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Sector Expects $10 Billion Investment by 2020 2 Thursday, April 27, 2017 Thursday, April 27, 2017 3 GREAT RATES ON MONEY TRANSFER AND CURRENCY EXCHANGE GUARANTEED! Tel: 1722 8888 www.bfc.com.bh Thursday, April 27, 2017 Issue No. 7364 200 Fils www.newsofbahrain.com www.facebook.com/nobonline newsofbahrain 38444680 nob_bh DTJO3082_BFC_Flag_Globe_DT_Hamper_6.7cmX8.5cm_Flag.indd News Network 1 2/1/17 2:59 PM Manama he hotel and restaurant sector in the Kingdom witnessed a Out of our very big robustT growth of 3 per cent in fiscal country, with many 2016, according to figures released choices, does every- in the latest Bahrain Economic one notice that both the Quarterly published by the “ban” case and now Bahrain Economic Development the “sanctuary” case is Board (EDB). brought in ... This was underpinned by plans to establish 15 new five-star and ‏ @realDonaldTrump four-star hotels and beachfront resorts, with an aggregate Today’s Weather investment value of more than $10 Max Min billion over the next five years. The list of world-renowned 35°C 24°C hotel brands planning to launch Khalid Al Rumaihi new projects are: The One & Only Rumaihi, Chief Executive at Resort, Wyndham Grand Hotel, the Bahrain EDB commented: Fairmont, Vida Hotel & Resort, “These future investments in the The Address Hotel & Resort, Ibis hospitality sector will bring several Hotel and Pullman Hotel. new international hotel chains to These hotels will add to the the Kingdom and raise the profile nation’s existing portfolio of of existing ones. It is expected to over 190 hotels and resorts. This increase hotel capacity by around includes 18 five star hotels, 48 4,000 hotel rooms in the country four-star hotels, 35 three star by 2020 and fill the gaps in the hotels, 81 serviced apartments and market, especially in the mid- 11 resorts. These hotels currently market and luxury sector – for offer a capacity of more than example, in the development of 16,500 rooms, with big names all-inclusive premium resorts. such as the recently opened Four “These new developments will Seasons Hotel Bahrain Bay, ART both help to meet Rotana Amwaj Islands Hotel & rising demand Resort, Downtown Rotana, the and attract Westin and Le Meridian Hotel new visitors to Bahrain City Centre. the Kingdom. In order to continue to Bahrain showed attract new visitors and support strong growth demand, Bahrain has unveiled in tourist new star its brand-new tourism identity: numbers ‘Ours. Yours. Bahrain’ as part of in 2016, 15 Bahrain Tourism and Exhibitions witnessing Authority (BTEA)’s commitment a 6 per cent towards reinvigorating tourism. increase in P The campaign’s strategic the number 04 and infrastructure initiatives of tourist Implement ‘Zakat’ aim to increase this amount to arrivals, hotels to $1 billion by 2020, effectively receiving in private sector: doubling tourism’s contribution 12.2 million,” MP to Bahrain’s GDP from 3.6 per Al Rumaihi cent to 6.6 per cent. added. BTEA also established six international offices to help drive development and raise awareness of Bahrain’s tourism in key global come up markets such as: UK, France, India, Germany and Russia. Stressing the importance of the Kingdom’s developments in the tourism and hospitality sectors, Khalid Al P 19 in Bahrain US missile defence reaches S.Korea Sector expects $10 billion investment by 2020 2 Thursday, April 27, 2017 Thursday, April 27, 2017 3 HRH Prime Minister Prince Khalifa bin Salman Al Khalifa with Russell Mehta, father of the bride, and other Indian businesssmen on the occasion of the wedding big fat Indian wedding Harpreet Kaur/DTNN Carlton, each laying [email protected] on 450 sqm surface with stunning Manama interiors and state-of- he ‘sangeet’ function of the-art facilities, have the first big fat Indian been booked with weddingT in Bahrain is all views of the exquisite set to take place at the Ritz- Arabian Gulf waters. Carlton private island today. It will be home to The three-day wedding the hosts who have is of Diya Mehta, daughter also put up guests of business tycoon and at the Royal Suites, CEO of Rosy Blue, Russell Diplomatic Suites and Mehta, and Ayush Jatia, son other rooms. of business tycoon Amit Earlier in the day, Jatia, MD of Hardcastle the bride’s father, Restaurants (McDonald’s Russell Mehta met India Franchise). His Royal Highness The couple got engaged in Prime Minister Prince a low-key affair on December Khalifa bin Salman 19 last year. The extravaganza Al Khalifa along with The Ritz Carlton team welcoming the being held from April 26 a group of Indian guests to 28 will have over 1000 businessmen, on the occasion tweeted a couple of days ago guests from India, Belgium, of the wedding. that due to the buyout by one UK, USA and several other “I must applaud the of their clients, the hotel will countries. entire team for making sure be closed for others on April The event is a huge that everything is running 26, 27 and 28. Bookings will luxurious affair at the smoothly as we haven’t shut resume on April 29. private island. Around 250 down other commercial The Indian wedding managers and entertainers activities at the hotel,” a is expected to position the are providing support to source at the Ritz Carlton Kingdom as a ‘Prime wedding the event. The romantic told DT News. destination, with a new SEND OR EXCHANGE MONEY and serene villas of the Ritz- The Four Season Hotel ‘Island wedding’ identity. AT GREAT RATES, GUARANTEED! We aim to make a positive difference in our customers’ lives by providing fast, safe and convenient services every time! • Worldwide Money Transfer • Corporate Payments • Online Money Transfer • Payroll Services • Currency Exchange • Wholesale Services • Bill Payments /BFCBahrain /BFCBahrain Tel: 1722 8888 | www.bfc.com.bh JO3082_BFC_DT_Ads_18cmX12.8cm_Generic_Services.indd 1 2/1/17 3:31 PM 4 Thursday, April 27, 2017 Implement ‘Zakat’ in private sector: MP MP Mohammed Al Ahmed has proposed a law to make it mandatory for corporates to pay 2.5 per cent Zakat to the state from their annual net profit Muhannad Mansour/DTNN His proposal instructs to “This legislation comes in stipulates that Islam shall collected from the net profit of article shall be subjected to [email protected] make it mandatory for public line with the Islamic Sharia. be the religion of the State, the Bahraini public and closed imprisonment for a term not and closed shareholding These amounts should Islamic Sharia a main source shareholding companies. These exceeding three years and a Manama companies in Bahrain to pay be deposited in the state of legislation, and Arabic the companies shall determine fine not exceeding BD5000, or lawmaker yesterday 2.5 per cent of their annual net exchequer. The Supreme official language. Zakat is the amount of Zakat they’re either with the judgment to called for implementing profit to the state. Council for Islamic Affairs the third pillar of Islam. It is obliged to annually pay while pay the required amount,” The theA ‘Zakat’ rule in the “The absence of Zakat shall determine the aspects necessary to formulate a law to presenting their annual budget MP added. Kingdom, demanding private system in Bahrain contributed of disbursement of these enforce the rule Islam,” the MP to the government”. The second article stipulates establishments to pay a significantly to the creation of amounts in accordance with said in a letter attached to his It also mentioned that they that the Finance Ministry percentage of their annual net a gap between rich and poor the Islamic Sharia, whether it’s proposal. are granted the choice to shall collect the percentage profits to the government. classes in the society. This law for the poor and the needy He called upon the Legislative dedicate a percentage of their prescribed in the first article in MP Mohammed Al Ahmed will consolidate the efforts or those entitled to benefits and Legal Affairs Committee in Zakat to be donated to a public favour of the General Treasury yesterday presented a bill to of many families of Bahraini such as the social and anti- the council to promptly look service or to the eligible needy of the State in the manner implement the Zakat system, merchants known for their inflation allowances, as well as into the proposal before the parties. regulated by this law and its which is the third pillar of charity work and those who pensioners,” the legislator said, end of the current legislative “Whoever submits false executive regulations. Islam that instructs the faithful established their private zakat adding that similar procedures term, which is scheduled to end information or fails to The proposal was submitted to dedicate a percentage offices,” said Al Ahmed, who’s are implemented in regional by next year. provide it with the purpose to the committee which is of one’s annual income to also the Deputy Chairman of countries including Kuwait. The first article of the bill of evading payment of the tasked to study and review it charitable causes, on private the Council’s Financial and “The second Article of stipulates that “a percentage of percentage referred to in the before issuing its report within establishments. Economic Affairs Committee. the Kingdom’s Constitution 2.5 per cent shall be annually first paragraph of this first eight weeks from now. Young inventor honoured DT News Network [email protected] Manama primary school student who recently invented Aa device that purifies air inside classrooms to help her classmates with special needs was honoured yesterday by a senior state official. Supreme Council for Women (SCW) General Secretary Dr. Hala Al Ansari received Juwairiya Al Siddeeqi and a number of her fellow students of Al Orooba Primary Girls’ School.
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