Bahraini Woman Elected UN General Assembly President
Sheikha Haya Rashed Al Khalifa, legal advisor to Bahrain's Royal Court, was elected as president of the UN General Assembly recently, becoming just the third woman ever to ascend to that post.
In doing so, Sheikha Haya takes the position in a moment of tumult, with the UN drawing criticism and reform proposals from Secretary General Annan struggling for passage. The General Assembly often takes a back seat to the more powerful Security Council, but the president is an important figurehead and often settles disputes.
Dr. Naser M. Y. Al BelooshiBahrain's Ambassador to the United States
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Bahraini Infrastructure Spending To Rise
New Bahraini budgets are out for 2007 and 2008 and infrastructure projects fare high on the list of priorities. Bahrain will spend $843.5 million next year and $856.6 million more in 2008 on enhancements to its already modern infrastructure. The preliminary budget, presented to Parliament last week, is expected to be approved by July 2.
Picture: The Al Ezzel power plant, located on the isle of Muharraq northeast of Bahrain's capital Manama, is Bahrain's first independent power project.
Among the priorities for the two budgets Works and Housing Ministry and the Electricity and Water Ministry, which will split $524.5 million over the next two years.
Bahrain Licenses First Women's Islamic Investment Bank
The Bahrain Monetary Agency (BMA) has granted a license for the first Islamic investment bank specifically for high net worth women in Bahrain. The bank will have an initial funding of $1 billion will be headquartered at the Bahrain Financial Harbor.
The bank, to be called "Masrafy," targets women investors who often shy away from investing. It is estimated that women in the Gulf region control funds worth $38 billion. Until now, these women lacked credible investment channels.
