Latest news with #Kanoo
Bahrain This Week
19-06-2025
- Health
- Bahrain This Week
Bahrain Mourns the Passing of Safia Ali Kanoo
Bahrain has lost one of its most dedicated humanitarians with the passing of Safia Ali Muhammad Kanoo on Wednesday, June 18. A towering figure in Bahrain's social and economic landscape, she leaves behind a legacy of transformative philanthropy, women's empowerment, and cultural enrichment. For decades, Ms Kanoo championed initiatives that uplifted vulnerable communities, most notably through healthcare. She established the Safia Ali Kanoo Paediatric Ward at Salmaniya Medical Complex, providing critical care for children battling cancer, and founded two specialised wards for elderly care. Her contributions extended beyond medicine—she built mosques, supported art centres like the Safia Ali Kanoo Centre for Arts and Crafts, and empowered Bahraini women through entrepreneurship programs and exhibitions. A steadfast advocate for female leadership, she was a pillar of the Bahraini Businesswomen Association, creating and nurturing opportunities for women in business and culture. Her visionary work earned her the prestigious First-Class Medal of Competence from His Majesty King Hamad bin Isa Al Khalifa—twice, in 2001 and 2012—a testament to her national impact. Bahrain today grieves not just a philanthropist, but a trailblazer whose life redefined service. From children's hospitals to artisan workshops, her legacy lives on in every life she touched. As the Kingdom bids farewell to this icon of generosity, her spirit endures in the institutions she built and the countless futures she brightened. May her soul rest in peace.
Biz Bahrain
26-05-2025
- Business
- Biz Bahrain
MADA Brokers Sets a New Standard: Bahrain's First Online Insurance Aggregator Now Live!
MADA Brokers licensed by Central Bank of Bahrain (CBB), has announced the launch of the first insurance aggregator in the Kingdom of Bahrain, accompanied by the introduction of the mobile application, 'Shamil by MADA.' This groundbreaking initiative marks a significant milestone with the support and guidance of Central Bank of Bahrain (CBB), as MADA becomes the first company in Bahrain to provide clients with instant quotations for a variety of insurance products, including motor, home, and travel insurance. This advancement underscores MADA's commitment to harnessing technology to enhance customer experience and address the evolving needs of its clients. In addition to the mobile application, the aggregator is also accessible via the company's website: In a statement on the occasion, Mr. Khaled Fuad Kanoo – Chairman of the Board of MADA Insurance, commented: 'The launch of Mada's comprehensive digital application marks a major milestone in the Kingdom of Bahrain, as it introduces the first insurance aggregation platform of its kind. The platform serves as a unified marketplace that streamlines the insurance purchasing process—empowering users to compare multiple products and choose the option that best aligns with their needs.' Mr. Kanoo further added, 'At Mada Brokers, our mission is to drive the expansion of Bahrain's online insurance aggregator ecosystem—a model that has matured globally to become the primary channel for distributing personal and commercial insurance products. Our goal is to offer a user-friendly platform that equips consumers with the tools and knowledge necessary to make confident, informed decisions about their insurance coverage.' Mr. Kanoo affirmed that Shamil by Mada is a key milestone in the company's journey, developed with the support and regulatory oversight of the Central Bank of Bahrain. It reflects MADA ongoing commitment to using digital innovation to create transparent, accessible, and seamless insurance solutions for all clients. Mada Brokers currently offers three core insurance lines—Motor, Home, and Travel—through strategic partnerships with GIG Gulf, GIG Bahrain, and Solidarity. The platform is designed to simplify the insurance process, offering side-by-side comparisons of policies from leading providers. In addition, Mada provides a range of corporate insurance solutions, offering coverage against a spectrum of risks such as property damage, business interruption, operational incidents, financial losses, employee benefits, and theft. For individuals, Mada's personal insurance lines cover losses arising from death, injury, or property damage, ensuring financial protection and peace of mind. As part of its roadmap for continued expansion, Mada plans to introduce Medical Malpractice Insurance and Medical Insurance in the coming months—reinforcing its role in enhancing the insurance sector and addressing the evolving needs of Bahrain's diverse customer base.
Daily Tribune
22-04-2025
- Business
- Daily Tribune
Kanoo: Arab economies must innovate to face global challenges
Vice Treasurer and Head of the Steering Committee of the Bahrain Chamber, Waleed Kanoo, has called on Arab economies to enhance their adaptability and resilience to meet the demands of a rapidly evolving global landscape. He stressed that transitioning from traditional economic models to more diverse and innovation-driven frameworks is no longer optional, but an urgent necessity. Speaking on behalf of Bahrain Chamber Chairman Sameer Nass during the second day of the 51st Arab Labor Conference, Kanoo referenced the outcomes of the 33rd Ordinary Session of the Arab League Summit held in Bahrain. He highlighted the summit's emphasis on joint Arab action to safeguard regional security and promote deeper cooperation and integration across sectors. In alignment with this vision, Kanoo reaffirmed the Bahrain Chamber's commitment to strengthening ties among Arab private sectors and fostering robust regional economic partnerships. He underlined the pivotal role of public-private collaboration in overcoming shared economic challenges and achieving sustainable growth. Kanoo also extended his congratulations to the Arab Labor Organization on its 60th anniversary, praising its efforts in promoting social justice, sustainable development, and balanced labor relations. He described the conference as a timely platform to boost coordination across the region and unify efforts to address critical economic issues—particularly those related to sustainable development and job creation.
Zawya
27-03-2025
- Business
- Zawya
Bahrain's Basrec shareholders approve dividend
Bahrain Ship Repairing and Engineering Company (Basrec) shareholders yesterday approved a 50 fils per share cash dividend, amounting to BD989,622, after the company reported a net profit of BD2.4 million for the fiscal year ending December 31, 2024. The decision was made at the company's annual general meeting (AGM) held at the Gulf Hotel Bahrain Convention and Spa. The meeting, which met legal attendance requirements, was chaired by Fawzi Kanoo, chairman of the board, and attended by shareholders, board members, executive management, representatives from KPMG Fakhro, and officials from the Central Bank of Bahrain, the Industry and Commerce Ministry, and Bahrain Bourse. Mr Kanoo highlighted the company's strong performance despite 'challenges and strong competition,' attributing the success to customer trust and regulatory support. He also emphasised a key achievement: the launch of the new floating dock (Basrec 2), which he described as a 'significant engineering achievement' bolstering Bahrain's marine industry. 'We are pleased to announce that the company achieved a net profit of BD2.4m despite challenges and strong competition,' said Mr Kanoo. The AGM also saw the approval of the board of directors' report, audited financial statements, auditors' report, and corporate governance report. On the sidelines of the AGM, Basrec chief executive John Robson noted the company has made a $20m investment in recent years. He stated that the new floating dock has effectively doubled operational capacity. 'We have installed a new floating dock, something we've sought for over 20 years, effectively doubling our operational capacity,' said Mr Robson. The company is also focusing on increasing local workforce participation. 'We are actively working to increase local workforce participation, having hired 200 new Bahraini employees and planning to hire another 200,' Mr Robson added. Furthermore, Basrec is pursuing new contracts and aiming to diversify through strategic partnerships and acquisitions. 'We anticipate new contracts with the BDF, the US Navy, and local partners, further solidifying our position,' Mr Robson explained. The company is investing in staff training, including sending Bahraini employees to the UK for advanced skills development, and has promoted several long-term employees to senior management. 'Basrec is also committed to reinvesting in the local community, aiming to become the leading provider of ship repair, maintenance, and engineering in the Gulf,' he added. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
25-03-2025
- Business
- Zawya
Gulf Hotels Group approves 25% cash dividends
Gulf Hotels Group shareholders approved the distribution of 25 per cent of the company's capital for the financial year ended December 31, 2024, reflecting the group's strong financial performance and commitment to shareholder value. The dividend, set at 25 fils per share, underscores the company's continued growth as a leading hospitality management group in the kingdom. The annual general meeting (AGM) and extraordinary general meeting )EGM) took place at the Gulf Hotel Bahrain Convention and Spa yesterday, under the supervision of Bahrain Clear representatives. The AGM was chaired by Gulf Hotels Group Chairman Fawzi Kanoo and attended by board members, executive management, and representatives from the Industry and Commerce Ministry, the Central Bank of Bahrain, Bahrain Bourse, Bahrain Clear and the group's auditors, EY. The board recommendation for dividend distribution was driven by robust financial results, with the group reporting total income of BD36.7m, reflecting an 11 per cent year-on-year increase, and a net profit of BD8.9m, marking a 31pc growth compared to the previous year. During the meeting, Mr Kanoo emphasised the group's commitment to sustainable financial growth and operational excellence. Shareholders approved the directors' report, auditors' report, balance sheet, profit and loss accounts for 2024, and the corporate governance report, in addition to discharging the board for the same period. The AGM also appointed the auditors for the upcoming financial year and authorised the board to determine their fees. Further, shareholders approved the repurchase of treasury shares of up to 10pc of the issued and paid-up capital. In addition, shareholders approved the appointment of a liquidity provider to support market making activities for up to 3pc, following the repurchase of treasury shares. This decision aims to enhance market liquidity and support share price stability in compliance with regulatory guidelines. Immediately following the AGM, an extraordinary general meeting was convened, during which shareholders ratified updates to the company's commercial activities and approved related amendments to the Memorandum and Articles of Association, pending regulatory approvals. Commenting on the full-year financial results, Mr Kanoo said: 'We are proud to have achieved this strong financial performance for the year ending December 31, 2024, which reflects strength of our operations, and the success of our strategic initiatives in delivering sustained profitability. The group remains well-positioned to drive continued expansion and deliver sustained value to our shareholders.' The group's chief executive Ahmed Janahi said, 'The group achieved an exceptional financial performance in 2024, reporting strong growth in revenue and net profit. With a firm commitment to sustained growth, we remain confident in our ability to create long-term value for our shareholders. As we move forward, we will continue to build on this momentum to drive growth and reinforce our position as a leading hospitality group in Bahrain and the Gulf region.'
