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Bahrain Bourse buoyant on banks
- Bahrain: Sunday, October 14 - 2012 at 16:22
The Manama-based Bahrain All-Share Index rose against the sluggish regional trend Sunday, closing 0.40% higher at 1,069.86 points. Ahli United Bank surged 1.90%, while Bank of Bahrain and Kuwait closed one percent higher. Islamic bank Gulf Finance House or GFH dived by seven percent. Earlier in the GFH said it received direct access approval to connect the Energy City Navi Mumbai (ECNM) and Mumbai IT & Telecom City (MITTIC) projects (together named the Mumbai Economic Development Zone) to the Mumbai - Pune Highway, "considered the most important industrial corridor in India" (according to GFH), has been acquired by the Project Company. Connection to all major utilities will also be provided via the newly acquired access channel. "The Mumbai Economic Development Zone (MEDZ) is a joint development project between GFH and the Wadhwa Group, an eminent real estate developer in India. The project is GFH's flagship development project in India," GFH added.
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Gérard Al-Fil, Financial JournalistSunday, October 14 - 2012 at 16:22 UAE local time (GMT+4)
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