Inspired by Aramco IPO, Bahrain May Sell Stake in Oil Assets
Inspired by Saudi Aramco, Bahrain says it is considering selling a stake of its assets in the oil and gas sector as it seeks to reach financial balance by 2022.
Bahrain Deficit Shrinks to 4.7% of GDP in 2019
Bahrain's budget deficit shrank to 4.7% of gross domestic product (GDP) in 2019 from 6.3% a year earlier, the ministry of finance said on Monday citing preliminary fiscal results.
Bahrain Committed to Supporting Additional Oil Production Cut: Minister
Bahrain said on Monday it is committed to supporting an additional oil production cut of 600,000 bpd as recommended by Opec+'s joint technical committee at a meeting last week.
IMF: Oil-rich Gulf Arab states may Spend Savings in 15 Years
Energy-rich Gulf Arab states could burn through all their savings in the next 15 years as worries about climate change and supply from new competitors dampen oil prices, the International Monetary Fund warned on Thursday, advising the nations to rein in their spending.
Bahrain Central Bank Cuts One-Month deposit Rate
Bahrain's central bank said on Wednesday that it had decided to cut its one-month deposit rate by 15 basis points to 2.45% from 2.6%.
IIF Says Bahrain at Risk after Public Debt Exceeded GDP
Institute of International Finance (IIF) said that a number of Arab countries, including Bahrain, are at risk after their public debt exceeded the Gross Domestic Product.
Bahrain's Sovereign Wealth Fund Mumtalakat Hires Banks for Dollar Sukuk
Bahrain’s sovereign wealth fund Mumtalakat has hired banks to arrange fixed income investor meetings ahead of a potential issue of U.S. dollar-denominated sukuk, or Islamic bonds, a document by one of the banks leading the deal showed.
Agreement Approved for Italy’s Eni to Explore, Invest in Bahrain Bay Oilfield
The Shura Council approved on Sunday (December 15, 2019) an agreement between the National Oil and Gas Authority (NOGA) and Italian firm Eni for oil exploration and production.
S&P Revises Bahrain Outlook to Positive after Receiving $3.7bn from Gulf States
Global ratings agency Standard and Poors (S&P) revised its outlook on Bahrain to positive from stable following the implementation of the government's budget-deficit-reducing measures and other reforms.
Tender Board Opens 8 Bids to 4 Tenders
The Minister of Housing and Chairman of the Tender Board, Bassim Al-Hamer, yesterday presided over the Tender Board's weekly meeting, which discussed matters related to various government tenders. The Opening Committee of the Tender Board opened eight bids related to four tenders for four purchasing authorities.
Committee for Settlement of Stalled Real Estate Projects Sets Nov. 28 as Date to Distribute Money of "Amwaj Gateway" to Creditors
Bahrain's Judicial Committee for the Settlement of Stalled Real Estate Projects decided to set November 28, 2019 as a date to distribute the gains of "Amwaj Gateway" projects to creditors.
China-Bahrain Venture Fund Targets Middle East Tech Market
China’s MSA Capital and Al Salam Bank-Bahrain SALAM.BH launched a $50 million venture capital fund on Wednesday, using Bahrain as a hub to invest in sectors such as e-commerce and financial technology in the Middle East.
Bahrain LNG Terminal to Start Operations by Year-End - Teekay
Bahrain's first liquefied natural gas (LNG) regasification terminal is now expected to start operations by year-end, Teekay LNG Partners said in its quarterly financial results, later than initially expected.
Oil and Gas Holding Company Acquires Gov’t Shares in ASRY Company
The National Oil and Gas Authority (NOGA) has announced that the Oil and Gas Holding Company (nogaholding) has acquired the shares of the Government of the Kingdom of Bahrain in the Arab Shipbuilding and Repair Yard Company (ASRY).
Oil Minister Says Bahrain will Begin Experimental production in Two Oil Fields within Five Years
Oil Minister Mohammed Al Khalifa said Bahrain will soon begin experimental production from two oil fields, but noted that there is a five-year time limit to start the process.
Bahrain Central Bank Cuts All Key Rates by 25 Basis Points
Bahrain's central bank cut all its key rates by 25 basis points, following the U.S. Federal Reserve cutting rates by the same on Wednesday.
Public Debt Increases $2 Billion within Month: Official Statistics
Public debt in September increased by 752 million dinars (US$2 billion), reaching 12.045 billion dinars, according to the latest statistics issued by the Central Bank of Bahrain. This figure represents about 85% of the kingdom's GDP.
Saudi Arabia, Bahrain Sign $2.93bln Contract for Linking Bridge
Saudi Arabia and Bahrain have signed an 11 billion Saudi Riyal ($2.93 billion) contract for the transitional phase of a bridge between the two countries, Saudi state TV Ekhbariya reported on Tuesday.
Bahrainis' Investments Amount to $1.7 Billion in Jordan Stock Exchange
Bahrainis' investments in the Amman Stock Exchange in Jordan reached $1.7 billion at the end of September 2019, accounting for 18.1% of GCC investors' total trades.
Bahrain Making Good Progress on Fiscal Balance Plan -Finance Minister
Bahrain is making good progress on its fiscal consolidation plan and is on track to eliminate its deficit by 2022 as planned, Finance Minister Sheikh Salman bin Khalifa Al Khalifa said on Saturday.