Gov't Borrows Half Billion Dollar despite Dramatic Increase in Oil Prices
The government is intending to borrow again from the domestic market by issuing development bonds worth 200 million dinars (half a billion dollars), despite the dramatic rise in oil prices.
Crown Prince Issues Guide Regulating Public-Private Partnerships
Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, issued Edict (30) of 2022, promulgating the issuance of a guide regulating public-private partnerships and assigned the Minister of Finance and National Economy to implement the provisions of the guide.
Finance Minister from Davos: Bahrain's First-Half Deficit will be Much Narrower than Expected
Bahrain expects a significantly narrower budget deficit for the first half of 2022 due to high oil prices, Minister of Finance and National Economy Salman bin Khalifa Al-Khalifa said on Monday.
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.
Soccer Investcorp, Elliott could Clinch AC Milan Deal Friday: Reuters
Bahrain-domiciled asset manager Investcorp could agree the buyout of Italian soccer club AC Milan as early as this week, when an exclusive negotiation period with U.S. fund Elliott is set to end, Reuters said.
Bahrain to Make Over $16 Million a Day after Oil Barrel Price Exceeds $111
The price of Bahrain's crude oil, categorized as Arab medium oil, surged above $111 per barrel, which will provide the state budget with $16 million per day, due to implications of the Russian-Ukrainian military crisis on global markets.
Bahrain Says All options are Open to Privatizing Oil and Gas Sectors, including Selling Stakes
Bahrain is considering hiring consultants to help sell stakes in some oil and gas assets, as it looks to open the sector to foreign investment for the first time in decades, Bloomberg reported.
Bahraini Interior Minister Discusses Security Cooperation, Exchange of Expertise with His Israeli Counterpart
Bahrain's Interior Minister Rashid bin Abdullah Al Khalifa discussed with his Israeli counterpart, Omer Barlev, security cooperation and exchange of expertise.
Citizens Flock to Stores Days before VAT Increases
Merchants and shopkeepers in Bahrain said that citizens intensified their purchases before the end of this year, to acquire a number of goods or buy devices and cars, days before raising vat to 10%.
Bahrainis Bought AED 228 Million Assets in UAE in 2020, Trade Exchange between Two Countries Reached AED 20 Billion (Emirati Statement)
The Emirati Ministry of Finance said that trade exchange between the UAE and Bahrain in 2020 was valued at AED20.1 billion.
Iran Banks Hail Arbitration Panel Win over Bahrain
Two leading Iranian banks have welcomed a decision by a Hague-based tribunal to order Bahrain to pay them more than USD270 million in compensation for its 2015 closure of a bank they had supported.
Russia Today: Iran Wins Lawsuit against Bahrain, Fines it 200 Million Euros
Russia Today published a piece of news on its website stating that Iran won a lawsuit against Bahrain which was fined 200 million euros.
Bahrain Central Bank Governor Expects Real GDP to grow 3.1% in 2021
Bahrain's central bank governor, Rasheed Mohammed al-Maraj, said in an interview published on Sunday he expects real gross domestic product to grow 3.1 percent in 2021.
Bahrain Hires Banks for Dollar Bonds and Sukuk
Bahrain has hired a group of banks to arrange calls with fixed income investors ahead of a planned U.S. dollar-denominated debt issuance, a term sheet reviewed by Reuters showed on Tuesday.
Bahrain's Foreign Reserves Drop
Official data showed, on Sunday, that the net foreign assets of the Central Bank of Bahrain decreased last September by 6.17% on a monthly basis.
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.