TOURISM

Monday, June 23, 2014

Sunday, November 25, 2012

CURRENCIES
CURRENCIES

BUSINESS NEWS

Currency

SELLDraft
CASH
Sell
Dollar
2.6483
Dollar
2.6483
2.6455
Euro
1.9212
Euro
2.0141
2.0243
Pound
1.5385
Pound
1.6300
1.6367
Riyal
9.9384
Saudi Riyal Saudi
9.9423
9.9354
Yen
259.7403
Yen
211.4165 214.5923
Indian Rupee 153.8462
Indian Rupee 137.9310 144.5087

WORLD ECONOMEY
MEY

INTER
REST RATE
DEFLATION
EF
TI
ELECTRONICS

INSURANCE

INTERNET

SOFTWARE

VEHICLE

MARKET

STOCK EXCHNGE

COMPUTER

DEVELOPMENT

BUSINESS

WEB

NETWORK

INFLATION

CURRENCIES
Sell Cash

SELLMarket
DRAFT

BUSINESS
GOLD

GOLD

TAX

Rate

BD165.00
00
Bahrain (10gm) Bahrain BD 212.
2.6455
$1,312.50
London (1 ounce)London $ 1,730.00
1.9305
$1,729.50
US
$1,314.70
New York (1 ounce)
1.5444

9.9354
London
264.5503
New York
156.4945

OILOIL

London $110.55
$115.06
US
$106.43
$87.15

INVITA
- KUWAIT
BAHRAIN MOST
FREEST
MONEY EXCHANGE

11

BIZ

BITES

Fears of inflation
mount as oil risk
goes up

BEGINS
ECONOMYOPERATIONS
IN ARAB WORLD
DT Business Desk
biz@dt.bh

with Bahrain after ranking

second overall in 2011 with a
score of 7.9. Jordan moved into
the third spot from eighth
overall, improving its score to
7.9 from 7.4 last year, showed
the report.
The Economic Freedom of
the Arab World report compares and ranks Arab nations in
five areas of economic freedom:
size of government, including
expenditures, taxes, and enterprises; commercial and economic law and security of property rights; access to sound
money; freedom to trade internationally; and regulation of
credit, labour, and business. The
complete report may be downloaded as a PDF, free of charge,
at www.freetheworld.com.

Economic freedom is based

on the cornerstones of personal choice, voluntary exchange,
freedom to compete, and security of private property.
Research shows that individuals living in countries with
high levels of economic freedom enjoy higher levels of
prosperity, greater individual
freedoms, and longer life
spans.
The report is based on data
from 2010 (the most recent
year available) but also examines more recent data to mark
out trends for individual
nations. This is crucial since
the key question in future years
will be whether the changes
underway result in greater economic freedom or whether

ahrain and the United Arab

Emirates (UAE) are home to
the highest levels of economic
freedom among Arab nations, a
specialised international economic report has unveiled.
The
annual
Economic
Freedom of the Arab World
report is compiled by German
Friedrich Naumann Foundation
for Liberty (FNF), the
Launching
session
International
Research
Foundation (IRF) of Oman and
the Fraser Institute, Canada's
leading public policy think tank.
Bahrain, which ranked first
last year, improved its overall
DT Business
score toDesk
8.1 out of 10 from 8.0.
news@dt.bh
The UAE also scored 8.1, tying
uwait Finance House Bahrain received the Best
Investment Advisory Service
2014 award from CPI Financial for the second year running at the Banker Middle East
Industry Awards held at the
Emirates Towers in Dubai. Ahmad Saeed, Executive Manager
accepted the accolade from
Saleh Al Akrabi(Chairman,CPI
Financial)
and
Adam
Broom(CEO,CPI Financial).
Managing Director and CEO
of KFH-Bahrain Abdulhakeem
Alkhayyat said Winning this
award demonstrates the confidence that has been instilled
in KFH-Bahrains abilities, after
our successful role as the Lead
and Transaction Advisor in the
three way bank merger of the
Bahrain-based Islamic banks,
Elaf Bank, Capital Management Mr. Ahmad Saeed, Executive Manager at KFH-Bahrain (centre)
House and Capivest.
receives the award.

economies in the region continue to stagnate.

The report measures available
data on economic freedom in 22
nations of the League of Arab
States, but due to data limitations, calculations of the overall
level of economic freedom are
only available for 16 jurisdic-

KFH-Bahrain receives Best Investment news@dt.bh

Company, a fully
Advisory Service Award
owned subsidiary of BBK
IBanknvita
and Impulse Interna-

DT Business Desk

tional owned by National

Technology Enterprises Company (a subsidiary of the Kuwait Investment Authority),
have announced the establishment of Invita - Kuwait
with a capital of 1 million Kuwaiti Dinars in Kuwait City in
the presence of Invita Bahrain
representatives and a number

tions:
Algeria,
Bahrain,
Comoros, Djibouti, Egypt,
Jordan, Kuwait, Lebanon,
Mauritania, Morocco, Oman,
Qatar, Saudi Arabia, Syria,
Tunisia, and UAE. The rankings
are entirely based on third-party
data. The full data sets are available at www.freetheworld.com.

of officials. Chairman of the

Board of Directors of Invita
Bahrain Rashad Akbari, CEO
Rahul Bhalla and Deputy
Chairman of the Board and
Chief Executive Officer of
Impulse Izzat Abou-Amarah
expressed the hope that new
venture will deliver good results. Vice Chairman of Invita Kuwait Mr. Mohammad
Alhajeri,said that the center
will provide about 200 job
opportunities to the Kuwaiti
market during the first three
years of its operation.

New charging system for IDD

DT Business Desk
news@dt.bh

elecommunications
services provider Batelco
announced a change in its
charging system for IDD (International Direct Dial) calls made
from fixed lines. The change will

be implemented in August this

year. All IDD calls from fixed
lines will be charged per minute
and this will bring the charging
process in line with voice services including 123Call Calling
Cards which deliver some of
the lowest rates available in the
Kingdom of Bahrain.

Bahrain Bank CEO meet

issue of evaluating the market

price of banking institutions
will be analysed and discussed.
he Bahrain Association of The event, entitled Buy, Hold
Banks (BAB) will hold its or Sell? How Analysts Requarterly
CEO
Luncheon
to- Bay.
An aerial
view
of the Bahrain
ally Rate Banks, will be admorrow at the Intercontinental dressed by Chiradeep Ghosh,
Regency Bahrain at which the a senior research analyst at
DT Business Desk
news@dt.bh

the Bahrain-based regional

investment bank, Securities &
Investment Company (SICO).
Mr Ghosh will take a special
look at the critical parameters
and ratios.The presentation
will be followed by a live case
study.

MANAGEMENT
THOUGHTS

Training
is expensive
toaimpart
You
dont need
a title to be
leader. as well as to receive.

Oil prices touched $115 barrel recently, as the conflict

in Iraq intensified, raising
questions about supply of
oil from the region. This in
turn has turned the spotlight on inflation, which has
already risen 2% over last
yearreport,
in the which
US. The
The
hasconflict
been
could since
further
raise
prices,
presented
2005,
is one
of a
puttingofpressure
the US
number
regionalonreports
central
bank
towhole
raise interest
based
in part
or in
on the
rates. Institute's
Fraser
annual
Economic Freedom of the
World
which $100
ranks the
BoxReport,
to raise
economic
freedom levels of 144
million
countries.
Cloud storage provider Box,
which competes with startups such as Dropbox and
established players such as
Microsoft, Google, Apple
and Amazon, is reportedly
in talks to raise $100 million
that would value the company at $2 billion. It wanted to
raise $250 million in an IPO
earlier this year, but that got
delayed.

Fitch cuts Guatemalas rating

Fitch Ratings has cut Guatamalas long term foreign and
local currency rating to BB
from BB+ yesterday, as the
country struggles to grow
faster, widen its tax base
and improve government
finances. Guatemala, which
has a population of 14 million, is Central Americas
biggest economy and has
been growing at an average
of 2.8% in the last five years.

Labor market
strengthens in US
Unemployment rate fell
in 20 states, and payrolls
went up in 36, on the back
of growing business confidence, better sales and economic recovery in the US.
Texas gained the most in
terms of absolute numbers
- with 56,400 jobs, while
Illinois and Masachusetts
gained most in percentage
terms.