Monday 14 July 2014
 
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Bahrain officials reject $1.6bn payout criticism

Top government officials have rejected criticism after Bahrain allegedly paid out BD600 million ($1.6 billion) to foreign owned companies last year. Some MPs have alleged firms from countries such as the UK and US were given prior

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Bahrain Air investors face action over payout

Investors in liquidated airline Bahrain Air are being threatened with legal action unless they hand over outstanding severance package payments, a report said. Hundreds of former employees are still waiting for the second half of

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Bahrain Air payout ‘may top $5.8m’

Severance packages for former Bahrain Air staff could cost a combined total of BD2.2 million ($5.83 million), unionists said. Ex-employees were expected to start receiving their redundancy payouts yesterday or today, Bahrain Air T

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Bahrain Air approves staff payout deal

Former staff at Bahrain Air will get 24 days' pay for every year they worked for the carrier, a report said, adding that they will also receive compensation for their notice period and leave until the end of February 12. Meanw

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Al Ansari, Pakistan bank in remittance tie-up

Al Ansari Exchange, a leading remittance and foreign exchange services firm, has tied up with Pakistan’s Tamer Bank, facilitating instant money transfer from the UAE to 20,000 payout locations in Pakistan. Tamer Bank recently entered into

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Bahraini firm wins $3.76m payout

Bahrain Foundation Construction Company (BFCC) has won a BD1.42 million ($3.76 million) payout after filing a case against Korean firm Sungwon Corporation. The company has also been awarded BD45,500 in costs by the Bahrain Chamber for Disp

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Lloyds net loss surges to $4.4bn on exposure

Lloyds Banking Group (LBG) has capped a bad week for Britain's state-rescued lenders by announcing losses of billions of pounds due to huge compensation payouts and euro zone debt exposure. A day after Royal Bank of Scotland (RBS) said

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Bahrain’s traders hope for payouts

Traders at Bahrain’s Manama Central Market could be compensated for heavy losses due to protesters occupying the loading areas and customer car parks, preventing easy access to the area. They have complained to the Manama Municipality that

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Kuwait plans monthly pay-out to laid off citizens

Kuwait, the world's fourth largest oil exporter, will pay monthly benefits to citizens who have lost jobs in the private sector in the wake of the global financial crisis. The cabinet approved measures on Monday that would give laid off Ku

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NBF to distribute 15pc cash dividend

National Bank of Fujairah (NBF) has approved a 15 per cent cash dividend for its shareholders at the bank's annual ordinary general meeting (AGM) on Monday in Fujairah.  The dividend shall be distributed to the shareholders recorded

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