Latest news with #Manama
Zawya
5 days ago
- Business
- Zawya
Khaleeji Bank announces its sponsorship of the Bahrain Padel Federation Cup
Manama, Kingdom of Bahrain: Khaleeji Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has recently signed a sponsorship agreement with the Bahrain Padel Federation to support the Federation Cup under the title of 'Khaleeji Federation Cup' between 16th – 19th July 2025, in Padel Kingdom Courts, with the participation of top local players. The signing ceremony was held at Khaleeji Bank's headquarters in GFH Tower, Manama, where Mr. Mohamed Abdulla Saleh, Assistant General Manager of legal, regulatory and Corporate Affairs, signed on behalf of the Bank, while Mr. Fahad Fawzi Kanoo, Chairman of the Bahrain Padel Federation, signed for the Federation, in the presence of senior officials from both sides. This sponsorship underscores Khaleeji Bank's dedication to supporting Bahrain's youth and sports sector as a key pillar of its corporate social responsibility. It reflects the Bank's commitment to investing in the future of the youth and national sport, in line with the Kingdom's vision of promoting sport as an essential driver of social progress, the directives of the wise leadership, and the tireless efforts spearheaded by His Highness Shaikh Nasser bin Hamad Al Khalifa, HM the King's Representative for Humanitarian Work and Youth Affairs and Chairman of the Supreme Council for Youth and Sports, with the follow-up of His Highness Shaikh Khalid bin Hamad Al Khalifa, First Deputy Chairman of the Supreme Council for Youth and Sports, Chairman of the General Sports Authority and President of the Bahrain Olympic Committee. On this occasion, Mr. Mohamed Abdulla Saleh, Assistant General Manager of Legal, Regulatory, and Corporate Affairs at Khaleeji Bank, stated: 'We are delighted to announce this sponsorship, which embodies Khaleeji Bank's ongoing commitment to supporting national sporting initiatives and enabling the youth to develop their abilities across various sports, particularly Padel, which has witnessed remarkable growth and popularity in recent years. We are confident that the Khaleeji Federation Cup will elevate local competition and reinforce the Kingdom's position on the regional sporting map, in line with our vision to invest in talent and empower it to achieve sustainable success both locally and internationally.' On his part, Mr. Fahad Fawzi Kanoo, Chairman of the Bahrain Padel Federation, said: 'We are pleased with our partnership with Khaleeji Bank to launch the Khaleeji Federation Cup, an important step towards enhancing padel and attracting more players and fans. This support will enable us to organise a championship that raises standards, provides a platform to discover and refine promising talents, and strengthens Bahrain's presence regionally and globally in the sport.' Khaleeji is a leading Islamic bank that strives to achieve clients' ambitions through an Islamic banking model that offers a comprehensive range of high quality Shari'a-complaint banking services and investment opportunities to individuals and companies.
Daily Tribune
5 days ago
- Business
- Daily Tribune
Bitcoin Breaches $120K as Funds Pour In
TDT | Manama Bitcoin has crossed the USD 120,000 mark for the first time, propelled by a wave of institutional investment that analysts say is driving the first truly mature bull market in the cryptocurrency's history. Bitcoin hitting USD 120,000 means one bitcoin now trades for that amount in US dollars, reflecting its rising market value as a digital asset. Fuelled by robust inflows into exchange-traded funds (ETFs) and strategic allocations by large public and private institutions, the world's largest cryptocurrency is now firmly positioning itself as a mainstream asset class. Institutional traction Josh Gilbert, Market Analyst at eToro, said the ongoing surge reflects a shift from retail speculation to structural demand. 'Institutional adoption is growing, and this is the first real bull market where institutional participation is front and centre,' he said, pointing to major corporations adding bitcoin to their treasuries and sovereign funds entering the space through regulated investment products. Retirement plans, sovereign wealth funds, and asset managers are now actively investing in bitcoin ETFs, making multi-billion-dollar entries into a market defined by finite supply. Gilbert added that this persistent demand is a key driver behind bitcoin's sustained rally. Macro conditions align Loose global monetary policy and rising money supply continue to make a compelling case for bitcoin's appeal as a decentralised, fixed-supply asset. Gilbert explained that in such conditions, bitcoin is 'cementing itself as an alternative store of value.' While the crypto market has seen dramatic climbs in previous cycles, the current bull run is distinguished by its fundamental strength and breadth of participation, rather than hype. Retail yet to peak Despite the record prices, analysts believe the retail segment is still far from saturation. Gilbert noted that mainstream adoption remains in its early stages and that bitcoin is still an emerging component in diversified portfolios. 'This is just the beginning of widespread adoption, seamless integration with traditional finance, and robust regulatory frameworks,' he said. With increased trust, improving regulations, and global financial integration, analysts expect the upward momentum to continue well into the second half of 2025.
Zawya
5 days ago
- Business
- Zawya
Stc Bahrain reveals winners of the 12th InspireU General Program 2025 as it returns to Bahrain for the second time
Manama, Bahrain: stc Bahrain, a digital enabler, is proud to announce Doo and Indi Souq, two innovative Bahraini start-ups, as the winners of inspireU General program which was held for the second consecutive year in Bahrain. This initiative aims to empower Bahrain's entrepreneurial ecosystem by equipping start-ups with the tools and resources needed to succeed in today's competitive market. The winners were selected following an intensive bootcamp at stc Bahrain headquarters. The bootcamp featured coaching sessions led by industry experts Al Harith Al Attawi, CEO of Shafra Technology Labs, and Hisham Al Saati, Co-Founder of Siin, who helped participants refine their business strategies. On the second day, 20 start-ups pitched their business plans to a panel of judges, including Mr. Jawad Mahmood Jawad, CEO of Jahez; Abdulrahman Al Zuhair, Head of inspireU at stc; and other members from stc Bahrain management. The judges evaluated the pitches based on innovation, scalability, and impact. As part of the inspireU program, the winning start-ups will receive financial support, mentorship, and access to stc's extensive network. They will also participate in national and international exhibitions, workshops, and other events designed to accelerate their growth. Launched by stc Group in 2015, the inspireU accelerator program supports entrepreneurs across Saudi Arabia, Kuwait, and Bahrain. By promoting innovation and connecting start-ups with mentors, investors, and industry leaders, the program helps transform ideas into successful businesses. In Bahrain, inspireU aligns with the Kingdom's vision for economic diversification and reinforces stc Bahrain's commitment to driving digital transformation.
Zawya
5 days ago
- Business
- Zawya
Mazad announces the appointment of Nezar Hasan Habib as Chief Executive Officer
Manama, Bahrain – Mazad, Bahrain's leading online auctions platform, and a local portfolio company of Bahrain Mumtalakat Holding Company (Mumtalakat), announced the appointment of Nezar Hasan Habib as Chief Executive Officer, effective 20 July 2025. Nezar brings over twenty years of leadership experience across the telecom and banking sectors in Bahrain and the UAE, most recently served as Director of SME at STC Bahrain. He has a proven track record of building high-performing teams, leading impactful marketing initiatives, crafting innovative go-to-market strategies, and driving business growth. Mazad's Board of Directors, chaired by Marwa Khaled Al Saad, welcomed Nezar and expressed their confidence in his ability to lead Mazad into its next phase. The Board also extended their heartfelt gratitude to outgoing CEO Talal Aloraifi for his efforts and contributions during his tenure. Commenting on the appointment, Marwa stated: 'We are delighted to welcome Nezar as our new Chief Executive Officer. Mazad's entering its next phase with a clear strategy and an exceptional team. We continue to strengthen our core business through deeper government partnerships, while diversifying our portfolio, expanding into new segments, and building a customer-first organization that creates sustainable, long term value for our stakeholders.' 'On behalf of the board, I would like to extend our sincere gratitude to Talal Aref Aloraifi for his leadership and vision in transforming Mazad from a start-up into Bahrain's trusted and leading auction platform. We thank Talal for his invaluable contributions and wish him continued success in his future endeavors,' She added. Commenting on his appointment, Nezar said: 'It is an honor to be entrusted with the responsibility of leading Mazad as its Chief Executive Officer. The company has earned a distinguished reputation as a trusted and forward-thinking leader in the auction industry, and I am excited by the strategic plans we have envisioned to shape its next phase of growth. I am committed to building Mazad's strong foundation by accelerating innovation, strengthening operational excellence and positioning the company as a benchmark across the region. I look forward to working in close collaboration with the Board and our exceptional team to unlock new avenues of growth and elevate Mazad to new heights of success.'
Zawya
5 days ago
- Business
- Zawya
CBB 12 Month Treasury Bills issue no. 130 fully subscribed
Manama, Bahrain - This week's BD 100 million issue of Government Treasury Bills has been fully subscribed by 100%. The bills, carrying a maturity of 12 months, are issued by the CBB, on behalf of the Kingdom of Bahrain. The issue date of the bills is 17th July 2025, and the maturity date is 16th July 2026. The weighted average rate of interest is 5.39% compared to 5.28% of the previous issue on 19th June 2025. The approximate average price for the issue was 94.833% with the lowest accepted price being 94.732%. This is issue No. 130 (ISIN BH0007179565) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BD 2.110 billion.
