Bahrain Revenues to Rise by 1.8% as VAT Increases to 10%: Moody's
Moody's Agency predicts that Bahrain will be able to increase the Value Added Tax from 5% to 10% at the beginning of next January, to increase state revenues by about 1.8% of GDP.
Bahrain's Balanced Budget Delay Unlikely to Deter Debt Investors
Bahrain's delaying of its fiscal balance program, which pushes a zero-deficit target by two years to 2024, is unlikely to deter investors from buying its debt, amid expectations of continued support from richer Gulf allies.
Iran's Central Bank launches legal action against Bahrain over Confiscated funds
The Central Bank of Iran announced taking legal action to file a lawsuit against Bahrain.
IMF Says Bahrain Needs Urgent Fiscal Adjustment after Coronavirus Pandemic
Once it recovers from the economic downturn instigated by the coronavirus pandemic, Bahrain will likely need "an urgent fiscal adjustment," Ali Al-Eyd, the fund's Bahrain mission chief, said in an interview with Bloomberg.
Fitch: Bahrain may Need New Financial Assistance as of 2023
Bahrain will likely need further financial support from its Gulf neighbors despite reform measures, Fitch Ratings' lead Bahrain analyst Toby Iles said on Monday.
Saudi PIF in Talks to Acquire Stake in McLaren
Saudi Arabia's Public Investment Fund and Ares Management will invest £400m into the British-based automotive giant, Sky News reported.
Bahrain’s Financial Situation Dire, Still Needs Its Neighbors Support: Bloomberg
Bahrain will need more Gulf support in the medium term, financial analysts say, noting that Bahrain has received more than half of the planned support in the financial balance program which the government signed in partnership with three Gulf states.
Fitch: Mumtalakat Debts Reach BHD643 Million
Fitch Ratings has affirmed Bahrain Mumtalakat Holding Company's (Mumtalakat) Long-Term Issuer Default Rating (IDR) and senior unsecured rating at 'B+'. The Outlook is Stable.
Bahrain Sovereign Fund (Mumtalakat) Loss Exceeds Half Billion in 2020
Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, announced its consolidated financial results for the year ended 31st December 2020. The results reflect financial and operational performance across the Mumtalakat group ("Group").
King Appoints One of His Family Members as CBB Deputy Governor
King Hamad bin Isa Al Khalifa issued Decree (70) of 2021 appointing Shaikh Salman bin Isa bin Ibrahim Al Khalifa as Central Bank of Bahrain (CBB) Deputy Governor with the rank of undersecretary.
S&P Revises Bahrain's Outlook to Negative on Continued Fiscal Pressures
S&P Global Ratings on Friday revised Bahrain's outlook to 'negative' from 'stable', citing the country's pace and ability to service its finances and external debt.
Bahrain's NOGA Eyes Upsizing Sukuk Deal to $600 Million, Tightens Guidance
Bahrain's National Oil and Gas Holding Company (NOGA Holding) is expected to sell between $500 million and $600 million in eight-year sukuk, or Islamic bonds, on Wednesday, a document from one of the banks on the deal showed.
Mumtalakat is the Ninth Largest Arab Sovereign Fund
Bahrain's "Mumtalakat" has been ranked as the ninth-largest Arab sovereign fund with a value of $19 billion by Bloomberg Al-Sharq.
Bahrain to Borrow BD300 Million in 2021 to Cover Budget Deficit: Finance Ministry
The Shura Council's financial and economic affairs committee recommended the approval of a decree that raises public debt ceiling from BD13 to 15 billion.
U.S. Commerce Sets Anti-Dumping Duties on Aluminum Sheet from 16 countries
The U.S. Commerce Department on Tuesday issued final anti-dumping duties on common alloy aluminum sheet from 16 of 18 countries investigated, including up to 242.8% on imports from Germany and 83% on imports from Bahrain.
Bahrain: Parliament Approves 2021-2022 Budget with Deficit Reaching 1.2 Million BD
The House of Representatives approved (Tuesday, March 2, 2021) the State Budget draft for 2021-2022
Bahrain's Economy to Grow 3.3% this Year, must Cut Public Debt: IMF
Bahrain's economic recovery from the COVID-19 pandemic will be gradual, with growth projected at 3.3% this year after a 5.4% contraction in 2020, the International Monetary Fund said on Sunday.
Bahrain will Likely Need further Gulf Financial Support - Fitch
Bahrain will likely need further financial support from its Gulf neighbours despite reform measures, Fitch Ratings' lead Bahrain analyst Toby Iles said on Monday.
Finance Minister Says Public Debt Interests would Reach BD700 Million in 2021
Minister of Finance and National Economy Salman bin Khalifa Al Khalifa said that the public debt interest in 2021 new budget represents more than 700 million dinars and will exceed 750 million dinars in 2022.
Bahrain Economy Shrank by 6.9% in Q3
Bahrain's real gross domestic product declined by 6.9% year on year in the third quarter of 2020, the government said in a statement on Tuesday.