A Bahraini bank has won a massive payout from a Saudi businessman described as ‘one of the biggest monetary judgements ever awarded in the GCC.’
Maan Al Sanea has been ordered by Bahrain's High Civil Court to pay A
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,
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.
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
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
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
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.
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
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
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