Word: bahrain
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Dates: during 1990-1999
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...MANAMA, Bahrain: Bahrain's ruling Suni government struck back at Shiite dissidents Monday, arresting 29 for allegedly attempting to overthrow the ruling Khalifa family with the help of Iran. "For nearly two years Bahrain's government has been experiencing political opposition and unrest from the country's Shiite majority," reports TIME's Scott MacLeod. "The Shiites have been demanding more political and economic representation from the ruling Sunni monarchy." Bahrain's Information Minister Mohammed al Muttawa said the plotters were part of an Iranian-backed group that wants to install a Shiite Muslim government modeled on Tehran's. Despite protests...
Profits at Tiffany jumped 34%, to a record $39 million in 1995, even as mass merchants such as Caldor and Jamesway were trooping into bankruptcy court and closing hundreds of stores. Gucci, the once-moribund designer and retailer of fashion apparel, has come roaring back under Bahrain-based Investcorp, which said just last week that it plans to sell its remaining 51% stake in Gucci to the public for some $1.1 billion this year. Investcorp will also sell shares in its resurgent Saks Fifth Avenue chain this year, six years after buying the once-flagging operation...
...MANAMA, BAHRAIN: A bomb blast ripped through the lobby of the Diplomat Hotel in the capital of this small Persian Gulf nation on Sunday evening, injuring at least 4 people. The Islamic Front for the Liberation of Bahrain, a radical Shiite group claimed responsibility for the bombing and threatened more attacks after the holy days of Ramadan end next week. Bahrani officials accused the Shiite Iranian government of sponsoring the bombing and encouraging terrorism, but the Iranians denied the charge. The attack is part of the Front's campaign against the Al Khalifa royal family which represents the emirate...
...which cost depositors billions of dollars. Much of the blame was placed on regulators who seemed oblivious to B.C.C.I.'s frauds. No one is suggesting that this is another B.C.C.I. case in the making. When questioned about Investcorp's practices, its officials noted that the bank is licensed in Bahrain and is well supervised. "It's a very strong regulatory agency," says Kessler...
...questions remain. Investcorp has thrived in the Bahraini environment, perhaps because some of the most powerful businessmen in the tiny island state are directors and major shareholders. When the bank was founded, it was granted an extraordinary privilege by the Bahrain government. At the time, foreigners were barred from buying stock in publicly traded companies unless they were citizens of Bahrain or of one of five neighboring countries in the Gulf Cooperation Council. The Bahrain authorities allowed Investcorp to sell 25.8% of its stock to a company owned entirely by citizens of Iraq (a non-gcc country), including Kirdar. Another...