On the 5th page of Akhbar Al Khaleej's December 15, 2008 issue, a strange advertisement appears. On that page, Al Salam Bank (a local Islamic bank) is congratulating Bahrain's World Trade Center on receiving CTBUH's award for the Best Tall Building, Middle East / Africa, 2008.
Why would a bank pay for a full page advertisement to market / sell a product or a service that is not its own? Al Salam Bank is 86% publicly owned and the rest is divided among institutional investors.
Might Al Salam Bank intends on vacating its premises in Al Seef District and move to World Trade Center? Perhaps. But based on the currently available information, this is a waste of shareholders money. I want to short the equity of Al Salam Bank and long the equity of Bahrain's World Trade Center.
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