Real estate related economic and financial news covering the MENA region.
Batelco bucks Bahrain Bourse downtrend
May 22, 2012
The Bahrain All-Share Index declined 0.78% to 1,138.32, as financials weighed on the Manama-based gauge. On a year-to-date basis, the measure fell back in the red zone (off half a percentage point). Islamic financial institution Ithmaar Bank plummeted 9.38% to $0.145. Bahrain Telecommunications, known as Batelco, added 0.42% to reach BD0.48. On May 20, Batelco and Omantel signed a partnership agreement. Building on existing agreements, this partnership will allow bi-lateral Data IP Services to be sold between Bahrain and Oman, as well as providing one-stop-shop transit services to Batelco's and Omantel's carrier partners, enabling both parties to extend corporate VPN solutions between their respective markets.