Economy Bahrain’s economy to grow 3.5% next year says IMF Bahrain’s economy is projected to remain at 3 percent growth in 2024 but accelerate to 3.5 percent growth in 2025, supported by manufacturing and private sector credit expansion, the International Monetary Fund (IMF) has said. The medium-term real GDP growth is projected at around 3 percent, driven by non-hydrocarbon GDP, which will account for close […] November 28, 2024
Opinion Aviation BA drops Kuwait after 60 years… but why? A simple hard-headed business decision is the most likely explanation November 27, 2024
Manufacturing Bahrain plans free zones to draw manufacturers Bahrain is to set up new industrial free zones within the kingdom with a view to attracting key players in the foodstuffs, pharmaceuticals and garments industries and generating thousands of new jobs. The plans are for the Muharraq governorate, situated in the north east of the Gulf island, which is also home to Bahrain International […] November 25, 2024
Real Estate Bahrain’s GFH buys $300m US student housing assets GFH Partners, the DIFC-based asset management arm of Bahrain-based GFH Financial Group, has acquired student housing in the United States valued at $300 million. The assets have been added to GFH Partners’ US student housing platform, which now has more than 5,500 beds and assets under management worth $900 million. The assets are 99 percent […] November 25, 2024
Aviation British Airways reverses decision to scrap Bahrain flights British Airways has reversed its decision to scrap flights to Bahrain but is still reviewing plans to end direct flights to Kuwait. The UK’s flag carrier announced two weeks ago that it would end its direct flights to Bahrain and Kuwait in the first quarter next year due to delays to the delivery of Rolls […] November 21, 2024
Economy Bahrain economy The latest economic and demographic indicators for Bahrain, including GDP, inflation, oil prices, trade, population, unemployment and more November 20, 2024
Finance Bahrain arbitration court strengthens Singapore ties Bahrain is seeking to emulate the success of a Singapore-based arbitration panel by launching its own International Commercial Court. It will target ultra-high-net-worth individuals and family offices, which are private wealth management advisory firms serving multi-generational wealthy families. The specialised arbitration centre is modelled on the Singapore International Commercial Court (SICC) and is to be […] November 20, 2024
Construction Bahrain to tender for ‘airport city’ in early 2025 Bahrain will issue tenders early next year to build a new “airport city” based around the existing Bahrain International Airport. The project will include commercial and residential development, according to Mohamed Yousif AlBinfalah, CEO of Bahrain Airport Company. “We have a significant amount of space that will be coming to the market soon for development,” […] November 19, 2024
Markets More companies tipped to list on Bahrain Bourse AlAbraaj Restaurants Group’s debut on Bahrain Bourse – the first listing on the exchange in more than five years – will pave the way for more activity, experts have told AGBI. The AlAbraaj initial public offering (IPO) this month is the first since the listing of APM Terminals Bahrain in 2018, according to consultancy EY. […] November 18, 2024
Aviation Bahrain identifies offshore plot for new airport Bahrain is to build a new airport on reclaimed land in the north west of the country. Just three years after the new terminal building of Bahrain International Airport was officially opened, plans are being developed for a new facility following the conclusion of a study looking into possible locations for the greenfield project. “It’s […] November 18, 2024
Aviation Bahrain seeks reversal of BA route cut Talks are underway between Bahrain and UK officials in a bid to reverse a decision by British Airways to cease flights to the Gulf state. The UK’s flag carrier announced earlier this month that it would be stopping direct flights to Bahrain and Kuwait as a result of supply chain pressures, which it is said […] November 15, 2024
Banking & Finance Bahrain bank merger to complete in 2025 A merger between National Bank of Bahrain (NBB) and Bank of Bahrain and Kuwait (BBK) is expected to be completed in 2025. Plans to join the two banks were announced to the Bahrain Bourse earlier this year and preliminary proceedings started this month. “Considering that we are almost at the end of this year, I […] November 15, 2024
Analysis Health Bahrain government rebuffs citizens’ quota in healthcare A unanimous call by the Bahraini parliament for half the jobs in private healthcare to be reserved for citizens has been rejected by the government on the grounds of possible harm to patients and the potential impact on foreign direct investment. Government officials told the National Assembly that the proposed quota would constrain private healthcare’s […] November 14, 2024
Mining Alba to decide on Ma’aden merger early next year Aluminium Bahrain (Alba) expects to decide whether to merge with subsidiaries of Saudi Arabia’s Ma’aden by the first quarter of 2025, its chief executive said on Wednesday. Alba, Bahrain’s largest listed company with a market valuation of almost BHD2 billion ($5.3 billion), on September 16 announced it had entered a non-binding agreement with Ma’aden. Under […] November 13, 2024
Markets Restaurant chain AlAbraaj plans IPO on Bahrain Bourse AlAbraaj Restaurants Group is planning to list on Bahrain Bourse before the end of 2024. Founded in 1987, the restaurant chain manages 15 brands across 37 locations in Bahrain. It employs about 1,200 people. AlAbraaj also franchises five restaurants, three of which are in Saudi Arabia – Khobar, Jeddah and Riyadh. The company is finalising […] November 11, 2024
Video length: 03:54 VIDEO Banking & Finance Investcorp refocuses on inward GCC investment Bahrain’s Investcorp is involved in investment-related initiatives worth $4 billion, the latest of which is a commercial partnership with Awaed, the first commission-free Saudi trading platform. After investing heavily in the US and Europe, it is now focusing more to GCC opportunities. AGBI spoke to Investcorp’s Saudi Arabia MD Mashaal AlJomaih in the video above. November 7, 2024
Industry Bahrain’s Alba looking to Europe after Maaden deal Aluminium Bahrain (Alba) will keep exploring mergers and acquisitions, with a particular eye on Europe, once it completes its multi-billion dollar deal with Saudi Arabian Mining Company (Maaden). The deal is expected to be signed off in the first half of next year. The two companies penned a non-binding agreement in September and are in […] November 5, 2024
Banking & Finance Bahrain’s Mumtalakat prizes local investment over global Bahrain’s multi-billion dollar sovereign wealth fund Mumtalakat is looking closer to home for investments, prioritising local over international opportunities. Shaikh Salman bin Khalifa Al Khalifa, minister of finance and national economy at Mumtalakat, said: “What we have found is the most compelling investment opportunities, the highest return on equity investments, are increasingly at home or […] November 4, 2024
Manufacturing Abu Dhabi plans to buy stake in British carmaker McLaren Abu Dhabi-backed CYVN Holdings has entered a non-binding agreement with Mumtalakat Holding, Bahrain’s sovereign wealth fund, to buy a stake in British carmaker McLaren Group, with the potential to take ownership of its automotive business. The partnership aims to bolster McLaren with additional capital, advanced engineering expertise and technology, particularly in electric vehicles (EVs), the companies […] October 30, 2024
Finance Transport and finance help Bahrain overcome oil slump Bahrain’s economy expanded by 1.3 percent in the second quarter of 2024, thanks to double-digit growth in some of its non-oil sectors. The ministry of finance and national economy said 2.8 percent growth in its non-oil sector, which accounted for 85 percent of gross domestic product in Q2, helped to offset a 6.7 percent decline […] October 9, 2024
Banking & Finance Bahraini bank launches Gulf’s first bitcoin investment fund The National Bank of Bahrain has launched a bitcoin-pegged structured investment product, aimed at targeting growing demand for the cryptocurrency among institutional investors in the Gulf countries. The fund, developed in partnership with digital asset firm ARP Digital, will offer investors access to any rise in bitcoin’s price, capped within a predetermined threshold, and guarantee […] October 8, 2024
Analysis Mining Maaden-Alba merger ‘a potential game changer’ The proposed merger between the Saudi Arabian mining company Maaden and Bahrain’s aluminium smelter Alba looks likely to shake up the global aluminium industry, with the new company challenging for sixth place in the world rankings. “It’s almost a game-changing event, particularly in the GCC region,” says Andy Farida, a senior analyst at Fastmarkets, a […] September 27, 2024
