128 August 2015 www.bahrainthismonth.com marketplace business bites Credit card giant MasterCard has appointed Khaled Abdulkarim as the country manager for Bahrain. He joins the company with 13 years of experience and an extensive track record in the banking industry having previously been head of the retail credit and card centre at Ithmaar Bank and also product manager at Khaleeji Commercial Bank. In his new role, Abdulkarim will focus on developing new relationships and enhancing MasterCard’s existing engagement with stakeholders in the country. In a boost for travellers, Kuwait Finance House – Bahrain (KFH-Bahrain) has signed a memorandum of understanding (MoU) with national carrier Gulf Air, giving KFH-Bahrain credit card holders discounts when they buy travel tickets through gulfair.com. Savings of 10 per cent are available on seats in both business and economy classes in a move that is said to complement the airline’s existing Falcon Flyer loyalty programme. Work is underway on a new USD$30-million shopping mall, which will house retail outlets, a supermarket and restaurants. The mall, in Janabiya, is being built on an 86,000sq/ft plot, according to a report in the Gulf Daily News. In a first for Bahrain it will feature a landscaped garden courtyard with water features surrounded by dining outlets. The retail project is being funded by Kuwait Finance House through First Bahrain Real Estate Development Company, designed by Sanad Engineering and built by Almoayyed Contracting Group. The Bahrain-based Arab Insurance Group looks set to take ownership of Dubai Islamic reinsurer Takaful Re. AIG already owns 54 per cent of the Dubai company’s shares and is in discussions to purchase the remaining 46 per cent, subject to regulatory approval. Shareholders in Takaful Re include Dubai Investments, Emirates Funds, Emirates Industrial Bank and the Islamic Development Bank, each holding a 10 per cent stake. The island’s largest shopping, leisure and entertainment destination, City Centre Bahrain, was honoured with the 2015 ‘Certificate of Excellence’ by TripAdvisor following exceptional visitors’ reviews and ratings. The international accolade is based on achieving outstanding visitor reviews and ratings on the world’s largest travel site. The TripAdvisor Certificate of Excellence can only be earned through consistently great reviews published by members of the public on the web portal. City Centre Bahrain was recognised by hundreds of customers as the best shopping destination in Bahrain. More than 375 visitors rated the destination on the global platform, with 180 visitors rating City Centre Bahrain as ‘Excellent’ which is the highest value available. Abdulkarim Joins MasterCard Flight Discounts from KFH USD30-million Shopping Mall for Janabiya AIG to Take Over Takaful Re TripAdvisor Awards City Centre Bahrain New USD6.5-million Cinema for Riffa Bahrain Cinema Company, also known as Cineco, has signed a major deal with the Wadi Al Sail Mall in Riffa to lease space for a new six-screen Cineplex and a branch of Rendezvous restaurant. Construction work has already started on the project and completion is scheduled for mid-March 2016. Cineco CEO, Ahmed Rashed, says: “Our strides towards constantly furthering our growth include the exponential introduction of a nation-wide network of multiplexes, to add to the impressive figures we currently offer, that will boast the screening of quality movies of international acclaim using the most advanced technology that is currently available in the entertainment industry.” The new Cineplex will have the impressive capacity of 809 seats and will encompass the latest in technological advancements in the global entertainment industry.
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