18.07.2012 - Gulf Air takes toll on Bahrainís Mumtalakat Fund
Bahrainís $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 fundís income...............................................Full Article: Source
Print