Crown Prince's Yacht Costs Enough to Cover Retirees' Salary Increase for 6 Years
When it comes to adding taxes in Bahrain, it is only applied to the hungry and unfortunate, who are in dire need of a single dinar and struggling to live day by day, while members of the royal family spare no expense.
Was Ministers Meeting to Help Bahrain Access Debt Markets Only?
A meeting of finance ministers from Saudi Arabia, the UAE, Kuwait and Bahrain, as well as the Arab Monetary Fund was convened to discuss the financial balance program, however, it didn't give out any concrete results.
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.
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.
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.
Bahrain Gets $2 Billion in Bond Sale after Deficit Spike
Bahrain sold $2 billion in three-tranche bonds on Wednesday, a document showed, after the coronavirus pandemic and low oil prices exacerbated its fiscal deficit and pushed total outstanding debt to nearly $40 billion.
Gulf Air Cancels 10 Airbus A220 Order
FlightGlobal website said that the Gulf Air appears to have cancelled the 10 Airbus A220-100 it ordered nearly a decade ago. Gulf Air had signed for the aircraft in mid-2011.
Supporting Countries to Postpone Scheduled Aid Payment to Bahrain due to Coronavirus
Cross-cutting sources said that the Gulf countries supporting Bahrain recently announced the postponement of a payment scheduled last September under the financial balance program.
Bahrain's Foreign Reserves Fall, Debt Increases amid Delay in Gulf Aid Payments
In Bahrain, additional data and news indicate that the financial crisis has intensified as the government has asked a US company to review the fiscal balance program, the main plan for fiscal management, supported by three Gulf allies.
Bahraini Gov't Decides to Search for Alternative for Financial Balance Program
The story of the Financial Balance Program started in October 2018 and ended in October 2020.
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.
McLaren Considers Sale of Global Headquarters to Raise Cash
Luxury sports-car maker McLaren Automotive is considering a sale of its global headquarters as part of a refinancing strategy the company announced earlier this year.
Nasser bin Hamad Purchases Horse Worth over $3 Million
Chief of Strategic Security Agency and King's son, Nasser bin Hamad, bought a horse worth over $3 Million, media websites specialized in auctions of selling horses and other animals reported.
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.
Moody's Forecasts Gulf Sovereign Sukuk Issues to Hit $34bln in 2020
Sukuk issuance by Gulf sovereign borrowers is expected to rise to around $34 billion this year, from $25 billion in 2019, as funding needs rise as a result of lower oil prices and the coronavirus crisis, Moody's said.
Gulf Deficits Expected to Hit $490bln by 2023, Standard & Poor's Report
Countries of the energy-rich Gulf are expected to accumulate $490 billion in deficits by 2023 due to the double hit of low oil prices and the coronavirus slowdown, Standard and Poors said in a report.
Despite National Bank of Bahrain Loan, McLaren Needs More Money
McLaren Group says falling sales of its vehicles means that it will need to raise further funds, despite securing a life-saving 150 million pound ($190 million) loan in June.
Gov't Team Approves "Controversy" Urgent Decisions Package to Extend Pension Fund to 2086
A government meeting in Bahrain discussed with the Social Insurance Organization's Board of Directors an urgent reform package aimed at extending pension and insurance funds to 2086.