BUSINESS8 Wednesday, October 25, 2017

BHB launches online trading platform

KHCB is the first financial institution to participate in ‘Bahrain Trade’ Manama

Khaleeji Commercial Bank (KHCB) and Mubasher

signed yesterday an agreement to launch “Bahrain Trade”, an innovative trading solution that enables investors to trade on Bahrain Bourse (BHB) online.

The solution powered by Mubasher is endorsed by Bahrain Bourse. KHCB is the first participating financial institution to offer this unique service to their client base.

The agreement was signed by Tawfeeq Mohamed Bastaki,

Chief Risk Officer - Acting CEO of KHCB and Zaid Aloul, General Manager of Mubasher Financial Services at Bahrain Bourse premises in the presence of Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse and executive management members.

Commenting on the agreement, Tawfeeq Mohamed Bastaki said, “The platform will make the process easier by facilitating trades through an application that will be available through smart devices, which is expected to

be launched by the bank in the first quarter of 2018.”

For his part, Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse explained that the services will link investors directly to the trading floor through an interactive platform.

This, he said, will allow investors benefit from all investment opportunities available in all financial instruments listed at the Bourse.

Shaikh Khalifa also pointed out that the service enables

investors to select “what suits their objectives without the need for dealing with a broker.”

“We are looking forward to having other banks and financials follow the step taken by Khaleeji Commercial Bank to enjoy the range of opportunities that Bahrain Trade can offer,” Shaikh Khalifa added.

Zaid Aloul, General Manager of Mubasher Financial Services said, “This is an important step towards offering innovative ways of trading.  “We will continue to strengthen and

enhance this partnership with various banks,” Aloul added.

It is worth mentioning that “Bahrain Trade” is Bahrain Bourse’s latest customer-centric initiative, jointly led and powered by Mubasher, one of the licensed brokers on Bahrain Bourse and the Middle East Region’s leading brokerage services provider, that has been designed to provide investors with high-tech safety for execution of transactions as well as convenience and ease of use.

© GRAPHIC NEWSSources: Associated Press, HydroWorld, Salini Impregilo

Construction: Launched inDecember 2010. Dam likely to befinished late 2017 or early 2018

Power: 6,400MW – big boost forEthiopia’s 100 million people, most ofwhom lack access to electricity

Reservoir: 74bn cubic metres ofwater – equivalent to entire annualflow of Blue Nile at Sudan border

Impact: Downstream countriesfear dam will reduce water supplies.Blue Nile supplies 60 percent of waterthat reaches Nile – main water sourcefor Egypt’s 93 million people

Cost: $5 billion

Ethiopia is finalizing construction of the Grand Renaissance Dam,its first major dam on the Blue Nile, and will then start filling the giant

reservoir behind it to power Africa’s biggest hydroelectric plant

Reservoir: Covers1,680 sq km – aboutfour times as big as Cairo.Could take from fiveto 15 years to fill

Penstocks

Project also includes rockfill saddle damand gated spillway south of main dam

*Estimatedannual capacity15,000 gigawatt hours

Powerhouses16 turbines*

Main damWorld’s largestroller-compactedconcrete dam.Height: 155mLength: 1,780m

B L U EN I L E

Emergencyspillway

KENYA

SOMALIA

YEMEN

TANZANIA

UGANDA

SOUTHSUDAN

LakeVictoria

White Nile

Blue Nile

GrandEthiopianRenaissanceDam (GERD)

Nile

Khartoum

Addis Ababa

1,000km600 miles

Cairo

ETHIOPIA

SUDAN

EGYPT

Article 155 of Spain’s constitution gives Madrid power to “take allmeasures necessary” to bring a rogue region into line. The Speaker of

Catalonia’s parliament has called the measures a “de facto coup d’etat”

Source: Spanish government Pictures: Getty Images © GRAPHIC NEWS

Madrid plansto remove Catalonia’sPresident CarlesPuigdemont andentire cabinet. Centralgovernment ministers willtake over regional administration

New administrators will takecontrol of 17,000-strong Catalanpolice – Mossos d’Esquadra.Officers may be replaced by nationalpolice if deemed necessary

Catalan police chief, Josep LluísTrapero (above right), who is underinvestigation for sedition,may be removedSpanish prime minister

Mariano Rajoy has powerto dissolve Catalan parliamentand call regional elections

Ballot to be held withinsix months of direct rulecoming into force

Madrid would remain in chargeuntil new Catalan governmentis formed

Central governmenthas already increasedcontrol over regionalfinances to block use of statefunds to organize secession bid,and started paying directly foressential services.Under new proposal,Madrid keepsfinancial control

Catalan public television TV3 and radio station CatalunyaRàdio will come under central control to ensure informationtransmitted is “true, objective and balanced”

GOVERNMENT POLICE

PARLIAMENT

FINANCES

PUBLIC MEDIA

Parliament of Catalunyabuilding in Barcelona

© GRAPHIC NEWSSources: CNBC, Deutsche Welle, Reuters

Calls for independence are not unique to Spain where Catalonia’sregional government is demanding self-determination – there are several

other movements in Europe seeking self-rule

Faroe IslandsApr 2018: Will vote onnew constitution andpossible separationfrom Denmark

Scotland2014: Referendum onindependence lostwith 55% of voterschoosing to stay in UK

Basque CountryBasque NationalistParty supportsindependence

CataloniaOct 2017: Following threatsto declare independencefrom Spain, Madrid plansto impose direct rule onregion which generates20% of Spanish GDP

Corsica 2003: Referendumon independencefrom France lostby 49% to 51%

Lombardy, VenetoOct 22, 2017: Millionsvote for greaterautonomy in twinregions that contribute30% of Italy’s economy

South TyrolAnnexed to Italyfollowing World War I.Secessionistmovement wants toreunify with Austria

Flanders2019: Independence ofFlemish-speakingFlanders region fromFrench-speakingWallonia likely todominate Belgianfederal elections

DENMARK

BELGIUM

ITALYSPAIN

FRANCE

AUSTRIA

UK

Date set for Amwaj Gateway auctionManama

The Amwaj Gateway development project

will be auctioned publicly on October 31st  2017, announced Bahrain’s Judicial Committee for the Settlement of Stalled Real Estate Projects,

The auction will be held at Ministry of Justice at 11am with a starting price of BHD36 million.

Welcoming the decision, Harry Goodson-Wickes, Head of Cluttons Bahrain, said: “Cluttons has received a positive response from investors since our appointment on the project and we are excited for the future of Amwaj Gateway.”

The Amwaj Gateway development covers 33,391 square meters of land and will have a total built-up area of around 190,000 square meters once completed. The project consists of 20-storey twin-towers which accommodate 384 apartments and a two-storey building comprising of 93 townhouses. The development also includes a 143-room hotel tower.

 The project will be open to local and international buyers while aiming to encourage investment in Bahrain.

Interested bidders may contact Cluttons on +973 1756 2860  or email  auction@cluttons.com 

The agreement was signed by Tawfeeq Mohamed Bastaki, Chief Risk Officer - Acting CEO of KHCB and Zaid Aloul, General Manager of Mubasher Financial Services at Bahrain Bourse premises in the presence of Shaikh Khalifa bin Ebrahim Al-Khalifa, CEO of Bahrain Bourse and executive management members.