• Launched in Q4 2024 during Gateway Gulf 2024 in Bahrain
• Assets under management (AUM) have grown 30% to USD 5.8 billion.
• Introduced diverse investment products including the ASB State Street Global Equity Fund, ASB MENA Equity Fund, ASB Technology Fund, and ASB Sukuk Fund.
• Played a key role in regional issuances with total size in excess of USD 2 billion
• Scheduled to launch the XASB Sukuk ETF.

MANAMA, Bahrain, Nov. 3, 2025 /PRNewswire/ — Al Salam Bank (Trading Code: SALAM on Bahrain Bourse; SALAM_BAH on Dubai Financial Market), one of the fastest growing financial groups in the region, celebrates the one-year anniversary of its asset management and investment banking arm, ASB Capital, marking a year of steady growth, product innovation, and regional expansion since its launch in 2024 during Gateway Gulf in Bahrain.

Rafik Nayed, Al Salam Bank Group CEO and ASB Capital Managing Director

Launched in November 2024, ASB Capital today manages USD 5.8 billion in assets, reflecting the trust of a growing global client base. Over the past year, the firm has strengthened its presence with the launch of several investment solutions, including the Global Equity Fund in partnership with State Street, MENA Equity Fund, Technology Fund, and Sukuk Fund, providing clients with diversified access to global and regional markets.

The past year also witnessed significant momentum across ASB Capital’s advisory and portfolio management mandates, expanding both discretionary and non-discretionary portfolios for high-net-worth individuals, family offices, corporates, and institutional clients.

As part of Al Salam Bank’s integrated financial services ecosystem, ASB Capital has been instrumental in driving the Group’s investment and capital markets activities. In 2025, the firm was instrumental in several regional issuances including Bapco Energies, Kuwait International Bank, and Solidarity Bahrain. In this space, several mandates have also been signed since then, reflecting ASB Capital’s strategic position in the regional landscape.

ASB Capital is also scheduled to launch XASB Sukuk ETF in partnership with Xtrackers by DWS, broadening access to fixed-income investments and reinforcing ASB Capital’s innovation-led approach to asset management.

On the sidelines of the Gateway Gulf Forum, Rafik Nayed, Al Salam Bank Group CEO and ASB Capital Managing Director, commented: “ASB Capital’s first year marks a pivotal chapter in Al Salam Bank’s long-term growth story. Our focus has been on building trust, deepening client relationships, and expanding our investment offerings. The growth in AUM, the launch of new funds, and the success of our capital markets transactions all reflect our commitment to delivering value to our clients. ASB Capital stands today as one of the region’s leading asset and wealth management firms, and we remain focused on unlocking new opportunities.”

Both Al Salam Bank and ASB Capital continue to leverage Bahrain’s robust ecosystem to scale their operations regionally, advancing their shared vision of providing holistic, client-centric financial solutions across banking, asset management, and investment advisory.

MANAMA, Bahrain, Nov. 2, 2025 /PRNewswire/ — Foulath Holding, an industrial holding company with major steel investments and the parent company of Bahrain Steel and SULB, today announced its partnership with Yellow Door Energy, the leading sustainable energy developer in the Middle East and Africa, to embark on a groundbreaking sustainability initiative to develop a massive 123-Megawatt-Peak (MWp) solar project. Developed under a power purchase agreement (“PPA”), this milestone project includes the construction of the world’s largest single-site rooftop solar power plant with a capacity of 50 MWp. It will comprise 77,000 solar panels installed across a new 262,000-square-meter stockyard shed.

Bahrain Sets New Global Benchmark with the World’s Largest Rooftop Solar Power Plant

The announcement was made at the third edition of the premier investment forum Gateway Gulf, which was held at the Four Seasons Hotel, Bahrain Bay. Hosted by Bahrain Economic Development Board, the forum gathered global investors, business leaders, policymakers, and  government officials from across the Americas, Europe, Asia and the Gulf region.

H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain EDB, said, “Today, the island nation of Bahrain stands at the forefront of sustainable global innovation. We are incredibly proud of this transformative project – marking the largest rooftop solar plant in the world.  This milestone not only strengthens our position as a regional leader in clean energy, but embodies our dedication to build a resilience, sustainable future in line with our national vision of elevating Bahrain’s international competitiveness.”

Mr. Meshary Al-Judaimi, Chairman of Foulath Holding, remarked: “Over the past several years, Foulath has invested approximately USD 250 million in various sustainability projects. These investments are a testament to our commitment to responsible operations, environmental stewardship and protecting the health and well-being of our community, thereby ensuring industrial development goes hand-in-hand with environmental care. The solar project serves as a continuation of that commitment.”

Sherif ElKholy, Managing Director, Head of Middle East and Africa at Actis, and Chairman of Yellow Door Energy, remarked: “Congratulations to Foulath Holding and Yellow Door Energy on this landmark PPA to develop the world’s largest single-site rooftop solar plant. I think this project proves how cost-competitive, clean energy can drive forward industry and set a new global benchmark for decarbonising steel production. As a leading investor in sustainable infrastructure and majority shareholder of Yellow Door Energy, we are proud to witness this signing and look forward to seeing this transformative project come to life.”

Marking the largest industrial-scale on-site solar projects in the world, the 123-MWp site will encompass ten rooftop solar photovoltaic (PV) plants and four ground-mounted solar PV installations and is expected to significantly decarbonise the Kingdom’s steel production. With a total of over 189,900 high-efficiency solar panels spread across 707,000 square meters, the project aims to generate 200 million kilowatt-hours (kWh) of clean energy in its first year of operation, effectively reducing carbon emissions by 90,000 metric tons. This initiative will contribute to Foulath Holding’s sustainability objectives and Bahrain’s Net Zero 2060 target.

The Awarding of Deqing Freshwater Pear Mussels Composite Fishery System

BEIJING, Nov. 2, 2025 /PRNewswire/ — On October 31 in Rome, Italy, the United Nations Food and Agriculture Organization (FAO) handed a blue certificate to representatives from Deqing, Huzhou, Zhejiang Province, officially including the county’s ” Deqing Freshwater Pear Mussels Composite Fishery System” in the United Nations’ “Globally Important Agricultural Heritage Systems” (GIAHS) list. This moment marks Huzhou’s second GIAHS honor (the first being the “Mulberry-Dyke and Fish-Pond System” in 2017) and increases the number of GIAHS in China to 25, ranking China first in the world.

FAO in Rome designated Deqing’s pearl-mussel system as GIAHS on Oct 31

Deqing’s long-standing history as the origin of artificial freshwater pearl cultivation, dating back to the Southern Song Dynasty, around 800 years ago, has led to the development of a unique composite aquaculture system. This system, which integrates various aquatic species, not only ensures a natural ecological cycle but also provides a sustainable model for balancing economic interests and environmental protection.

Notably, on October 22, during the UN GeoNow in Deqing, Dejan Jakovljevic, Director of Digitalization and Informatics of FAO said that digital technology and heritage protection are seamlessly connecting. We can use digital tools and modern technology to provide scientific support for heritage protection, sustainably safeguard the millennium-old pearl-harvesting ecosystem, and use digital means to promote “Deqing Freshwater Pear Mussels Composite Fishery System”, not only protecting it but also giving it new life.

This awarding is not only an affirmation of the over-800-year pearl-cultivating wisdom of the Chinese people but also opens a new window for international cooperation and the integrated development of the “pearl +” entire industrial chain in Deqing’s pearl industry, promoting Jiangnan pearls to the world. For Deqing, the GIAHS title and digital innovation are intertwined paths to the future, combining tradition and technology and providing a new way for agricultural heritage to rejuvenate.

GUANGZHOU, China, Nov. 2, 2025 /PRNewswire/ — On October 31, 2025, leveraging the platform of the 22nd World Congress of Chinese Medicine in Sydney, Australia, Wanglaoji hosted the launch ceremony of WALOVI international cans. And Guangzhou Wang Lao Ji Great Health Industry Co., LTD  officially signed an agreement with local enterprise Valucky Australia Pty Ltd. This event not only marks WALOVI international cans official entry into the Australian market, but also represents a significant milestone in Wanglaoji’s globalization journey, endorsed by both industry recognition and market value.

At the event, Li Xiaojun, Chairman of Guangzhou Pharmaceutical Holdings Limited, spoke about Wanglaoji’s international strategy, saying, “Chinese brands going global should not be limited to exporting products. We should also tell Chinese stories in a way that appeals to young people around the world, just like ‘Black Myth: Wukong’, so that Eastern culture can move from being known to being loved. Wanglaoji will continue to explore such new paradigms of cultural communication.”

Fang Dafeng, General Manager of Guangzhou Wang Lao Ji Great Health Industry Co., LTD, stated, “Over its 197-year history, Wanglaoji has undergone three key transformations—from traditional Chinese medicine, to herbal tea, to natural plant  beverages—consistently evolving to meet the demands of the times. “

Wanglaoji, in partnership with Valucky Australia Pty Ltd, will further expand its reach across Australia, including convenience stores, Chinese restaurants, and Asian restaurants. It will also enter major online platforms to establish a comprehensive distribution network. WALOVI international cans will subsequently be available on platforms such as Woolworths, Woozoo, and Costco, meeting local consumers’ demand for healthy beverages.

According to Frost & Sullivan, WALOVI has ranked first in global plant beverage sales for five consecutive years. Domestically, it holds nearly 50% of the plant drink market share. Over the past decade, the brand’s overseas market presence has expanded 6.5-fold, with an annual compound growth rate exceeding 25%.

From its early appearances on American streets in the beginning of the 20th century, to the launch of its English brand WALOVI in 2023, the global debut of its international cans in Shanghai this August, and recent expansions into Southeast Asia, the Middle East, Europe and America, and Australia, Wanglaoji is actively competing in the global market by using WALOVI as its brand symbol and WALOVI international cans as a new product echelon for going global.