Kuwaiti Economic Report Expects 2022 Bahrain Budget to Record First Surplus in 14 Years
Bahrain's 2022 budget will record a surplus for the first time in 14 years, supported by the increasing crude oil prices, a Kuwaiti economic report predicted Sunday.
Bahrain's Public Debt Increases to 14.6 Billion BD, with 9% Year-on-Year Increase
Central Bank of Bahrain's data showed that public debt increased by 9% year-on-year at the end of the first quarter of 2022.
Bahrain Embassy in UK Confirms Talks to Buy AC Milan then Deletes Tweet
The Bahrain Embassy in the United Kingdom has confirmed Investcorp, based in Bahrain, opened talks to buy the Italian AC Milan, currently owned by Elliott Management, for $1.1 billion.
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.
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.
IMF Urges Bahrain to Implement Fiscal Reforms, Contain Rising Public Debt
The International Monetary Fund (IMF) urged Bahrain to implement fiscal reforms and lower its public debt, which increased sharply last year as the coronavirus crisis hurt the small oil-producing Gulf state.
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.
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'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 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.
Gov't Extends Wage Support of Workers in Affected Sectors until End of 2020
The Bahraini Cabinet announced on Monday extending the 50% wage support of citizens working in the sectors affected with Coronavirus until the end of this year.
Oil Price: Gulf Economies in Dire Straits due to their Overreliance on Oil
Gulf nations have been putting on a brave face and touting the strength of their economies, claiming they can withstand any scale of shocks during the oil crisis. Unfortunately, a growing body of evidence suggests pretty much the opposite: the Gulf economies are in dire straits thanks to their overreliance on oil.
Central Bank of Bahrain Expects Public Debt to Reach 110% of GDP
A recent report from the Central Bank of Bahrain predicted that government debt will represent 110% of GDP by the end of this year, with a decline to about 105% in 2021.
Bahrain's Economy Shrank by 8.9% in Second-Quarter amid Coronavirus Restrictions
Bahrain's economy contracted by 8.9% year on year in the second quarter, government data showed on Sunday, as the small Gulf state suffered from restriction measures to contain the new coronavirus.
Real Estate Regulatory Authority Temporarily Suspends Golden Gate Project License
Bahrain's Real Estate Regulatory Authority (RERA) has issued an edict suspending the license given to GG Developers SPC, the developer of Golden Gate project, due to the violations it committed.
Fitch Downgrades National Bank of Bahrain, Bank of Bahrain and Kuwait
Fitch Ratings has downgraded National Bank of Bahrain and Kuwait B.S.C.'s (BBK) Long-Term Issuer Default Rating (IDR) to 'B+' from 'BB-'. The Outlook is Stable.
Bahrain Sells $2 billion in Sukuk and Bonds
Bahrain sold $2 billion in a dual-tranche bond deal comprising seven-year sukuk and 12-year conventional bonds on Wednesday, its second international debt sale this year, a document showed.
GFH: Raising the Ownership Stake in the Global Bank to 50.4%
Bahrain-based financial group GFH said in a statement that it had raised its stake in Global Bank to 50.4 percent from 28.6 percent after Bahrain's central bank agreed to increase its stake to as much as 60 percent.
Bahrain Exports Fell to $1.4 Billion in Q2
The Kingdom's trade deficit fell to BD485 million ($1.29) during the second quarter 2020 compared to BD492 million ($1.31) for the same quarter of the previous year, recording a 1.4% decrease on an annual basis, the Information & eGovernment Authority (iGA) stated.