40 April 2019 www.bahrainthismonth.com commercebusinessbites Mall of Dilmunia will be home to the first cylindrical aquarium within a mall in the GCC. Though there is, as yet, no timescale for the development, the Bahrain Aquarium will be one of the mall’s star attractions. At seven metres wide and 16 metres high, it will hold 700,000 litres of water. It will be the first cylindrical aquarium of this height and depth in the region and will be filled with various fish and sea-life. It is expected to open to visitors along with the opening of the mall later this year. Legal expert and prolific author Dr AbdelGadir Warsama Ghalib has produced a new book, Securities Markets & Company Laws. The latest tome covers areas such as the need to establish a securities commission, bond clearing systems, rights of shareholders, assemblies and shareholders, fairness and transparency in stock market operations, subscription in public joint stock companies, the civil and criminal liability of directors, duties of founders in joint-stock companies, the stock market, investment funds, remuneration payable to boards of directors, features of joint venture companies, simple limited partnerships and public joint-stock companies. There is also a wide range of other information such as laws related to curbing insider trading, the status of debts in firms undergoing liquidation, the role of liquidators, termination of a company and much more which will be of interest to those engaged in the specialist field. New Banking Book First of its Kind Aquarium VIPs including HE Zayed bin Rashid Al Zayani, Minister of Industry, Commerce and Tourism, Khalid Al Rumaihi, chief executive of Bahrain Economic and Development Board and HE Kai Buckmann, German Ambassador, were on hand to join in the celebration when Al-Sane & Partners Soft Drinks Company celebrated the launch of Nada Water Plant. Jamil Abdul Razzaq Al-Sane, group chairman and CEO, told the gathering that his late father first established the plant at the beginning of the 1990s and, at the time, it represented a quantum leap in the region’s industry, being the Middle East’s first PET water bottling plant. He said: “We are proud to have re-built this industrial landmark in the Kingdom after a two-year development period, in which we have been able to raise the production capacity of the plant from 6,000 to 45,000 bottles per hour, produced using the latest technology imported and installed by the German company KHS.” The majority of the plant’s production will be exported to Kuwait, Saudi Arabia and Iraq. Refurbished Water Plant Launched Pearls On Show Arabian Gulf University has said bids have been received for construction of the multi-million-dollar King Abdullah bin Abdulaziz Medical City, with the contractor expected to be finalised in June and work due to commence in the third quarter of the year. The project will be built on a huge plot at Askar, donated by His Majesty King Hamad bin Isa Al Khalifa and is funded by a USD1 billion grant from the late Saudi King Abdullah bin Abdulaziz Al Saud. In a statement, Arabian Gulf University said construction was expected to take two years and the hospital is scheduled to start receiving patients in early 2021. Once operational the medical city will have 500 beds, a full range of outpatient clinics, 15 operating rooms and quality support medical services such as advanced laboratories and a pharmacy. Date Set for Medical City Construction One of the largest curated exhibitions of pearls, open to the public, was staged by internationally acclaimed auction house Christie’s along with Bahrain’s Institute for Pearls and Gemstones (Danat). Entitled Magnificent Pearls and taking place at the Four Seasons Hotel Bahrain Bay it showcased a selection of more than 50 exceptional pearls and other jewellery, all certified by Danat, whose chief executive, Kenneth Scarratt, says: “By being part of the Christie’s global presence, Bahrain once again demonstrates its commitment to building on its long and successful history of pearl trading. “Magnificent Pearls represents a new step forward in expanding initiatives across the pearl industry, which is emblematic of Bahrain’s rich cultural heritage. “Danat is extremely appreciative of the support it continues to receive by HRH the Crown Prince, whose role has been instrumental in reviving Bahrain’s pearl and gemstone industry.”
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