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TWITTER CELEBS @newsofbahrain BUSINESS 10 NBK net profit rises 26pc to $313 million INSTAGRAM MJ’s estate assails HBO /nobmedia 10 plans for documentary LINKEDIN SUNDAY newsofbahrain FEBRUARY 2019 Michael Jackson’s estate 200 FILS HBO WHATSAPP is calling ’s decision 38444680 ISSUE NO. 8018 to air a documentary that includes allegations from FACEBOOK /nobmedia two men that the superstar molested them “disgrace- MAIL [email protected] ful” and is urging the cable network to further investi- WEBSITE newsofbahrain.com gate their backgrounds.P14 Kendall Jenner, Ben Simmons enjoy special dinner 14 CELEBS OPED 8 Trump’s new Middle East policy: Let Iran do what it wants Ensure eective implementation of VAT 80008001 For inquiries & complaints www.nbr.gov.bh @BahrainNBR Life in jail for terrorists Tunis Tunisian court has sen- Atenced seven extremists Fiscal prudence call to life in prison over attacks at a museum and on a beach in 2015 that killed 60 peo- IMF boss urges stronger fiscal frameworks to tackle region’s economic issues ple, many of them British tourists, prosecutors said yesterday. Ms Lagarde said Dozens of defendants • faced two separate trials over there was scope the closely linked shootings, to improve fiscal which occurred just months frameworks in the apart in Tunis and Sousse, region, to offset the but many were acquitted. Four were sentenced to impact of short- life in prison for the shooting termism and lack of rampage at a Sousse tourist fiscal credibility. resort in June 2015, which killed 38 people, mostly Dubai British tourists. hristine Lagarde, manag- ing director of the Inter- national Monetary Fund, C Finance Minister Shaikh Salman bin Khalifa Al Khalifa holding talks with Ms Lagarde in the presence of Central Bank of Bahrain Governor Rasheed Al Maraj. has warned that the economies of the Middle East face a chal- DON’T MISS IT lenging time, and that stronger downgraded its forecasts for remain high, and public debt has ing. This makes the task of fiscal fiscal frameworks are required global growth. risen rapidly—from 64 per cent policy that much harder, which to tackle the region’s macro-eco- “Unfortunately, the region of GDP in 2008 to 85pc of GDP a in turn makes it even more im- Bahrain’s pan- nomic issues. has yet to fully recover from the decade later. Unfortunately, the portant to build strong founda- Speaking ahead of the opening global financial crisis and other “Public debt now exceeds region has yet to fully tions to anchor fiscal policy”. Arab stances day of the World Government big economic dislocations over 90pc of GDP in nearly half of She said that there was scope 03 recover from the global stressed Summit in Dubai, Lagarde also the past decade,” she told re - these countries,” Ms Lagarde to improve fiscal frameworks in warned of the impact for region- gional finance ministers. said. financial crisis and the region, to offset the impact Bahrain al economies if further measures “Among oil importers, growth She went on: “The oil export- other big economic of short-termism and lack of to implement good governance has picked up, but it is still below ers have not fully recovered from dislocations. fiscal credibility. International practice and transparency were pre-crisis levels. Fiscal deficits the dramatic oil price shock of MS LAGARDE Pakistan’s Prime Minister Im- 04 Design Week not put in place. 2014. Modest growth continues, ran Khan, actor Harrison Ford concludes The IMF is planning talks but the outlook is highly uncer- and Lebanese Prime Minister with regional policymakers to tain—reflecting in part the need This has led to a sharp increase Saad Hariri are among 4,000 implement new frameworks for countries to shift rapidly to- in public debt—from 13pc of GDP delegates who will attend the Global co-operation to strengthen governance and ward renewable energy over the in 2013 to 33pc in 2018.” three-day event, along with Es- urged to tackle tackle corruption, “the great new few decades, in line with The bottom line, the IMF boss tonia’s prime minister Jüri Ratas disruptor of fiscal policy,” she 4,000 the Paris Agreement. said, is that “the economic path and President of Rwanda Paul 05 proliferation of delegates are expected chemical weapons added. to attend the high-profile “With revenues down, fiscal ahead for the region is challeng- Kagame. Her hard-hitting analysis of event hosted by the Dubai deficits are only slowly declin- the region’s economic prospects Government. ing—despite significant reforms come against the background of on both the spending and reve- a weakening outlook for global nue sides, including the intro- economies. The IMF recently duction of VAT and excise taxes. 22nd February 2019 02 SUNDAY, FEBRUARY 10, 2019 SUNDAY, FEBRUARY 10, 2019 03 Bahrain’s pan-Arab stances stressed Leading Arab leaders including former presidents, prime ministers and foreign ministers attend the conference and strengthening inter-Arab Mr Al Mutawa relations in a way that would • strengthen the Arab Nation’s expressed hope that The government, led capabilities and solidarity in the conference will by His Royal Highness dealing with various threats. reach, through the Prime Minister Prince The Cabinet Affairs Minister proposed document, a Khalifa bin Salman affirmed that the government, Al Khalifa, will never led by His Royal Highness comprehensive Arab Prime Minister Prince Khalifa vision to serve as a road hesitate to back any stance or collective bin Salman Al Khalifa, will nev- map for dealing with er hesitate to back any stance action aimed at challenges currently or collective action aimed at strengthening Arab strengthening Arab cohesion, faced by Arab countries. cohesion. out of its strong belief in the MR AL MUTAWA importance of joint Arab action. Minister Al Mutawa Mr Al Mutawa speaks at the conference. He expressed hope that the highlighted• the firm Egypt and its Permanent Rep- The minister stressed the economic and security chal - lighted the firm stance of the conference will reach, through stance of the Kingdom, resentative to the Arab League importance of the conference lenges currently facing many Kingdom, under the leadership the proposed document, a com- (AL), Shaikh Rashid bin Abdul- which, he said, aims to issue the Arab countries, and constitute a of His Majesty King Hamad prehensive Arab vision to serve under the leadership of rahman Al Khalifa, also attend- “Arab Document to Strengthen direct threat to the Arab nation- bin Isa Al Khalifa, in support as a road map for dealing with His Majesty King Hamad ed the session, held yesterday Solidarity and Face Challeng- al security in its various aspects. of everything aimed at con - challenges currently faced by bin Isa Al Khalifa, in at the AL’s headquarters here. es” in the midst of the political, Minister Al Mutawa high - solidating joint Arab action Arab countries. support of everything The high-level Arab leaders’ conference attracted former aimed at consolidating presidents, prime ministers joint Arab action. and foreign ministers of some Arab countries, in addition to Cairo an elite of senior Arab intel - lectuals, politicians and media abinet Affairs Minister, personnel. Mohammed Al Mutawa, The “Arab Document to Cparticipated in the open- Strengthen Solidarity and Face ing session of the conference Challenges” to be issued by the of high-level Arab leaders, at conference will be submitted the invitation of the Arab Par- by the Arab Parliament to the liament. Arab Summit, due to be hosted Bahrain’s Ambassador to Mr Al Mutawa with delegates of other Arab countries at the conference. by Tunisia in March. SUNDAY, FEBRUARY 10, 2019 04 Bahrain International Design Week concludes Expo aimed to project Manama as the capital of design among the Gulf States TDT | Manama lating creativity and innovation. “Bahrain International Week ahrain International mainly focused on the design Design Week ( BIDW), Bahrain International sector and its interaction with Ba platform dedicated to Week mainly focused on the community, investors and gathering artists, creators and new companies, creating new designers, offering the latest in a the design sector and opportunities and discussions on unique style and design spanning its interaction with the best practices and trends in the personal, architecture, interiors community, investors design sector for collaboration. design, and services design con- and new companies. “It is also noted that today’s cluded yesterday. MR ALI economy is based on knowledge Held at the Avenues Bahrain, in the field of design and inno- the International Design Week vation that enhances the growth is a touring exhibition that in- regional designers. of the industrial sectors and we cludes accompanying events, “This exhibition offered an hope that the Bahrain Interna- workshops and sessions hosting opportunity to promote Manama tional Design Week will be the expert speakers from and outside as the capital of design among event that connects consumers Bahrain. the Gulf States. It will also serve to the business sector and the The event, held under the as a platform for activating and spirit of innovation. patronage of Capital Governor developing the creativity and ex- “Both participants and visitors Shaikh Hisham bin Abdulrah- change of ideas that characterise enjoyed the best international man Al Khalifa, was organised modern and successful cities. and oriental cuisine that were by All In One Services, a lead- “The exhibition served a plat- served in a culinary style, located ing company in exhibition and form to strengthen co-operation in the dining area with a back- conference services as well as between the current efforts in drop of architectural style in the Gallure and Twiser Management the region and how to benefit heart of the service department.” Company and 1A Services.