10% of Bahraini Families Receive Social Aid
Official numbers showed that around 15 thousand Bahraini families receive social aid from the Ministry of Labor and Social Development in 2016.
Minister of Commerce: Saudis Own 5% of Bahrain’s Commercial Records
Bahraini Minister of Industry and Commerce Zayed Al-Zayani said that “The Saudi market is a priority for us. The Saudi investor center was announced during the visit of the Saudi Crown Prince. This will facilitate the establishment of Saudi investor companies who owns 5% of Bahrain’s records.”
KSA to Carry Out $533M worth Projects, Two Housing Projects in Wadi Al Sail, Galali
Saudi Ambassador to Bahrain Abdullah bin Abdulmalik Al Sheikh said nine agreements will be signed by both countries on March 19 to carry out projects worth SR 1 billion ($ 533 million) in Bahrain.
US Acting Assistant State Secretary Says US Company Named Contractor for Alba’s sixth potline in $3.5bn Project
US Acting Assistant State Secretary at Bureau for Near Eastern Affairs announced that Bechtel has been selected as EPCM contractor for sixth potline for the Alba aluminium smelter in Bahrain.
Bahrain Inflation Augments by 0.8% last January
Bahrain’s Muslim Brotherhood-affiliated Naba weekly newspaper said official figures issued last week suggest a record high augmentation in consumer prices (inflation) in the Kingdom of Bahrain during January 2017.
Bahrain’s Public Debt Rises to 8.68 Billion BD at the End of November
Bahrain’s public debt continued to rise reaching 8.68 billion BD in November 2016, which constitutes 72% of the Gross domestic product (GDP).
Fitch Affirms Bahrain at 'BB+'; Outlook Stable
Fitch Ratings has affirmed Bahrain's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB+' with a Stable Outlook. The Country Ceiling has been affirmed at 'BBB+' and the Short-Term Foreign and Local Currency IDRs at 'B'.
Bahrain's Sugar Refinery Stopped Production in October
Bahrain's Arabian Sugar Refinery stopped production in October and is preparing for a change of ownership, a source close to the matter told Reuters on Sunday.
Ibrahim Sharif: Bahrain Debts Exceed BD 23B, SIO to go Bankrupt in 2020
Bahrain’s prominent opposition figure and economist, Ibrahim Sharif, said that Bahrain is living in a state of real bankruptcy, and that it has debts amounting to more than 21 billion Bahraini Dinars.
Bahrain's Investcorp Targets U.S. Service Sector, UK Property
Bahrain-based Investcorp is responding to the election of U.S. President Donald Trump and Brexit by seeking investments in U.S. business services and British real estate, the private equity firm's Co-Chief Executive Rishi Kapoor said.
Parliament Grants CBB Authority of Selling Assets, Puts BIBF under Bank’s Power
The Parliament passed a bill in its session held on Tuesday (February 7, 2017) expanding the authorities of Bahrain Central Bank, allowing it to perform its role more effectively and putting Bahrain Institute of Banking and Finance under its control.
Bahrain Faces Sensitive Economic Conditions, Electricity Authority in Dire Need for Revenue Increase
Bahraini daily newspaper Al-Wasat, said that the government had expressed reservations on two proposals presented by the Council of Representatives, suggesting a reduction in electricity and water bills, reminding them of the country’s sensitive economic conditions.
VAT to Include 90 Commodities, New Taxation Apparatus to Take Over
Information Affairs Minister Ali bin Mohammed Al-Romaihi today held a press attended by Finance Undersecretary Arif Khamis, to cast light on the Gulf Cooperation Council’s (GCC) unified VAT agreement and the GCC’s unified agreement on selective taxation.
Ministry of Health Raise Expatriates’ Medical Fees to 7 BD, Stops Dispensing of Medications from Official Pharmacies
Ministry of Health increased the health services fees on the expatriates. The general medical consultation fees reached 7 BD as well as that of the dental consultation.
World Bank: Gulf Countries to Achieve Surpluses by 2019, Except Bahrain
The World Bank expected that Bahrain’s budget deficit in the next three years will continue, before it is reduced to around 0% of the Gross Domestic Product (GDP) by 2019.
National Guard Chief Visits Pakistan, Meets Pakistani Military Intelligence Director, Chief of Staff
According to Bahrain News Agency (BNA), Bahrain’s National Guard Chief, Mohammad bin Isa Al Khalifa, met during his visit to Pakistan, with Director General of the Pakistani military intelligence apparatus, and the Pakistani Chief of Staff.
Bahrain Heads to Abolish Labor Sponsorship System Next April
Bahrain is moving towards canceling the Kafala (Sponsorship) labor System, claiming it is trying to fix the status of the labor market.
Bahrain's Investcorp to sell Optiv Security stake to KKR
Investcorp Bank has agreed to sell its stake in cybersecurity company Optiv Security Inc to private equity firm KKR & Co, the Bahrain-based private equity investor said in a bourse statement Tuesday.
Three Gulf Central Banks Hike Rates to Avert Currency Pressure after Fed Move
Saudi Arabia, Kuwait and Bahrain raised interest rates within minutes of the U.S. Federal Reserve's decision to do so on Wednesday as they scrambled to avoid downward pressure on their currencies due to low oil prices.
Bahrain Central Bank Raises Policy Rates 25 bps
The central bank of Bahrain said on Wednesday it was raising the policy interest rate on its one-week deposit facility by 25 basis points to 1.00 percent.