 'Raise was instrumental in refining our fundraising strategy and connecting us with investors,' he said. This time, selected startups will also join an exclusive Investor Mixer. The event places founders in front of key venture capital firms and angel investors, allowing for real-time feedback and potential deal flow. Bahrain's startup engine The initiative feeds directly into the national innovation agenda. In collaboration with the Ministry of Industry & Commerce, Bahrain Economic Development Board, and Bahrain Development Bank, the program culminates in a live pitch competition under the StartUp Bahrain Pitch Series banner. Winners walk away with milestone-linked cash prizes and ongoing support from Raise partners. Applications are now open via the programme's official website. For Bahrain-based founders with scalable ideas and big ambitions, Raise may just be the shortest route from pitch to funding.
Biz Bahrain
5 days ago
- Business
- Biz Bahrain
Bahrain's AI Sector Witnesses 17% Annual Growth, Paving the Way for Retail
Innovation Bahrain is experiencing a robust surge in artificial intelligence investments, with AI adoption in the retail and marketing sectors growing at an estimated 17% annually. This technological leap is helping redefine how businesses communicate with consumers, moving beyond traditional advertising to real-time, data-informed storytelling. The A&M Awards hosted by FancyTech spotlighted this transformation, honoring brands that have embraced AI-driven marketing innovation. While FancyTech played a supportive role in the event, its influence was unmistakable—pushing the boundaries of what's possible in digital marketing. FancyTech's end-to-end content platform allows brands to generate multiple creative variations using automated tools. For Bahrain-based marketers, this means achieving greater campaign diversity and speed without increasing costs. The impact is clear: brands are now able to test, adapt, and respond in ways that were previously impractical or expensive. 'Artificial Intelligence is a key pillar of Bahrain's Economic Vision 2030. We are empowering industries to adopt AI through national frameworks and training programs,' – Bahrain Economic Development Board. 'Marketing powered by AI helps brands break free from one-size-fits-all content. We're seeing the impact of hyper-personalization across the Gulf,' said William Li, CEO of FancyTech. Retail businesses across Bahrain are aligning their strategies with consumer expectations for relevance and immediacy. AI is empowering teams to deliver personalized messages that speak to specific demographics—on social media, web, and offline platforms. FancyTech's quiet but strategic presence is contributing to a growing ecosystem of innovation in Bahrain's digital economy. The awards also highlighted the efficiency gains that AI brings. Traditional production cycles are being replaced by streamlined, intelligent systems that reduce manual workload and improve creative agility. For smaller businesses and startups in Bahrain, this creates a level playing field—where quality content no longer depends solely on big budgets. As the country accelerates its national digital agenda, tools like those offered by FancyTech are becoming vital for staying competitive. The company's model of smart automation, paired with human insight, is setting a new standard in marketing execution. The A&M Awards revealed that Bahrain is ready—and already on its way—to becoming a beacon of AI-powered brand transformation in the region.
Mint
5 days ago
- Business
- Mint
Investcorp wins big from Citykart exit after co gets capital from A91, TPG
MUMBAI : Bahrain-based private equity firm Investcorp earned more than four times its investment after exiting value retail chain Citykart, which raised about ₹538 crore in its Series B funding round, led by TPG NewQuest and A91 Partners, through a mix of direct investment and share sales, a top executive said. Investcorp invested ₹75 crore in 2019 in the company's seed round and will now exit with about ₹280-300 crore, Citykart's co-founder Sudhanshu Agarwal told Mint in an interview. 'We undertook this entire process to give an exit to our investors. We are already cash-rich and have a healthy balance sheet, as we have been profitable since inception. While there may be some scope to raise a debt round later, there are no immediate plans to raise any further capital." TPG NewQuest - a secondary private equity platform for Asia within TPG, and growth-stage investor A91 Partners' entry marks a significant shift in the company's cap table, while existing investor India SME Fund continues to hold a minority stake. The company did not disclose any details of the valuation. Also Read: Pawfect Pet Foods taps Lincoln to raise $17 million for India launch, global push As per the terms of the deal, about ₹120 crore constitutes primary capital that will be used to accelerate the company's expansion plans, such as increasing store count and entering new product categories. The company has about 137 stores but plans to add another 40-50 every year. The remaining portion was reserved for secondary transactions. Typically, shareholders in a secondary transaction sell their stakes to other existing or new investors, and no new capital is injected into the company. Secondary transactions generally take place at a discount to the primary shares. Increasing stores 'We will be bringing in more stores in the areas where we are present and will also explore other neighbouring states. We've already started opening stores in various places such as Jharkhand, Orissa and Chhattisgarh... we will focus on a combination of fortification (strengthening presence in existing areas) as well as foraying into newer territories," Agarwal said. Beyond apparel, Citykart is also evaluating newer products like cosmetics. 'We are noticing that cosmetics has become very big in tier 2 and 3 areas. Our focus has always been on identifying product lines that are unorganised and then entering to make them organised and available through our stores," he said. 'So, we feel cosmetics is one field among 4-5 other categories where we feel we can really drive volumes and become more relevant for our customers." In FY24, Citykart reported an operating income of ₹628 crore, compared to ₹524 crore a year ago. It posted a profit of ₹11.94 crore, compared to ₹24 lakh in FY23, according to a Crisil ratings report in August. Agarwal further said the company reported revenue of ₹950 crore in FY25 and expects to reach about ₹1,300 crore in the current financial year. Citykart will also tap the public markets to further unlock value for its shareholders, but it aims to at least double its scale before considering a listing, he said. Also Read: CPPIB's India portfolio touches $22 billion in FY25 He attributed the increase in revenue and improved profitability to better same-store sales growth (SSSG) over the last two years. 'We did some surveys of customers visiting our stores as well as other nearby markets and retailers, and we realised that they are very value-conscious. We understood that increasing the average selling price won't work as they are looking for more offers and promotions," Agarwal said. Customer feedback 'We made some changes based on these observations, and we saw nearly 70% of our customers come back. Beyond price conscious, it also became clear that it is a volume game as these higher volumes contributed to a bulk of our SSSG," he said. They will continue pricing their products attractively and drive volumes that will target a broader base of customers. Founded by Agarwal and his brother Rohit Agarwal in 2015, Citykart aims to further strengthen its reach in underserved yet budget-conscious markets. With the bulk of its revenues coming from tier 2 & 3 areas alongside a portfolio of in-house brands such as Athiya, Nimes, Fumee, and Remise, the company caters to over 15 million customers annually. Also Read: Everstone to scout for more assets in software services on the back of AI boom, stable valuations Crisil noted that the company's established market presence in tier 2 areas and beyond offers healthy potential for growth. However, it continues to face some headwinds from the fragmented nature of the industry, which results in intense competition from the unorganised market. The company's growth is limited by the number of new stores it can open.
