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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Gulf Air takes toll on Bahrain’s Mumtalakat Fund

Posted on 18 July 2012

Bahrain’s $9 billion sovereign wealth fund Mumtalakat said its full-year consolidated net losses widened due to higher provisions and reduced income from associate companies.
Mumtalakat, which owns sta+kes in firms such as Gulf Air and Aluminium Bahrain, made a net loss of 270.6 million dinars ($717.68 million) in 2011, it said in a statement on its website. That compares with a loss of 234.3 million dinars in 2010. Losses from struggling national carrier Gulf Air in particular weighed on the fund’s income………………………………………..Full Article: Source


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