THURSDAY, APRIL 8, 2021 05 IMF raises ’s economic growth forecast it also expects most other econ- World Economic Outlook, re- rebounding from a 5.9% contrac- to post 0.7% growth this year, Bahrain’s economy omies in the Gulf to do the same. leased this week. tion in 2020, the IMF said. In up from an October estimate of • The fund said that it now ex- Saudi Arabia’s economy, the October last year it had forecast 0.6%. is expected to grow pects most Gulf economies to largest in the region, is expected a 6.6% drop in 2020 and 1.3% Qatar’s economy is estimated 3.3% this year recover this year at a ‘faster pace’ to grow 2.9% this year, up from growth this year. to grow 2.4%, just below the pre- than previously estimated, as the 2.6% forecast in January. Oman saw the biggest positive vious 2.5% estimate. TDT | Agencies it raised its 2021 global growth Saudi Arabian economy con- revision of the Gulf countries, The IMF on Tuesday said un- forecast to 6% from 5.5% less tracted 4.1% last year due to the from expectations of a 0.5% con- precedented public spending to than three months ago. twin shock of the COVID-19 pan- traction this year to a forecast of fight the COVID-19 pandemic, he International Mon- International Monetary Fund logo is IMF forecasts the economy of demic and lower oil prices.. 1.8% growth. primarily by the United States, etary Fund yesterday seen outside the headquarters building Bahrain to grow 3.3% this year The United Arab Emirates, the Forecasts for Kuwait and would push global growth to Traised its growth forecast during the IMF/World spring versus a forecast of 2.3% in Oc- Gulf’s second largest economy, Qatar remained almost un - 6% this year, the fastest pace for Bahrain’s economy, as it said meeting in Washington, U.S. tober, the IMF said in its latest will see growth of 3.1% this year, changed, with Kuwait expected since 1976.

Ithmaar Bank to fast-track Murabaha transactions following deal Batelco, NBB Group sign deal is fully equipped with all the necessary means to handle our NBB officials IT infrastructure operations, • allowing us to further focus on signed the deal during outsourcing our day-to-day re- TDT | Manama heavily in continuously en- a visit to the newly sponsibilities and operations hancing our products and ser- opened Batelco Data while trusting that our infra- thmaar Bank, a Bah - vices while growing closer to Center in Hamala structure is being safely and se- Irain-based Islamic retail our customers,” he said. curely managed and maintained bank, announced signing an “An important component of by one of the most respected na- agreement with the Bahrain this commitment is working to TDT | Manama tional entities in the Kingdom.” Bourse to utilise the Ijara ensure we remain at the cut- Batelco General Manager Sukuks issued by the Central ting edge of technology while oth Batelco and National of Enterprise, Abderrahmane Bank of Bahrain as underlying continuously enhance our Bank of Bahrain Group The deal signing Mounir, said: “We believe that assets to complete Murabaha customer’s Islamic banking Bsigned a Memorandum the facilities and solutions we Finances using a Sharia-com- experience,” said Abdul Ra- of Understanding (MoU) to for- capacity of 2.7 megawatts to ser- Group Chief Operating Officer can offer are well suited and pliant online brokerage service him. “This agreement with the malize plans that will see the vice 250 working racks. at NBB, said: “The current shift designed for the banking and introduced by the bourse. Bahrain Bourse checks both Group’s core IT infrastructure Batelco CEO, Mikkel Vinter, is a strategic move towards a finance sector and other ver- Bahrain Bourse Chief Exec- these key criteria, while also being moved and hosted within and General Manager of Enter- complete digital transforma- ticals.” utive Officer, Shaikh Khalifa reinforcing Bahrain’s position Batelco’s Hamala Data Center. prise, Abderrahmane Mounir, tion at NBB Group, and given the “Additionally, customers us- bin Ebrahim Al Khalifa, the as a regional banking and fi- NBB officials signed the deal welcomed NBB’s Group Chief recent upgrades to the bank’s ing our Data Center services CBB Executive Director of nance hub,” he said. during a visit to the newly Operating Officer Ian Blacklaw, services, we aim to adopt an are provided with continuous Banking Operations, Shaikh “We are pleased to welcome opened Batelco Data Center in Razi Amin, Head of Information independent techno-centric support from Batelco’s 24-hour Salman bin Isa Al Khalifa, and Ithmaar Bank on to the plat- Hamala - the ‘largest’ enterprise Technology at NBB, and Osama model of operation to further Network Operations Centre and the Ithmaar Bank Chief Ex- form, and are confident it will Data Center in Bahrain. Ali Nasr, Chief Information Of- enhance our performance and business-continuity manage- ecutive Officer, Ahmed Abdul help further enhance their With an area of 12,236 square ficer at Bahrain Islamic Bank. expand our service offerings.” ment facilities,” he added. Rahim, signed an electronic customers’ Islamic banking meters, the Center has a total Commenting, Iain Blacklaw, “Batelco’s new Data Center copy of the deal during a live experience,” said Shaikh Khal- video call. ifa. “We hope other Islamic “Ithmaar Bank is committed retail follow suit, and to becoming the Islamic retail we look forward to welcoming bank of choice,” said Abdul other banks on board shortly,” ASU signs deal with JAFCON for Productivity Improvement Rahim. “To do so, we invest he said. TDT | Manama

he Applied Science Uni - Tversity announced sign- ing a deal with “JAFCON Con- sultants for Productivity Im- sells Kee provement” to train Univer- sity students to enhance their Safety Group skills and advantage in the job market. TDT | Manama Professor Ghassan Aouad, President of the University and nvestcorp yesterday agreed Dr Akbar Jaffari, CEO of JAF- Officials during the deal signing Ito sell Kee Safety Group Ltd CON, signed the deal. to its management team, sup- The agreement enrols ASU Professor Ghassan Aouad said ation and learn more about the perience of the field they will ported by Intermediate Capital students and graduates in the the deal aims at helping stu - nature of the labour market and be working and interacting with Group. “Eqtidar (Ability) Programme dents obtain practical real-life its needs. after graduating. Established in the UK in 1934 for productivity improvement”, training to land jobs matching The programme also aims at and headquartered in Crad- supported by TAMKEEN. their qualifications after gradu- giving students a hands-on ex- ley Heath, Kee Safety is the leading global provider of Fall Protection and Safe Access solutions and products asso- Mohamed Al Sada ciated with working at height. try it operates in. Since our Alba receives ISO 22301:2012 certification in Business Investcorp acquired Kee acquisition, we have worked Safety in November 2017 and closely with the management Continuity Management System has worked closely with the team to achieve what is today management team to drive a success story for both Invest- both organic and inorganic corp and Kee Safety. We are international growth, whilst pleased to have been part of expanding Kee Safety’s mar- the company’s growth journey, ket-leading product offering. and we wish the team all the Under Investcorp’s owner- best in their years to come.” ship, Kee Safety accelerated its Chris Milburn, Chairman growth trajectory, surpassing of Kee Safety, added: “Invest- £100m in sales and growing corp has been a true partner EBITDA at a double-digit rate. to us over the last three and a Moreover, the Company has half years. As a management completed fifteen acquisitions, team, it has been extremely expanding its geographic foot- important to share our growth Bureau Veritas, in line with the United Kingdom Accreditation Service, conducted the audit, which covered all departments in Alba print in Europe, North Amer- journey with the right partner, ica, Asia and the Middle East. capable of supporting us in a TDT | Manama Alba’s ability to continue its BCMS and Emergency Response and this certificate validates our Mohamed Al Sada, Head of period of strong development business operations despite Plans has helped us to navigate resilience and ability to pursue Bahrain and Kuwait for Invest- in North America, the Middle luminium Bahrain an - disruptions and adherence through the COVID-19 crisis, excellence in everything we do.” corp’s Private Wealth, said: East and Asia. We have valued Anounced receiving the ISO to best practices as per the keep our people safe and en - Bureau Veritas (BV), in line “When Investcorp acquired Investcorp’s constructive ap- 22301:2012 certification for BCMS. sure the sustainability of our with the United Kingdom Ac- Kee Safety in 2017, we were proach and benefited from its Business Continuity Manage- Alba’s Chief Executive Of- operations. Our continuous creditation Service (UKAS), con- able to see the potential that global mindset throughout our ment System. ficer, Ali Al Baqali, said: “The improvements are to prepare, ducted the audit, which covered the company has in the indus- journey together.” The certification reflects early implementation of our respond and recover from crises all departments in Alba.