The Bahrain All-Share Index gained nearly one per cent to reach 1,356.91 points on Monday, March 31. Bahrain Telecom surged by three percent, followed by Bahrain Duty Free and Ahli United Bank, both of which advanced by two percent. Ithmaar Bank closed unchanged. Earlier in the day, Ithmaar revealed in a filing to the bourse that it has implemented strategic initiatives “to turn the group around in 2014”. In 2013, it recorded a net loss of BHD29.9 million ($79.31m). According to the bank, although recurring income had picked up last year, it will aim to gather high profits through cost-cutting measures and cost efficiencies based on an upgrade of the technologies used by the group. Processes are already under way in Bahrain and Pakistan.
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