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Arab News Business

Spare receives license as an open banking ancillary service provider in Bahrain

The license will pave the way for Spare to kickstart their operations in Q2 of 2022…reports Asian Lite News

Spare, a Kuwait based financial technology application, has received the license from the Central Bank of Bahrain to operate as an open banking ancillary service provider in the Kingdom of Bahrain. The license will pave the way for Spare to kickstart their operations in Q2 of 2022.

Spare, an app designed to encourage people to adopt smart and sound financial habits, breaks down spending and guides users to understand where their money is going. Spare will also allow users to make payments via account-to-account transfers as well as offer open banking bill payment solutions for businesses and merchants.

Spare will be integrated with all major banks in Bahrain to allow users to connect multiple bank accounts and monitor all balances, track spending across selected accounts, set budgets, and make payments easily and securely.

Furthermore, the solution will cater to businesses in Bahrain by providing faster, cheaper and more secure payment solutions. With Spare, businesses will have multiple benefits including lower fees, direct account to account transfers, and higher security. Additionally, merchants can directly connect to Spare to create QR codes and generate links for payments.

Open banking gives customers more choices and control over their financial data, and it opens up access to a variety of personalized financial products and services that are not available in the Middle East region. Open Banking in the Middle East is picking up momentum, and Spare’s analysis suggests that it is expected to reach over 1.2$bn by 2025 and that can grow faster as more countries in the region embrace open banking.

ALSO READ: Emirates boarding pass unlocks Dubai deals

Dalal Alrayes, CEO and Co-founder at Spare, commented, “Users are demanding better financial experiences whether it comes to the way they do their payments or try to understand their spending information. With Spare, we’re elevating the way people manage their money and providing hyper-personalized experiences, all powered through secure connections to their banking information”

She added, “With Bahrain being the first country in the MENA region to adopt the open banking framework, we are grateful to be able to contribute to the ecosystem and offer this solution. This is in line with our mission to provide a seamless money management experience for everyone to stay on top of their financial lives. ”

Spare is also in the process of launching in other markets where open banking is being rolled out, with plans to expand across the MENA region.

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Arab News Health News

RCSI Bahrain to find feasible cure for diabetes

The goal of the ongoing research led by the RCSI Bahrain research team is to find an alternative cure for diabetes that is more feasible…reports Asian Lite News

To address the prevalence of diabetes in Bahrain and the region, Professor Alexandra Butler, Senior Research Fellow and Lead of Diabetes & Islet Cell Biology research, and Professor Shahryar Khattak, Senior Research Scientist and Lead of Stem Cell & Genome Engineering research, from the Royal College of Surgeons in Ireland – Medical University of Bahrain (RCSI Bahrain) are collaborating on their ongoing research to explore the use of stem cells to find a feasible cure for diabetes.

Patients who suffer from diabetes have low numbers of beta cells (the cells in the pancreas that make insulin, a hormone that controls the blood glucose level) and therefore these patients have high levels of glucose in the blood. Treating these patients with insulin is essential for those with Type 1 diabetes and, together with other therapies, necessary for some patients with Type 2 diabetes; however, administration of insulin requires careful management and can have negative long term effects on a patient’s health.

To date, transplantation of either the entire pancreas or islets isolated from a pancreas, represent the only available cure option; such transplantation procedures have had varying degrees of success and still present multiple challenges, such as a lack of available donors and the need for life-long immunosuppression to avoid the immune system attacking and destroying the transplanted beta cells.

ALSO READ: Jackfruit flour, a new tool to control diabetes

The goal of the ongoing research led by the RCSI Bahrain research team is to find an alternative cure for diabetes that is more feasible in terms of the ease of the surgical procedure, compatibility with the patients’ health conditions, scalability to a larger number of patients and cost-effectiveness. Current research being developed at RCSI Bahrain will utilise beta cells derived from stem cells, which will be transplanted within an encapsulation device.

RCSI Bahrain is collaborating with a UK-based company to develop novel encapsulation devices using a range of biomaterials as a preferred option, due to their availability in large quantities and cost-effectiveness. An ideal encapsulation device must protect the cells from the autoimmune attack, must not cause a foreign body reaction or lead to the development of fibrosis and provide a suitable environment in which the cells can survive and function, all of which are offered by the developed biomaterial technology.

Professor Stephen Atkin, Head of School of Postgraduate Studies and Research, who also oversees the RCSI Bahrain Clinical and Biomolecular Research Centre and all research initiatives: “The collaborative research being undertaken by Professor Alexandra Butler and Professor Shahryar Khattak in developing a cure for diabetes is a research priority at the Research Centre, where contributing to the development of a cure will be a major step in the lives of diabetic patients and advancing their quality of life.”

Experiments conducted by Professor Butler and her team at the RCSI Bahrain Clinical and Biomolecular Research Centre, to test the use of biomaterials both in vitro and in vivo, showed that the use of biomaterials did not affect cell viability or function in vitro, nor did they cause inflammation or fibrosis in vivo, making these biomaterials a potentially excellent solution for cell-encapsulation.

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The second area of the ongoing research to find a cure for diabetes is led by Professor Khattak, who is working with his team at the Stem Cells & Genome Engineering Unit, to produce stem-cell derived beta cells, which Professor Butler will use for the encapsulation devices. By using human pluripotent stem cells​, Professor Khattak and his team were able to generate pancreatic beta cells, which were functional and able to produce insulin when checked for responsiveness to glucose. ​

Although there are limitations to the current stem cell to beta cell protocols, the next steps of the ongoing research will be to design a human-compatible encapsulation device for transplantation and explore the potential of the combined procedure in potential human clinical trials.​

​The RCSI Bahrain Clinical and Biomolecular Research Centre promotes teaching and research focused on the national healthcare priorities with the mission to specifically address prevalent health conditions and health diseases in Bahrain and beyond.

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-Top News Arab News UAE News

Bahrain hails ‘longstanding partnership’

Bahraini Minister of Information Affairs Ali bin Mohammed Al Rumaihi has articulated the importance of the longstanding partnership between the United Arab Emirates and the Kingdom of Bahrain…reports Asian Lite News

He also said the progress it is steadily witnessing at all levels, thanks to the keenness of President Sheikh Khalifa bin Zayed Al Nahyan and King Hamad bin Isa Al Khalifa of Bahrain, to continuously develop cooperation bonds for the benefit and prosperity of the two brotherly peoples.

Speaking to the Emirates News Agency, Al-Rumaihi praised the fraternal visit paid by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Thursday to the Kingdom and his meeting with King Hamad.

He added that the discussions the two leaders had on the latest regional and global developments contribute to advancing their bilateral relations in various fields.

ALSO READ:MBZ meets King Hamad in Bahrain

“The visit affirms the determination of the two countries’ leadership to strengthen national efforts made to ensure the common good of their peoples,” the minister added.

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-Top News Abu Dhabi Arab News

MBZ meets King Hamad in Bahrain

Sheikh Mohamed and King Hamad affirmed support for joint Gulf action to confront various current challenges, reports Asian Lite News

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Thursday discussed with King Hamad bin Isa Al Khalifa of Bahrain, the prospects of further consolidating the relations between the two nations across all fields.

During the meeting, which took place at the Sakhir Palace in Bahrain, King of Bahrain welcomed Sheikh Mohammed, wishing him continued good health and wellbeing and further development and prosperity for the UAE and its people.

MBZ meets King Hamad in Bahrain

The two leaders also exchanged Ramadan greetings. They also discussed a number of Gulf and Arab issues and exchanged views on the latest regional and global developments.

Sheikh Mohammed stressed the depth and width of the relations between the two countries, their leaders and their brotherly peoples, and their common desire to continue strengthening and developing them in various fields thanks to the support of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and King Hamad.

King Hamad took pride in the strong fraternal relations binding the Bahrain and the UAE, as reflected in their joint stances towards different issues, following in the steps of the founding fathers. He hailed the UAE’s unwavering support to Bahrain and its people at different stages and at all levels.

The two leaders stressed the importance of further developing trade and investment cooperation, underlining the necessity of building on the achievements and expanding cooperation between the private sectors in both countries in vital sectors.

They also stressed the importance of exploring opportunities to develop joint cooperation in the fields of technology, science, energy, renewable energy, environment, health and education to meet their common aspirations and goals. They affirmed support for joint Gulf action to confront various current challenges, based on the unity of history, goals and common destiny in order to achieve progress and prosperity for the citizens of the GCC countries.

They also underlined the importance of consolidating Arab unity and concerted efforts to achieve Arab solidarity and enhance joint Arab action to meet the aspirations of Arab peoples to achieve security, stability and prosperity.

ALSO READ:MBZ attends Iftar banquet hosted by King of Morocco

Sheikh Mohamed bin Zayed Al Nahyan also attended an Iftar banquet hosted by King Hamad. The banquet was attended by the delegation accompanying His Highness, including Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan; Sheikh Mohamed bin Hamad Al Nahyan, Advisor for Special Affairs at the Ministry of Presidential Affairs; Sheikh Sultan bin Hamdan Al Nahyan, the UAE ambassador to Bahrain, and Dr. Anwar Gargash, Diplomatic Adviser to UAE President.

Sheikh Nasser bin Hamad bin Isa Al Khalifa, National Security Adviser and Representative of His Majesty the King for Humanitarian Works and Youth Affairs, recited a poem on this occasion.

Sheikh Mohamed arrived earlier on Thursday at Sakhir Air Base Airport, where he was welcomed by King Hamad, Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, a number of Sheikhs, and Sheikh Khalid bin Abdullah bin Ali bin Hamad Al Khalifa, Bahrain’s Ambassador to the UAE, where an official reception ceremony was held.

Sheikh Mohamed later left Bahrain and was seen off at Sakhir Base Airport by King Hamad.

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Arab News News

2 gunmen shot dead after killing 2 in Israel

Two gunmen killed two Israelis and wounded six others in a shooting spree in northern Israel before being shot dead by Border Police officers, according to Israeli police, medics, and local media…reports Asian Lite News

The two gunmen opened fire on Sunday evening at a bus stop in Hadera before they were shot dead by police officers at a restaurant near the scene, Police spokesman Eli Levy told the press.

The two gunmen were identified as residents of Umm al-Fahm, an Arab city located some 25 km northeast of Hadera city, where the fatal attack was carried out, Israeli state-owned Kan TV news reported.

Two Israelis, a man and a woman, were killed, while six police officers were wounded, Israel’s MDA emergency health service confirmed in a statement, Xinhua news agency reported.

No group has yet claimed responsibility for the attack.

Israeli Army announced in a statement that it was boosting its forces in the occupied West Bank with four additional battalions.

ALSO READ: Israel warns nuclear deal may help Iranian plots

The attack came as Foreign Ministers of the United Arab Emirates, Bahrain, Morocco and Egypt were gathering in southern Israel in a conference with visiting US Secretary of State Antony Blinken to discuss regional cooperation.

The Israeli Foreign Ministry said in a statement that all of the visiting Ministers condemned the attack and offered their condolences to the families of the victims.

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-Top News Arab News News

MBZ, Bahrain King discuss ties

The two leaders discussed ways to expand cooperation across all fronts…reports Asian Lite News

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, met King Hamad bin Isa Al Khalifa of Bahrain, at his residence in Abu Dhabi to review the prospects of further consolidating bilateral relations between the two countries.

Sheikh Mohamed also conveyed to King of Bahrain the greetings of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and his wishes for Bahrain to continue development and prosperity.

The two leaders discussed ways to expand cooperation across all fronts in a way that enhances their sustainable development efforts and contributes to realising the aspirations of their peoples.

ALSO READ: Israeli Military Chief arrives in Bahrain

The meeting was attended by Sheikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs, His Highness Sheikh Hamdan bin Mohammed bin Zayed Al Nahyan, and Sheikh Mohamed bin Hamad bin Tahnoun Al Nahyan, Advisor for Special Affairs at the Ministry of Presidential Affairs.

On Saturday, the Bahrain King met Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on the sidelines of the Sheikh Mohammed bin Rashid Al Maktoum Endurance Festival at the Dubai International Endurance City in Seih Al Salam.

During the meeting, Sheikh Mohammed and the King of Bahrain discussed ways of supporting equestrian sports, especially endurance races in a way that will further enhance the progress of endurance racing locally, regionally and internationally and ensure the preparedness of riders for international competitions.

Organised by the Dubai Equestrian Club and sponsored by Emaar Properties, the 15th edition of the Sheikh Mohammed bin Rashid Al Maktoum Endurance Cup, attracted 155 riders representing various stables in the UAE. The Festival, which kicked off on 7th March, attracted elite riders in four rides: Ladies, Private Stables, Gamilati, and the Sheikh Mohammed bin Rashid Al Maktoum Endurance Cup.

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Arab News News

Israeli Military Chief arrives in Bahrain

Israeli Military Chief of Staff Aviv Kohavi arrived in Manama on Wednesday for a first official visit to Bahrain…reports Asian Lite News

He was received by Chief of Staff of the Bahraini Defense Force Theyab Bin Saqer Al-Noaimi, Xinhua news agency reported, citing a statement by Israel Defense Forces.

Kohavi is expected to meet other top Bahraini military and state officials, including Secretary-General of the Supreme Defence Council Nasser bin Hamad Al-Khalifa, in addition to the Commander of the US Naval Forces Central Command, the US Fifth Fleet, and Combined Maritime Forces Brad Cooper, in the fleet’s headquarters in Bahrain, according to the statement.

ALSO READ: Erdogan lauds ‘turning point’ in Israel-Turkey relations

In February, Israel and Bahrain signed their first security cooperation deal that formalised mutual defense relations.

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Arab News COVID-19 News

Bahrain scraps PCR testing, quarantine for arrivals

The Civil Aviation Affairs (CAA) of Bahrain has announced an update to the country’s health entry procedures at Bahrain International Airport…reports Asian Lite News

A CAA statement, carried by Bahrain News Agency (BNA), said that, starting Sunday, 20th February, 2022, all passengers arriving in the Kingdom of Bahrain through Bahrain International Airport will not be required to take a PCR test or quarantine upon arrival.

Bahrain had recently announced a 10-year Golden Residency Visa to boost investments and attract global talents.

The announcement came amid a series of economic reforms and initiatives the Bahraini government has implemented, such as the Economic Recovery Plan, to enhance the kingdom’s long-term competitiveness.

“The new Golden Residency Visa will help foreign investors and long-term residents, and further contribute to the national economy,” said Nationality, Passports and Residence Affairs Undersecretary, Hisham bin Abdulrahman Al Khalifa.

ALSO READ: Global Covid caseload tops 417.4 mn

Qualified applicants must have resided in Bahrain continuously for at least five years with a basic average salary of no fewer than 2,000 Bahraini Dinars ($5,306) per month throughout the five-year period.

Other criteria include: owning one or more properties in Bahrain valued no less than 200,000 Bahraini Dinars, or an income of 4,000 Bahraini Dinars per month as a retiree, or being certified as “highly-talented”.

The applicants must be present in Bahrain for 90 days per year to ensure the validity of their visas.

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Arab News News World

Bahraini crown prince to visit Israel ‘soon’

Bahraini Crown Prince Salman bin Hamad al-Khalifa has accepted Israeli Prime Minister Naftali Bennett’s invitation for a historic visit to Israel…reports Asian Lite News


The Hebrew-language Ynet news site quoted Bahraini Foreign Minister Abdullatif bin Rashid Al-Zayani as saying that the crown prince accepted the invitation and would visit Israel “soon.”

During his visit to the Gulf kingdom, the first by an Israeli leader, Bennett met with Bahraini King Hamad bin Isa Al Khalifa, Crown Prince al-Khalifa, several ministers, and representatives of the Bahraini Jewish community, Xinhua news agency reported.

Bennett told reporters in Bahrain’s capital of Manama that he was seeking “a new regional architecture” with moderate Arab and non-Arab countries in the region to stand against “enemies who are fomenting chaos and terror.”

The meetings have contributed to “strengthening relations between both states and their governments,” said a joint statement issued after Bennett’s visit.

The leaders were particularly concerned about regional “nuclear threats, terrorist activity, religious extremism, poverty, and social challenges,” according to the statement.

They also discussed civilian, economic, business, and trade cooperation between the two countries, with a focus on pushing forward the talks on mutual investment and tax treatment.

ALSO READ: Bennett embarks on historic trip to Bahrain

Bennett landed in Manama on Monday, less than two weeks after Israel and Bahrain signed their first security cooperation deal that formalised mutual defense relations.

Bahrain normalised ties with Israel in September 2020 as part of the Abraham Accords, a series of agreements between Israel and Arab states sponsored by the US.

The visit also came amid Israel’s intensified diplomatic efforts to halt the ongoing talks between major world powers and Iran, Israel’s arch rival, to restore the 2015 nuclear pact.

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Arab News News World

Bennett embarks on historic trip to Bahrain

Israeli Prime Minister Naftali Bennett has arrived on a historic trip in Bahrain, marking the first-ever visit by a premier of the Jewish state to the Gulf nation…reports Asian Lite News

Before departing for Bahrain on Monday, the Prime Minister told reporters that he is scheduled to meet King Hamad bin Isa Al Khalifa and Crown Prince Salman bin Hamad al-Khalifa and hold a series of meetings, “the goal of which is to provide content and energy for the peace between the two countries”.

In a separate statement, the Prime Minister’s Office said Bennett and the Crown Prince will also discuss “additional ways to strengthen bilateral ties” and exchange views on “the importance of peace, advancement and prosperity in the region, and especially the advancement of diplomatic and economic issues, with an emphasis on technology and innovation”.

Bennett is slated to meet other Bahraini Ministers and representatives of the local Jewish community during the duration of the trip, Xinhua news agency reported.

ALSO READ: UK minister visits Bahrain to boost ties

During their meeting on the sidelines of the UN Climate Change Conference (COP26) in Glasgow last November, the Bahraini Crown Prince invited the Israeli premier for a first official visit.

In September 2020, Bahrain and the United Arab Emirate (UAE) agreed to normalise their ties with Israel under Us-brokered agreements, known as the Abraham Accords.

In December 2021, Bennett visited the UAE for the first time.