The Financial Thread - Page 3

Bahraini Spirit · April 15th, 2007, 11:36 PM

Pioneer Investments to open Bahrain office

MANAMA: The Central Bank of Bahrain (CBB) has granted a licence to Pioneer Global Investments Limited (Pioneer Investments), a global firm involved in investment business.

Pioneer Investments intends to establish a representative office in Bahrain, its first presence in the Middle East and North Africa (MENA) region, the CBB said in a statement.

The firm is wholly owned by Pioneer Global Asset Management SPA, the asset management arm of UniCredito Italiano Banking Group - the second largest bank in Italy and ranked 47 internationally.

UniCredito is rated AA by leading international rating agencies Standard and Poor's and Fitch.

Through Pioneer Investments, the Bahrain operation will be UniCredito's first venture in the region.

Pioneer Investments is a global investment management firm with over $278 billion in assets under management.

The group, with offices in 22 countries around the world, offers a range of investment solutions, including mutual funds, alternative investments, and structured products.

The Bahrain office of Pioneer Investments will explore business opportunities in the Middle East region.

It will also provide Pioneer Group clients and potential clients with the group's core investment services and products.

The firm will target institutional investors as well as high net worth individuals.

"The CBB is delighted to welcome Pioneer Investments to Bahrain," said CBB licensing and policy director Ahmed Abdul Aziz Al Bassam. "The environment for wealth management products is particularly positive, due to increased liquidity levels, as well as challenging due to the growing sophistication of high net worth individuals (HNWIs)."

According to industry reports, the Middle East was the fastest growing market in the world in 2005-2006, with the number of high net worth individuals (those with at least $1 million in net assets) rising to 300,000.

This number is forecast to grow to 500,000 by 2010.

Mr Al Bassam said that globally, more and more such individuals are reallocating funds to emerging markets and Arabs are no different.

With an estimated collective wealth of $1.3 trillion, forecast to grow to $1.8 trillion by 2010, the environment for wealth management professionals is expected to remain lucrative for the coming years.

"Bahrain serves as an excellent base for not only servicing the region's HNWIs (High Net Worth Individuals), but to explore and source investment opportunities in the broader MENA region as well," said Mr Al Bassam.

"We are confident that a well-reputed, global firm such as Pioneer will add value to growing community of professional asset managers in Bahrain."

Bahraini Spirit · April 29th, 2007, 11:10 PM

This is a fantastic addition:

Reuters takes BFH office

Reuters will open an office at the $1.5bn Bahrain Financial Harbour, Gulf Daily News reported. The news agency has agreed to take space in the 53-storey Harbour Towers, due to open next Wednesday.

bukuwara · May 2nd, 2007, 05:35 PM

Quote:

Originally Posted by Bahraini Spirit

This is a fantastic addition:

Reuters takes BFH office

Reuters will open an office at the $1.5bn Bahrain Financial Harbour, Gulf Daily News reported. The news agency has agreed to take space in the 53-storey Harbour Towers, due to open next Wednesday.

Yeahhh ... MNC start see the prospect of Bahrain

Everything will be more expensive then

just like in property market

Bahraini Spirit · May 12th, 2007, 06:23 PM

^ Would would that make things more expensive??? I don't see the direct link.

Bahrain bank boom

Bahrain's banking business is booming, with local banks having increased their assets by $40bn to $187.4bn this year, according to central bank figures cited by Gulf Daily News. The statistics showed that 55 new financial institutions were granted licences over the past 12 months, including 11 banks and nine representative offices for foreign banks. Banks currently employ 10,000 Bahrain nationals, with 1,500 new jobs being created every year, according to the report.

asif iqbal · June 7th, 2007, 10:38 PM

In the last emposide of Inside the Middleast on CNN Hola Gorani traveled to Bahrain and there are 1000s of people in Bahrain who live in cramped and poor conditions who dont have access to clean drinking water like Africa, it was a shocking site!

The goverment dont allow them health care and they are not allowed to take goverment positions and arent allowed educations. This is shocking and a cover-up from Bahrain goverment who advertise themselves as a so called developed nation, whats point in investment when the people dont even have proper houses!

***B-Patriot*** · June 8th, 2007, 12:19 AM

Cramped.. Poor living conditions... Yeah.. its a problem... But if there are any ppl wiith no access to clean drinking water... They'd only be a handful...

And Healthcare is free for all citizens... And heavily subsidized for all resident expats as far as i know... Education up to 12th grade is provided free at public schools.. Even expats can study at these public schools for free i think...

There is a bit of a cover up of the extent of poverty in Bahrain... But ur description of it sounds unbelievable... And doesn't make much sense either!

asif iqbal · June 8th, 2007, 01:14 AM

Yes thats what I said, thats what was on Inside Middleast not some random romour, cast system exists in Bahrain and thay why the wealth doesnt go down to the people who need.

***B-Patriot*** · June 8th, 2007, 01:30 AM

Quote:

Originally Posted by asif iqbal

Yes thats what I said, thats what was on Inside Middleast not some random romour, cast system exists in Bahrain and thay why the wealth doesnt go down to the people who need.

I know, thats why i'm surprised... But they either really exaggerated, or u misunderstood or something.. Wtf i mean.. What cast system... I just explained to you... People get free health-care.. Free education.. Unemployment benefits... Poor people get lots of different things subsidized...

It can still be unfair to some sometime... Not easy... But for a hardworking poor person... With Education being free, and the availability of many scholarships... Even to the public univeristy, which is Very cheap.. Anyone can better their living conditions...

Many people living in really bad conditions were given new houses by the King... To help their situation...

But with some of these people.. they're ppoor... and have babies like rabbits... Like seriously, by the dozens... 12... 13... Maybe even have multiple wives... When that's the case.. ofcourse their living conditions might be very poor...

Otherwise, what ur saying the show talked about doesn't make Sense..

Elmahri · June 9th, 2007, 03:45 PM

Quote:

Originally Posted by asif iqbal

In the last emposide of Inside the Middleast on CNN Hola Gorani traveled to Bahrain and there are 1000s of people in Bahrain who live in cramped and poor conditions who dont have access to clean drinking water like Africa, it was a shocking site!

The goverment dont allow them health care and they are not allowed to take goverment positions and arent allowed educations. This is shocking and a cover-up from Bahrain goverment who advertise themselves as a so called developed nation, whats point in investment when the people dont even have proper houses!

People don't have access to clean water!!! that is B.SH.
Education and Health are free in bahrain for everybody even the expats so how come those 1000s people are not allowed to get them?
I agree with B-Patriot it is really exaggerated, you never know whats the purpose behind that.

***B-Patriot*** · June 9th, 2007, 08:36 PM

Quote:

Originally Posted by asif iqbal

Yes thats what I said, thats what was on Inside Middleast not some random romour, cast system exists in Bahrain and thay why the wealth doesnt go down to the people who need.

My own family came from a very 'humble' background.. Meaning my dad's generation... like... 20 years ago.. Him n his brothers... They're all 100% self-made.. And now we're considered quite well-off...

I can think of many families like that... And many similar 'success' stories that are less dramatic, but more recent... Soo when was this cast system created?? 2007?

smussuw · June 9th, 2007, 10:58 PM

I think asif iqbal believes in CNN more than you guys.

asif iqbal · June 9th, 2007, 11:37 PM

Quote:

Originally Posted by smussuw

I think asif iqbal believes in CNN more than you guys.

Yes I do because its on sky and sky digital can never ever be wrong. They even said that a women cannot vote but a horse can!

Garden city · June 10th, 2007, 06:11 AM

Quote:

Originally Posted by Elmahri

People don't have access to clean water!!! that is B.SH.
Education and Health are free in bahrain for everybody even the expats so how come those 1000s people are not allowed to get them?
I agree with B-Patriot it is really exaggerated, you never know whats the purpose behind that.

Even i saw that show. They have blown things out of proportion, It seems they were not interested in discussing the good things in Bahrain. Its all a propoganda by these western channels who want to keep the people in the middle-east figthing amongst themselves. As if America is free of all such issues. There is more racism in America and UK then anywhere in the world.

Adel · June 10th, 2007, 04:56 PM

MTC will relocate their headquarters from Kuwait to Bahrain. Their second option was Dubai.

asif iqbal · June 10th, 2007, 05:37 PM

Quote:

Originally Posted by Garden city

Even i saw that show. They have blown things out of proportion, It seems they were not interested in discussing the good things in Bahrain. Its all a propoganda by these western channels who want to keep the people in the middle-east figthing amongst themselves. As if America is free of all such issues. There is more racism in America and UK then anywhere in the world.

US maybe but not UK. UK is much more civilised.

***B-Patriot*** · June 10th, 2007, 07:53 PM

Quote:

Originally Posted by Adel

MTC will relocate their headquarters from Kuwait to Bahrain. Their second option was Dubai.

Really!? That's ggreat... I haven't read or heard about that...!

Isn't it a Kuwaiti company, the MTC thing..?

***B-Patriot*** · June 10th, 2007, 07:54 PM

Quote:

Originally Posted by asif iqbal

Yes I do because its on sky and sky digital can never ever be wrong. They even said that a women cannot vote but a horse can!

I can't tell what that is.. Some sort of sarcasm... What's that..

Garden city · June 11th, 2007, 05:14 AM

Quote:

Originally Posted by asif iqbal

US maybe but not UK. UK is much more civilised.

Dude, from where did you get that info?

asif iqbal · June 11th, 2007, 04:50 PM

Quote:

Originally Posted by Garden city

Dude, from where did you get that info?

Why does everything have to be from a source? Are you that insecure otherwise you wouldnt ask.

Quote:

Originally Posted by B-Patriot

I can't tell what that is.. Some sort of sarcasm... What's that..

No its true, in Bahrain a women cannot vote but a horse can!

***B-Patriot*** · June 11th, 2007, 06:31 PM

LoL... I don't get if that's supposed to be funny, true.. or Both...

Either way, its very wrong... Women vote, run as Candidates for parliamentary elections... And horses most definately cannot vote

April 15th, 2007, 11:36 PM	#41
Bahraini Spirit Registered User Join Date: Dec 2002 Location: Bahrain; London Posts: 4,153 Likes (Received): 0	Pioneer Investments to open Bahrain office MANAMA: The Central Bank of Bahrain (CBB) has granted a licence to Pioneer Global Investments Limited (Pioneer Investments), a global firm involved in investment business. Pioneer Investments intends to establish a representative office in Bahrain, its first presence in the Middle East and North Africa (MENA) region, the CBB said in a statement. The firm is wholly owned by Pioneer Global Asset Management SPA, the asset management arm of UniCredito Italiano Banking Group - the second largest bank in Italy and ranked 47 internationally. UniCredito is rated AA by leading international rating agencies Standard and Poor's and Fitch. Through Pioneer Investments, the Bahrain operation will be UniCredito's first venture in the region. Pioneer Investments is a global investment management firm with over $278 billion in assets under management. The group, with offices in 22 countries around the world, offers a range of investment solutions, including mutual funds, alternative investments, and structured products. The Bahrain office of Pioneer Investments will explore business opportunities in the Middle East region. It will also provide Pioneer Group clients and potential clients with the group's core investment services and products. The firm will target institutional investors as well as high net worth individuals. "The CBB is delighted to welcome Pioneer Investments to Bahrain," said CBB licensing and policy director Ahmed Abdul Aziz Al Bassam. "The environment for wealth management products is particularly positive, due to increased liquidity levels, as well as challenging due to the growing sophistication of high net worth individuals (HNWIs)." According to industry reports, the Middle East was the fastest growing market in the world in 2005-2006, with the number of high net worth individuals (those with at least $1 million in net assets) rising to 300,000. This number is forecast to grow to 500,000 by 2010. Mr Al Bassam said that globally, more and more such individuals are reallocating funds to emerging markets and Arabs are no different. With an estimated collective wealth of $1.3 trillion, forecast to grow to $1.8 trillion by 2010, the environment for wealth management professionals is expected to remain lucrative for the coming years. "Bahrain serves as an excellent base for not only servicing the region's HNWIs (High Net Worth Individuals), but to explore and source investment opportunities in the broader MENA region as well," said Mr Al Bassam. "We are confident that a well-reputed, global firm such as Pioneer will add value to growing community of professional asset managers in Bahrain." __________________ <<_>>Live your life, let no one hinder!!!<<_>>

April 29th, 2007, 11:10 PM	#42
Bahraini Spirit Registered User Join Date: Dec 2002 Location: Bahrain; London Posts: 4,153 Likes (Received): 0	This is a fantastic addition: Reuters takes BFH office Reuters will open an office at the $1.5bn Bahrain Financial Harbour, Gulf Daily News reported. The news agency has agreed to take space in the 53-storey Harbour Towers, due to open next Wednesday. __________________ <<_>>Live your life, let no one hinder!!!<<_>>

May 12th, 2007, 06:23 PM	#44
Bahraini Spirit Registered User Join Date: Dec 2002 Location: Bahrain; London Posts: 4,153 Likes (Received): 0	^ Would would that make things more expensive??? I don't see the direct link. Bahrain bank boom Bahrain's banking business is booming, with local banks having increased their assets by $40bn to $187.4bn this year, according to central bank figures cited by Gulf Daily News. The statistics showed that 55 new financial institutions were granted licences over the past 12 months, including 11 banks and nine representative offices for foreign banks. Banks currently employ 10,000 Bahrain nationals, with 1,500 new jobs being created every year, according to the report. __________________ <<_>>Live your life, let no one hinder!!!<<_>>

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June 7th, 2007, 10:38 PM	#45
asif iqbal Registered User Join Date: Sep 2006 Location: Scotland Posts: 912 Likes (Received): 1	In the last emposide of Inside the Middleast on CNN Hola Gorani traveled to Bahrain and there are 1000s of people in Bahrain who live in cramped and poor conditions who dont have access to clean drinking water like Africa, it was a shocking site! The goverment dont allow them health care and they are not allowed to take goverment positions and arent allowed educations. This is shocking and a cover-up from Bahrain goverment who advertise themselves as a so called developed nation, whats point in investment when the people dont even have proper houses!

June 8th, 2007, 12:19 AM	#46
*B-Patriot* Registered User Join Date: Mar 2005 Location: BarBar City Posts: 2,797 Likes (Received): 0	Cramped.. Poor living conditions... Yeah.. its a problem... But if there are any ppl wiith no access to clean drinking water... They'd only be a handful... And Healthcare is free for all citizens... And heavily subsidized for all resident expats as far as i know... Education up to 12th grade is provided free at public schools.. Even expats can study at these public schools for free i think... There is a bit of a cover up of the extent of poverty in Bahrain... But ur description of it sounds unbelievable... And doesn't make much sense either!

June 8th, 2007, 01:14 AM	#47
asif iqbal Registered User Join Date: Sep 2006 Location: Scotland Posts: 912 Likes (Received): 1	Yes thats what I said, thats what was on Inside Middleast not some random romour, cast system exists in Bahrain and thay why the wealth doesnt go down to the people who need.

June 9th, 2007, 10:58 PM	#51
smussuw Patriotic Emirati Join Date: Feb 2004 Location: Dubai Posts: 7,335 Likes (Received): 2	I think asif iqbal believes in CNN more than you guys.

June 10th, 2007, 04:56 PM	#54
Adel Registered User Join Date: Apr 2006 Posts: 1,713 Likes (Received): 3	MTC will relocate their headquarters from Kuwait to Bahrain. Their second option was Dubai.

June 11th, 2007, 06:31 PM	#60
*B-Patriot* Registered User Join Date: Mar 2005 Location: BarBar City Posts: 2,797 Likes (Received): 0	LoL... I don't get if that's supposed to be funny, true.. or Both... Either way, its very wrong... Women vote, run as Candidates for parliamentary elections... And horses most definately cannot vote