gickw – Page 6 – Gulf Investment Corporation

Positive Action by Moody’s on GIC’s Credit Rating

July 14, 2010

On 6th July 2010, Moody's upgraded the Outlook on Gulf Investment Corporation's credit rating to Stable from Negative, while reaffirming its Baa2 Long Term rating. This enhancement on GIC's credit rating is a reflection of the significant improvement on all key parameters, including profitability, financial strength, leverage, capitalization and liquidity. The solid investment-grade ratings also reflect the strong support from shareholders & GIC's standing in the region. GIC posted a profit of US$ 91 million in 2009, and as of mid-year [...]

Crown Prince Inaugurates FOULATH’s US$ 3.5b Bahrain Steel

April 27, 2010

Under the patronage of His Royal Highness Prince Salman Bin Hamad Al Khalifa, Crown Prince and Chairman of the Economic Development Board of the Kingdom of Bahrain, Gulf United Steel Holding Company ("Foulath"), a leading global steel investment vehicle and holding company and the world's first fully integrated steel producer, today marked the official inauguration of Foulath and three of its major investments, which together with the existing facilities, comprise the Company's manufacturing complex in the Kingdom of Bahrain [...]

A Good Performance for Gulf Premier & Gulf Islamic Funds

June 15, 2009

Talal Al-Tawari, Head of GCC Equities Division at Gulf Investment Corporation has said that "the Gulf Premier Fund", the first of its kind in the Gulf region, managed by a team of leading GCC shares portfolio management experts and supported by the impressive experience of the Research Team, and which has attracted the attention of numerous GCC and foreign investors, has achieved a year-to-date return of 11.49%, as expected. He said that the GCC economies were the most stable [...]

GIC & ARCH Capital Group Ltd. Announced Joint Venture

March 18, 2008

Arch Capital Group Ltd. ("Arch Capital") and Gulf Investment Corporation ("GIC") announced on 17th March that they have entered into a joint venture agreement to establish Gulf Re, a new specialist reinsurer to be based in the Dubai International Financial Centre. GIC and Arch Capital will subscribe to a total of $400 million of capital. The initial paid up capital of Gulf Re will consist of $200 million, with an additional $200 million to be funded depending on the business [...]

GIC Posts Record Profit of US$ 212.9 Million for the 1st Half of 2007

July 18, 2007

The Chairman of the Board, H.E. Dr Yousef Hamad Al-Ebraheem, commended the excellent performance saying: "GIC has once again registered a strong performance, posting record profits, for the six months ending 30th June 2007. It is gratifying to note that GIC was able to continue the trend of profit growth, reflecting sound strategic planning, dynamism and proactive management. The corporation has been successful in identifying and capitalizing on opportunities in its diverse operating environments. GIC has emerged as a [...]

Bahrain Crown Prince Inaugurates 1st Private Power Plant Project

May 16, 2007

Bahrain's Crown Prince and Commander In-Chief of the Defence Force, His Highness, Shaikh Salman Bin Hamad Al Khalifa, yesterday inaugurated the first private power plant in Bahrain. The plant is owned by Al-Ezzel Power Company (AEPC) and was co-developed by Gulf Investment Corporation (GIC) and Suez Energy International (SEI). During his visit, His Highness toured the plant, discussed various aspects of the operation with senior executives and initiated the start up of a gas turbine. GIC and SEI won the right [...]

GIC’s ASF Fund Outperforms Industry Benchmark

March 11, 2007

Gulf Investment Corporation (GIC) today announced the outstanding performance of its flagship hedge fund-of-funds, the Alternative Strategies Fund (ASF). The strong returns achieved in 2006 were in the region of 10.8%, outperforming many other such funds currently available on the market and above the industry standard and started 2007 on a strong note by posting January and February performance of 2.65%. GIC provided the seed capital in August 1999 to create a multi-strategy fund-of-funds for GCC investors in close collaboration [...]

ACWA, GIC & Mitsubishi Signed the Shuqaiq Project

February 28, 2007

A consortium composed of ACWA Power Projects, Gulf Investment Corporation (GIC), and Mitsubishi Corporation entered today into a series of agreements with Water and Electricity Co. (WEC) for the development of the Shuqaiq Independent Water and Power Project (IWPP). The project, to be developed on a BOO (build, own, operate) basis, will be located at Shuqaiq, on the southwestern coast of Saudi Arabia and will substantially increase power and water supplies to the south region. The Project is the [...]