ADQ, Oman Investment Authority launch $180 million technology-focused fund to bolster digital economy


Abu Dhabi, ADQ, an Abu Dhabi-based investment and holding company, today announced the launch of a US$180 million technology-focused fund, Jasoor Fund (the Fund), with Oman Investment Authority (OIA) represented by ITHCA Group. This commitment is part of a broader framework agreement signed between both parties in 2022.

According to Emirates News Agwency (WAM), the Fund aims to bolster the digital economy in the Sultanate and the wider MENA region by supporting high-growth technology companies in sectors such as FinTech, EdTech, HealthTech, cleantech, food and agriculture, and logistics. Its core focus will be on innovative technology companies established in the Sultanate, in addition to technology startups in other countries in the region. It will undertake investments high-growth technology companies at various stages of development that have established business models.

In 2022, ADQ and OIA identified investment opportunities worth over $8 billion in key sectors of Oman’s economy. The partnership aims t
o contribute to increased economic cooperation and trade between both nations.

Source: Bahrain News Agency

Alba achieves First Fire of M701JAC Gas Turbine


Manama, Aluminium Bahrain B.S.C. (Alba) announced a significant milestone towards the commercial operation of its Power Station 5 (PS 5) Block 4 Project with the First Fire of the Mitsubishi Power M701JAC Gas Turbine (GT).

This achievement marks a key step towards the project’s on-schedule completion in Q4 2024. Notably, it also comes just six months after the GT unit’s delivery to site in October 2023.

A celebratory ceremony was held at the Block 4 Project site, attended by high-level officials from Alba, including the Chairman of the Board Khalid Al Rumaihi, Chief Executive Officer Ali Al Baqali, Chief Power Officer Amin Sultan, and Alba’s Executive Management Team.

Mitsubishi Heavy Industries (MHI)’s Senior Vice President, Vice President, Energy Systems Takashi Tozawa, and SEPCOIII’s Vice President, Kong Lingfeng, and senior officials from ESBI were also present.

In his remarks, Khalid Al Rumaihi, Alba’s Chairman, highlighted the significance of the First Fire milestone and stated, “This achievement ma
rks the commencement of commissioning activities for Block 4 which upon completion, will set a new standard for sustainable and efficient power generation within the aluminium industry.”

Al Rumaihi further emphasised Alba’s commitment to environmental responsibility, stating, “The Block 4 Project translates our proactive approach to integrating energy operational efficiency with environmental standards to align with Bahrain’s Net Zero Emissions target by 2060.”

Adding to the celebration, Ali Al Baqali, Alba’s CEO, expressed his pride in achieving this milestone safely with more than 3.8 million safe working hours. He then emphasised the project’s direct alignment with Alba’s ESG Roadmap: “With the successful First Fire of the advanced Gas Turbine, Alba is now closer to achieving its goals of reducing its environmental footprint and ensuring a sustainable future for the aluminium industry.

He also commended the collaborative efforts of the owner teams from Alba, MHI, SEPCOIII, and ESBI, reiterating confiden
ce in delivering the project on schedule.”

Takashi Tozawa, Senior Vice President, Vice President, Energy Systems at MHI added: “Mitsubishi Power is honoured to support Alba and the Kingdom of Bahrain as we celebrate the successful achievement of first firing for gas turbine ahead of the schedule and the start of the hot commissioning of Alba’s new CCGT Block 4 in Power Station 5 with our partners SEPCOIII. Today’s success is testament to our unwavering commitment to using the latest innovation to deliver industry-leading and reliable solutions to our partners. Our advanced, hydrogen-ready M701 JAC gas turbine technology provided for this project also underscores Mitsubishi Power’s dedication to advancing low carbon power generation worldwide. As Bahrain progresses towards its ambitious growth targets outlined in the Economic Vision 2030, we take great pride in working together with Alba to provide uninterrupted and efficient power to support the country on its journey to sustainable growth.”

Kong Lingfeng S
EPCOIII’s Vice President said: “As SEPCOIII, we proudly celebrate the successful first firing of the gas turbine and the start of hot commissioning for Alba’s new CCGT Block 4 at Power Station 5 in Bahrain.”

“This milestone showcases our dedication to innovative solutions, reflecting our commitment to global low-carbon power generation. Collaborating with Alba, we deliver reliable, sustainable power, supporting Bahrain’s Economic Vision 2030,” he added.

Alba’s PS5 Block 4 Expansion Project is the addition of a fourth Block of similar combined cycle configuration with 680.9 megawatts (MW) M701JAC Gas Turbine Combined Cycle and includes tie into the existing 220kV Substation. Once operational in Q4 2024, Block 4 will increase the nameplate capacity of PS5 Complex from 1,800 MW to 2,481 MW and reduce its overall GHG emissions intensity ratio by 0.5 tonnes of CO2 per 1 tonne of aluminium produced.

Source: Bahrain News Agency

Bahrain EDB hosts delegation from Monaco spearheading bilateral investment opportunities


Manama, Bahrain Economic Development Board (Bahrain EDB) is set to host a high-level delegation from the Principality of Monaco, led by Frédéric Genta, the Secretary of Attractiveness, Development and Digital at the Government of Monaco on a two-day visit to the Kingdom of Bahrain on April 24 and April 25, 2024.

This strategic visit aims to foster collaboration, exchange best practices, and explore potential cross-investment opportunities between the two nations.

During the visit, the Monaco delegation, which is composed of key government officials and influential C-suite executives from the business community, will engage in a series of high-level meetings with key counterparts and stakeholders from both the private and public sectors.

Designed to provide the visiting delegation with deeper insights into Bahrain’s economic landscape and investment potential, the curated meetings aim to facilitate meaningful discussions on potential areas of collaboration, with a focus on shared synergies namely financial
services, digital transformation, and tourism.

Both the Kingdom of Bahrain and the Principality of Monaco are renowned for their commitment to fostering digital innovation and creating business-friendly environments that encourage foreign investment. By promoting increased knowledge sharing of economic strengths and respective experiences, the two nations strive to build a solid foundation to pave the way for long-term cooperation and increased cross-investment.

Source: Bahrain News Agency

Oil tank leak discussed by National Civil Emergency Committee meeting


Manama, Lieutenant General Tariq Al Hassan, , chaired the National Civil Emergency Committee meeting. Representatives from ministries, concerned authorities, and Bapco Refinery attended to discuss the impacts of the oil tank leak.

Lt. Gen. Al Hassan was briefed on the leak incident and the steps taken by Bapco’s emergency team, the General Directorate of Civil Defence, and concerned authorities to secure the site and deal with the leak as per pre-set plans and security and safety standards to ensure the safety of the surrounding areas.

The meeting reviewed all potential scenarios and discussed plans to deal with them effectively. The Chief of Public Security asserted that the committee is following up on the developments of the incident and the public’s complaints regarding the gas odours in some areas. He highlighted that information and instructions regarding such incidents, as per international standards, are avaiable on the National Civil Protection Platform.

Lt. Gen. Al Hassan highlighted the National
Communication Centre’s initiative in cooperation with concerned authorities to continuously release information as the efforts to deal with the impacts of the incident continue. He stressed the importance of obtaining verified information from official sources.

Source: Bahrain News Agency

Information Minister meets Bahraini award-winning actress


Manama, Dr. Ramzan bin Abdullah Al Noaimi, the Minister of Information, met with Bahraini actress Mariam Zayman, and directors Mahmood Al Shaikh and Salman Youssef.

Zayman won the Best Actress Award for her role in the Bahraini film May Ward (Rose Water) at the Gulf Film Festival in Riyadh, Saudi Arabia.

Dr. Al Noaimi congratulated the Bahraini actress on winning the prestigious award, which recognised her outstanding talent throughout her career.

The minister said that Bahraini artists have been able to make distinguished contributions regionally. He emphasised that the Information Ministry will continue to support Bahraini artists and provide them with an environment conducive for creativity and innovation.

The minister praised the Bahraini cinema’s ongoing progress driven by the efforts of Bahraini artists and creatives, which have been well received in regional and international cinema festival.

Mariam Zayman expressed her gratitude and appreciation to the Minister of Information, praising his suppor
t which is a source of motivation for Bahraini art and artists.

Source: Bahrain News Agency

Bahraini-Serbian relations, cooperation discussed


Manama, Dr. Abdullatif bin Rashid Al Zayani, Minister of Foreign Affairs, received Ambassador Dragan Petrovic, the Special Envoy of the Minister of Foreign Affairs of Serbia.

The two sides reviewed the distinguished relations between Bahrain and Serbia, as well as their development in various sectors, within the framework of two countries’ keenness to strengthen ties to serve common interests.

They also discussed the latest regional and European developments, as well as efforts to establish peace, security and stability for all.

Issues of mutual concern were also reviewed.

Source: Bahrain News Agency

Ministry of Sustainable Development participates in the Financing for Development Forum and the SDG Investment Fair at the UN headquarters in New York


New York, A delegation from the Ministry of Sustainable Development, headed by Dana Imad Hamzah, the Assistant Undersecretary for Sustainable Development, has participated in the 2024 Financing for Development Forum organized by the United Nations Economic and Social Council (ECOSOC) and the accompanying SDG Investment Fair convened at the sidelines of the forum at the United Nations headquarters in New York from April 22 to 25.

The opening ceremony included statements by António Guterres, UN Secretary-General, Kristalina Georgieva, Managing Director of the International Monetary Fund, and Dennis Francis, President of the UN 78 General Assembly.

Sessions during the forum included high level participation of country representatives and experts who discussed several topics related to the financing agenda for the Sustainable Development Goals (SDGs), and explored policy gaps and actions needed to address financing challenges in order to move forward with the implementation of the 2030 Agenda.

The delegation f
rom the Ministry of Sustainable Development also attended the SDG Investment Fair that takes place on the sidelines of the Financing for Development Forum to learn from country experiences in tagging government investment projects with sustainability elements and the SDGs recognizing that the SDG Investor Fair is an important platform for connecting investors, private and public institutions, and UN representatives to build collective action to reach the 2030 Agenda and achieve the SDGs through concrete investment opportunities.

Source: Bahrain News Agency

Dominica supports Morocco’s territorial integrity, sovereignty over all its territory, including Sahara


Rabat, The Commonwealth of Dominica has reaffirmed its support for the territorial integrity and sovereignty of the Kingdom of Morocco over all its territory, including the Moroccan Sahara.

This position was expressed in a Joint Communiqué issued following talks between the Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, Nasser Bourita, and the Minister of Foreign Affairs, International Business, Trade and Energy of the Commonwealth of Dominica, Vince Henderson.

In this Joint Communiqué, posted by the Maghreb Arabe Press (MAP), Henderson reiterated his country’s support for the Autonomy Plan, presented by Morocco in 2007, as the only credible, serious, and realistic solution for resolving the dispute over the Moroccan Sahara.

In this regard, he praised the efforts of the United Nations as the exclusive framework for achieving a realistic, practical, and lasting solution to this regional dispute.

As a member of the Organisation of Eastern Caribbean States (OECS), the Commonwealth
of Dominica welcomed the opening of an OECS Embassy in Rabat on October 18, 2018 and a Consulate General in Dakhla on March 31, 2022, which will certainly represent a great opportunity to further consolidate bilateral exchanges between the Kingdom of Morocco and the six Eastern Caribbean States, the Communiqué emphasised.

Source: Bahrain News Agency

???????25 international organisations laud royal pardon


Manama, Twenty-five international human rights organisations, including those based in European Union countries and holding UN consultative status, have welcomed the royal pardon issued by His Majesty King Hamad bin Isa Al Khalifa. The pardon included 1,584 convicts.

Isa Al Arabi, Chairman of the Arab Union for Human Rights, expressed appreciation on behalf of the international organisations for the royal pardon issued by His Majesty the King. He lauded the royal decree, which reflected the national principles and values of Bahrain.

The statement said: ” While we applaud the issuance of this royal decree, which enhances Bahrain’s respect for human rights, we greatly appreciate this important and courageous step by the King of Bahrain, and the opportunity for this large number of prisoners to re-engage in society in a positive way and contribute to building and developing the Kingdom.”

The statement of international organisations accredited by the United Nations and in the European Union added that the init
iative demonstrated the priority given to the higher interests of the nation and the citizen, and that it contributes to achieving greater stability and prosperity.

The organisation lauded the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, regarding employing beneficiaries of the royal pardon and all those released, providing training programs to integrate them into the labour market, and initiatives that promote their positive integration into society.

The organisations commended initiatives led by the Ministry of Interior, regarding expanding the implementation of alternative punishment programmes and open prisons, and replacing them with the implementation of custodial punishments.

The statement emphasised the importance of these humanitarian initiatives, and the Kingdom of Bahrain’s commitment to the humanitarian approach, devoting respect and promotion of human rights, and promoting the values of tolerance led by the His Majesty the King.

So
urce: Bahrain News Agency

Foreign Minister receives call from Japanese counterpart


Manama, Dr. Abdullatif bin Rashid Al Zayani, Foreign Affairs Minister, received a call from his Japanese counterpart, Yoko Kamikawa.

The two ministers discussed the progress of the deep-rooted friendly Bahraini-Japanese relations, which are growing steadily across various fields. They also reviewed ways to bolster bilateral cooperation and coordination at all levels, in a way that would serve the interests of both countries and their peoples.

They also discussed the latest regional developments, particularly the war in the Gaza Strip, and the ongoing efforts to establish peace, security and stability, as well as avoid military escalation.

Regional and global issues of mutual interest were also reviewed.

Source: Bahrain News Agency

Bahrain Post participates in International EMS General Assembly Meeting


Bern, Bahrain Post attended the International Express Mail Service General Assembly meeting at the headquarters of the International Postal Union in Switzerland.

The delegation was led by Dr. Khalid Abdulrahman Al Haidan, Assistant Undersecretary for Post and Abdulla Hassan Al Asmi, Head of Postal Information and Rights.

During the meetings, decisions related to the postal sector were issued, and discussions were conducted on administrative and financial on the 2023 budget and 2024 action plan.

Technical decisions were also issued during the meeting on mutual operation of EMS and i-Care systems, the global customer service system, and improving information exchange for better coordination among member states.

The Universal Postal Union is the main forum for cooperation between postal operators worldwide, and it holds its annual meeting to address the technical, financial and operational aspects of postal sector topics.

Source: Bahrain News Agency

UAE President, Sultan of Oman discuss strengthening relations, regional developments


Abu Dhabi, President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Majesty Sultan Haitham bin Tariq of Oman, discussed strengthening relations and cooperation between the UAE and Oman to serve mutual interests and meet the aspirations of their peoples for development and prosperity in line with the deep-rooted and historical ties that unite the two countries and peoples. The two sides also discussed regional and international issues of common interest.

HH the UAE President said that these meetings aim to further foster prosperity in the UAE and Oman, expressing his confidence that His Majesty’s visit represents a strong boost to bilateral relations that will bring growth and development to the two peoples.

HH the President and HM Sultan Haitham bin Tariq reviewed relations between the two countries, especially in the economic, investment, and trade areas, which have witnessed significant advancement in recent years in a way that serves developmental priorities and enhances the prosperity of the tw
o countries.

The meeting also addressed joint Gulf action in light of the challenges the region is witnessing and highlighted its importance in achieving the mutual interests of Gulf Cooperation Council countries and their peoples while bolstering regional security and stability, according to the Emiratis New Agency (WAM).

The two sides discussed several regional and international issues of common interest, most notably developments in the Middle East and efforts to contain tensions and prevent escalation, as this entails a serious threat to security and stability. They also addressed the importance of self-restraint and prioritising the voice of wisdom to spare the region from new crises that affect all and hinder cooperation and development for the benefit of its peoples.

During the meeting, HH Sheikh Mohamed bin Zayed Al Nahyan stressed that relations between the UAE and Oman are historical and characterised by a unique social and cultural fabric distinguished by close family ties, good neighbourliness,
and effective cooperation and integration.

In his remarks, His Highness recalled the late Sheikh Zayed bin Sultan Al Nahyan and the late Sultan Qaboos, who established an original approach in building strong fraternal relations fortified by goodwill and wisdom.

His Highness underscored his confidence that the social cohesion between the UAE and Oman represents a firm foundation upon which the two countries can continue to build exemplary relations that serve mutual interests and achieve the aspirations of their peoples for progress and prosperity.

His Highness noted that economic relations are an important and supportive path for bilateral cooperation and have witnessed continuous development over the years, culminating in various economic and strategic partnerships in many fields. His Highness added that the UAE and Oman maintain ambitions to continue exploring and developing economic opportunities for the benefit of the two countries and peoples.

His Highness the President stressed that joint Gulf actio
n will remain an impenetrable fortress in the face of regional and global developments and challenges. His Highness noted that the UAE believes in the principle of collective action and solidarity in a way that preserves the interests of Gulf Cooperation Council countries, enhances its regional and international role, meets the aspirations of its peoples for continued progress and prosperity, and supports regional and global peace and stability.

For his part, His Majesty Sultan Haitham bin Tariq expressed his pleasure at visiting the UAE and affirmed his appreciation to His Highness Sheikh Mohamed bin Zayed Al Nahyan and the government and people of the UAE for their warm reception and generous hospitality.

His Majesty also expressed his satisfaction with the constructive strategic partnership between Oman and the UAE, which represents a new and promising chapter launched during the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan to the Sultanate of Oman, in addition to the resulting strategic inve
stment projects and close cooperation in various fields.

His Majesty praised the role of both countries’ officials in achieving a shared vision of cooperation on the ground by beginning to implement joint projects in strategic sectors, especially in the renewable energy field, and launching a railway project to connect the Sultanate of Oman to the UAE train network, in addition to strengthening electrical interconnectivity, among other initiatives.

His Majesty stressed that the ties of good neighbourliness and common history between the two countries merit commendation, noting his aspiration to advance towards a future defined by broader cooperation in various fields, which contributes to the growth of both countries’ economies and the fulfilment of the aspirations of their peoples.

His Majesty the Sultan of Oman signed the guestbook in which he expressed his appreciation to His Highness the President, for the warm and fraternal reception and generous hospitality he and the accompanying delegation received
. He highlighted his aspiration that the visit would further foster cooperation and serve the interests of the two countries and peoples, asking God Almighty to reinforce the bonds of friendship between them and safeguard the UAE as it continues on it path of development.

Source: Bahrain News Agency