Latest news with #Mumtalakat
Biz Bahrain
5 days ago
- Business
- Biz Bahrain
Gulf Air signs $4.6 billion agreement with Boeing to purchase 18 Boeing 787 Dreamliners
Gulf Air, the national carrier of the Kingdom of Bahrain, announced the signing of a $4.6 billion agreement with Boeing to acquire 18 Boeing 787 Dreamliner aircraft, supporting the airline's long term strategy to modernise its fleet and expand its route network. The aircraft will be powered by engines from GE Aerospace, enhancing Gulf Air's operational performance and sustainability while further elevating the passenger experience. The agreement was signed during the official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to Washington, underscoring the growing economic and trade relations between Bahrain and the United States. The signing was attended by Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy and Chairman of Bahrain Mumtalakat Holding Company (Mumtalakat); Abdullah bin Adel Fakhro, Minister of Industry and Commerce; Howard Lutnick, U.S. Secretary of Commerce; Shaikh Abdullah bin Rashid Al Khalifa, Ambassador of Bahrain to the United States; and Shaikh Abdullah bin Khalifa Al Khalifa, CEO of Mumtalakat. Khalid Hussain Taqi, Chairman of Gulf Air Group, said that the order of the popular 787 Dreamliner reflects Gulf Air's continued drive for growth and development, increasing passenger capacity by over 20%. He added that the investment supports the airline's commitment to fuel efficiency, environmental sustainability, and passenger comfort, while also reflecting the strength of Bahrain–US aviation ties. The Boeing 787 Dreamliner is known for its fuel efficiency, advanced technologies, and superior passenger comfort, making it a cornerstone of Gulf Air's current and future fleet. The new aircraft will support the airline's long term operations, expansion plans, and sustainability goals. Stephanie Pope, President and CEO of Boeing Commercial Airplanes, welcomed the expanded partnership with Gulf Air, saying the delivery of additional 787s will enable the airline to serve more passengers and destinations, highlighting its commitment to innovation and sustainable growth. During the signing, Gulf Air and Boeing also signed a Memorandum of Understanding (MoU) to discuss the potential for localising aircraft Maintenance, Repair, and Overhaul (MRO) operations in Bahrain. The MoU reflects both parties' commitment to assessing potential strategic partnerships to establish world class MRO capabilities locally, supporting job creation and enhancing national talent in the aviation maintenance sector. The agreement with Boeing supports Gulf Air Group's efforts to position Bahrain as a leading regional aviation hub, aligned with the Kingdom's goals of promoting sustainability, economic diversification, and international air connectivity. BNA(R)
LBCI
6 days ago
- Business
- LBCI
Bahrain, US firms sign $17 billion in deals to deepen economic ties
Bahraini and U.S. companies signed a series of agreements worth approximately $17 billion, aimed at strengthening economic ties and advancing cooperation across key sectors, Bahrain's state news agency BNA reported on Wednesday. The deals span sectors such as aviation, technology, industry, and investment. Among the agreements, Cisco Systems will provide digital solutions for Bahrain's government information and telecommunications infrastructure. Separately, plans were announced to establish an 800-kilometre (497-mile) multi-fiber submarine cable linking Bahrain, Saudi Arabia, Kuwait, and Iraq to global networks, according to BNA. Bahraini financial institutions and private-sector firms also announced plans to invest $10.7 billion in the United States, while sovereign wealth fund Mumtalakat signed deals with several U.S. companies to invest $2 billion in downstream aluminium projects, with a focus on job creation. The signing ceremony took place during Bahraini Prime Minister and Crown Prince Salman bin Hamad Al Khalifa's visit to Washington late on Tuesday. He emphasized that expanding cooperation with the United States could help create new economic opportunities through investment and collaboration. Reuters
The Sun
7 days ago
- Business
- The Sun
Bahrain and US firms sign $17 billion deals to boost economic ties
BAHRAINI and U.S. companies signed a series of agreements worth approximately $17 billion, aimed at strengthening economic ties and advancing cooperation across key sectors, Bahrain's state news agency BNA reported on Wednesday. The deals span sectors such as aviation, technology, industry, and investment. Among the agreements, Cisco Systems will provide digital solutions for Bahrain's government information and telecommunications infrastructure. Separately, plans were announced to establish an 800-kilometre (497-mile) multi-fiber submarine cable linking Bahrain, Saudi Arabia, Kuwait, and Iraq to global networks, according to BNA. Bahraini financial institutions and private-sector firms also announced plans to invest $10.7 billion in the United States, while sovereign wealth fund Mumtalakat signed deals with several U.S. companies to invest $2 billion in downstream aluminium projects, with a focus on job creation. The signing ceremony took place during Bahraini Prime Minister and Crown Prince Salman bin Hamad Al Khalifa's visit to Washington late on Tuesday. He emphasized that expanding cooperation with the United States could help create new economic opportunities through investment and collaboration. In 2023, Bahrain and the U.S. signed a security and economic agreement, and Bahrain continues to host the U.S. Navy's Fifth Fleet and the headquarters of the U.S. Naval Forces Central Command. - Reuters
Arab News
7 days ago
- Business
- Arab News
Bahrain, US firms sign $17bn in deals to deepen economic ties, news agency BNA says
LONDON: Bahraini and US companies signed a series of agreements worth approximately $17 billion, aimed at strengthening economic ties and advancing cooperation across key sectors, Bahrain's state news agency BNA reported on Wednesday. The deals span sectors such as aviation, technology, industry, and investment. Among the agreements, Cisco Systems will provide digital solutions for Bahrain's government information and telecommunications infrastructure. Separately, plans were announced to establish an 800-km, or 497-mile, multi-fiber submarine cable linking Bahrain, Saudi Arabia, Kuwait, and Iraq to global networks, according to BNA. Bahraini financial institutions and private-sector firms also announced plans to invest $10.7 billion in the US, while sovereign wealth fund Mumtalakat signed deals with several US companies to invest $2 billion in downstream aluminum projects, with a focus on job creation. The signing ceremony took place during Bahraini Prime Minister and Crown Prince Salman bin Hamad Al Khalifa's visit to Washington late on Tuesday. He emphasized that expanding cooperation with the US could help create new economic opportunities through investment and collaboration. In 2023, Bahrain and the US signed a security and economic agreement, and Bahrain continues to host the US Navy's Fifth Fleet and the headquarters of the US Naval Forces Central Command.
Al Arabiya
7 days ago
- Business
- Al Arabiya
Bahrain, US sign $17bln in deals to deepen economic ties
Bahraini and US companies signed a series of agreements worth approximately $17 billion, aimed at strengthening economic ties and advancing cooperation across key sectors, Bahrain's state news agency BNA reported on Wednesday. The deals span sectors such as aviation, technology, industry, and investment. Among the agreements, Cisco Systems will provide digital solutions for Bahrain's government information and telecommunications infrastructure. Separately, plans were announced to establish an 800-kilometre (497-mile) multi-fiber submarine cable linking Bahrain, Saudi Arabia, Kuwait, and Iraq to global networks, according to BNA. Bahraini financial institutions and private-sector firms also announced plans to invest $10.7 billion in the United States, while sovereign wealth fund Mumtalakat signed deals with several US companies to invest $2 billion in downstream aluminum projects, with a focus on job creation. The signing ceremony took place during Bahraini Prime Minister and Crown Prince Salman bin Hamad Al Khalifa's visit to Washington late on Tuesday. He emphasized that expanding cooperation with the United States could help create new economic opportunities through investment and collaboration. In 2023, Bahrain and the US signed a security and economic agreement, and Bahrain continues to host the US Navy's Fifth Fleet and the headquarters of the US Naval Forces Central Command.
