Jan 20, 2013
Letter from Bahrain’s Prime Minister to Prince Alwaleed

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), received in his office in Riyadh on Saturday 19th January 2013, HE Sheikh Rashid Bin Khalifa Alkhalifa Bahrain’s Interior Ministry Undersecretary for Nationality, Passports and Residence Affairs and an accompanying delegation. The Delegation included HE Sheikh Khalifa Bin Rashid Alkhalifa, HE Mr. Khalid Al Sha'er, Assistant Undersecretary of the Ministry for Ceremonies and Protocol and Mr. Khalid Al-Kuwari, Sheikh Rashid Bin Khalifa Alkhalifa’s Office Manager. The meeting was also attended by Ms. Heba Fatani, Senior Executive Manager, Corporate Communications Department, Ms. Intisar AlYamani, Executive Manager, Corporate Communications Department and Mr. Fahad Bin Saad Bin Nafel, Executive Assistant to HRH the Chairman.

The meeting began as Sheikh Rashid thanked Prince Alwaleed for giving him the opportunity to meet with him. During the meeting, the two discussed the warm friendship between their two countries and referred to a number of social and economic issues. The meeting touched upon the latest developments in the GCC, and globally. Also, Prince Alwaleed referred to KHC’s investments in Bahrain in the financial sector via Citigroup and in the hotel and tourism sector via Four Seasons management that is currently under construction and Mövenpick management and through his private investments that include Rotana and Alarab news channel HRH expressed his readiness to further develop his investments in Bahrain. Moreover, Sheikh Rashid handed Prince Alwaleed a letter from HRH Prince Khalifa Bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain.

In December 2012, Prince Alwaleed Chairman of Rotana Group and the owner of Alarab News Channel, visited the Kingdom of Bahrain. During Prince Alwaleed’s visit to Bahrain His Highness met with HRH Prince Khalifa Bin Salman Al Khalifa. The two discussed the relocation of Rotana and the forthcoming relocation of Alarab to the Kingdom of Bahrain.

Prince Alwaleed: “The Rotana & Alarab HQ relocation to Bahrain coincides with the handover of the GCC Summit presidency from Saudi to Bahrain.”

In 2012, Prince Alwaleed received in his office in Riyadh HE Sheikh Fawaz Bin Mohammed AlKhalifa, and an accompanying delegation. Moreover, Prince Alwaleed hosted a dinner in honor of his guest at Kingdom resort in Riyadh.

In May 2012, HM King Hamad awarded Prince Alwaleed the “The Bahrain Medal of the First Order” the countries highest honorary medal.

Also, in May 2012, Prince Alwaleed was welcomed by HM King Hamad Bin Isa Al Khalifa who hosted a dinner in honor of His Highness at the Bustan Palace in AlManama during HRH’s visit to Bahrain. Furthermore, while in Bahrain, Prince Alwaleed and HE Sheikh Fawaz Bin Mohammed Al Khalifa, signed the agreement for the Rotana and Alarab Channel headquarters’ new location in Manama, Bahrain and held a Press conference.

Prince Alwaleed commented: “This is the strategic step for Rotana and Alarab news channel and a giant leap for media in the region.”

In February 2012, Prince Alwaleed and HRH Prince Salman Bin Hamad AlKhalifa Crown Prince of the Kingdom of Bahrain attended the inauguration of “Bahrain the Capital of Arab Culture 2012” under the patronage of HM King Hamad Bin Isa Al Khalifa, at the National Museum of Bahrain. The inauguration was also attended by HE Sheikha Mai Bint Mohammed Al Khalifa, HE Sheikh Khaled Bin Ahmed AlKhalifa, Foreign Minister in Bahrain, government officials and dignitaries. Manama has been selected as the capital of Arab culture for 2012. This important cultural event is the result of years of continuous effort to preserve the cultural heritage and national knowledge, the preservation of national identity, promote cultural interaction and cultural exchange among Arab countries.

In December 2011, Prince Alwaleed congratulated HM King Hamad, the government and the people of Bahrain for the national team gold medal victory in the 12th football championship of the Arab Games which concluded in Doha, Qatar. To mark the occasion, Prince Alwaleed presented $10,000 as a gift to each team member and stressed the importance of supporting sports and athletes in the GCC countries.

Prince Alwaleed visited the Kingdom of Bahrain early 2011, during the visit HRH met with HM King Hamad. The main purpose of the Prince’s visit was to affirm his confidence in the leadership of HM King Hamad and HRH Crown Prince Salman Bin Hamad Al-Khalifa, wishing Bahrain stability and prosperity. Moreover during the visit, Prince Alwaleed met with Dr. Essam Fakhro, Chairman of Bahrain’s Chamber of Commerce and Industry, and its members. In addition, a press conference was held where HRH addressed the media and the Chamber of Commerce members confirming his confidence in the leadership of the King and Crown Prince. The Prince also referred to the banks and companies that exist in Bahrain, and re-affirmed his investment presence in the country though KHC. Prince Alwaleed also expressed his readiness to further invest in the country. In turn, the head of the chamber and its members welcomed HRH’s visit and thanked him for his support of their local economy.

Prince Alwaleed also referred to his long established warm relationship with the Kingdom of Bahrain in his recent interview with US CNBC on March 11th 2011 and his confidence in the leadership of HM King of Bahrain and HRH Crown Prince of Bahrain wishing Bahrain stability and prosperity.

KHC’s presence in Bahrain is through its indirect investments in the banking sector through Citigroup which has been operating in Al Manama for the past 40 years, and in the hotels sector through Mövenpick hotel in Bahrain that is managed by Mövenpick Hotels and Resorts in which KHC owns a 33.3% stake. In addition, the Four Seasons hotel in Bahrain will be opening soon, managed by Four Seasons Hotels and Resorts in which KHC holds a 47.5% stake and is co-owned by Bill Gates’ Cascade in which the company also holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp, the Company’s Chairman.