Bloomberg: Future of Bahrain and Oman Economies Uncertain
The oil crash came and went but the debt pile it left across the Gulf is still growing, leaving the region’s energy-dependent economies more vulnerable next time a crisis strikes, reported Bloomberg.
Indian Ambassador Says Indian Community Living Well in Bahrain, Investments Reached $2 Billion
The Indian community is living well in Bahrain, said India's Ambassador to Manama Alok Kumar, adding that the country's leaders are behind the guarantee of this standard of living.
Bahrain's Annual GDP Growth Slows to 1.6 pct in Q3
Bahrain's annual growth in gross domestic product, adjusted for inflation, slowed in the third quarter of this year as both the oil and non-oil sectors lost momentum, the government's statistics website showed on Sunday.
Moody's Changes Bahrain Credit Rating to B2 with Stable Outlook
Moody's Investors Service yesterday changed Bahrain's rating to B2 with a stable positive outlook.
Amwaj Gateway Development Project Auction Postponed for 7th Time due to Absence of Bidders
Bahrain’s Judicial Committee for the Settlement of Stalled Real Estate Projects decided to postpone Amwaj Gateway development project auction to January 9, 2019, due to absence of bidders.
Bahraini Banks to Remain under Pressure: Moody’s
Moody’s expected that Bahrain banks would remain under high pressures due to economic factors.
Finance Ministry: VAT will be Implemented on Companies with Sales Exceeding BD 5 Million Annually
The Assistant Undersecretary for Development and Revenue Policies in the Finance Ministry Rana Ibrahim Faqihi said that the Value Added Tax (VAT) will be applied starting January 2019.
GCC Expats’ Remittances over $57.71 billion in First Half of 2018
The overall volume of remittances sent to Bahrain by expatriates living in the GCC countries grew by 4.8% over the first half of this year, to reach $57.71 billion, up from $55.05 billion during the same period in 2017.
Mumtalakat Acquires Commercial Offices in the United States
Bahrain Mumtalakat Holding Company announced yesterday that it has acquired a fully leased office complex for The Lash Group in the Charlotte, Metropolitan area, in North Carolina.
Bahrain Launches First Mobile ATM
The National Bank of Bahrain announced yesterday the launch of the first mobile ATM in its efforts to make cash services accessible to customers.
Standard Chartered Bank to Close 3 Branches in Bahrain, Fears of Dismissing Employees
Media sources said that Standard Chartered Bank of Bahrain announced on Monday (November 12, 2018) its intention to close 3 branches of it, in the Diplomatic Area, Zayed Town and Saar, starting December 20.
GCC Intends to Add New Taxes to Selective Tax
The GCC Committee of Undersecretaries of the Ministries of Finance held a meeting on Monday, 5 November 2018, in Kuwait. The committee stated that there is an intention to expand the scope of goods covered by the selective tax.
Bahraini Banks outside List of Safest banks in Middle East
The list of safest banks in the Middle East was free from any Bahraini institution, although the kingdom includes dozens of local, regional and international banks.
Banking Assets in Bahrain Reached 192 Billion USD by End of September
Bahrain's banking assets rose to $192 billion at the end of September 2018 compared to $189 billion in the same period last year.
Bahrain to Receive up to $2 Billion, First Slice of Gulf Aid: Reuters
Bahrain will receive up to $2 billion from its Gulf neighbors before the end of the year as the first installment of an aid package, and some funds have already arrived in state coffers, officials said on Thursday.
Bahrain’s Budget in Serious Condition, Awaits Gulf Support in November
A source close to the government said that “the budget of the ministries in Bahrain is in a very precarious situation, as there are no financial allocations to implement the projects approved in the financial budgets.
Saudi Arabia, Emirates and Kuwait to Weigh $10bn Aid Package for Bahrain: Bloomberg
Bahrain’s Gulf Arab allies are weighing plans for a five-year aid package to steady its finances and protect a currency peg seen as vital to regional economic stability, Bloomberg reported according to people with knowledge of the matter.
Bahrain Central Bank Raises Interest Rates by 25 bps
Bahrain’s central bank raised its interest rate on its one-week deposit facility to 2.50 percent from 2.25 percent, it said on Wednesday.
Bahrain Drops 8 Places in Global List of Financial Centres
The Global Financial Centres Index showed that Bahrain dropped eight places to 59th out of a total of 110 centres analysed.
Economic Magazine Reveals Bahrain Borrowing another $500 Million without Officially Announcing It
Sources say Bahrain has raised $500m from a private placement of bonds with five regional banks, reported Arabian Business.