MANAMA: Gulf Air is one of 12 carriers targeted for takeover by British Airways (BA) and Iberia on their way to creating the world's largest airline group, it is being claimed. The 12 carriers, said also to include Qantas, Cathay Pacific and Air Berlin, have reportedly been shortlisted after BA and Iberia initially considered 40 airlines.

MANAMA: Blackburn Rovers are currently doing their own due diligence on the potential buyers, according to a report.

MANAMA: With around 1.6 billion Muslims worldwide and $950bn in assets under the management of the Islamic finance industry, the room for growth in Islamic exchange traded funds (ETFs) is evident.

MANAMA: Two Bahrain National Insurance (bni) employees have been awarded AGII designation.

MANAMA: Al Areen Palace & Spa, formerly the Banyan Tree Bahrain, is the latest luxury property to be a member of the prestigious Leading Small Hotels of the World.

MILWAUKEE: President Barack Obama, scrambling to jump-start job creation in a sluggish US economy, yesterday announced a six-year plan to revamp ageing roads, railways and airport runways with an initial $50 billion investment.

KUWAIT: Kuwait's Burgan Bank, the commercial banking arm of Kuwait Projects Company (Kipco), is planning a roadshow for a dollar-denominated bond issue soon, it was reported yesterday.

MANAMA: HP yesterday opened its Middle East Warehouse and service centre in Jebel Ali Free Zone, aiming to extend the company's reach and proximity to its customers in the region.

BRUSSELS: Plans for the giant Nabucco gas pipeline to bring Central Asian gas to Europe took a step forward yesterday, when the consortium announced the involvement of three international financial institutions.

ALGIERS: Algeria is to require any foreign company seeking a share of its $286 billion infrastructure budget to form a joint venture with an Algerian firm to qualify for state contracts.

MANAMA: Cityscape is to host the first Cityscape Connect business breakfast in Bahrain.