Al Salam Bank-Bahrain has entered into an agreement with Kanoo Travel Agency.

The move will allow Kanoo to participate in various exclusive promotions extended to Al Salam's customers and charge card holders which include special pricing on selected holiday packages, value additions promotions and discounts on room bookings in selected hotels and travel related services.

In the similar period of previous year, bank's net profit figure stood at BD7.9 million for the same period last year.

Bank's net profit for the six-month period reached BD10.6 million with earnings per share for the period of 8.9 fils.

The total assets in H1 surged by 16% to reach BD640.7 million from BD554 million on December 31, 2008.

Bahrain-based Gulf International Bank has announced a second three month period loss at $65.4 million as it took provisions against rising loan defaults.

The sources said that the lender, which is owned by the six nations that form the Gulf Cooperation Council, ascribed the loss to a net provision charge of $101.3 million it took during the second quarter.

Bahrain Air has revealed that it has taken the necessary preparations to start direct commercial flights from Bahrain to the Republic of Iraq, Baghdad and Najaf, International Airports at a total of seven flights a week, where by two weekly flights to Baghdad International Airport, and five weekly flights to Najaf International Airport, starting from August 28, 2009.

Rolls-Royce PLC has announced that it has inked an order worth $1 billion order from aviation major Gulf Air.

The order has been signed to supply engines for the Bahrain-based airline’s new Airbus A330 long-haul aircraft.

According to sources, British aircraft engine manufacturer will supply Trent 700EP engines to power 20 Airbus A330 aircraft, with deliveries beginning in 2012.

With the aim to expand its global reach into the Middle East, General Imaging, the worldwide exclusive licensee for GE digital cameras unveiled a range of digital cameras into the Middle East today at Gitex. The cameras range from seven to 12 mega pixels in range of A, G and E.