Saturday 25 April 2015
 
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Payout delay agony for Bahrain Air staff

Today (February 12) marks the second anniversary of Bahrain Air going into liquidation, leaving hundreds of employees without a job and thousands of customers out of pocket. Millions of dinars are still owed by the former airline,

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Big Saudi firms to pay bonuses after royal handout

Several of Saudi Arabia's largest listed companies said on Monday they would pay out hundreds of millions of dollars in bonuses, days after the new king ordered a handout to Saudi state employees to mark his accession. Saudi A

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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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