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Daily Tribune
09-07-2025
- Business
- Daily Tribune
Bahrain, Hungary launch bilateral investment protection agreement
The Agreement between the Government of the Kingdom of Bahrain and the Government of Hungary for the Promotion and Protection of Investments officially enters into force yesterday. This agreement underscores the strong and expanding bilateral relationship between Bahrain and Hungary, particularly in financial, economic, and investment sectors. It aims to promote sustainable cooperation and joint initiatives, reflecting both nations' shared commitment to fostering promising investment opportunities that contribute to mutual prosperity. Strong commitment Nawaf Hashem Al Sadeh, Assistant Undersecretary, International Cooperation Affairs at the Ministry of Finance and National Economy, noted that Bahrain is strongly committed to broadening its international cooperation to attract foreign direct investment, support joint ventures, and create quality economic opportunities for its citizens. He emphasised that the ministry has concluded over 40 investment promotion and protection agreements, ensuring robust safeguards for investments and the unrestricted transfer of capital, profits, and returns in freely convertible currencies between the two countries. Al Sadeh further underscored that the agreement guarantees fair and prompt compensation to investors in cases of expropriation for public interest.
Daily Mirror
27-06-2025
- Climate
- Daily Mirror
Heatwave and fire risk prompts double 'danger' alert on popular holiday islands
As temperatures are predicted to soar over the next few days, an 'alert situation' in the Canary Islands has been declared, with forest fires one of two high-risk factors A double danger alert has been issued in the Canary Islands with extreme temperatures expected to return this weekend. The warning affects four of the islands, with weather experts predicting the mercury will hit 37C within days. The General Directorate of Emergencies of the Government of the Canary Islands has also declared an alert situation on the island of Gran Canaria due to two high-risk factors. It covers the extreme danger of forest fires, as well as the impact of an episode of high temperatures. Both decisions are based on the application of the INFOCA and PEFMA plans, activated by the forecast of the State Meteorological Agency (AEMET) and other specialised sources. The first alert responds to the Special Civil Protection and Emergency Response Plan for Forest Fires (INFOCA). It will come into force from 8am on Saturday June 28, in areas located above 400 metres of altitude in Gran Canaria. The second alert has been decreed under the Canary Islands' Specific Emergency Plan for Risks of Adverse Weather Phenomena (PEFMA). In this case, it is an alert for extreme maximum temperatures, which especially affects the summit and the east, south and west slopes of Gran Canaria, where between 34C and 37C is expected. In the rest of the Canary Islands, the pre-alert situation is declared, with the exception of La Palma and the north of Tenerife below 700 metres, which are outside the warning for now. The areas most exposed to this heat episode: North of Gran Canaria - temperatures between 26C and 32C El Hierro, La Gomera, Lanzarote, Fuerteventura and eastern, southern and western slopes of Tenerife - maximums of 30C to 34C Summit and south of Gran Canaria - between 34C and 37C In the face of this double alert, authorities insist on maximum caution. Outdoor activities in the middle of the day are discouraged and agricultural burning, barbecues and the use of machinery that can generate sparks in risk areas are prohibited. In addition, it is recommended to hydrate frequently, stay in cool places, avoid prolonged sun exposure and be attentive to updates from official emergency services. The situation will be re-evaluated depending on how the episode evolves over the weekend, but from this Friday, Gran Canaria enters the phase of maximum surveillance.
Korea Herald
02-06-2025
- Business
- Korea Herald
SI Group Signs Exclusive MOU in Support of Solomon Islands' First Special Economic Zone
, June 2, 2025 /PRNewswire/ -- SI Group has signed a Memorandum of Understanding (MOU) with the Government of the Solomon Islands to serve as a strategic adviser and priority investor in the development and international promotion of the country's first Special Economic Zone (SEZ). This MOU establishes the foundation for collaboration, with a more detailed investment agreement to be finalized and presented to the Government Caucus for formal approval. Solomon Islands – A Strategic Gateway in the Pacific Situated at the crossroads of Southeast Asia, Australia, and the South Pacific, the Solomon Islands holds a unique position on major maritime trade routes. With ongoing economic reforms and a commitment to inclusive development, the country is positioning itself as a new frontier for global investment and sustainable growth. The Honourable Jaimie Lency VOKIA, Minister of Commerce, Industry, Labour and Immigration and Member of Parliament, stated: "This MOU marks the beginning of a strategic public-private partnership. SI Group's global reach and sector expertise will help attract serious international investors to the SEZ, aligning with our national goals for economic diversification and regional integration." A Government-Led SEZ for National Development The Special Economic Zone, officially launched by the Government of the Solomon Islands, is a flagship initiative aimed at stimulating broad-based economic transformation. Its goals include: A Cohesive Structure for Sustainable Growth The SEZ will comprise a series of interconnected sub-zones, each with distinct strategic functions: 3. Infrastructure – Finance – Logistics All sub-zones will be developed in accordance with a national master plan to ensure operational coherence and long-term sustainability. Implementation Roadmap: From Vision to Execution SI Group and the Solomon Islands Government have agreed on a structured implementation roadmap to realize the SEZ through phased development: SI Group – Strategic Adviser and Priority Investor Under the terms of the MOU, SI Group will serve as a strategic adviser and priority investor on major investment opportunities within the zone. SI Group's role includes: About SI Group Established in 2001 as ESPECO (H.K) Limited and now headquartered in Vietnam, SI Group is a global advisory and investment firm specializing in: With active operations in over 20 countries and a proven track record of delivering high-impact projects, SI Group is committed to supporting the Solomon Islands in realizing its SEZ ambitions through sustainable and inclusive development. Nguyen Huu Tri (Kannie)
The Sun
21-04-2025
- Climate
- The Sun
Canary Islands declares ‘pre-emergency' weather alert as Brit tourist hotspots set to be battered by 40mph winds
THE Canary Islands have declared a "pre-emergency" weather alert as Brit holiday hotspots are set to be battered by 40mph winds. Two separate yellow advisories have been issued, with "force seven" winds set to begin Monday evening on the coast of Tenerife. 8 8 8 Spain 's equivalent of the Met Office, AEMET, have issued alerts on the hazardous weather conditions, with holidaymakers potentially wanting to avoid the archipelago the first half of this week. The alert said: "Northeast winds of 50 to 61 km/h (force seven) on the southeast coast of Tenerife, southeast and west of Gran Canaria." The chilling weather warning affects Brit holiday hotspots like Fuerteventura, Lanzarote, Tenerife, Gran Canaria and La Palma - among others. It comes after AEMET issued a "pre-alert" warning on the strong winds for Tenerife, Gran Canaria and La Gomera on Saturday. It said: "The Government of the Canary Islands, through the Directorate General for Emergencies, updates the situation and declares a pre-alert for winds on all the islands, as of 16:00 hours today, Saturday 19 April. "This decision is taken taking into account the information provided by the State Meteorological Agency and other available sources, and in application of the Specific Emergency Plan for the Canary Islands due to the Risk of Adverse Meteorological Phenomena (PEFMA)." Clearer skies and warmer weather are meant to grace Tenerife as soon as Wednesday after two days of predicted rainfall, with temperatures nearing 30C by the end of the coming weekend. Meanwhile Gran Canaria is likely to hit the same temperature within the next few days, with hot highs set for April 27 and 29. Canary Islands warning The warning affects: El Hierro La Gomera Fuerteventura Lanzarote La Palma El Paso Coast of Garafía Fuencaliente and Mazo Tenerife Coast of Buenavista del Norte San Miguel Granadilla Arico, de Fasnia Güímar Gran Canaria Cumbres Coast of Gáldar Agaete Artenara La Aldea San Bartolomé de Tirajana Santa Lucía de Tirajana Agüimes Ingenio Telde 8 8 LANZAROTE HELL A week ago, Brits were issued an urgent warning about holiday hotspot Lanzarote following the "unprecedented" flooding. The UK government stepped in to caution anyone visiting the island about the perilous conditions. The official warning said: "Heavy rainfall and flooding in Lanzarote occurred earlier today (13 April 2025) with Costa Teguise, San Bartolomé and Arrecife particularly affected. "Services across the island are affected. Some hotels are currently without power. Some roads are currently affected by mud. "If you are in Lanzarote or travelling to Lanzarote, follow the advice of the local authorities and monitor local weather updates." A storm broke out on the early afternoon of April 12 - unloading a short, sharp deluge of rainfall onto the island. Some spots in Costa Teguise received more than a year's worth of rain in two hours, when over 100 litres fell per square metre. Staggering footage emerged over the weekend of the island swamped by the violent flooding after a torrential two-hour dump of rain. Homes and roads were overcome by the surging floodwater on Saturday afternoon, prompting officials to declare a state of emergency. Carparks turned into fast-flowing rivers with cars lying stranded in impassable streets, and hotels were without power on Sunday. Locals said they "haven't seen anything like it before", after the floodwater caused widespread damage. 8 8
Biz Bahrain
21-03-2025
- Business
- Biz Bahrain
Bahrain-Hong Kong investment agreement to take effect on March 21
The Investment Promotion and Protection Agreement between the Government of the Kingdom of Bahrain and the Government of the Hong Kong Special Administrative Region will come into effect on Friday, March 21. The agreement reflects the strong and growing ties between Bahrain and Hong Kong, particularly in the financial, economic, and investment sectors. It aims to create new and sustainable opportunities for cooperation and joint initiatives while reinforcing both sides' commitment to expanding investment prospects that support economic growth and prosperity. Nawaf Hashem Al Sadeh, Assistant Undersecretary for International Cooperation at the Ministry of Finance and National Economy, emphasised Bahrain's commitment to fostering international partnerships to attract foreign direct investment, encourage joint ventures, and create high-value opportunities for citizens. He noted that the ministry actively facilitates investment agreements, with nearly 40 agreements signed to date, ensuring safeguards for investors, the free movement of capital, and the transfer of profits and returns in freely convertible currencies between the contracting states. Al Sadeh further highlighted that these agreements provide guarantees, including fair and prompt compensation for investors in cases of expropriation for the public interest, in accordance with established legal procedures. They also outline mechanisms for dispute resolution between investors and the contracting states, as well as between the states themselves, thereby reinforcing investor confidence and ensuring a secure and stable investment environment. For more information on Bahrain's investment agreements, visit the Ministry of Finance and National Economy's website at BNA(R)
